FDIC Certificate #: 33126 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 1473496 Date Established: September 24, 1990 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 46361 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: September 24, 1990 Last Structure Change Effective Date: March 31, 2010 Last Structure Change Process Date: April 14, 2010 Last Data Update: April 14, 2010 Data Source Date: April 05, 2012
Location
Address: 240 East 8th Street, Holland, MI 49423 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: $106.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
16Total employees (full-time equivalent)
$106,751Total assets
$28,604Cash and due from depository institutions
$27,765Interest-bearing balances
$390Securities
$0Federal funds sold & reverse repurchase agreements
$63,402Net loans & leases
$3,589Loan loss allowance
$0Trading account assets
$2,681Bank premises and fixed assets
$3,357Other real estate owned
$1,613Goodwill and other intangibles
$619Life insurance assets
$6,704All other assets
$106,751Total liabilities and capital
$99,914Total liabilities
$95,369Total deposits
$90,944Interest-bearing deposits
$95,369Deposits held in domestic offices
91.69%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,574Other borrowed funds
$0Subordinated debt
$971All other liabilities
$6,837Total equity capital
$6,837Total bank equity capital
$6,837Perpetual preferred stock
$0Common stock
$2,425Surplus
$12,266Undivided profits
Memoranda
$-7,854Noncurrent loans and leases
$4,870Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5,336Earning assets
$0Long-term assets (5+ years)
$249Average Assets, year-to-date
$91,557Average Assets, quarterly
$3,635Volatile liabilities
$110,665Insider loans
$104,725FHLB advances
$18,133Loans and leases held for sale
$3,067Unused loan commitments
$3,500Tier 1 (core) risk-based capital
$3,316Tier 2 risk-based capital
$2,124Total risk weighted assets
$4,870Total unused commitments
$506Restructured Loans and leases
$940Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$4,327Total interest income
$2,308Total interest expense
$2,019Net interest income
$4,525Provision for loan and lease losses
$1,253Total noninterest income
$1,259Fiduciary activities
$55Service charges on deposit accounts
$0Trading account gains & fees
-$61Additional noninterest income
$5,485Total noninterest expense
$1,433Salaries and employee benefits
$362Premises and equipment expense
$3,690Additional noninterest expense
-$6,738Pre-tax net operating income
$0Securities gains (losses)
$558Applicable income taxes
-$7,296Income before extraordinary items
$0Extraordinary gains - net
-$7,296Net income attributable to bank
$0Net charge-offs
-$7,296Cash dividends
$4,426Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.48%Yield on earning assets
2.39%Cost of funding earning assets
2.09%Net interest margin
1.30%Noninterest income to earning assets
5.68%Noninterest expense to earning assets
-6.59%Net operating income to assets
-6.59%Return on assets (ROA)
-6.09%Pretax return on assets
-84.84%Return on equity (ROE)
-84.84%Retained earnings to average equity (YTD only)
5.75%Net charge-offs to loans
102.24%Credit loss provision to net charge-offs
-0.50%Efficiency ratio
162,531Assets per employee
6.67%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.36%Loss allowance to noncurrent loans
67.26%Noncurrent assets plus other real estate owned to assets
8.14%Noncurrent loans to loans
7.97%Net loans and leases to deposits
66.48%Net loans and leases to core deposits
78.53%Equity capital to assets
6.40%Core capital (leverage) ratio
4.86%Tier 1 risk-based capital ratio
7.01%Total risk-based capital ratio
Memoranda
$8Average assets
$110,665Average earning assets
$8,600Average equity
$96,497Average loans
Total Fiduciary and Related Assets (December 31, 2009)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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