Alden State Bank in Alden, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Alden State Bank - Overview

  • General
  • FDIC Certificate #: 17622
    Status: Active
    Federal Reserve ID: 388744
    Date Established: January 01, 1934
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 12071
    FDIC's unique #: 11593
    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: June 22, 1956
    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: Coy And Helena Streets, Alden, MI 49612
    County: Antrim
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $164.0 mil
    Equity capital: $16.9 mil
    Deposits held in domestic offices: $139.1 mil
    Return on assets (ROA): -0.03% (-$0.0 mil)
    Quarterly return on assets: -0.15% (-$0.2 mil)
    Return on Equity (ROE): -0.29% (-$0.0 mil)
    Quarterly return on equity: -1.52% (-$0.3 mil)
    Net income: -$0.1 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -0.19% (-$311.6 mil)
    Quarterly Pretax return on assets: -0.58% (-$951.1 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
  • 45Total employees (full-time equivalent)
  • $163,980Total assets
  • $9,198Cash and due from depository institutions
  • $6,095Interest-bearing balances
  • $29,350Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $114,977Net loans & leases
  • $2,134Loan loss allowance
  • $0Trading account assets
  • $3,860Bank premises and fixed assets
  • $2,414Other real estate owned
  • $0Goodwill and other intangibles
  • $163,980Life insurance assets
  • $4,181All other assets
  • $147,114Total liabilities and capital
  • $139,083Total liabilities
  • $113,090Total deposits
  • $139,083Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,725Trading liabilities
  • $0Other borrowed funds
  • $1,306Subordinated debt
  • $16,866All other liabilities
  • $16,866Total equity capital
  • $16,866Total bank equity capital
  • $0Perpetual preferred stock
  • $1,550Common stock
  • $10,450Surplus
  • $4,866Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,529Income earned, not collected on loans
  • $0Earning assets
  • $633Long-term assets (5+ years)
  • $150,422Average Assets, year-to-date
  • $32,424Average Assets, quarterly
  • $168,116Volatile liabilities
  • $169,648Insider loans
  • $119,958FHLB advances
  • $165,693Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $16,990Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,480Restructured Loans and leases
  • $1,847Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,469Total interest income
  • $1,506Total interest expense
  • $6,963Net interest income
  • $2,469Provision for loan and lease losses
  • -$230Total noninterest income
  • $0Fiduciary activities
  • $379Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$609Additional noninterest income
  • $4,591Total noninterest expense
  • $2,425Salaries and employee benefits
  • $315Premises and equipment expense
  • $1,851Additional noninterest expense
  • -$327Pre-tax net operating income
  • $6Securities gains (losses)
  • -$271Applicable income taxes
  • -$50Income before extraordinary items
  • $0Extraordinary gains - net
  • -$50Net income attributable to bank
  • $0Net charge-offs
  • -$50Cash dividends
  • $2,821Sale, conversion, retirement of capital stock, net
  • $77Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.53%Yield on earning assets
  • 0.98%Cost of funding earning assets
  • 4.55%Net interest margin
  • -0.15%Noninterest income to earning assets
  • 3.00%Noninterest expense to earning assets
  • -0.03%Net operating income to assets
  • -0.03%Return on assets (ROA)
  • -0.19%Pretax return on assets
  • -0.29%Return on equity (ROE)
  • -0.75%Retained earnings to average equity (YTD only)
  • 2.41%Net charge-offs to loans
  • 87.52%Credit loss provision to net charge-offs
  • 0.76%Efficiency ratio
  • 68,187Assets per employee
  • 3.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -154.00%Loss allowance to loans
  • 1.82%Loss allowance to noncurrent loans
  • 47.12%Noncurrent assets plus other real estate owned to assets
  • 4.23%Noncurrent loans to loans
  • 3.87%Net loans and leases to deposits
  • 82.67%Net loans and leases to core deposits
  • 84.61%Equity capital to assets
  • 10.29%Core capital (leverage) ratio
  • 10.25%Tier 1 risk-based capital ratio
  • 14.16%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $168,116Average earning assets
  • $16,954Average equity
  • $153,023Average loans

List of branches

  • 4 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011593Alden State BankCoy And Helena Streets, Alden, MI 49612January 01, 1934Full Service Brick and Mortar
    1242371Elk Rapids Branch300 Ames St, Elk Rapids, MI 49629January 20, 1992Full Service Brick and Mortar
    2242372Bellaire Branch641 Alden St, Bellaire, MI 49615October 05, 1998Full Service Brick and Mortar
    3365707Central Lake Branch2440 North Main, Central Lake, MI 49622December 17, 2002Full Service Brick and Mortar

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