Bank One, Sturgis in Sturgis, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 1995

Bank One, Sturgis in Sturgis, Michigan (MI)
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Bank One, Sturgis - Overview

General
FDIC Certificate #: 15023
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Citizens Bank (#986)
Federal Reserve ID: 973645
Date Established: March 07, 1892
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 6 (Interstate: No)
FDIC's unique #: 9418
Numeric code: 13
Regulator: FED
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: Febuary 11, 1935
Last Structure Change Effective Date: March 01, 1995
Last Structure Change Process Date: April 13, 1995
Last Data Update: April 13, 1995
Data Source Date: April 05, 2012
Location
Address: 100 East Chicago Road, Sturgis, MI 49091
County: St. Joseph
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
Core Based Statistical Area (CBSA): Sturgis, MI (#44780)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $167.3 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$75Total assets
$167,335Cash and due from depository institutions
$5,338Interest-bearing balances
$0Securities
$13,378Federal funds sold & reverse repurchase agreements
$23,000Net loans & leases
$121,008Loan loss allowance
$2,227Trading account assets
$0Bank premises and fixed assets
$2,229Other real estate owned
$22Goodwill and other intangibles
$2,360Life insurance assets
$0All other assets
$0Total liabilities and capital
$167,335Total liabilities
$151,068Total deposits
$141,429Interest-bearing deposits
$126,880Deposits held in domestic offices
141429.00%% insured (estimated)
$91Federal funds purchased & repurchase agreements
$7,966Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$1,673Total equity capital
$1,673Total bank equity capital
$16,267Perpetual preferred stock
$0Common stock
$1,001Surplus
$4,999Undivided profits
Memoranda
$10,267Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$994Income earned, not collected on loans
$966Earning assets
$157,386Long-term assets (5+ years)
$36,104Average Assets, year-to-date
$168,484Average Assets, quarterly
$167,659Volatile liabilities
$14,068Insider loans
$1,078FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$7,029Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$16,643Total risk weighted assets
$125,859Total unused commitments
$0Restructured Loans and leases
$45,930Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$13,910Total interest expense
$4,954Net interest income
$8,956Provision for loan and lease losses
$540Total noninterest income
$1,670Fiduciary activities
$583Service charges on deposit accounts
$536Trading account gains & fees
$0Additional noninterest income
$551Total noninterest expense
$6,909Salaries and employee benefits
$2,331Premises and equipment expense
$630Additional noninterest expense
$3,948Pre-tax net operating income
$3,177Securities gains (losses)
-$6Applicable income taxes
$1,071Income before extraordinary items
$2,100Extraordinary gains - net
$0Net income attributable to bank
$2,100Net charge-offs
$682Cash dividends
$1,500Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.72%Cost of funding earning assets
3.11%Net interest margin
5.61%Noninterest income to earning assets
1.05%Noninterest expense to earning assets
4.33%Net operating income to assets
1.25%Return on assets (ROA)
1.25%Pretax return on assets
1.88%Return on equity (ROE)
12.81%Retained earnings to average equity (YTD only)
3.66%Net charge-offs to loans
0.51%Credit loss provision to net charge-offs
79.18%Efficiency ratio
65,020Assets per employee
2.23%Cash dividends to net income (YTD only)
Condition Ratios (%)
71.43%Loss allowance to loans
1.81%Loss allowance to noncurrent loans
224.04%Noncurrent assets plus other real estate owned to assets
0.61%Noncurrent loans to loans
0.81%Net loans and leases to deposits
85.56%Net loans and leases to core deposits
89.42%Equity capital to assets
9.72%Core capital (leverage) ratio
10.12%Tier 1 risk-based capital ratio
13.22%Total risk-based capital ratio
Memoranda
$14Average assets
$168,484Average earning assets
$16,391Average equity
$159,543Average loans

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