Old Kent Bank of Grand Haven in Grand Haven, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 1995

  • Old Kent Bank of Grand Haven in Grand Haven, Michigan (MI)
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Old Kent Bank of Grand Haven - Overview

  • General
  • FDIC Certificate #: 991
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fifth Third Bank (#993)
    Federal Reserve ID: 928140
    Date Established: September 01, 1851
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 193 (Interstate: No)
    FDIC's unique #: 653
    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: 223 Washington Street, Grand Haven, MI 49417
    County: Ottawa
    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
    Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000)
    Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
    Core Based Statistical Area (CBSA): Holland-Grand Haven, MI (#26100)
    CBSA Metro Statistical Area: Holland-Grand Haven, MI (#26100)
  • Financial Summary
  • Total assets: $402.1 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)
  • $155Total assets
  • $402,146Cash and due from depository institutions
  • $6,642Interest-bearing balances
  • $0Securities
  • $53,159Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $331,559Loan loss allowance
  • $4,615Trading account assets
  • $0Bank premises and fixed assets
  • $5,491Other real estate owned
  • $639Goodwill and other intangibles
  • $4,656Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $402,146Total liabilities
  • $372,913Total deposits
  • $325,480Interest-bearing deposits
  • $292,780Deposits held in domestic offices
  • 325480.00%% insured (estimated)
  • $77Federal funds purchased & repurchase agreements
  • $45,889Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $1,544Total equity capital
  • $1,544Total bank equity capital
  • $29,233Perpetual preferred stock
  • $0Common stock
  • $1,200Surplus
  • $8,780Undivided profits
  • Memoranda
  • $19,253Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,438Income earned, not collected on loans
  • $1,784Earning assets
  • $384,718Long-term assets (5+ years)
  • $99,968Average Assets, year-to-date
  • $369,157Average Assets, quarterly
  • $392,833Volatile liabilities
  • $103,693Insider loans
  • $2,098FHLB advances
  • $0Loans and leases held for sale
  • $896Unused loan commitments
  • $58,201Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $29,233Total risk weighted assets
  • $311,914Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $28,790Total interest expense
  • $11,423Net interest income
  • $17,367Provision for loan and lease losses
  • $420Total noninterest income
  • $3,363Fiduciary activities
  • $0Service charges on deposit accounts
  • $1,375Trading account gains & fees
  • $0Additional noninterest income
  • $1,988Total noninterest expense
  • $10,659Salaries and employee benefits
  • $4,479Premises and equipment expense
  • $1,170Additional noninterest expense
  • $5,010Pre-tax net operating income
  • $9,651Securities gains (losses)
  • $74Applicable income taxes
  • $3,335Income before extraordinary items
  • $6,390Extraordinary gains - net
  • $0Net income attributable to bank
  • $6,390Net charge-offs
  • $439Cash dividends
  • $2,000Sale, 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
  • 8.15%Cost of funding earning assets
  • 3.23%Net interest margin
  • 4.91%Noninterest income to earning assets
  • 0.95%Noninterest expense to earning assets
  • 3.02%Net operating income to assets
  • 1.72%Return on assets (ROA)
  • 1.73%Pretax return on assets
  • 2.63%Return on equity (ROE)
  • 25.22%Retained earnings to average equity (YTD only)
  • 17.33%Net charge-offs to loans
  • 0.15%Credit loss provision to net charge-offs
  • 95.67%Efficiency ratio
  • 51,418Assets per employee
  • 2.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.30%Loss allowance to loans
  • 1.37%Loss allowance to noncurrent loans
  • 320.93%Noncurrent assets plus other real estate owned to assets
  • 0.52%Noncurrent loans to loans
  • 0.43%Net loans and leases to deposits
  • 101.87%Net loans and leases to core deposits
  • 123.87%Equity capital to assets
  • 7.27%Core capital (leverage) ratio
  • 7.54%Tier 1 risk-based capital ratio
  • 9.37%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $369,157Average earning assets
  • $25,334Average equity
  • $353,434Average loans

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