Society National Bank, Sturgis in Sturgis, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 15, 1993

Society National Bank, Sturgis in Sturgis, Michigan (MI)
Show street view No street view available for this location

Society National Bank, Sturgis - Overview

General
FDIC Certificate #: 16316
Status: Inactive
Closing history: Consolidated - Without Assistance
Acquiring institution: Keybank National Association (#21735)
Federal Reserve ID: 976244
Date Established: November 05, 1945
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 6 (Interstate: No)
FDIC's unique #: 10503
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: November 05, 1945
Last Structure Change Effective Date: March 15, 1993
Last Structure Change Process Date: March 31, 1993
Last Data Update: March 31, 1993
Data Source Date: April 05, 2012
Location
Address: 205 East Chicago Road, Sturgis, MI 49091
County: St. Joseph
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): Sturgis, MI (#44780)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $95.6 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$44Total assets
$95,575Cash and due from depository institutions
$4,612Interest-bearing balances
$0Securities
$51,727Federal funds sold & reverse repurchase agreements
$4,000Net loans & leases
$32,745Loan loss allowance
$998Trading account assets
$0Bank premises and fixed assets
$1,213Other real estate owned
$15Goodwill and other intangibles
$1,263Life insurance assets
$0All other assets
$0Total liabilities and capital
$95,575Total liabilities
$85,427Total deposits
$81,349Interest-bearing deposits
$70,997Deposits held in domestic offices
81349.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$2,108Trading liabilities
$0Other borrowed funds
$1,062Subordinated debt
$200All other liabilities
$708Total equity capital
$708Total bank equity capital
$10,148Perpetual preferred stock
$0Common stock
$929Surplus
$929Undivided profits
Memoranda
$8,290Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$725Income earned, not collected on loans
$175Earning assets
$88,472Long-term assets (5+ years)
$24,666Average Assets, year-to-date
$99,748Average Assets, quarterly
$95,581Volatile liabilities
$4,517Insider loans
$36FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$6,985Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,148Total risk weighted assets
$42,067Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$7,158Total interest expense
$3,604Net interest income
$3,554Provision for loan and lease losses
$520Total noninterest income
$1,121Fiduciary activities
$474Service charges on deposit accounts
$440Trading account gains & fees
$0Additional noninterest income
$207Total noninterest expense
$2,875Salaries and employee benefits
$1,149Premises and equipment expense
$402Additional noninterest expense
$1,324Pre-tax net operating income
$1,280Securities gains (losses)
-$8Applicable income taxes
$140Income before extraordinary items
$1,132Extraordinary gains - net
$0Net income attributable to bank
$1,132Net charge-offs
$245Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.73%Cost of funding earning assets
3.89%Net interest margin
3.84%Noninterest income to earning assets
1.21%Noninterest expense to earning assets
3.10%Net operating income to assets
1.14%Return on assets (ROA)
1.13%Pretax return on assets
1.28%Return on equity (ROE)
11.91%Retained earnings to average equity (YTD only)
11.91%Net charge-offs to loans
0.58%Credit loss provision to net charge-offs
212.24%Efficiency ratio
61,497Assets per employee
2.17%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.96%Loss allowance to noncurrent loans
137.66%Noncurrent assets plus other real estate owned to assets
0.77%Noncurrent loans to loans
2.15%Net loans and leases to deposits
40.25%Net loans and leases to core deposits
40.93%Equity capital to assets
10.62%Core capital (leverage) ratio
10.71%Tier 1 risk-based capital ratio
24.12%Total risk-based capital ratio
Memoranda
$25Average assets
$99,748Average earning assets
$9,502Average equity
$92,624Average 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 Society National Bank, Sturgis.
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.