FDIC Certificate #: 57133 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:United Bank & Trust (#13177) Federal Reserve ID: 2978297 Date Established: April 02, 2001 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 5 (Interstate: No) FDIC's unique #: 358404 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: April 02, 2001 Last Structure Change Effective Date: April 01, 2010 Last Structure Change Process Date: April 08, 2010 Last Data Update: April 08, 2010 Data Source Date: April 05, 2012
Location
Address: 2723 South State Street, Ann Arbor, MI 48104 County: Washtenaw 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): Ann Arbor, MI (#440) 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): Ann Arbor, MI (#11460) CBSA Metro Statistical Area: Ann Arbor, MI (#11460)
Financial Summary
Total assets: $389.4 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
45Total employees (full-time equivalent)
$393,820Total assets
$43,363Cash and due from depository institutions
$39,477Interest-bearing balances
$17,809Securities
$295Federal funds sold & reverse repurchase agreements
$317,432Net loans & leases
$7,605Loan loss allowance
$0Trading account assets
$3,900Bank premises and fixed assets
$322Other real estate owned
$138Goodwill and other intangibles
$2,596Life insurance assets
$10,561All other assets
$393,820Total liabilities and capital
$360,103Total liabilities
$339,573Total deposits
$290,845Interest-bearing deposits
$339,573Deposits held in domestic offices
76.90%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$19,400Other borrowed funds
$0Subordinated debt
$1,130All other liabilities
$33,717Total equity capital
$33,717Total bank equity capital
$33,717Perpetual preferred stock
$0Common stock
$2,000Surplus
$25,600Undivided profits
Memoranda
$6,117Noncurrent loans and leases
$32,910Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,862Earning assets
$0Long-term assets (5+ years)
$1,392Average Assets, year-to-date
$375,013Average Assets, quarterly
$34,053Volatile liabilities
$371,453Insider loans
$389,047FHLB advances
$83,452Loans and leases held for sale
$6,674Unused loan commitments
$17,000Tier 1 (core) risk-based capital
$8,750Tier 2 risk-based capital
$0Total risk weighted assets
$32,910Total unused commitments
$471Restructured Loans and leases
$4,012Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$19,206Total interest income
$5,530Total interest expense
$13,676Net interest income
$7,270Provision for loan and lease losses
$5,348Total noninterest income
$0Fiduciary activities
$622Service charges on deposit accounts
$0Trading account gains & fees
$4,726Additional noninterest income
$14,098Total noninterest expense
$4,307Salaries and employee benefits
$1,523Premises and equipment expense
$8,268Additional noninterest expense
-$2,344Pre-tax net operating income
$0Securities gains (losses)
-$886Applicable income taxes
-$1,458Income before extraordinary items
$0Extraordinary gains - net
-$1,458Net income attributable to bank
$0Net charge-offs
-$1,458Cash dividends
$6,389Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.45%Yield on earning assets
1.57%Cost of funding earning assets
3.88%Net interest margin
1.52%Noninterest income to earning assets
4.00%Noninterest expense to earning assets
-0.39%Net operating income to assets
-0.39%Return on assets (ROA)
-0.63%Pretax return on assets
-4.44%Return on equity (ROE)
-4.44%Retained earnings to average equity (YTD only)
1.97%Net charge-offs to loans
113.79%Credit loss provision to net charge-offs
0.77%Efficiency ratio
63,625Assets per employee
8.75%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.34%Loss allowance to noncurrent loans
77.11%Noncurrent assets plus other real estate owned to assets
2.59%Noncurrent loans to loans
3.03%Net loans and leases to deposits
93.48%Net loans and leases to core deposits
120.69%Equity capital to assets
8.56%Core capital (leverage) ratio
8.65%Tier 1 risk-based capital ratio
10.56%Total risk-based capital ratio
Memoranda
$12Average assets
$371,453Average earning assets
$32,858Average equity
$352,681Average loans
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