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

This bank is inactive as of July 01, 2004

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

  • General
  • FDIC Certificate #: 22057
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Independent Bank (#27811)
    Federal Reserve ID: 922942
    Date Established: July 01, 1975
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Interstate: No)
    OTS Docket #: 9356
    FDIC's unique #: 15309
    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: July 01, 1975
    Last Structure Change Effective Date: July 01, 2004
    Last Structure Change Process Date: July 16, 2004
    Last Data Update: July 16, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 501 West Main Street, Gaylord, MI 49735
    County: Otsego
    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: $154.9 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, 2003)

  • Dollar figures in thousands
  • 68Total employees (full-time equivalent)
  • $172,385Total assets
  • $5,904Cash and due from depository institutions
  • $574Interest-bearing balances
  • $31,110Securities
  • $13,175Federal funds sold & reverse repurchase agreements
  • $111,994Net loans & leases
  • $6,582Loan loss allowance
  • $0Trading account assets
  • $2,399Bank premises and fixed assets
  • $978Other real estate owned
  • $981Goodwill and other intangibles
  • $0Life insurance assets
  • $5,844All other assets
  • $172,385Total liabilities and capital
  • $163,547Total liabilities
  • $135,816Total deposits
  • $118,851Interest-bearing deposits
  • $135,816Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $26,286Other borrowed funds
  • $0Subordinated debt
  • $1,445All other liabilities
  • $8,838Total equity capital
  • $8,838Total bank equity capital
  • $8,838Perpetual preferred stock
  • $0Common stock
  • $831Surplus
  • $9,616Undivided profits
  • Memoranda
  • $-1,609Noncurrent loans and leases
  • $7,415Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $12,650Earning assets
  • $24Long-term assets (5+ years)
  • $755Average Assets, year-to-date
  • $156,853Average Assets, quarterly
  • $23,626Volatile liabilities
  • $202,454Insider loans
  • $185,329FHLB advances
  • $43,964Loans and leases held for sale
  • $4,758Unused loan commitments
  • $26,286Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $135Total risk weighted assets
  • $7,415Total unused commitments
  • $429Restructured Loans and leases
  • $1,387Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $11,906Total interest income
  • $5,636Total interest expense
  • $6,270Net interest income
  • $5,849Provision for loan and lease losses
  • $1,817Total noninterest income
  • $0Fiduciary activities
  • $608Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,209Additional noninterest income
  • $7,168Total noninterest expense
  • $3,450Salaries and employee benefits
  • $762Premises and equipment expense
  • $2,956Additional noninterest expense
  • -$4,930Pre-tax net operating income
  • $44Securities gains (losses)
  • $153Applicable income taxes
  • -$5,039Income before extraordinary items
  • $0Extraordinary gains - net
  • -$5,039Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,779Sale, conversion, retirement of capital stock, net
  • $131Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.40%Yield on earning assets
  • 3.03%Cost of funding earning assets
  • 3.37%Net interest margin
  • 0.98%Noninterest income to earning assets
  • 3.85%Noninterest expense to earning assets
  • -2.51%Net operating income to assets
  • -2.49%Return on assets (ROA)
  • -2.41%Pretax return on assets
  • -40.58%Return on equity (ROE)
  • -41.64%Retained earnings to average equity (YTD only)
  • 2.58%Net charge-offs to loans
  • 154.78%Credit loss provision to net charge-offs
  • 0.24%Efficiency ratio
  • 88,636Assets per employee
  • 2.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -2.60%Loss allowance to loans
  • 5.55%Loss allowance to noncurrent loans
  • 52.03%Noncurrent assets plus other real estate owned to assets
  • 7.91%Noncurrent loans to loans
  • 10.67%Net loans and leases to deposits
  • 82.46%Net loans and leases to core deposits
  • 111.74%Equity capital to assets
  • 5.13%Core capital (leverage) ratio
  • 4.59%Tier 1 risk-based capital ratio
  • 8.07%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $202,454Average earning assets
  • $12,417Average equity
  • $186,003Average loans

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