FDIC Certificate #: 11404 Status: Active Federal Reserve ID: 16944 Date Established: January 01, 1882 WWW:http://www.wmsbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 7280 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 232 West Monroe Street, Bangor, MI 49013 County: Van Buren 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)
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $40.5 mil Equity capital: $4.1 mil Deposits held in domestic offices: $36.1 mil Return on assets (ROA): 0.28% ($0.1 mil) Quarterly return on assets: 0.04% ($0.0 mil) Return on Equity (ROE): 2.59% ($0.1 mil) Quarterly return on equity: 0.38% ($0.0 mil) Net income: $0.1 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.31% ($125.7 mil) Quarterly Pretax return on assets: 0.04% ($16.2 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
12Total employees (full-time equivalent)
$40,548Total assets
$8,004Cash and due from depository institutions
$2,016Interest-bearing balances
$18,038Securities
$0Federal funds sold & reverse repurchase agreements
$13,493Net loans & leases
$239Loan loss allowance
$0Trading account assets
$165Bank premises and fixed assets
$472Other real estate owned
$0Goodwill and other intangibles
$40,548Life insurance assets
$376All other assets
$36,414Total liabilities and capital
$36,132Total liabilities
$29,678Total deposits
$36,132Interest-bearing deposits
$95Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$282Subordinated debt
$4,134All other liabilities
$4,134Total equity capital
$4,134Total bank equity capital
$0Perpetual preferred stock
$1,000Common stock
$1,500Surplus
$1,634Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$596Income earned, not collected on loans
$81Earning assets
$240Long-term assets (5+ years)
$33,547Average Assets, year-to-date
$11,515Average Assets, quarterly
$38,718Volatile liabilities
$40,328Insider loans
$22,523FHLB advances
$39,943Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$3,762Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$389Restructured Loans and leases
$856Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$1,422Total interest income
$208Total interest expense
$1,214Net interest income
$0Provision for loan and lease losses
$173Total noninterest income
$0Fiduciary activities
$58Service charges on deposit accounts
$0Trading account gains & fees
$115Additional noninterest income
$1,269Total noninterest expense
$683Salaries and employee benefits
$85Premises and equipment expense
$501Additional noninterest expense
$118Pre-tax net operating income
$1Securities gains (losses)
$12Applicable income taxes
$107Income before extraordinary items
$0Extraordinary gains - net
$107Net income attributable to bank
$0Net charge-offs
$107Cash dividends
-$25Sale, conversion, retirement of capital stock, net
$180Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.60%Yield on earning assets
0.67%Cost of funding earning assets
3.93%Net interest margin
0.56%Noninterest income to earning assets
4.11%Noninterest expense to earning assets
0.27%Net operating income to assets
0.28%Return on assets (ROA)
0.31%Pretax return on assets
2.59%Return on equity (ROE)
-1.77%Retained earnings to average equity (YTD only)
-0.18%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
91,492Assets per employee
3.38%Cash dividends to net income (YTD only)
Condition Ratios (%)
168.22%Loss allowance to loans
1.74%Loss allowance to noncurrent loans
40.10%Noncurrent assets plus other real estate owned to assets
2.63%Noncurrent loans to loans
4.34%Net loans and leases to deposits
37.34%Net loans and leases to core deposits
37.87%Equity capital to assets
10.20%Core capital (leverage) ratio
9.42%Tier 1 risk-based capital ratio
16.70%Total risk-based capital ratio
Memoranda
$18Average assets
$38,718Average earning assets
$4,124Average equity
$30,889Average loans
List of branches
1 Michigan Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
7280
The West Michigan Savings Bank
232 West Monroe Street, Bangor, MI 49013
January 01, 1882
Full Service Brick and Mortar
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