Fifth Third Bank in Grand Rapids, Michigan (MI)



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Fifth Third Bank
GeneralFDIC Certificate #: 993
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fifth Third Bank (#6672)
Federal Reserve ID: 913940
Date Established: January 01, 1853
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 847 (Interstate: No)
OTS Docket #: 13249
FDIC's unique #: 655
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 30, 2009
Last Structure Change Process Date: October 05, 2009
Last Data Update: October 05, 2009
Data Source Date: April 05, 2012
LocationAddress: One Vandenberg Center, Grand Rapids, MI 49503
County: Kent
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): Grand Rapids-Muskegon-Holland, MI (#3000)
Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
Financial SummaryTotal assets: $50,893.6 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)7,364
Total assets$54,116,388
Cash and due from depository institutions$6,007,918
Interest-bearing balances$5,592,513
Securities$5,105,115
Federal funds sold & reverse repurchase agreements$11,072
Net loans & leases$36,623,796
Loan loss allowance $1,431,249
Trading account assets$1,171,490
Bank premises and fixed assets$1,408,897
Other real estate owned$80,972
Goodwill and other intangibles$1,178,197
All other assets$2,528,931
Life insurance assets$924,691
Total liabilities and capital$54,116,388
Total liabilities$47,732,410
Total deposits$39,964,858
Interest-bearing deposits$32,584,633
Deposits held in domestic offices$39,964,858
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $5,184,390
Trading liabilities$829,508
Other borrowed funds $526,619
Subordinated debt $320,000
All other liabilities $907,035
Total equity capital$6,383,978
Total bank equity capital$6,383,978
Perpetual preferred stock$6,383,978
Common stock$0
Surplus$16,379
Undivided profits $5,453,849
Memoranda
Noncurrent loans and leases $913,750
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $24,446,974
Income earned, not collected on loans $0
Earning assets $1,988,801
Long-term assets (5+ years) $22,499
Average Assets, year-to-date $174,738
Average Assets, quarterly $47,688,977
Volatile liabilities $9,059,462
Insider loans $53,945,395
FHLB advances $53,990,624
Loans and leases held for sale $10,549,493
Unused loan commitments $286,377
Tier 1 (core) risk-based capital $473,442
Tier 2 risk-based capital $22,288,740
Total risk weighted assets $455,483
Total unused commitments $24,446,974
Restructured Loans and leases $35,744
Derivatives$970,095
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $2,662,803
Total interest expense $826,134
Net interest income $1,836,669
Provision for loan and lease losses $2,857,850
Total noninterest income $643,751
Fiduciary activities $79,197
Service charges on deposit accounts $333,268
Trading account gains & fees $21,616
Additional noninterest income $209,670
Total noninterest expense $1,997,416
Salaries and employee benefits $492,829
Premises and equipment expense $217,919
Additional noninterest expense $1,286,668
Pre-tax net operating income -$2,374,846
Securities gains (losses) -$17,637
Applicable income taxes -$702,748
Income before extraordinary items -$1,689,735
Extraordinary gains - net $0
Net income attributable to bank -$1,689,735
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $1,949,112
Net operating income $0
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.56%
Cost of funding earning assets 1.73%
Net interest margin 3.84%
Noninterest income to earning assets 1.34%
Noninterest expense to earning assets 4.17%
Net operating income to assets -3.11%
Return on assets (ROA) -3.13%
Pretax return on assets -4.44%
Return on equity (ROE) -26.64%
Retained earnings to average equity (YTD only) -26.64%
Net charge-offs to loans 4.76%
Credit loss provision to net charge-offs 146.62%
Efficiency ratio0.25%
Assets per employee$61,911
Cash dividends to net income (YTD only)7.35%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.76%
Noncurrent assets plus other real estate owned to assets 71.97%
Noncurrent loans to loans 3.82%
Net loans and leases to deposits5.23%
Net loans and leases to core deposits 91.64%
Equity capital to assets 101.94%
Core capital (leverage) ratio 11.80%
Tier 1 risk-based capital ratio 10.20%
Total risk-based capital ratio 10.80%
Memoranda
Average assets$13
Average earning assets$53,945,395
Average equity $6,344,009
Average loans $47,888,287
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Total Fiduciary and Related Assets (December 31, 2008)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$12,635,159
Number of Accounts1
Personal trust and agency accounts$9,269,782
Employee benefit-defined contribution accounts$3,032,387
Employee benefit-defined benefit accounts$247,064
Other retirement accounts$520,608
Corporate trust and agency accounts$1,073,167
Investment management agency accounts$0
Other fiduciary accounts$4,263,556
Fiduciary accounts held in foreign offices$0
Non-managed Assets$133,000
Number of Accounts13320
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$3,365,377
Corporate trust and agency accounts$662,065
Other fiduciary accounts$1,349,546
Fiduciary accounts held in foreign offices$959,019
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Bank Assets Sold and Securitized (December 31, 2008)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $0
Home equity lines$273,345
Credit cards receivables$0
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$0
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