FDIC Certificate #: 27236 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 1190001 Date Established: May 02, 1988 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 39171 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: May 02, 1988 Last Structure Change Effective Date: March 31, 2009 Last Structure Change Process Date: April 02, 2009 Last Data Update: April 02, 2009 Data Source Date: April 05, 2012
Location
Address: 800 East Milham, Portage, MI 49081 County: Kalamazoo 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): Kalamazoo-Battle Creek, MI (#3720) Core Based Statistical Area (CBSA): Kalamazoo-Portage, MI (#28020) CBSA Metro Statistical Area: Kalamazoo-Portage, MI (#28020)
Financial Summary
Total assets: $217.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
30Total employees (full-time equivalent)
$217,668Total assets
$16,895Cash and due from depository institutions
$13,468Interest-bearing balances
$1,167Securities
$0Federal funds sold & reverse repurchase agreements
$192,136Net loans & leases
$2,208Loan loss allowance
$0Trading account assets
$3,754Bank premises and fixed assets
$392Other real estate owned
$0Goodwill and other intangibles
$149Life insurance assets
$3,324All other assets
$217,668Total liabilities and capital
$199,702Total liabilities
$189,858Total deposits
$174,601Interest-bearing deposits
$189,858Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$9,250Other borrowed funds
$0Subordinated debt
$594All other liabilities
$17,966Total equity capital
$17,966Total bank equity capital
$17,966Perpetual preferred stock
$0Common stock
$275Surplus
$12,477Undivided profits
Memoranda
$5,214Noncurrent loans and leases
$27,850Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,206Earning assets
$169Long-term assets (5+ years)
$798Average Assets, year-to-date
$206,771Average Assets, quarterly
$13,907Volatile liabilities
$209,259Insider loans
$220,124FHLB advances
$37,849Loans and leases held for sale
$11,204Unused loan commitments
$9,250Tier 1 (core) risk-based capital
$803Tier 2 risk-based capital
$569Total risk weighted assets
$27,850Total unused commitments
$1,180Restructured Loans and leases
$2,208Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$13,383Total interest income
$6,159Total interest expense
$7,224Net interest income
$820Provision for loan and lease losses
$980Total noninterest income
$0Fiduciary activities
$400Service charges on deposit accounts
$0Trading account gains & fees
$580Additional noninterest income
$3,833Total noninterest expense
$1,393Salaries and employee benefits
$373Premises and equipment expense
$2,067Additional noninterest expense
$3,551Pre-tax net operating income
$0Securities gains (losses)
$1,185Applicable income taxes
$2,366Income before extraordinary items
$0Extraordinary gains - net
$2,366Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$424Sale, conversion, retirement of capital stock, net
$1,840Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.88%Yield on earning assets
3.17%Cost of funding earning assets
3.71%Net interest margin
0.50%Noninterest income to earning assets
1.97%Noninterest expense to earning assets
1.13%Net operating income to assets
1.13%Return on assets (ROA)
1.70%Pretax return on assets
13.64%Return on equity (ROE)
3.03%Retained earnings to average equity (YTD only)
0.22%Net charge-offs to loans
193.40%Credit loss provision to net charge-offs
10.31%Efficiency ratio
46,721Assets per employee
7.26%Cash dividends to net income (YTD only)
Condition Ratios (%)
77.77%Loss allowance to loans
1.14%Loss allowance to noncurrent loans
183.08%Noncurrent assets plus other real estate owned to assets
0.73%Noncurrent loans to loans
0.62%Net loans and leases to deposits
101.20%Net loans and leases to core deposits
123.55%Equity capital to assets
8.25%Core capital (leverage) ratio
8.33%Tier 1 risk-based capital ratio
9.16%Total risk-based capital ratio
Memoranda
$10Average assets
$209,259Average earning assets
$17,352Average equity
$194,493Average loans
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 Portage Commerce 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.
Comment about this bank, ask questions, or add new information about it: