FMB-Northwestern Bank in Boyne City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

FMB-Northwestern Bank in Boyne City, Michigan (MI)
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FMB-Northwestern Bank - Overview

General
FDIC Certificate #: 11399
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Huntington National Bank (#6560)
Federal Reserve ID: 214049
Date Established: January 01, 1901
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Interstate: No)
OTS Docket #: 14061
FDIC's unique #: 7276
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 30, 1997
Last Structure Change Process Date: October 06, 1997
Last Data Update: October 06, 1997
Data Source Date: April 05, 2012
Location
Address: 101 River Street, Boyne City, MI 49712
County: Charlevoix
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
Financial Summary
Total assets: $174.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$86Total assets
$163,416Cash and due from depository institutions
$7,863Interest-bearing balances
$13Securities
$53,922Federal funds sold & reverse repurchase agreements
$1,600Net loans & leases
$94,690Loan loss allowance
$1,200Trading account assets
$0Bank premises and fixed assets
$3,423Other real estate owned
$130Goodwill and other intangibles
$1,788Life insurance assets
$0All other assets
$0Total liabilities and capital
$163,416Total liabilities
$152,777Total deposits
$149,991Interest-bearing deposits
$132,104Deposits held in domestic offices
149991.00%% insured (estimated)
$83Federal funds purchased & repurchase agreements
$1,096Trading liabilities
$0Other borrowed funds
$1,000Subordinated debt
$0All other liabilities
$690Total equity capital
$690Total bank equity capital
$10,639Perpetual preferred stock
$0Common stock
$1,800Surplus
$4,100Undivided profits
Memoranda
$4,739Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$115Income earned, not collected on loans
$537Earning assets
$150,225Long-term assets (5+ years)
$24,048Average Assets, year-to-date
$155,758Average Assets, quarterly
$161,006Volatile liabilities
$22,425Insider loans
$1,460FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$10,481Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,523Total risk weighted assets
$93,119Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$12,103Total interest expense
$5,660Net interest income
$6,443Provision for loan and lease losses
$345Total noninterest income
$1,275Fiduciary activities
$26Service charges on deposit accounts
$696Trading account gains & fees
$0Additional noninterest income
$553Total noninterest expense
$5,169Salaries and employee benefits
$2,803Premises and equipment expense
$803Additional noninterest expense
$1,563Pre-tax net operating income
$2,204Securities gains (losses)
-$2Applicable income taxes
$505Income before extraordinary items
$1,697Extraordinary gains - net
$0Net income attributable to bank
$1,697Net charge-offs
$153Cash dividends
$1,000Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.36%Cost of funding earning assets
3.91%Net interest margin
4.45%Noninterest income to earning assets
0.88%Noninterest expense to earning assets
3.57%Net operating income to assets
1.09%Return on assets (ROA)
1.09%Pretax return on assets
1.41%Return on equity (ROE)
16.75%Retained earnings to average equity (YTD only)
6.88%Net charge-offs to loans
0.17%Credit loss provision to net charge-offs
225.49%Efficiency ratio
66,973Assets per employee
1.90%Cash dividends to net income (YTD only)
Condition Ratios (%)
58.93%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
1043.48%Noncurrent assets plus other real estate owned to assets
0.15%Noncurrent loans to loans
0.12%Net loans and leases to deposits
63.13%Net loans and leases to core deposits
73.60%Equity capital to assets
6.51%Core capital (leverage) ratio
6.65%Tier 1 risk-based capital ratio
11.30%Total risk-based capital ratio
Memoranda
$13Average assets
$155,758Average earning assets
$10,134Average equity
$144,734Average loans

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