First of America Bank - Mid Michigan, National Association in Bay City, Michigan (MI)



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First of America Bank - Mid Michigan, National Association
GeneralFDIC Certificate #: 975
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: National City Bank of the Midwest (#5029)
Federal Reserve ID: 54544
Date Established: January 01, 1867
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 50 (Interstate: No)
FDIC's unique #: 641
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: January 01, 1934
Last Structure Change Effective Date: December 31, 1994
Last Structure Change Process Date: Febuary 01, 1995
Last Data Update: Febuary 01, 1995
Data Source Date: April 05, 2012
LocationAddress: 300 Center Avenue, Bay City, MI 48706
County: Bay
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): Saginaw-Bay City-Midland, MI (#6960)
Combined Statistical Area (CSA): Saginaw-Bay City-Saginaw Township North, MI (#474)
Core Based Statistical Area (CBSA): Bay City, MI (#13020)
CBSA Metro Statistical Area: Bay City, MI (#13020)
Financial SummaryTotal assets: $1,394.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$570
Cash and due from depository institutions$1,312,628
Interest-bearing balances$51,412
Securities$0
Federal funds sold & reverse repurchase agreements$312,592
Net loans & leases$505
Loan loss allowance $905,323
Trading account assets$10,738
Bank premises and fixed assets$0
Other real estate owned$20,439
Goodwill and other intangibles$3,711
All other assets$4,680
Life insurance assets$13,966
Total liabilities and capital$0
Total liabilities$1,312,628
Total deposits$1,219,848
Interest-bearing deposits$1,195,483
Deposits held in domestic offices$1,063,492
% insured (estimated)1195483.00%
Federal funds purchased & repurchase agreements $88
Trading liabilities$5,180
Other borrowed funds $0
Subordinated debt $9,822
All other liabilities $0
Total equity capital$9,363
Total bank equity capital$9,363
Perpetual preferred stock$92,780
Common stock$0
Surplus$18,848
Undivided profits $50,798
Memoranda
Noncurrent loans and leases $23,134
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $6,238
Earning assets $4,535
Long-term assets (5+ years) $1,218,420
Average Assets, year-to-date $198,902
Average Assets, quarterly $1,303,923
Volatile liabilities $1,318,187
Insider loans $90,594
FHLB advances $50,698
Loans and leases held for sale $0
Unused loan commitments $1,173
Tier 1 (core) risk-based capital $265,639
Tier 2 risk-based capital $0
Total risk weighted assets $85,094
Total unused commitments $874,940
Restructured Loans and leases $0
Derivatives$1,105
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $96,325
Net interest income $35,913
Provision for loan and lease losses $60,412
Total noninterest income $466
Fiduciary activities $14,837
Service charges on deposit accounts $4,482
Trading account gains & fees $5,272
Additional noninterest income $0
Total noninterest expense $5,083
Salaries and employee benefits $48,129
Premises and equipment expense $14,870
Additional noninterest expense $4,398
Pre-tax net operating income $28,861
Securities gains (losses) $26,654
Applicable income taxes $320
Income before extraordinary items $8,815
Extraordinary gains - net $18,159
Net income attributable to bank $0
Net charge-offs $18,159
Cash dividends $304
Sale, conversion, retirement of capital stock, net $15,700
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.95%
Net interest margin 2.96%
Noninterest income to earning assets 4.98%
Noninterest expense to earning assets 1.22%
Net operating income to assets 3.97%
Return on assets (ROA) 1.38%
Pretax return on assets 1.39%
Return on equity (ROE) 2.07%
Retained earnings to average equity (YTD only) 20.26%
Net charge-offs to loans 2.74%
Credit loss provision to net charge-offs 0.03%
Efficiency ratio153.29%
Assets per employee$62,966
Cash dividends to net income (YTD only)2.30%
Condition Ratios (%)
Loss allowance to loans 86.46%
Loss allowance to noncurrent loans 1.17%
Noncurrent assets plus other real estate owned to assets 172.14%
Noncurrent loans to loans 0.76%
Net loans and leases to deposits0.68%
Net loans and leases to core deposits 75.73%
Equity capital to assets 80.84%
Core capital (leverage) ratio 7.07%
Tier 1 risk-based capital ratio 6.51%
Total risk-based capital ratio 9.73%
Memoranda
Average assets$11
Average earning assets$1,303,923
Average equity $89,626
Average loans $1,212,028
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