The Algonac Savings Bank in Algonac, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 10, 1997

  • The Algonac Savings Bank in Algonac, Michigan (MI)
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The Algonac Savings Bank - Overview

  • General
  • FDIC Certificate #: 14440
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fifth Third Bank (#993)
    Federal Reserve ID: 449346
    Date Established: April 17, 1912
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    FDIC's unique #: 9024
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 04, 1934
    Last Structure Change Effective Date: May 10, 1997
    Last Structure Change Process Date: June 05, 1997
    Last Data Update: June 05, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 1117 St. Clair River Drive, Algonac, MI 48001
    County: St. Clair
    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: $124.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $64Total assets
  • $123,498Cash and due from depository institutions
  • $3,971Interest-bearing balances
  • $0Securities
  • $40,275Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $76,969Loan loss allowance
  • $936Trading account assets
  • $0Bank premises and fixed assets
  • $1,294Other real estate owned
  • $0Goodwill and other intangibles
  • $989Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $123,498Total liabilities
  • $108,249Total deposits
  • $107,543Interest-bearing deposits
  • $95,932Deposits held in domestic offices
  • 107543.00%% insured (estimated)
  • $88Federal funds purchased & repurchase agreements
  • $31Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $675Total equity capital
  • $675Total bank equity capital
  • $15,249Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $6,000Undivided profits
  • Memoranda
  • $7,249Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $525Income earned, not collected on loans
  • $415Earning assets
  • $117,244Long-term assets (5+ years)
  • $21,632Average Assets, year-to-date
  • $122,177Average Assets, quarterly
  • $124,702Volatile liabilities
  • $8,207Insider loans
  • $7,248FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $10,573Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $15,196Total risk weighted assets
  • $70,074Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $9,388Total interest expense
  • $3,630Net interest income
  • $5,758Provision for loan and lease losses
  • $199Total noninterest income
  • $867Fiduciary activities
  • $0Service charges on deposit accounts
  • $451Trading account gains & fees
  • $0Additional noninterest income
  • $416Total noninterest expense
  • $3,471Salaries and employee benefits
  • $1,883Premises and equipment expense
  • $400Additional noninterest expense
  • $1,188Pre-tax net operating income
  • $2,955Securities gains (losses)
  • $4Applicable income taxes
  • $770Income before extraordinary items
  • $2,189Extraordinary gains - net
  • $0Net income attributable to bank
  • $2,189Net charge-offs
  • $61Cash dividends
  • $1,240Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.13%Cost of funding earning assets
  • 3.14%Net interest margin
  • 4.98%Noninterest income to earning assets
  • 0.75%Noninterest expense to earning assets
  • 3.00%Net operating income to assets
  • 1.79%Return on assets (ROA)
  • 1.79%Pretax return on assets
  • 2.42%Return on equity (ROE)
  • 14.82%Retained earnings to average equity (YTD only)
  • 6.43%Net charge-offs to loans
  • 0.08%Credit loss provision to net charge-offs
  • 326.23%Efficiency ratio
  • 52,392Assets per employee
  • 1.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 56.65%Loss allowance to loans
  • 1.20%Loss allowance to noncurrent loans
  • 178.29%Noncurrent assets plus other real estate owned to assets
  • 0.43%Noncurrent loans to loans
  • 0.67%Net loans and leases to deposits
  • 71.57%Net loans and leases to core deposits
  • 77.46%Equity capital to assets
  • 12.35%Core capital (leverage) ratio
  • 12.24%Tier 1 risk-based capital ratio
  • 21.69%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $122,177Average earning assets
  • $14,770Average equity
  • $115,516Average loans

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