FDIC Certificate #: 32195 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 436971 Date Established: Febuary 08, 1984 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 7983 FDIC's unique #: 45029 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: Febuary 08, 1984 Last Structure Change Effective Date: March 31, 2009 Last Structure Change Process Date: April 02, 2009 Last Data Update: April 02, 2009 Data Source Date: April 05, 2012
Location
Address: 31731 Northwestern Highway #105, Farmington Hills, MI 48334 County: Oakland Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Detroit Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Metropolitan Statistical Area (MSA): Detroit, MI (#2160) Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35) Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220) Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820) CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820) Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
Financial Summary
Total assets: $93.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
25Total employees (full-time equivalent)
$93,132Total assets
$7,573Cash and due from depository institutions
$5,776Interest-bearing balances
$662Securities
$0Federal funds sold & reverse repurchase agreements
$74,243Net loans & leases
$5,369Loan loss allowance
$0Trading account assets
$964Bank premises and fixed assets
$3,399Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$6,291All other assets
$93,132Total liabilities and capital
$84,018Total liabilities
$74,800Total deposits
$66,158Interest-bearing deposits
$74,800Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,750Other borrowed funds
$0Subordinated debt
$468All other liabilities
$9,114Total equity capital
$9,114Total bank equity capital
$9,114Perpetual preferred stock
$0Common stock
$1,585Surplus
$11,728Undivided profits
Memoranda
$-4,199Noncurrent loans and leases
$18,615Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$13,797Earning assets
$445Long-term assets (5+ years)
$288Average Assets, year-to-date
$80,681Average Assets, quarterly
$2,859Volatile liabilities
$100,163Insider loans
$93,066FHLB advances
$20,925Loans and leases held for sale
$404Unused loan commitments
$8,750Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$18,615Total unused commitments
$116Restructured Loans and leases
$1,063Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$5,512Total interest income
$2,779Total interest expense
$2,733Net interest income
$5,745Provision for loan and lease losses
$262Total noninterest income
$0Fiduciary activities
$142Service charges on deposit accounts
$0Trading account gains & fees
$120Additional noninterest income
$3,637Total noninterest expense
$1,727Salaries and employee benefits
$308Premises and equipment expense
$1,602Additional noninterest expense
-$6,387Pre-tax net operating income
$0Securities gains (losses)
-$2,160Applicable income taxes
-$4,227Income before extraordinary items
$0Extraordinary gains - net
-$4,227Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$2,904Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.36%Yield on earning assets
3.21%Cost of funding earning assets
3.15%Net interest margin
0.30%Noninterest income to earning assets
4.19%Noninterest expense to earning assets
-4.22%Net operating income to assets
-4.22%Return on assets (ROA)
-6.38%Pretax return on assets
-54.13%Return on equity (ROE)
-54.13%Retained earnings to average equity (YTD only)
3.28%Net charge-offs to loans
197.83%Credit loss provision to net charge-offs
-0.22%Efficiency ratio
121,436Assets per employee
3.73%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
6.74%Loss allowance to noncurrent loans
38.91%Noncurrent assets plus other real estate owned to assets
18.46%Noncurrent loans to loans
17.33%Net loans and leases to deposits
99.26%Net loans and leases to core deposits
129.40%Equity capital to assets
9.79%Core capital (leverage) ratio
8.40%Tier 1 risk-based capital ratio
9.84%Total risk-based capital ratio
Memoranda
$11Average assets
$100,163Average earning assets
$7,808Average equity
$86,699Average loans
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