Chelsea State Bank in Chelsea, Michigan (MI)

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Chelsea State Bank
GeneralFDIC Certificate #: 14009
Status: Active
Federal Reserve ID: 711548
Bank Holding Company (Regulatory Top Holder): Csb Bancorp, Inc. (RSSDID: 3306824, Location: Chelsea, MI)
Date Established: December 17, 1897
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 8758
Numeric code: 13
Regulator: FED
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: March 07, 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
LocationAddress: 1010 South Main Street, Chelsea, MI 48118
County: Washtenaw
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
Metropolitan Statistical Area (MSA): Ann Arbor, MI (#440)
Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
Core Based Statistical Area (CBSA): Ann Arbor, MI (#11460)
CBSA Metro Statistical Area: Ann Arbor, MI (#11460)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $229.4 mil
Equity capital: $25.7 mil
Deposits held in domestic offices: $199.9 mil
Return on assets (ROA): 0.62% ($1.4 mil)
Quarterly return on assets: 0.56% ($1.3 mil)
Return on Equity (ROE): 5.87% ($1.5 mil)
Quarterly return on equity: 5.05% ($1.3 mil)
Net income: $1.4 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 0.67% ($1,537.1 mil)
Quarterly Pretax return on assets: 0.63% ($1,445.3 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)
Total employees (full-time equivalent)52
Total assets$229,416
Cash and due from depository institutions$24,482
Interest-bearing balances$19,932
Federal funds sold & reverse repurchase agreements$185
Net loans & leases$135,665
Loan loss allowance $3,829
Trading account assets$0
Bank premises and fixed assets$3,917
Other real estate owned$1,922
Goodwill and other intangibles$0
All other assets$8,949
Life insurance assets$229,416
Total liabilities and capital$203,707
Total liabilities$199,890
Total deposits$153,234
Interest-bearing deposits$199,890
Deposits held in domestic offices$85
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,000
Other borrowed funds $0
Subordinated debt $817
All other liabilities $25,709
Total equity capital$25,709
Total bank equity capital$25,709
Perpetual preferred stock$0
Common stock$3,200
Undivided profits $9,709
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,602
Earning assets $0
Long-term assets (5+ years) $828
Average Assets, year-to-date $210,078
Average Assets, quarterly $26,635
Volatile liabilities $230,332
Insider loans $227,654
FHLB advances $158,907
Loans and leases held for sale $226,444
Unused loan commitments $6,425
Tier 1 (core) risk-based capital $4,348
Tier 2 risk-based capital $23,658
Total risk weighted assets $0
Total unused commitments $2,077
Restructured Loans and leases $24,540
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,149
Total interest expense $1,209
Net interest income $8,940
Provision for loan and lease losses $1,300
Total noninterest income $1,109
Fiduciary activities $0
Service charges on deposit accounts $492
Trading account gains & fees $0
Additional noninterest income $617
Total noninterest expense $7,208
Salaries and employee benefits $3,612
Premises and equipment expense $772
Additional noninterest expense $2,824
Pre-tax net operating income $1,541
Securities gains (losses) $10
Applicable income taxes $132
Income before extraordinary items $1,419
Extraordinary gains - net $0
Net income attributable to bank $1,419
Net charge-offs $0
Cash dividends $1,419
Sale, conversion, retirement of capital stock, net $1,565
Net operating income $427
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.78%
Cost of funding earning assets 0.57%
Net interest margin 4.21%
Noninterest income to earning assets 0.52%
Noninterest expense to earning assets 3.40%
Net operating income to assets 0.61%
Return on assets (ROA) 0.62%
Pretax return on assets 0.67%
Return on equity (ROE) 5.87%
Retained earnings to average equity (YTD only) 4.10%
Net charge-offs to loans 1.14%
Credit loss provision to net charge-offs 83.07%
Efficiency ratio1.82%
Assets per employee$71,729
Cash dividends to net income (YTD only)4.41%
Condition Ratios (%)
Loss allowance to loans 30.09%
Loss allowance to noncurrent loans 2.74%
Noncurrent assets plus other real estate owned to assets 68.35%
Noncurrent loans to loans 3.28%
Net loans and leases to deposits4.02%
Net loans and leases to core deposits 67.87%
Equity capital to assets 68.91%
Core capital (leverage) ratio 11.21%
Tier 1 risk-based capital ratio 10.45%
Total risk-based capital ratio 14.89%
Average assets$16
Average earning assets$230,332
Average equity $24,181
Average loans $212,249
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3 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08758Chelsea State Bank1010 South Main Street, Chelsea, MI 48118December 17, 1897Full Service Brick and Mortar
1230832Downtown Branch305 South Main, Chelsea, MI 48118Febuary 13, 1980Full Service Brick and Mortar
2361930Dexter Branch7101 Dexter-Ann Arbor Road, Dexter, MI 48130October 18, 2000Full Service Brick and Mortar
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