Baybank in Gladstone, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


Baybank - Overview

  • General
  • FDIC Certificate #: 1092
    Status: Active
    Federal Reserve ID: 242958
    Bank Holding Company (Regulatory Top Holder): Baybank Corporation (RSSDID: 2533070, Location: Gladstone, MI)
    Date Established: July 01, 1912
    WWW: http://www.baybank.us
    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 #: 9679
    FDIC's unique #: 737
    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: January 01, 1934
    Last Structure Change Effective Date: December 01, 2008
    Last Structure Change Process Date: December 03, 2008
    Last Data Update: December 03, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 104 South Tenth Street, Gladstone, MI 49837
    County: Delta
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Appleton
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Core Based Statistical Area (CBSA): Escanaba, MI (#21540)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $81.4 mil
    Equity capital: $9.2 mil
    Deposits held in domestic offices: $68.9 mil
    Return on assets (ROA): 0.77% ($0.6 mil)
    Quarterly return on assets: 0.84% ($0.7 mil)
    Return on Equity (ROE): 6.90% ($0.6 mil)
    Quarterly return on equity: 7.34% ($0.7 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.98% ($797.4 mil)
    Quarterly Pretax return on assets: 1.12% ($911.3 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
  • 29Total employees (full-time equivalent)
  • $81,369Total assets
  • $4,517Cash and due from depository institutions
  • $583Interest-bearing balances
  • $25,602Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $46,178Net loans & leases
  • $679Loan loss allowance
  • $0Trading account assets
  • $2,724Bank premises and fixed assets
  • $435Other real estate owned
  • $0Goodwill and other intangibles
  • $81,369Life insurance assets
  • $1,913All other assets
  • $72,137Total liabilities and capital
  • $68,886Total liabilities
  • $62,243Total deposits
  • $68,886Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,400Trading liabilities
  • $0Other borrowed funds
  • $851Subordinated debt
  • $9,232All other liabilities
  • $9,232Total equity capital
  • $9,232Total bank equity capital
  • $0Perpetual preferred stock
  • $962Common stock
  • $4,000Surplus
  • $4,270Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $214Income earned, not collected on loans
  • $0Earning assets
  • $361Long-term assets (5+ years)
  • $72,363Average Assets, year-to-date
  • $28,562Average Assets, quarterly
  • $81,384Volatile liabilities
  • $81,294Insider loans
  • $55,597FHLB advances
  • $82,185Loans and leases held for sale
  • $809Unused loan commitments
  • $809Tier 1 (core) risk-based capital
  • $8,559Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,023Restructured Loans and leases
  • $2,159Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,880Total interest income
  • $813Total interest expense
  • $3,067Net interest income
  • $180Provision for loan and lease losses
  • $480Total noninterest income
  • $0Fiduciary activities
  • $133Service charges on deposit accounts
  • $0Trading account gains & fees
  • $347Additional noninterest income
  • $2,587Total noninterest expense
  • $1,397Salaries and employee benefits
  • $465Premises and equipment expense
  • $725Additional noninterest expense
  • $780Pre-tax net operating income
  • $20Securities gains (losses)
  • $176Applicable income taxes
  • $624Income before extraordinary items
  • $0Extraordinary gains - net
  • $624Net income attributable to bank
  • $0Net charge-offs
  • $624Cash dividends
  • $63Sale, conversion, retirement of capital stock, net
  • $340Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.36%Yield on earning assets
  • 1.12%Cost of funding earning assets
  • 4.24%Net interest margin
  • 0.66%Noninterest income to earning assets
  • 3.58%Noninterest expense to earning assets
  • 0.75%Net operating income to assets
  • 0.77%Return on assets (ROA)
  • 0.98%Pretax return on assets
  • 6.90%Return on equity (ROE)
  • 3.14%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 285.71%Credit loss provision to net charge-offs
  • 15.24%Efficiency ratio
  • 72,935Assets per employee
  • 2.81%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.49%Loss allowance to loans
  • 1.45%Loss allowance to noncurrent loans
  • 317.29%Noncurrent assets plus other real estate owned to assets
  • 1.20%Noncurrent loans to loans
  • 0.46%Net loans and leases to deposits
  • 67.04%Net loans and leases to core deposits
  • 71.07%Equity capital to assets
  • 11.35%Core capital (leverage) ratio
  • 10.41%Tier 1 risk-based capital ratio
  • 15.39%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $81,384Average earning assets
  • $9,044Average equity
  • $72,343Average loans

List of branches

  • 4 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0737Baybank104 South Tenth Street, Gladstone, MI 49837July 01, 1912Full Service Brick and Mortar
    1187894Rapid River BranchU.S. 2 And 41, Rapid River, MI 49878August 13, 1979Full Service Brick and Mortar
    2187895Escanaba Branch2404 Third Avenue North, Escanaba, MI 49829July 10, 1989Full Service Brick and Mortar
    3418750Wells Township Branch6615 North Us 2/41, Escanaba, MI 49829April 07, 2003Full Service Brick and Mortar

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