Old Kent Bank-Grand Traverse in city_name, state_name - Detailed Financial Reports, Location

Old Kent Bank-Grand Traverse in Traverse City, Michigan (MI)
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Old Kent Bank-Grand Traverse - Overview

General
FDIC Certificate #: 1016
Status: Inactive
Closing history: Corrections
Acquiring institution: Fifth Third Bank (#993)
Federal Reserve ID: 230544
Date Established: January 01, 1856
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 192 (Interstate: No)
FDIC's unique #: 673
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 01, 1995
Last Structure Change Process Date: Febuary 06, 1995
Last Data Update: Febuary 06, 1995
Data Source Date: April 05, 2012
Location
Address: 102 West Front Street, Traverse City, MI 49685
County: Grand Traverse
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Grand Rapids
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Traverse City, MI (#45900)
CBSA Micro Statistical Area: Yes
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $450.1 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$190Total assets
$450,147Cash and due from depository institutions
$20,516Interest-bearing balances
$0Securities
$154,555Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$262,149Loan loss allowance
$4,336Trading account assets
$0Bank premises and fixed assets
$4,850Other real estate owned
$0Goodwill and other intangibles
$8,077Life insurance assets
$0All other assets
$0Total liabilities and capital
$450,147Total liabilities
$421,340Total deposits
$367,431Interest-bearing deposits
$302,551Deposits held in domestic offices
367431.00%% insured (estimated)
$85Federal funds purchased & repurchase agreements
$52,012Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$1,897Total equity capital
$1,897Total bank equity capital
$28,807Perpetual preferred stock
$0Common stock
$1,640Surplus
$10,860Undivided profits
Memoranda
$16,307Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,760Income earned, not collected on loans
$1,503Earning assets
$416,704Long-term assets (5+ years)
$90,240Average Assets, year-to-date
$429,904Average Assets, quarterly
$438,466Volatile liabilities
$69,145Insider loans
$8,516FHLB advances
$0Loans and leases held for sale
$222Unused loan commitments
$71,174Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$29,447Total risk weighted assets
$285,969Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$30,858Total interest expense
$11,738Net interest income
$19,120Provision for loan and lease losses
$330Total noninterest income
$3,441Fiduciary activities
$0Service charges on deposit accounts
$1,744Trading account gains & fees
$0Additional noninterest income
$1,697Total noninterest expense
$12,025Salaries and employee benefits
$5,518Premises and equipment expense
$1,203Additional noninterest expense
$5,304Pre-tax net operating income
$10,206Securities gains (losses)
$116Applicable income taxes
$3,375Income before extraordinary items
$6,947Extraordinary gains - net
$0Net income attributable to bank
$6,947Net charge-offs
-$248Cash dividends
$4,000Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.65%Cost of funding earning assets
2.91%Net interest margin
4.74%Noninterest income to earning assets
0.85%Noninterest expense to earning assets
2.98%Net operating income to assets
1.60%Return on assets (ROA)
1.62%Pretax return on assets
2.40%Return on equity (ROE)
25.13%Retained earnings to average equity (YTD only)
10.66%Net charge-offs to loans
-0.10%Credit loss provision to net charge-offs
-133.06%Efficiency ratio
53,300Assets per employee
2.37%Cash dividends to net income (YTD only)
Condition Ratios (%)
57.58%Loss allowance to loans
1.63%Loss allowance to noncurrent loans
246.36%Noncurrent assets plus other real estate owned to assets
0.39%Noncurrent loans to loans
0.66%Net loans and leases to deposits
71.35%Net loans and leases to core deposits
74.84%Equity capital to assets
6.40%Core capital (leverage) ratio
6.81%Tier 1 risk-based capital ratio
10.30%Total risk-based capital ratio
Memoranda
$12Average assets
$429,904Average earning assets
$27,642Average equity
$403,249Average loans

Old Kent Bank-Grand Traverse in Traverse City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Old Kent Bank-Grand Traverse - Overview

Assets and Liabilities (December 31, 1994)

Income and Expense (December 31, 1994)

Performance and Condition Ratios (December 31, 1994)

Comment about this bank, ask questions, or add new information about it:

Old Kent Bank-Grand Traverse in Traverse City, Michigan (MI)Overview, Financial Summary, Detailed Financial Reports, Branches

Old Kent Bank-Grand Traverse - Overview

Assets and Liabilities (December 31, 1994)

Income and Expense (December 31, 1994)

Performance and Condition Ratios (December 31, 1994)

Comment about this bank, ask questions, or add new information about it:

Old Kent Bank-Grand Traverse in Traverse City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches