First Federal of Northern Michigan in Alpena, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Federal of Northern Michigan in Alpena, Michigan (MI)
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First Federal of Northern Michigan - Overview

  • General
  • FDIC Certificate #: 30985
    Status: Active
    Federal Reserve ID: 745374
    Date Established: September 10, 1957
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 6210
    FDIC's unique #: 43819
    Numeric code: 37
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: September 10, 1957
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 100 South Second Avenue, Alpena, MI 49707
    County: Alpena
    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
    Core Based Statistical Area (CBSA): Alpena, MI (#10980)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $216.9 mil
    Equity capital: $23.9 mil
    Deposits held in domestic offices: $151.7 mil
    Return on assets (ROA): 0.50% ($1.1 mil)
    Quarterly return on assets: 0.49% ($1.1 mil)
    Return on Equity (ROE): 4.71% ($1.1 mil)
    Quarterly return on equity: 4.56% ($1.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.51% ($1,106.4 mil)
    Quarterly Pretax return on assets: 0.50% ($1,084.7 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
  • 63Total employees (full-time equivalent)
  • $216,946Total assets
  • $2,763Cash and due from depository institutions
  • $472Interest-bearing balances
  • $55,484Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $140,392Net loans & leases
  • $1,243Loan loss allowance
  • $0Trading account assets
  • $5,846Bank premises and fixed assets
  • $2,793Other real estate owned
  • $1,328Goodwill and other intangibles
  • $216,946Life insurance assets
  • $8,340All other assets
  • $193,063Total liabilities and capital
  • $151,664Total liabilities
  • $138,039Total deposits
  • $151,664Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 5592.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $34,500Trading liabilities
  • $0Other borrowed funds
  • $1,307Subordinated debt
  • $23,883All other liabilities
  • $23,883Total equity capital
  • $23,883Total bank equity capital
  • $0Perpetual preferred stock
  • $1,659Common stock
  • $17,520Surplus
  • $4,704Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,228Income earned, not collected on loans
  • $0Earning assets
  • $1,132Long-term assets (5+ years)
  • $196,348Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $217,535Volatile liabilities
  • $219,221Insider loans
  • $137,120FHLB advances
  • $215,613Loans and leases held for sale
  • $1,413Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $22,481Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $19,181Restructured Loans and leases
  • $5,937Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,453Total interest income
  • $2,262Total interest expense
  • $8,191Net interest income
  • $130Provision for loan and lease losses
  • $2,000Total noninterest income
  • $0Fiduciary activities
  • $416Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,584Additional noninterest income
  • $8,956Total noninterest expense
  • $4,747Salaries and employee benefits
  • $1,049Premises and equipment expense
  • $3,160Additional noninterest expense
  • $1,105Pre-tax net operating income
  • $0Securities gains (losses)
  • $16Applicable income taxes
  • $1,089Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,089Net income attributable to bank
  • $0Net charge-offs
  • $1,089Cash dividends
  • $1,134Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.33%Yield on earning assets
  • 1.15%Cost of funding earning assets
  • 4.17%Net interest margin
  • 1.02%Noninterest income to earning assets
  • 4.56%Noninterest expense to earning assets
  • 0.50%Net operating income to assets
  • 0.50%Return on assets (ROA)
  • 0.51%Pretax return on assets
  • 4.71%Return on equity (ROE)
  • 4.71%Retained earnings to average equity (YTD only)
  • 0.76%Net charge-offs to loans
  • 11.46%Credit loss provision to net charge-offs
  • 1.09%Efficiency ratio
  • 84,987Assets per employee
  • 3.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.88%Loss allowance to noncurrent loans
  • 38.51%Noncurrent assets plus other real estate owned to assets
  • 2.78%Noncurrent loans to loans
  • 2.28%Net loans and leases to deposits
  • 92.57%Net loans and leases to core deposits
  • 96.89%Equity capital to assets
  • 11.01%Core capital (leverage) ratio
  • 10.43%Tier 1 risk-based capital ratio
  • 16.40%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $217,535Average earning assets
  • $23,116Average equity
  • $196,285Average loans

List of branches

  • 8 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    043819First Federal Of Northern Michigan100 South Second Avenue, Alpena, MI 49707September 10, 1957Full Service Brick and Mortar
    100283067Mio Branch308 N Morenci Street, Mio, MI 48647September 10, 1957Full Service Brick and Mortar
    101283068Cheboygan Branch101 South Main, Cheboygan, MI 49721August 10, 1992Full Service Brick and Mortar
    102264285Ripley Branch300 South Ripley Boulevard, Alpena, MI 49707January 01, 1890Full Service Brick and Mortar
    103264296Oscoda Branch201 North State Street, Oscoda, MI 48750January 01, 1890Full Service Brick and Mortar
    104360680Lewiston Branch2885 S. County Road 489, Lewiston, MI 49756November 11, 2000Full Service Brick and Mortar
    106227899Alanson Branch6230 River Street, Alanson, MI 49706July 08, 1968Full Service Brick and Mortar
    107520574Gaylord Branch1000 S Wisconsin Ave, Gaylord, MI 49735June 04, 2001Full Service Brick and Mortar

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