First Bank, Upper Michigan in Gladstone, Michigan (MI)

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First Bank, Upper Michigan routing number info

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First Bank, Upper Michigan
GeneralFDIC Certificate #: 14276
Status: Active
Federal Reserve ID: 239556
Bank Holding Company (Regulatory Top Holder): First Bancshares Corporation (RSSDID: 1978414, Location: Gladstone, MI)
Date Established: August 14, 1916
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 11028
FDIC's unique #: 8919
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: April 23, 1934
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
LocationAddress: 1400 Delta Avenue, Gladstone, MI 49837
County: Delta
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Appleton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Escanaba, MI (#21540)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $168.4 mil
Equity capital: $29.6 mil
Deposits held in domestic offices: $119.5 mil
Return on assets (ROA): 2.41% ($4.0 mil)
Quarterly return on assets: 2.45% ($4.1 mil)
Return on Equity (ROE): 14.56% ($4.4 mil)
Quarterly return on equity: 14.41% ($4.3 mil)
Net income: $4.1 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 2.41% ($4,059.3 mil)
Quarterly Pretax return on assets: 2.45% ($4,126.7 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)48
Total assets$168,435
Cash and due from depository institutions$5,072
Interest-bearing balances$36
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$123,676
Loan loss allowance $4,115
Trading account assets$0
Bank premises and fixed assets$2,155
Other real estate owned$1,317
Goodwill and other intangibles$155
All other assets$2,698
Life insurance assets$168,435
Total liabilities and capital$138,826
Total liabilities$119,537
Total deposits$108,175
Interest-bearing deposits$119,537
Deposits held in domestic offices$84
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$16,500
Other borrowed funds $0
Subordinated debt $2,789
All other liabilities $29,609
Total equity capital$29,609
Total bank equity capital$29,609
Perpetual preferred stock$0
Common stock$200
Undivided profits $23,509
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $446
Income earned, not collected on loans $6,373
Earning assets $0
Long-term assets (5+ years) $791
Average Assets, year-to-date $157,074
Average Assets, quarterly $35,562
Volatile liabilities $168,888
Insider loans $170,695
FHLB advances $119,343
Loans and leases held for sale $168,720
Unused loan commitments $525
Tier 1 (core) risk-based capital $525
Tier 2 risk-based capital $27,899
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $6,369
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,162
Total interest expense $1,859
Net interest income $7,303
Provision for loan and lease losses $575
Total noninterest income $2,401
Fiduciary activities $894
Service charges on deposit accounts $276
Trading account gains & fees $0
Additional noninterest income $1,231
Total noninterest expense $5,058
Salaries and employee benefits $2,552
Premises and equipment expense $583
Additional noninterest expense $1,923
Pre-tax net operating income $4,071
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $4,071
Extraordinary gains - net $0
Net income attributable to bank $4,071
Net charge-offs $0
Cash dividends $4,071
Sale, conversion, retirement of capital stock, net $572
Net operating income $2,531
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.84%
Cost of funding earning assets 1.19%
Net interest margin 4.66%
Noninterest income to earning assets 1.53%
Noninterest expense to earning assets 3.23%
Net operating income to assets 2.41%
Return on assets (ROA) 2.41%
Pretax return on assets 2.41%
Return on equity (ROE) 14.56%
Retained earnings to average equity (YTD only) 5.51%
Net charge-offs to loans 0.45%
Credit loss provision to net charge-offs 100.52%
Efficiency ratio8.12%
Assets per employee$52,123
Cash dividends to net income (YTD only)3.51%
Condition Ratios (%)
Loss allowance to loans 62.17%
Loss allowance to noncurrent loans 3.22%
Noncurrent assets plus other real estate owned to assets 64.57%
Noncurrent loans to loans 4.57%
Net loans and leases to deposits4.99%
Net loans and leases to core deposits 103.46%
Equity capital to assets 117.79%
Core capital (leverage) ratio 17.58%
Tier 1 risk-based capital ratio 16.54%
Total risk-based capital ratio 23.38%
Average assets$25
Average earning assets$168,888
Average equity $27,954
Average loans $156,820
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Total Fiduciary and Related Assets (December 31, 2011)
(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$131,305
Number of Accounts1
Personal trust and agency accounts$120,674
Employee benefit-defined contribution accounts$39,525
Employee benefit-defined benefit accounts$11,434
Other retirement accounts$0
Corporate trust and agency accounts$22,499
Investment management agency accounts$0
Other fiduciary accounts$43,060
Fiduciary accounts held in foreign offices$4,154
Non-managed Assets$2
Number of Accounts319
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$22,499
Employee benefit-defined benefit accounts$0
Other retirement accounts$10,631
Corporate trust and agency accounts$5,889
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$2,781
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3 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08919First Bank, Upper Michigan1400 Delta Avenue, Gladstone, MI 49837August 14, 1916Full Service Brick and Mortar
2231253Escanaba Branch2800 Ludington St, Escanaba, MI 49829May 01, 1989Full Service Brick and Mortar
3232188Garden BranchMain Street, Garden, MI 49835November 21, 1974Full Service Brick and Mortar
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