First Federal Savings and Loan Association in Pontiac, Michigan (MI)

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First Federal Savings and Loan Association
GeneralFDIC Certificate #: 33515
Status: Inactive
Closing history: Office Sold
Acquiring institution: TCF NATIONAL BANK (#33830)
Federal Reserve ID: 74373
Date Established: October 16, 1991
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 9472
FDIC's unique #: 47287
Numeric code: 38
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: October 16, 1991
Last Structure Change Effective Date: August 27, 1993
Last Structure Change Process Date: September 10, 1993
Last Data Update: August 02, 1994
Data Source Date: April 05, 2012
LocationAddress: 761 West Huron Street, Pontiac, MI 48053
County: Oakland
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): Detroit, MI (#2160)
Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820)
CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820)
Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
History of ChangesPass Through Receivership Merger
Conservatorship Institution Resolved
Office Sold
Financial SummaryTotal assets: $291.6 mil
Assets and Liabilities (December 31, 1992)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$199
Cash and due from depository institutions$361,126
Interest-bearing balances$95,404
Federal funds sold & reverse repurchase agreements$95,800
Net loans & leases$1,000
Loan loss allowance $109,711
Trading account assets$26,279
Bank premises and fixed assets$0
Other real estate owned$5,888
Goodwill and other intangibles$9,268
All other assets$0
Life insurance assets$44,055
Total liabilities and capital$0
Total liabilities$361,126
Total deposits$375,584
Interest-bearing deposits$319,436
Deposits held in domestic offices$311,669
% insured (estimated)319436.00%
Federal funds purchased & repurchase agreements $100
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $47,029
All other liabilities $0
Total equity capital$9,119
Total bank equity capital$9,119
Perpetual preferred stock$-14,458
Common stock$0
Undivided profits $0
Noncurrent loans and leases $-14,458
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $44,626
Earning assets $786
Long-term assets (5+ years) $293,616
Average Assets, year-to-date $0
Average Assets, quarterly $607,909
Volatile liabilities $435,465
Insider loans $53,635
FHLB advances $0
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $429
Tier 2 risk-based capital $0
Total risk weighted assets $-14,458
Total unused commitments $240,132
Restructured Loans and leases $0
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Income and Expense (December 31, 1992)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $43,533
Net interest income $33,163
Provision for loan and lease losses $10,370
Total noninterest income $1,211
Fiduciary activities $19,008
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $19,008
Salaries and employee benefits $29,090
Premises and equipment expense $7,157
Additional noninterest expense $4,069
Pre-tax net operating income $17,864
Securities gains (losses) -$923
Applicable income taxes $4,091
Income before extraordinary items -$40
Extraordinary gains - net $3,208
Net income attributable to bank $0
Net charge-offs $3,208
Cash dividends -$2,718
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1992)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.94%
Net interest margin 6.04%
Noninterest income to earning assets 1.89%
Noninterest expense to earning assets 3.46%
Net operating income to assets 5.30%
Return on assets (ROA) -0.15%
Pretax return on assets 0.53%
Return on equity (ROE) 0.52%
Retained earnings to average equity (YTD only) -24.77%
Net charge-offs to loans -24.77%
Credit loss provision to net charge-offs -0.70%
Efficiency ratio-44.55%
Assets per employee$97,971
Cash dividends to net income (YTD only)1.81%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 19.32%
Noncurrent assets plus other real estate owned to assets 58.89%
Noncurrent loans to loans 14.92%
Net loans and leases to deposits32.82%
Net loans and leases to core deposits 34.35%
Equity capital to assets 35.07%
Core capital (leverage) ratio -4.00%
Tier 1 risk-based capital ratio -4.00%
Total risk-based capital ratio -6.02%
Average assets-$6
Average earning assets$607,909
Average equity -$12,954
Average loans $548,620
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User Contributions:

Alice Edgerly
Report this comment as inappropriate
Aug 6, 2012 @ 12:12 pm
I had a savings account with First Federal Savings and Loan Association of Detroit with my husband and today I noticed a stamped statement which said,
As Joint Tenants With Right of Survivorship and Not as Tenants in Common.
What does that statement mean?
Thank you very much for your clarification.

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