1st State Bank in Saginaw, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • 1st State Bank in Saginaw, Michigan (MI)
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1st State Bank - Overview

  • General
  • FDIC Certificate #: 57626
    Status: Active
    Federal Reserve ID: 3223305
    Bank Holding Company (Regulatory Top Holder): Valley Financial Group, Ltd. (RSSDID: 3223293, Location: Saginaw, MI)
    Date Established: April 12, 2004
    WWW: http://www.1ststatebk.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 418761
    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: Commercial Lending Specialization
    Date of Deposit Insurance: April 12, 2004
    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: 4805 Towne Center Road, Suite 100, Saginaw, MI 48604
    County: Saginaw
    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): Saginaw-Bay City-Midland, MI (#6960)
    Combined Statistical Area (CSA): Saginaw-Bay City-Saginaw Township North, MI (#474)
    Core Based Statistical Area (CBSA): Saginaw-Saginaw Township North, MI (#40980)
    CBSA Metro Statistical Area: Saginaw-Saginaw Township North, MI (#40980)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $173.8 mil
    Equity capital: $17.3 mil
    Deposits held in domestic offices: $133.7 mil
    Return on assets (ROA): 0.53% ($0.9 mil)
    Quarterly return on assets: 0.60% ($1.0 mil)
    Return on Equity (ROE): 5.45% ($0.9 mil)
    Quarterly return on equity: 6.15% ($1.0 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.81% ($1,407.7 mil)
    Quarterly Pretax return on assets: 0.92% ($1,598.8 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
  • 38Total employees (full-time equivalent)
  • $173,787Total assets
  • $18,227Cash and due from depository institutions
  • $15,886Interest-bearing balances
  • $7,201Securities
  • $5,537Federal funds sold & reverse repurchase agreements
  • $133,582Net loans & leases
  • $1,863Loan loss allowance
  • $0Trading account assets
  • $3,508Bank premises and fixed assets
  • $2,150Other real estate owned
  • $397Goodwill and other intangibles
  • $173,787Life insurance assets
  • $3,185All other assets
  • $156,515Total liabilities and capital
  • $133,716Total liabilities
  • $100,979Total deposits
  • $133,716Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $22,213Trading liabilities
  • $0Other borrowed funds
  • $586Subordinated debt
  • $17,272All other liabilities
  • $17,272Total equity capital
  • $17,272Total bank equity capital
  • $1,800Perpetual preferred stock
  • $6,040Common stock
  • $10,096Surplus
  • $-664Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $612Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,038Income earned, not collected on loans
  • $303Earning assets
  • $505Long-term assets (5+ years)
  • $162,206Average Assets, year-to-date
  • $5,896Average Assets, quarterly
  • $167,451Volatile liabilities
  • $174,859Insider loans
  • $147,794FHLB advances
  • $176,899Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $17,105Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $55,754Restructured Loans and leases
  • $7,647Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,256Total interest income
  • $2,181Total interest expense
  • $6,075Net interest income
  • $510Provision for loan and lease losses
  • $764Total noninterest income
  • $0Fiduciary activities
  • $130Service charges on deposit accounts
  • $0Trading account gains & fees
  • $634Additional noninterest income
  • $4,969Total noninterest expense
  • $2,482Salaries and employee benefits
  • $436Premises and equipment expense
  • $2,051Additional noninterest expense
  • $1,360Pre-tax net operating income
  • $0Securities gains (losses)
  • $469Applicable income taxes
  • $891Income before extraordinary items
  • $0Extraordinary gains - net
  • $891Net income attributable to bank
  • $0Net charge-offs
  • $891Cash dividends
  • $139Sale, conversion, retirement of capital stock, net
  • $80Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.28%Yield on earning assets
  • 1.40%Cost of funding earning assets
  • 3.89%Net interest margin
  • 0.49%Noninterest income to earning assets
  • 3.18%Noninterest expense to earning assets
  • 0.53%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.81%Pretax return on assets
  • 5.45%Return on equity (ROE)
  • 4.96%Retained earnings to average equity (YTD only)
  • 0.11%Net charge-offs to loans
  • 366.91%Credit loss provision to net charge-offs
  • 13.45%Efficiency ratio
  • 72,657Assets per employee
  • 4.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 8.98%Loss allowance to loans
  • 1.38%Loss allowance to noncurrent loans
  • 179.48%Noncurrent assets plus other real estate owned to assets
  • 1.83%Noncurrent loans to loans
  • 0.77%Net loans and leases to deposits
  • 99.90%Net loans and leases to core deposits
  • 120.21%Equity capital to assets
  • 9.94%Core capital (leverage) ratio
  • 9.67%Tier 1 risk-based capital ratio
  • 11.57%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $167,451Average earning assets
  • $16,347Average equity
  • $156,324Average loans

List of branches

  • 3 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04187611st State Bank4805 Towne Center Road, Suite 100, Saginaw, MI 48604April 12, 2004Full Service Brick and Mortar
    1447867State Street Branch5424 State Street, Saginaw, MI 48603August 15, 2005Full Service Brick and Mortar
    2447868Bay City Branch601 North Madison Avenue, Bay City, MI 48708Febuary 06, 2006Full Service Brick and Mortar

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