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

Chelsea State Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 52Total employees (full-time equivalent)
  • $229,416Total assets
  • $24,482Cash and due from depository institutions
  • $19,932Interest-bearing balances
  • $54,296Securities
  • $185Federal funds sold & reverse repurchase agreements
  • $135,665Net loans & leases
  • $3,829Loan loss allowance
  • $0Trading account assets
  • $3,917Bank premises and fixed assets
  • $1,922Other real estate owned
  • $0Goodwill and other intangibles
  • $229,416Life insurance assets
  • $8,949All other assets
  • $203,707Total liabilities and capital
  • $199,890Total liabilities
  • $153,234Total deposits
  • $199,890Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,000Trading liabilities
  • $0Other borrowed funds
  • $817Subordinated debt
  • $25,709All other liabilities
  • $25,709Total equity capital
  • $25,709Total bank equity capital
  • $0Perpetual preferred stock
  • $3,200Common stock
  • $12,800Surplus
  • $9,709Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,602Income earned, not collected on loans
  • $0Earning assets
  • $828Long-term assets (5+ years)
  • $210,078Average Assets, year-to-date
  • $26,635Average Assets, quarterly
  • $230,332Volatile liabilities
  • $227,654Insider loans
  • $158,907FHLB advances
  • $226,444Loans and leases held for sale
  • $6,425Unused loan commitments
  • $4,348Tier 1 (core) risk-based capital
  • $23,658Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,077Total unused commitments
  • $24,540Restructured Loans and leases
  • $2,348Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,149Total interest income
  • $1,209Total interest expense
  • $8,940Net interest income
  • $1,300Provision for loan and lease losses
  • $1,109Total noninterest income
  • $0Fiduciary activities
  • $492Service charges on deposit accounts
  • $0Trading account gains & fees
  • $617Additional noninterest income
  • $7,208Total noninterest expense
  • $3,612Salaries and employee benefits
  • $772Premises and equipment expense
  • $2,824Additional noninterest expense
  • $1,541Pre-tax net operating income
  • $10Securities gains (losses)
  • $132Applicable income taxes
  • $1,419Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,419Net income attributable to bank
  • $0Net charge-offs
  • $1,419Cash dividends
  • $1,565Sale, conversion, retirement of capital stock, net
  • $427Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.78%Yield on earning assets
  • 0.57%Cost of funding earning assets
  • 4.21%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • 0.61%Net operating income to assets
  • 0.62%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 5.87%Return on equity (ROE)
  • 4.10%Retained earnings to average equity (YTD only)
  • 1.14%Net charge-offs to loans
  • 83.07%Credit loss provision to net charge-offs
  • 1.82%Efficiency ratio
  • 71,729Assets per employee
  • 4.41%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 30.09%Loss allowance to loans
  • 2.74%Loss allowance to noncurrent loans
  • 68.35%Noncurrent assets plus other real estate owned to assets
  • 3.28%Noncurrent loans to loans
  • 4.02%Net loans and leases to deposits
  • 67.87%Net loans and leases to core deposits
  • 68.91%Equity capital to assets
  • 11.21%Core capital (leverage) ratio
  • 10.45%Tier 1 risk-based capital ratio
  • 14.89%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $230,332Average earning assets
  • $24,181Average equity
  • $212,249Average loans

List of branches

  • 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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