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

This bank is inactive as of January 01, 1995

Old Kent Bank of Petoskey in Petoskey, Michigan (MI)
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Old Kent Bank of Petoskey - Overview

General
FDIC Certificate #: 12812
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fifth Third Bank (#993)
Federal Reserve ID: 884947
Date Established: January 01, 1891
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 8114
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: 300 East Mitchell Street, Petoskey, MI 49770
County: Emmet
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
Financial Summary
Total assets: $153.2 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)
$66Total assets
$153,191Cash and due from depository institutions
$1,194Interest-bearing balances
$0Securities
$19,288Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$127,904Loan loss allowance
$2,680Trading account assets
$0Bank premises and fixed assets
$2,200Other real estate owned
$0Goodwill and other intangibles
$2,605Life insurance assets
$0All other assets
$0Total liabilities and capital
$153,191Total liabilities
$141,907Total deposits
$130,773Interest-bearing deposits
$112,379Deposits held in domestic offices
130773.00%% insured (estimated)
$85Federal funds purchased & repurchase agreements
$10,502Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$632Total equity capital
$632Total bank equity capital
$11,284Perpetual preferred stock
$0Common stock
$1,000Surplus
$3,000Undivided profits
Memoranda
$7,284Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,185Income earned, not collected on loans
$919Earning assets
$147,192Long-term assets (5+ years)
$8,153Average Assets, year-to-date
$151,213Average Assets, quarterly
$153,892Volatile liabilities
$28,315Insider loans
$409FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$10,390Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$11,284Total risk weighted assets
$113,557Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$12,040Total interest expense
$4,441Net interest income
$7,599Provision for loan and lease losses
$160Total noninterest income
$1,336Fiduciary activities
$0Service charges on deposit accounts
$632Trading account gains & fees
$0Additional noninterest income
$704Total noninterest expense
$4,354Salaries and employee benefits
$1,852Premises and equipment expense
$362Additional noninterest expense
$2,140Pre-tax net operating income
$4,421Securities gains (losses)
$22Applicable income taxes
$1,508Income before extraordinary items
$2,935Extraordinary gains - net
$0Net income attributable to bank
$2,935Net charge-offs
$75Cash dividends
$1,000Sale, 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
8.36%Cost of funding earning assets
3.08%Net interest margin
5.28%Noninterest income to earning assets
0.93%Noninterest expense to earning assets
3.02%Net operating income to assets
1.93%Return on assets (ROA)
1.94%Pretax return on assets
2.94%Return on equity (ROE)
28.88%Retained earnings to average equity (YTD only)
19.04%Net charge-offs to loans
0.06%Credit loss provision to net charge-offs
213.33%Efficiency ratio
48,730Assets per employee
2.32%Cash dividends to net income (YTD only)
Condition Ratios (%)
34.07%Loss allowance to loans
2.05%Loss allowance to noncurrent loans
226.16%Noncurrent assets plus other real estate owned to assets
0.77%Noncurrent loans to loans
0.91%Net loans and leases to deposits
97.81%Net loans and leases to core deposits
113.23%Equity capital to assets
7.37%Core capital (leverage) ratio
7.28%Tier 1 risk-based capital ratio
9.94%Total risk-based capital ratio
Memoranda
$11Average assets
$151,213Average earning assets
$10,161Average equity
$144,014Average loans

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