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

Central State Bank - Overview

  • General
  • FDIC Certificate #: 14706
    Status: Active
    Federal Reserve ID: 682545
    Bank Holding Company (Regulatory Top Holder): Central-State Bancorp, Inc. (RSSDID: 1245666, Location: Traverse City, MI)
    Date Established: August 28, 1913
    WWW: http://www.icentralstatebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 11808
    FDIC's unique #: 9200
    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: September 04, 1934
    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: 49 Benzie Boulevard, Beulah, MI 49617
    County: Benzie
    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): Traverse City, MI (#45900)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $64.9 mil
    Equity capital: $8.6 mil
    Deposits held in domestic offices: $55.9 mil
    Return on assets (ROA): 0.24% ($0.2 mil)
    Quarterly return on assets: -0.25% (-$0.2 mil)
    Return on Equity (ROE): 1.89% ($0.2 mil)
    Quarterly return on equity: -2.03% (-$0.2 mil)
    Net income: $0.2 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: 0.36% ($233.5 mil)
    Quarterly Pretax return on assets: -0.31% (-$201.1 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
  • 20Total employees (full-time equivalent)
  • $64,856Total assets
  • $13,406Cash and due from depository institutions
  • $11,944Interest-bearing balances
  • $4,675Securities
  • $5,773Federal funds sold & reverse repurchase agreements
  • $36,604Net loans & leases
  • $368Loan loss allowance
  • $0Trading account assets
  • $1,780Bank premises and fixed assets
  • $573Other real estate owned
  • $1,021Goodwill and other intangibles
  • $64,856Life insurance assets
  • $1,024All other assets
  • $56,260Total liabilities and capital
  • $55,859Total liabilities
  • $44,058Total deposits
  • $55,859Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 46.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $355Subordinated debt
  • $8,596All other liabilities
  • $8,596Total equity capital
  • $8,596Total bank equity capital
  • $0Perpetual preferred stock
  • $240Common stock
  • $3,760Surplus
  • $4,596Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $308Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $927Income earned, not collected on loans
  • $322Earning assets
  • $252Long-term assets (5+ years)
  • $58,996Average Assets, year-to-date
  • $3,239Average Assets, quarterly
  • $65,335Volatile liabilities
  • $67,698Insider loans
  • $37,736FHLB advances
  • $65,712Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,413Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,869Restructured Loans and leases
  • $5,586Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,525Total interest income
  • $302Total interest expense
  • $2,223Net interest income
  • $401Provision for loan and lease losses
  • $795Total noninterest income
  • $0Fiduciary activities
  • $231Service charges on deposit accounts
  • $0Trading account gains & fees
  • $564Additional noninterest income
  • $2,383Total noninterest expense
  • $1,199Salaries and employee benefits
  • $240Premises and equipment expense
  • $944Additional noninterest expense
  • $234Pre-tax net operating income
  • $0Securities gains (losses)
  • $76Applicable income taxes
  • $158Income before extraordinary items
  • $0Extraordinary gains - net
  • $158Net income attributable to bank
  • $0Net charge-offs
  • $158Cash dividends
  • $466Sale, conversion, retirement of capital stock, net
  • $146Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.26%Yield on earning assets
  • 0.51%Cost of funding earning assets
  • 3.75%Net interest margin
  • 1.34%Noninterest income to earning assets
  • 4.02%Noninterest expense to earning assets
  • 0.24%Net operating income to assets
  • 0.24%Return on assets (ROA)
  • 0.36%Pretax return on assets
  • 1.89%Return on equity (ROE)
  • 0.14%Retained earnings to average equity (YTD only)
  • 1.23%Net charge-offs to loans
  • 86.05%Credit loss provision to net charge-offs
  • 1.36%Efficiency ratio
  • 78,960Assets per employee
  • 3.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 92.41%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 39.70%Noncurrent assets plus other real estate owned to assets
  • 2.31%Noncurrent loans to loans
  • 2.51%Net loans and leases to deposits
  • 65.53%Net loans and leases to core deposits
  • 75.01%Equity capital to assets
  • 13.25%Core capital (leverage) ratio
  • 12.80%Tier 1 risk-based capital ratio
  • 22.29%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $65,335Average earning assets
  • $8,380Average equity
  • $59,211Average loans

List of branches

  • 2 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09200Central State Bank49 Benzie Boulevard, Beulah, MI 49617August 28, 1913Full Service Brick and Mortar
    2254104Benzonia Branch1669 South Benzie Highway, Benzonia, MI 49616March 07, 1977Full Service Brick and Mortar

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