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

Bay Port State Bank - Overview

  • General
  • FDIC Certificate #: 15585
    Status: Active
    Federal Reserve ID: 961446
    Bank Holding Company (Regulatory Top Holder): Bay Port Financial Corporation (RSSDID: 2389978, Location: Bay Port, MI)
    Date Established: March 01, 1938
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 14349
    FDIC's unique #: 9872
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: March 03, 1938
    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: 9840 Main Street, Bay Port, MI 48720
    County: Huron
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $86.1 mil
    Equity capital: $6.2 mil
    Deposits held in domestic offices: $77.8 mil
    Return on assets (ROA): 0.28% ($0.2 mil)
    Quarterly return on assets: 0.32% ($0.3 mil)
    Return on Equity (ROE): 3.85% ($0.2 mil)
    Quarterly return on equity: 4.42% ($0.3 mil)
    Net income: $0.2 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.43% ($370.1 mil)
    Quarterly Pretax return on assets: 0.49% ($421.8 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
  • 24Total employees (full-time equivalent)
  • $86,073Total assets
  • $13,683Cash and due from depository institutions
  • $11,166Interest-bearing balances
  • $290Securities
  • $802Federal funds sold & reverse repurchase agreements
  • $68,573Net loans & leases
  • $697Loan loss allowance
  • $0Trading account assets
  • $988Bank premises and fixed assets
  • $70Other real estate owned
  • $0Goodwill and other intangibles
  • $86,073Life insurance assets
  • $1,667All other assets
  • $79,881Total liabilities and capital
  • $77,767Total liabilities
  • $64,229Total deposits
  • $77,767Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,500Trading liabilities
  • $0Other borrowed funds
  • $614Subordinated debt
  • $6,192All other liabilities
  • $6,192Total equity capital
  • $6,192Total bank equity capital
  • $0Perpetual preferred stock
  • $550Common stock
  • $4,625Surplus
  • $1,017Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $445Income earned, not collected on loans
  • $0Earning assets
  • $920Long-term assets (5+ years)
  • $80,831Average Assets, year-to-date
  • $9,222Average Assets, quarterly
  • $83,970Volatile liabilities
  • $85,060Insider loans
  • $56,397FHLB advances
  • $84,352Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,188Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,435Restructured Loans and leases
  • $2,204Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,108Total interest income
  • $1,107Total interest expense
  • $3,001Net interest income
  • $197Provision for loan and lease losses
  • $222Total noninterest income
  • $0Fiduciary activities
  • $132Service charges on deposit accounts
  • $0Trading account gains & fees
  • $90Additional noninterest income
  • $2,664Total noninterest expense
  • $1,460Salaries and employee benefits
  • $293Premises and equipment expense
  • $911Additional noninterest expense
  • $362Pre-tax net operating income
  • $0Securities gains (losses)
  • $126Applicable income taxes
  • $236Income before extraordinary items
  • $0Extraordinary gains - net
  • $236Net income attributable to bank
  • $0Net charge-offs
  • $236Cash dividends
  • $41Sale, conversion, retirement of capital stock, net
  • $156Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.20%Yield on earning assets
  • 1.40%Cost of funding earning assets
  • 3.80%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 3.37%Noninterest expense to earning assets
  • 0.28%Net operating income to assets
  • 0.28%Return on assets (ROA)
  • 0.43%Pretax return on assets
  • 3.85%Return on equity (ROE)
  • 1.31%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 480.49%Credit loss provision to net charge-offs
  • 13.63%Efficiency ratio
  • 82,656Assets per employee
  • 3.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 66.10%Loss allowance to loans
  • 1.01%Loss allowance to noncurrent loans
  • 156.63%Noncurrent assets plus other real estate owned to assets
  • 0.60%Noncurrent loans to loans
  • 0.64%Net loans and leases to deposits
  • 88.18%Net loans and leases to core deposits
  • 90.55%Equity capital to assets
  • 7.19%Core capital (leverage) ratio
  • 7.34%Tier 1 risk-based capital ratio
  • 10.97%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $83,970Average earning assets
  • $6,126Average equity
  • $78,976Average loans

List of branches

  • 3 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09872Bay Port State Bank9840 Main Street, Bay Port, MI 48720March 01, 1938Full Service Brick and Mortar
    1234578Pigeon BranchOne South Caseville Road, Pigeon, MI 48755November 29, 1982Full Service Brick and Mortar
    2234579Bad Axe Branch796 North Vandyke, Bad Axe, MI 48413December 18, 1995Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Bay Port State Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents