First National Bank of Bad Axe in Bad Axe, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 25, 1993

  • First National Bank of Bad Axe in Bad Axe, Michigan (MI)
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First National Bank of Bad Axe - Overview

  • General
  • FDIC Certificate #: 20309
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Signature Bank (#10936)
    Federal Reserve ID: 7241
    Date Established: December 01, 1970
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Interstate: No)
    FDIC's unique #: 13982
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: December 01, 1970
    Last Structure Change Effective Date: June 25, 1993
    Last Structure Change Process Date: July 29, 1993
    Last Data Update: July 29, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: One East Huron Avenue, Bad Axe, MI 48413
    County: Huron
    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
  • Financial Summary
  • Total assets: $104.0 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $58Total assets
  • $101,889Cash and due from depository institutions
  • $4,715Interest-bearing balances
  • $0Securities
  • $31,252Federal funds sold & reverse repurchase agreements
  • $4,350Net loans & leases
  • $58,487Loan loss allowance
  • $785Trading account assets
  • $0Bank premises and fixed assets
  • $1,413Other real estate owned
  • $314Goodwill and other intangibles
  • $1,347Life insurance assets
  • $11All other assets
  • $0Total liabilities and capital
  • $101,889Total liabilities
  • $94,824Total deposits
  • $94,096Interest-bearing deposits
  • $81,817Deposits held in domestic offices
  • 94096.00%% insured (estimated)
  • $88Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $728Total equity capital
  • $728Total bank equity capital
  • $7,065Perpetual preferred stock
  • $0Common stock
  • $1,075Surplus
  • $1,567Undivided profits
  • Memoranda
  • $4,423Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $385Income earned, not collected on loans
  • $744Earning assets
  • $94,089Long-term assets (5+ years)
  • $4,427Average Assets, year-to-date
  • $98,835Average Assets, quarterly
  • $99,603Volatile liabilities
  • $4,112Insider loans
  • $38FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $6,406Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $7,054Total risk weighted assets
  • $62,427Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $7,871Total interest expense
  • $3,543Net interest income
  • $4,328Provision for loan and lease losses
  • $246Total noninterest income
  • $502Fiduciary activities
  • $0Service charges on deposit accounts
  • $146Trading account gains & fees
  • $0Additional noninterest income
  • $356Total noninterest expense
  • $3,176Salaries and employee benefits
  • $1,690Premises and equipment expense
  • $351Additional noninterest expense
  • $1,135Pre-tax net operating income
  • $1,408Securities gains (losses)
  • $33Applicable income taxes
  • $427Income before extraordinary items
  • $1,014Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,014Net charge-offs
  • $186Cash dividends
  • $489Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.54%Cost of funding earning assets
  • 3.84%Net interest margin
  • 4.69%Noninterest income to earning assets
  • 0.54%Noninterest expense to earning assets
  • 3.44%Net operating income to assets
  • 1.00%Return on assets (ROA)
  • 1.03%Pretax return on assets
  • 1.46%Return on equity (ROE)
  • 14.90%Retained earnings to average equity (YTD only)
  • 7.72%Net charge-offs to loans
  • 0.32%Credit loss provision to net charge-offs
  • 132.26%Efficiency ratio
  • 65,590Assets per employee
  • 1.76%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 48.22%Loss allowance to loans
  • 1.32%Loss allowance to noncurrent loans
  • 203.90%Noncurrent assets plus other real estate owned to assets
  • 0.69%Noncurrent loans to loans
  • 0.65%Net loans and leases to deposits
  • 62.16%Net loans and leases to core deposits
  • 65.00%Equity capital to assets
  • 6.93%Core capital (leverage) ratio
  • 7.14%Tier 1 risk-based capital ratio
  • 11.30%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $98,835Average earning assets
  • $6,804Average equity
  • $92,202Average loans

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