Eaton Federal Savings Bank in Charlotte, Michigan (MI)



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Eaton Federal Savings Bank
GeneralFDIC Certificate #: 29846
Status: Active
Federal Reserve ID: 980773
Date Established: January 01, 1936
WWW: http://www.eatonfed.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 4194
FDIC's unique #: 42680
Numeric code: 34
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: March 27, 1937
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 236 South Cochran Avenue, Charlotte, MI 48813
County: Eaton
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Grand Rapids
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Lansing-East Lansing, MI (#4040)
Combined Statistical Area (CSA): Lansing-East Lansing-Owosso, MI (#330)
Core Based Statistical Area (CBSA): Lansing-East Lansing, MI (#29620)
CBSA Metro Statistical Area: Lansing-East Lansing, MI (#29620)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $321.9 mil
Equity capital: $44.9 mil
Deposits held in domestic offices: $254.2 mil
Return on assets (ROA): 0.32% ($1.0 mil)
Quarterly return on assets: -0.56% (-$1.8 mil)
Return on Equity (ROE): 2.25% ($1.0 mil)
Quarterly return on equity: -3.98% (-$1.8 mil)
Net income: $1.0 mil
Quarterly Net income: -$0.5 mil
Pretax return on assets: 0.48% ($1,545.0 mil)
Quarterly Pretax return on assets: -0.87% (-$2,800.3 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)63
Total assets$321,868
Cash and due from depository institutions$24,492
Interest-bearing balances$21,072
Securities$82,973
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$191,245
Loan loss allowance $3,132
Trading account assets$0
Bank premises and fixed assets$3,853
Other real estate owned$1,546
Goodwill and other intangibles$213
All other assets$17,546
Life insurance assets$321,868
Total liabilities and capital$276,963
Total liabilities$254,158
Total deposits$244,398
Interest-bearing deposits$254,158
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$22,300
Other borrowed funds $0
Subordinated debt $505
All other liabilities $44,905
Total equity capital$44,905
Total bank equity capital$44,905
Perpetual preferred stock$0
Common stock$0
Surplus$0
Undivided profits $44,905
Memoranda
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 $6,953
Earning assets $0
Long-term assets (5+ years) $1,020
Average Assets, year-to-date $295,290
Average Assets, quarterly $0
Volatile liabilities $318,116
Insider loans $321,197
FHLB advances $146,016
Loans and leases held for sale $321,254
Unused loan commitments $11,507
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $44,291
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,840
Derivatives$2,316
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,896
Total interest expense $4,017
Net interest income $9,879
Provision for loan and lease losses $1,355
Total noninterest income $717
Fiduciary activities $0
Service charges on deposit accounts $406
Trading account gains & fees $0
Additional noninterest income $311
Total noninterest expense $7,996
Salaries and employee benefits $4,334
Premises and equipment expense $1,172
Additional noninterest expense $2,490
Pre-tax net operating income $1,245
Securities gains (losses) $279
Applicable income taxes $520
Income before extraordinary items $1,004
Extraordinary gains - net $0
Net income attributable to bank $1,004
Net charge-offs $0
Cash dividends $1,004
Sale, conversion, retirement of capital stock, net $2,212
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.71%
Cost of funding earning assets 1.36%
Net interest margin 3.35%
Noninterest income to earning assets 0.24%
Noninterest expense to earning assets 2.71%
Net operating income to assets 0.26%
Return on assets (ROA) 0.32%
Pretax return on assets 0.48%
Return on equity (ROE) 2.25%
Retained earnings to average equity (YTD only) 2.25%
Net charge-offs to loans 1.07%
Credit loss provision to net charge-offs 61.26%
Efficiency ratio1.18%
Assets per employee$75,462
Cash dividends to net income (YTD only)5.11%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.61%
Noncurrent assets plus other real estate owned to assets 45.05%
Noncurrent loans to loans 2.64%
Net loans and leases to deposits3.58%
Net loans and leases to core deposits 75.25%
Equity capital to assets 91.82%
Core capital (leverage) ratio 13.95%
Tier 1 risk-based capital ratio 13.79%
Total risk-based capital ratio 30.33%
Memoranda
Average assets$32
Average earning assets$318,116
Average equity $44,593
Average loans $295,295
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5 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
042680Eaton Federal Savings Bank236 South Cochran Avenue, Charlotte, MI 48813January 01, 1936Full Service Brick and Mortar
1277452307 South Main Branch307 South Main, Eaton Rapids, MI 48827January 01, 1936Full Service Brick and Mortar
2277453109 S Main Branch109 South Main, Nashville, MI 49073January 01, 1936Full Service Brick and Mortar
100277454103 S Main Branch103 South Main, Olivet, MI 49076January 01, 1936Full Service Brick and Mortar
101277455Grand Ledge Branch500 South Clinton, Grand Ledge, MI 48837January 11, 1993Full Service Brick and Mortar
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