First Community Bank in Harbor Springs, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Community Bank - Overview

  • General
  • FDIC Certificate #: 13179
    Status: Active
    Federal Reserve ID: 932745
    Bank Holding Company (Regulatory Top Holder): Harbor Springs Financial Corporation (RSSDID: 1208102, Location: Harbor Springs, MI)
    Date Established: November 01, 1905
    WWW: http://www.firstcb.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 10580
    FDIC's unique #: 8339
    Numeric code: 13
    Regulator: FED
    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: January 01, 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
  • Location
  • Address: 200 East Main Street, Harbor Springs, MI 49740
    County: Emmet
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $186.7 mil
    Equity capital: $22.5 mil
    Deposits held in domestic offices: $154.7 mil
    Return on assets (ROA): 0.53% ($1.0 mil)
    Quarterly return on assets: 0.39% ($0.7 mil)
    Return on Equity (ROE): 4.56% ($1.0 mil)
    Quarterly return on equity: 3.31% ($0.8 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.53% ($989.5 mil)
    Quarterly Pretax return on assets: 0.39% ($728.2 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
  • 68Total employees (full-time equivalent)
  • $186,707Total assets
  • $14,602Cash and due from depository institutions
  • $10,864Interest-bearing balances
  • $13,419Securities
  • $8,000Federal funds sold & reverse repurchase agreements
  • $136,985Net loans & leases
  • $2,203Loan loss allowance
  • $0Trading account assets
  • $2,573Bank premises and fixed assets
  • $4,727Other real estate owned
  • $0Goodwill and other intangibles
  • $186,707Life insurance assets
  • $6,401All other assets
  • $164,193Total liabilities and capital
  • $154,685Total liabilities
  • $124,261Total deposits
  • $154,685Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,957Trading liabilities
  • $0Other borrowed funds
  • $551Subordinated debt
  • $22,514All other liabilities
  • $22,514Total equity capital
  • $22,514Total bank equity capital
  • $0Perpetual preferred stock
  • $1,500Common stock
  • $7,400Surplus
  • $13,614Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $772Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,223Income earned, not collected on loans
  • $0Earning assets
  • $809Long-term assets (5+ years)
  • $169,268Average Assets, year-to-date
  • $7,082Average Assets, quarterly
  • $194,074Volatile liabilities
  • $192,858Insider loans
  • $142,162FHLB advances
  • $190,193Loans and leases held for sale
  • $3,156Unused loan commitments
  • $3,156Tier 1 (core) risk-based capital
  • $22,204Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $20,439Restructured Loans and leases
  • $927Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,098Total interest income
  • $1,622Total interest expense
  • $8,476Net interest income
  • $900Provision for loan and lease losses
  • $1,310Total noninterest income
  • $0Fiduciary activities
  • $779Service charges on deposit accounts
  • $0Trading account gains & fees
  • $531Additional noninterest income
  • $7,879Total noninterest expense
  • $3,690Salaries and employee benefits
  • $1,353Premises and equipment expense
  • $2,836Additional noninterest expense
  • $1,007Pre-tax net operating income
  • $21Securities gains (losses)
  • $0Applicable income taxes
  • $1,028Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,028Net income attributable to bank
  • $0Net charge-offs
  • $1,028Cash dividends
  • $1,158Sale, conversion, retirement of capital stock, net
  • $800Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.71%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 4.79%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 4.46%Noninterest expense to earning assets
  • 0.52%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.53%Pretax return on assets
  • 4.56%Return on equity (ROE)
  • 1.01%Retained earnings to average equity (YTD only)
  • 0.81%Net charge-offs to loans
  • 77.72%Credit loss provision to net charge-offs
  • 1.65%Efficiency ratio
  • 80,513Assets per employee
  • 2.75%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 77.82%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 180.13%Noncurrent assets plus other real estate owned to assets
  • 3.19%Noncurrent loans to loans
  • 0.88%Net loans and leases to deposits
  • 88.56%Net loans and leases to core deposits
  • 100.03%Equity capital to assets
  • 12.06%Core capital (leverage) ratio
  • 11.67%Tier 1 risk-based capital ratio
  • 15.62%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $194,074Average earning assets
  • $22,562Average equity
  • $176,843Average loans

List of branches

  • 8 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08339First Community Bank200 East Main Street, Harbor Springs, MI 49740November 01, 1905Full Service Brick and Mortar
    1229279Harbor Springs Airport BranchPleasantview Road And M-119, Harbor Springs, MI 49740October 27, 1976Limited Service Facility
    2229280Harbor Springs Lake St Branch115 East Lake Street, Harbor Springs, MI 49740June 22, 1981Limited Service Facility
    3229281Petoskey Division St Branch2201 East Mitchell, Petoskey, MI 49770July 19, 1993Limited Service Facility
    4229282Petoskey Main Office330 East Mitchell, Petoskey, MI 49770May 03, 1993Full Service Brick and Mortar
    7361319Cheboygan Main Office Branch201 North Main Street, Cheboygan, MI 49721June 30, 2001Full Service Brick and Mortar
    8419443Petoskey Spring Street Branch930 Spring Street, Petoskey, MI 49770June 02, 2003Limited Service Facility
    9465763Traverse City Main Branch102 E Front Street, Traverse City, MI 49684November 01, 2006Full Service Brick and Mortar

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