FMB-Sault Bank in Sault Ste. Marie, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

  • FMB-Sault Bank in Sault Ste. Marie, Michigan (MI)
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FMB-Sault Bank - Overview

  • General
  • FDIC Certificate #: 1096
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The Huntington National Bank (#6560)
    Federal Reserve ID: 266057
    Date Established: November 20, 1886
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    OTS Docket #: 9721
    FDIC's unique #: 741
    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: 511-515 Ashmun Street, Sault Ste. Marie, MI 49783
    County: Chippewa
    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
    Core Based Statistical Area (CBSA): Sault Ste. Marie, MI (#42300)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $135.4 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)
  • $57Total assets
  • $127,283Cash and due from depository institutions
  • $3,630Interest-bearing balances
  • $43Securities
  • $31,270Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $88,135Loan loss allowance
  • $1,116Trading account assets
  • $0Bank premises and fixed assets
  • $2,014Other real estate owned
  • $0Goodwill and other intangibles
  • $2,234Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $127,283Total liabilities
  • $118,023Total deposits
  • $109,888Interest-bearing deposits
  • $97,937Deposits held in domestic offices
  • 109888.00%% insured (estimated)
  • $87Federal funds purchased & repurchase agreements
  • $6,050Trading liabilities
  • $0Other borrowed funds
  • $485Subordinated debt
  • $0All other liabilities
  • $1,600Total equity capital
  • $1,600Total bank equity capital
  • $9,260Perpetual preferred stock
  • $0Common stock
  • $1,500Surplus
  • $7,500Undivided profits
  • Memoranda
  • $260Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $53Income earned, not collected on loans
  • $543Earning assets
  • $119,448Long-term assets (5+ years)
  • $6,338Average Assets, year-to-date
  • $122,242Average Assets, quarterly
  • $125,525Volatile liabilities
  • $23,016Insider loans
  • $815FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $15,520Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $9,263Total risk weighted assets
  • $85,432Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $9,873Total interest expense
  • $4,737Net interest income
  • $5,136Provision for loan and lease losses
  • $90Total noninterest income
  • $756Fiduciary activities
  • $0Service charges on deposit accounts
  • $153Trading account gains & fees
  • $0Additional noninterest income
  • $603Total noninterest expense
  • $3,548Salaries and employee benefits
  • $2,152Premises and equipment expense
  • $526Additional noninterest expense
  • $870Pre-tax net operating income
  • $2,254Securities gains (losses)
  • $0Applicable income taxes
  • $612Income before extraordinary items
  • $1,642Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,642Net charge-offs
  • $15Cash dividends
  • $1,800Sale, 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
  • 8.60%Cost of funding earning assets
  • 4.13%Net interest margin
  • 4.48%Noninterest income to earning assets
  • 0.66%Noninterest expense to earning assets
  • 3.09%Net operating income to assets
  • 1.34%Return on assets (ROA)
  • 1.34%Pretax return on assets
  • 1.84%Return on equity (ROE)
  • 17.60%Retained earnings to average equity (YTD only)
  • -1.69%Net charge-offs to loans
  • 0.02%Credit loss provision to net charge-offs
  • 600.00%Efficiency ratio
  • 60,217Assets per employee
  • 2.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 109.62%Loss allowance to loans
  • 1.25%Loss allowance to noncurrent loans
  • 2105.66%Noncurrent assets plus other real estate owned to assets
  • 0.04%Noncurrent loans to loans
  • 0.06%Net loans and leases to deposits
  • 80.20%Net loans and leases to core deposits
  • 94.36%Equity capital to assets
  • 7.28%Core capital (leverage) ratio
  • 7.33%Tier 1 risk-based capital ratio
  • 10.84%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $122,242Average earning assets
  • $9,328Average equity
  • $114,761Average loans

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