Eastern Michigan Bank in Croswell, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Eastern Michigan Bank in Croswell, Michigan (MI)
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Eastern Michigan Bank - Overview

  • General
  • FDIC Certificate #: 982
    Status: Active
    Federal Reserve ID: 643340
    Bank Holding Company (Regulatory Top Holder): Eastern Michigan Financial Corporation (RSSDID: 1129467, Location: Croswell, MI)
    Date Established: December 04, 1895
    WWW: http://www.easternmichiganbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 11446
    FDIC's unique #: 646
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 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: 65 North Howard Avenue, Croswell, MI 48422
    County: Sanilac
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $259.8 mil
    Equity capital: $24.9 mil
    Deposits held in domestic offices: $233.8 mil
    Return on assets (ROA): 0.61% ($1.6 mil)
    Quarterly return on assets: 0.44% ($1.1 mil)
    Return on Equity (ROE): 6.42% ($1.6 mil)
    Quarterly return on equity: 4.54% ($1.1 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.77% ($2,000.1 mil)
    Quarterly Pretax return on assets: 0.46% ($1,194.9 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
  • 84Total employees (full-time equivalent)
  • $259,758Total assets
  • $28,945Cash and due from depository institutions
  • $24,302Interest-bearing balances
  • $73,889Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $141,321Net loans & leases
  • $2,796Loan loss allowance
  • $0Trading account assets
  • $5,589Bank premises and fixed assets
  • $2,690Other real estate owned
  • $269Goodwill and other intangibles
  • $259,758Life insurance assets
  • $7,055All other assets
  • $234,831Total liabilities and capital
  • $233,771Total liabilities
  • $190,930Total deposits
  • $233,771Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,060Subordinated debt
  • $24,927All other liabilities
  • $24,927Total equity capital
  • $24,927Total bank equity capital
  • $0Perpetual preferred stock
  • $1,600Common stock
  • $8,433Surplus
  • $14,894Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,719Income earned, not collected on loans
  • $611Earning assets
  • $1,125Long-term assets (5+ years)
  • $239,512Average Assets, year-to-date
  • $29,916Average Assets, quarterly
  • $256,317Volatile liabilities
  • $258,058Insider loans
  • $143,239FHLB advances
  • $255,234Loans and leases held for sale
  • $3,626Unused loan commitments
  • $2,412Tier 1 (core) risk-based capital
  • $24,543Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,214Total unused commitments
  • $26,250Restructured Loans and leases
  • $4,352Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,337Total interest income
  • $1,664Total interest expense
  • $8,673Net interest income
  • $933Provision for loan and lease losses
  • $1,271Total noninterest income
  • $0Fiduciary activities
  • $819Service charges on deposit accounts
  • $0Trading account gains & fees
  • $452Additional noninterest income
  • $7,042Total noninterest expense
  • $3,759Salaries and employee benefits
  • $1,003Premises and equipment expense
  • $2,280Additional noninterest expense
  • $1,969Pre-tax net operating income
  • $4Securities gains (losses)
  • $404Applicable income taxes
  • $1,569Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,569Net income attributable to bank
  • $0Net charge-offs
  • $1,569Cash dividends
  • $1,293Sale, conversion, retirement of capital stock, net
  • $642Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.38%Yield on earning assets
  • 0.70%Cost of funding earning assets
  • 3.67%Net interest margin
  • 0.54%Noninterest income to earning assets
  • 2.98%Noninterest expense to earning assets
  • 0.61%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 0.77%Pretax return on assets
  • 6.42%Return on equity (ROE)
  • 3.79%Retained earnings to average equity (YTD only)
  • 0.86%Net charge-offs to loans
  • 72.16%Credit loss provision to net charge-offs
  • 2.24%Efficiency ratio
  • 70,817Assets per employee
  • 3.09%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.92%Loss allowance to loans
  • 1.94%Loss allowance to noncurrent loans
  • 59.25%Noncurrent assets plus other real estate owned to assets
  • 2.85%Noncurrent loans to loans
  • 3.27%Net loans and leases to deposits
  • 60.45%Net loans and leases to core deposits
  • 61.91%Equity capital to assets
  • 9.60%Core capital (leverage) ratio
  • 9.62%Tier 1 risk-based capital ratio
  • 17.13%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $256,317Average earning assets
  • $24,458Average equity
  • $236,048Average loans

List of branches

  • 11 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0646Eastern Michigan Bank65 North Howard Avenue, Croswell, MI 48422December 04, 1895Full Service Brick and Mortar
    1186828Lexington Branch5446 Main Street, Lexington, MI 48450June 01, 1961Full Service Brick and Mortar
    2186829Lakeport Branch7090 Lakeshore Road, Port Huron, MI 48060September 13, 1971Full Service Brick and Mortar
    3186830Drive-In Branch5200 East Peck Road, Croswell, MI 48422September 11, 1978Limited Service Facility
    4186831Loan Center Branch66 North Howard Avenue, Croswell, MI 48422May 05, 1986Limited Service Loan Production
    5186832Port Huron Branch600 Water Street, Port Huron, MI 48060December 17, 1990Full Service Brick and Mortar
    7235274Sandusky Area Branch324 South Elk Street, Sandusky, MI 48471August 14, 1979Full Service Brick and Mortar
    8235275Deckerville Branch3636 Main Street, Deckerville, MI 48427June 01, 1981Full Service Brick and Mortar
    9222675Minden City Branch1728 Main Street, Minden City, MI 48456March 23, 1964Full Service Brick and Mortar
    10365919Fort Gratiot Office3061 Krafft Road, Fort Gratiot, MI 48059October 07, 2002Full Service Brick and Mortar
    11465218Marysville Branch2970 Gratiot Boulevard, Marysville, MI 48040December 04, 2006Full Service Brick and Mortar

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