Old Mission Bank in Sault Sainte Marie, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Old Mission Bank in Sault Sainte Marie, Michigan (MI)
  • Show street view No street view available for this location
Old Mission Bank routing number info

Old Mission Bank - Overview

  • General
  • FDIC Certificate #: 35303
    Status: Active
    Federal Reserve ID: 2839053
    Bank Holding Company (Regulatory Top Holder): Old Mission Bancorp, Inc. (RSSDID: 2839044, Location: Sault Sainte Marie, MI)
    Date Established: Febuary 07, 2000
    WWW: http://www.oldmissionbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 77693
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 07, 2000
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 2701 1-75 Business Spur, Sault Sainte Marie, MI 49783
    County: Chippewa
    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): Sault Ste. Marie, MI (#42300)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $104.0 mil
    Equity capital: $10.7 mil
    Deposits held in domestic offices: $87.1 mil
    Return on assets (ROA): 0.79% ($0.8 mil)
    Quarterly return on assets: 0.99% ($1.0 mil)
    Return on Equity (ROE): 7.84% ($0.9 mil)
    Quarterly return on equity: 9.79% ($1.1 mil)
    Net income: $0.8 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.99% ($1,030.1 mil)
    Quarterly Pretax return on assets: 1.28% ($1,331.8 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, 2011)

  • Dollar figures in thousands
  • 33Total employees (full-time equivalent)
  • $104,048Total assets
  • $3,802Cash and due from depository institutions
  • $33Interest-bearing balances
  • $40,646Securities
  • $1,611Federal funds sold & reverse repurchase agreements
  • $53,627Net loans & leases
  • $1,026Loan loss allowance
  • $0Trading account assets
  • $2,609Bank premises and fixed assets
  • $0Other real estate owned
  • $379Goodwill and other intangibles
  • $104,048Life insurance assets
  • $1,374All other assets
  • $93,302Total liabilities and capital
  • $87,117Total liabilities
  • $71,505Total deposits
  • $87,117Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,940Trading liabilities
  • $0Other borrowed funds
  • $1,245Subordinated debt
  • $10,746All other liabilities
  • $10,746Total equity capital
  • $10,746Total bank equity capital
  • $0Perpetual preferred stock
  • $2,500Common stock
  • $3,500Surplus
  • $4,746Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $141Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,115Income earned, not collected on loans
  • $425Earning assets
  • $591Long-term assets (5+ years)
  • $95,917Average Assets, year-to-date
  • $26,085Average Assets, quarterly
  • $101,109Volatile liabilities
  • $105,200Insider loans
  • $64,088FHLB advances
  • $109,550Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $9,845Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,710Restructured Loans and leases
  • $3,817Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,851Total interest income
  • $1,333Total interest expense
  • $3,518Net interest income
  • $65Provision for loan and lease losses
  • $768Total noninterest income
  • $0Fiduciary activities
  • $170Service charges on deposit accounts
  • $0Trading account gains & fees
  • $598Additional noninterest income
  • $3,340Total noninterest expense
  • $1,830Salaries and employee benefits
  • $408Premises and equipment expense
  • $1,102Additional noninterest expense
  • $881Pre-tax net operating income
  • $119Securities gains (losses)
  • $200Applicable income taxes
  • $800Income before extraordinary items
  • $0Extraordinary gains - net
  • $800Net income attributable to bank
  • $0Net charge-offs
  • $800Cash dividends
  • $45Sale, conversion, retirement of capital stock, net
  • $250Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.15%Yield on earning assets
  • 1.41%Cost of funding earning assets
  • 3.73%Net interest margin
  • 0.81%Noninterest income to earning assets
  • 3.54%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.79%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 7.84%Return on equity (ROE)
  • 5.39%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 144.44%Credit loss provision to net charge-offs
  • 21.02%Efficiency ratio
  • 77,928Assets per employee
  • 3.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.25%Loss allowance to loans
  • 1.88%Loss allowance to noncurrent loans
  • 92.02%Noncurrent assets plus other real estate owned to assets
  • 1.07%Noncurrent loans to loans
  • 2.04%Net loans and leases to deposits
  • 61.56%Net loans and leases to core deposits
  • 64.04%Equity capital to assets
  • 10.33%Core capital (leverage) ratio
  • 8.99%Tier 1 risk-based capital ratio
  • 15.36%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $101,109Average earning assets
  • $10,205Average equity
  • $94,265Average loans

List of branches

  • 2 Michigan Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    077693Old Mission Bank2701 1-75 Business Spur, Sault Sainte Marie, MI 49783Febuary 07, 2000Full Service Brick and Mortar
    1432257Pickford Branch7196 E. Charles St., Pickford, MI 49774July 14, 2003Full Service Brick and Mortar

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

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Old Mission Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents