Commercial National Bank of L'Anse in L'anse, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2009

  • Commercial National Bank of L'Anse in L'anse, Michigan (MI)
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Commercial National Bank of L'Anse - Overview

  • General
  • FDIC Certificate #: 10548
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Superior National Bank & Trust Company (#5058)
    Federal Reserve ID: 351355
    Date Established: July 17, 1912
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    FDIC's unique #: 6754
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 01, 2009
    Last Structure Change Process Date: March 03, 2009
    Last Data Update: March 03, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 East Broad Street, L'anse, MI 49946
    County: Baraga
    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
  • Financial Summary
  • Total assets: $65.6 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, 2008)

  • Dollar figures in thousands
  • 17Total employees (full-time equivalent)
  • $65,572Total assets
  • $2,456Cash and due from depository institutions
  • $99Interest-bearing balances
  • $24,253Securities
  • $100Federal funds sold & reverse repurchase agreements
  • $36,278Net loans & leases
  • $495Loan loss allowance
  • $0Trading account assets
  • $1,252Bank premises and fixed assets
  • $486Other real estate owned
  • $169Goodwill and other intangibles
  • $0Life insurance assets
  • $578All other assets
  • $65,572Total liabilities and capital
  • $57,325Total liabilities
  • $56,710Total deposits
  • $51,000Interest-bearing deposits
  • $56,710Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $615All other liabilities
  • $8,247Total equity capital
  • $8,247Total bank equity capital
  • $8,247Perpetual preferred stock
  • $0Common stock
  • $600Surplus
  • $3,697Undivided profits
  • Memoranda
  • $3,950Noncurrent loans and leases
  • $715Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $144Earning assets
  • $0Long-term assets (5+ years)
  • $387Average Assets, year-to-date
  • $60,730Average Assets, quarterly
  • $10,360Volatile liabilities
  • $66,045Insider loans
  • $65,813FHLB advances
  • $7,542Loans and leases held for sale
  • $92Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $715Total unused commitments
  • $0Restructured Loans and leases
  • $447Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $3,804Total interest income
  • $1,386Total interest expense
  • $2,418Net interest income
  • $75Provision for loan and lease losses
  • $228Total noninterest income
  • $0Fiduciary activities
  • $155Service charges on deposit accounts
  • $0Trading account gains & fees
  • $73Additional noninterest income
  • $1,715Total noninterest expense
  • $940Salaries and employee benefits
  • $281Premises and equipment expense
  • $494Additional noninterest expense
  • $856Pre-tax net operating income
  • $0Securities gains (losses)
  • $165Applicable income taxes
  • $691Income before extraordinary items
  • $0Extraordinary gains - net
  • $691Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $125Sale, conversion, retirement of capital stock, net
  • $465Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.18%Yield on earning assets
  • 2.25%Cost of funding earning assets
  • 3.93%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 2.79%Noninterest expense to earning assets
  • 1.05%Net operating income to assets
  • 1.05%Return on assets (ROA)
  • 1.30%Pretax return on assets
  • 8.76%Return on equity (ROE)
  • 2.86%Retained earnings to average equity (YTD only)
  • 0.34%Net charge-offs to loans
  • 60.00%Credit loss provision to net charge-offs
  • 7.45%Efficiency ratio
  • 64,815Assets per employee
  • 3.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 67.29%Loss allowance to loans
  • 1.35%Loss allowance to noncurrent loans
  • 343.75%Noncurrent assets plus other real estate owned to assets
  • 0.96%Noncurrent loans to loans
  • 0.39%Net loans and leases to deposits
  • 63.97%Net loans and leases to core deposits
  • 73.78%Equity capital to assets
  • 12.58%Core capital (leverage) ratio
  • 11.56%Tier 1 risk-based capital ratio
  • 21.45%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $66,045Average earning assets
  • $7,892Average equity
  • $61,531Average loans

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