FDIC Certificate #: 28039 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Republic Bank (#20001) Federal Reserve ID: 797476 Date Established: January 01, 1889 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 45 (Interstate: No) OTS Docket #: 787 FDIC's unique #: 40873 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: April 25, 1952 Last Structure Change Effective Date: December 01, 2000 Last Structure Change Process Date: December 27, 2000 Last Data Update: December 27, 2000 Data Source Date: April 05, 2012
Location
Address: 400 Quincy Street, Hancock, MI 49930 County: Houghton 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 Core Based Statistical Area (CBSA): Houghton, MI (#26340) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $1,852.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1999)
Dollar figures in thousands
492Total employees (full-time equivalent)
$1,780,789Total assets
$54,115Cash and due from depository institutions
$7,640Interest-bearing balances
$147,290Securities
$91,500Federal funds sold & reverse repurchase agreements
$1,436,159Net loans & leases
$14,546Loan loss allowance
$0Trading account assets
$17,276Bank premises and fixed assets
$593Other real estate owned
$11,337Goodwill and other intangibles
$0Life insurance assets
$22,519All other assets
$1,780,789Total liabilities and capital
$1,647,955Total liabilities
$1,252,374Total deposits
$1,139,211Interest-bearing deposits
$1,252,374Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$376,003Other borrowed funds
$0Subordinated debt
$19,578All other liabilities
$132,834Total equity capital
$132,834Total bank equity capital
$132,834Perpetual preferred stock
$28,719Common stock
$37Surplus
$48,590Undivided profits
Memoranda
$55,488Noncurrent loans and leases
$155,429Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,543Earning assets
$379Long-term assets (5+ years)
$7,709Average Assets, year-to-date
$1,682,589Average Assets, quarterly
$816,860Volatile liabilities
$1,926,830Insider loans
$1,810,045FHLB advances
$384,689Loans and leases held for sale
$1,623Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$155,429Total unused commitments
$0Restructured Loans and leases
$14,546Derivatives
Income and Expense (December 31, 1999)
Dollar figures in thousands
$139,508Total interest income
$80,969Total interest expense
$58,539Net interest income
$8,100Provision for loan and lease losses
$12,645Total noninterest income
$0Fiduciary activities
$5,718Service charges on deposit accounts
$0Trading account gains & fees
$6,927Additional noninterest income
$58,210Total noninterest expense
$19,447Salaries and employee benefits
$3,666Premises and equipment expense
$35,097Additional noninterest expense
$4,874Pre-tax net operating income
-$8,101Securities gains (losses)
-$1,311Applicable income taxes
-$1,916Income before extraordinary items
$0Extraordinary gains - net
-$1,916Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$4,549Sale, conversion, retirement of capital stock, net
$2,723Net operating income
Performance and Condition Ratios (December 31, 1999)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.70%Yield on earning assets
4.47%Cost of funding earning assets
3.23%Net interest margin
0.70%Noninterest income to earning assets
3.21%Noninterest expense to earning assets
0.17%Net operating income to assets
-0.10%Return on assets (ROA)
-0.17%Pretax return on assets
-1.43%Return on equity (ROE)
-3.46%Retained earnings to average equity (YTD only)
0.32%Net charge-offs to loans
178.06%Credit loss provision to net charge-offs
2.85%Efficiency ratio
81,756Assets per employee
3.62%Cash dividends to net income (YTD only)
Condition Ratios (%)
-142.12%Loss allowance to loans
1.00%Loss allowance to noncurrent loans
410.56%Noncurrent assets plus other real estate owned to assets
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