FDIC Certificate #: 34673 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Level One Bank (#58604) Federal Reserve ID: 2636083 Date Established: Febuary 12, 1998 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 5 (Interstate: No) OTS Docket #: 15779 FDIC's unique #: 61125 Numeric code: 13 Regulator: FED 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: Febuary 12, 1998 Last Structure Change Effective Date: December 10, 2010 Last Structure Change Process Date: December 13, 2010 Last Data Update: December 13, 2010 Data Source Date: April 05, 2012
Location
Address: 31000 Northwestern Highway, Farmington Hills, MI 48334 County: Oakland Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Detroit Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Metropolitan Statistical Area (MSA): Detroit, MI (#2160) Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35) Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220) Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820) CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820) Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
Financial Summary
Total assets: $252.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
68Total employees (full-time equivalent)
$288,263Total assets
$25,913Cash and due from depository institutions
$25,427Interest-bearing balances
$8,088Securities
$686Federal funds sold & reverse repurchase agreements
$244,974Net loans & leases
$6,498Loan loss allowance
$0Trading account assets
$876Bank premises and fixed assets
$2,242Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$5,484All other assets
$288,262Total liabilities and capital
$275,631Total liabilities
$236,337Total deposits
$226,651Interest-bearing deposits
$236,337Deposits held in domestic offices
96.66%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$38,500Other borrowed funds
$0Subordinated debt
$794All other liabilities
$12,631Total equity capital
$12,631Total bank equity capital
$12,631Perpetual preferred stock
$0Common stock
$1,626Surplus
$30,482Undivided profits
Memoranda
$-19,477Noncurrent loans and leases
$12,366Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$13,456Earning assets
$0Long-term assets (5+ years)
$951Average Assets, year-to-date
$279,175Average Assets, quarterly
$23,985Volatile liabilities
$280,326Insider loans
$284,534FHLB advances
$71,059Loans and leases held for sale
$740Unused loan commitments
$38,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$7,202Total risk weighted assets
$12,366Total unused commitments
$15,504Restructured Loans and leases
$2,928Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$14,436Total interest income
$7,686Total interest expense
$6,750Net interest income
$8,255Provision for loan and lease losses
$2,846Total noninterest income
$0Fiduciary activities
$188Service charges on deposit accounts
$0Trading account gains & fees
$2,658Additional noninterest income
$11,266Total noninterest expense
$4,921Salaries and employee benefits
$1,322Premises and equipment expense
$5,023Additional noninterest expense
-$9,925Pre-tax net operating income
-$6Securities gains (losses)
$0Applicable income taxes
-$9,931Income before extraordinary items
$0Extraordinary gains - net
-$9,931Net income attributable to bank
$0Net charge-offs
-$9,931Cash dividends
$7,801Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.37%Yield on earning assets
2.86%Cost of funding earning assets
2.51%Net interest margin
1.06%Noninterest income to earning assets
4.19%Noninterest expense to earning assets
-3.54%Net operating income to assets
-3.54%Return on assets (ROA)
-3.54%Pretax return on assets
-52.88%Return on equity (ROE)
-52.88%Retained earnings to average equity (YTD only)
3.13%Net charge-offs to loans
105.82%Credit loss provision to net charge-offs
-0.21%Efficiency ratio
117,403Assets per employee
4.24%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.58%Loss allowance to noncurrent loans
48.29%Noncurrent assets plus other real estate owned to assets
5.45%Noncurrent loans to loans
5.35%Net loans and leases to deposits
103.65%Net loans and leases to core deposits
146.01%Equity capital to assets
4.38%Core capital (leverage) ratio
4.51%Tier 1 risk-based capital ratio
5.54%Total risk-based capital ratio
Memoranda
$7Average assets
$280,326Average earning assets
$18,781Average equity
$269,004Average loans
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