Farmers State Bank of Munith in Munith, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Farmers State Bank of Munith in Munith, Michigan (MI)
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Farmers State Bank of Munith - Overview

  • General
  • FDIC Certificate #: 15011
    Status: Active
    Federal Reserve ID: 554941
    Date Established: September 02, 1922
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 12691
    FDIC's unique #: 9411
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: Febuary 04, 1935
    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: 201 North Main Street, Munith, MI 49259
    County: Jackson
    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
    Metropolitan Statistical Area (MSA): Jackson, MI (#3520)
    Core Based Statistical Area (CBSA): Jackson, MI (#27100)
    CBSA Metro Statistical Area: Jackson, MI (#27100)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $63.4 mil
    Equity capital: $5.4 mil
    Deposits held in domestic offices: $56.3 mil
    Return on assets (ROA): 0.16% ($0.1 mil)
    Quarterly return on assets: 0.18% ($0.1 mil)
    Return on Equity (ROE): 1.89% ($0.1 mil)
    Quarterly return on equity: 2.10% ($0.1 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.16% ($101.5 mil)
    Quarterly Pretax return on assets: -0.04% (-$25.4 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
  • 26Total employees (full-time equivalent)
  • $63,444Total assets
  • $11,577Cash and due from depository institutions
  • $7,473Interest-bearing balances
  • $8,632Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $41,210Net loans & leases
  • $945Loan loss allowance
  • $0Trading account assets
  • $807Bank premises and fixed assets
  • $342Other real estate owned
  • $81Goodwill and other intangibles
  • $63,444Life insurance assets
  • $795All other assets
  • $58,090Total liabilities and capital
  • $56,340Total liabilities
  • $47,914Total deposits
  • $56,340Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,619Trading liabilities
  • $0Other borrowed funds
  • $131Subordinated debt
  • $5,354All other liabilities
  • $5,354Total equity capital
  • $5,354Total bank equity capital
  • $0Perpetual preferred stock
  • $150Common stock
  • $3,850Surplus
  • $1,354Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $217Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,633Income earned, not collected on loans
  • $0Earning assets
  • $189Long-term assets (5+ years)
  • $57,315Average Assets, year-to-date
  • $15,600Average Assets, quarterly
  • $62,775Volatile liabilities
  • $62,803Insider loans
  • $34,476FHLB advances
  • $63,105Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,342Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,134Restructured Loans and leases
  • $429Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,819Total interest income
  • $626Total interest expense
  • $2,193Net interest income
  • $145Provision for loan and lease losses
  • $635Total noninterest income
  • $0Fiduciary activities
  • $255Service charges on deposit accounts
  • $0Trading account gains & fees
  • $380Additional noninterest income
  • $2,583Total noninterest expense
  • $1,224Salaries and employee benefits
  • $250Premises and equipment expense
  • $1,109Additional noninterest expense
  • $100Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $100Income before extraordinary items
  • $0Extraordinary gains - net
  • $100Net income attributable to bank
  • $0Net charge-offs
  • $100Cash dividends
  • $383Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.37%Yield on earning assets
  • 1.19%Cost of funding earning assets
  • 4.17%Net interest margin
  • 1.21%Noninterest income to earning assets
  • 4.92%Noninterest expense to earning assets
  • 0.16%Net operating income to assets
  • 0.16%Return on assets (ROA)
  • 0.16%Pretax return on assets
  • 1.89%Return on equity (ROE)
  • 1.89%Retained earnings to average equity (YTD only)
  • 0.87%Net charge-offs to loans
  • 37.86%Credit loss provision to net charge-offs
  • 0.64%Efficiency ratio
  • 91,337Assets per employee
  • 2.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.24%Loss allowance to noncurrent loans
  • 57.87%Noncurrent assets plus other real estate owned to assets
  • 3.11%Noncurrent loans to loans
  • 3.87%Net loans and leases to deposits
  • 73.15%Net loans and leases to core deposits
  • 74.94%Equity capital to assets
  • 8.44%Core capital (leverage) ratio
  • 8.47%Tier 1 risk-based capital ratio
  • 15.49%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $62,775Average earning assets
  • $5,300Average equity
  • $52,542Average loans

List of branches

  • 3 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09411Farmers State Bank Of Munith201 North Main Street, Munith, MI 49259September 02, 1922Full Service Brick and Mortar
    1232749Stockbridge Branch5101 South M-106, Stockbridge, MI 49285December 17, 1990Full Service Brick and Mortar
    2232750Grass Lake Branch12005 Michigan Avenue, Grass Lake, MI 49240November 06, 1995Full Service Brick and Mortar

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