First of America Bank - Northern Michigan in city_name, state_name

First of America Bank - Northern Michigan in Traverse City, Michigan (MI)
Show street view No street view available for this location

First of America Bank - Northern Michigan - Overview

General
FDIC Certificate #: 15479
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: National City Bank of the Midwest (#5029)
Federal Reserve ID: 897040
Date Established: January 01, 1905
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 32 (Interstate: No)
OTS Docket #: 12153
FDIC's unique #: 9784
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: March 30, 1937
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
Location
Address: 701 Randolph, Traverse City, MI 49685
County: Grand Traverse
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): Traverse City, MI (#45900)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $669.8 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
0Total employees (full-time equivalent)
$289Total assets
$653,410Cash and due from depository institutions
$23,808Interest-bearing balances
$0Securities
$128,839Federal funds sold & reverse repurchase agreements
$537Net loans & leases
$476,576Loan loss allowance
$6,349Trading account assets
$0Bank premises and fixed assets
$10,340Other real estate owned
$1,164Goodwill and other intangibles
$8,602Life insurance assets
$3,544All other assets
$0Total liabilities and capital
$653,410Total liabilities
$606,708Total deposits
$562,806Interest-bearing deposits
$478,733Deposits held in domestic offices
562806.00%% insured (estimated)
$93Federal funds purchased & repurchase agreements
$39,500Trading liabilities
$0Other borrowed funds
$257Subordinated debt
$0All other liabilities
$4,145Total equity capital
$4,145Total bank equity capital
$46,702Perpetual preferred stock
$0Common stock
$21,084Surplus
$11,828Undivided profits
Memoranda
$13,790Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$4,238Income earned, not collected on loans
$2,424Earning assets
$605,952Long-term assets (5+ years)
$96,901Average Assets, year-to-date
$644,350Average Assets, quarterly
$664,496Volatile liabilities
$77,662Insider loans
$12,486FHLB advances
$0Loans and leases held for sale
$7,042Unused loan commitments
$112,677Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$42,360Total risk weighted assets
$419,084Total unused commitments
$0Restructured Loans and leases
$25,621Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$48,231Total interest expense
$18,947Net interest income
$29,284Provision for loan and lease losses
$627Total noninterest income
$7,163Fiduciary activities
$1,447Service charges on deposit accounts
$2,156Trading account gains & fees
$0Additional noninterest income
$3,560Total noninterest expense
$23,843Salaries and employee benefits
$7,840Premises and equipment expense
$2,119Additional noninterest expense
$13,884Pre-tax net operating income
$11,977Securities gains (losses)
$413Applicable income taxes
$4,009Income before extraordinary items
$8,381Extraordinary gains - net
$0Net income attributable to bank
$8,381Net charge-offs
$585Cash dividends
$5,600Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.11%Cost of funding earning assets
3.18%Net interest margin
4.92%Noninterest income to earning assets
1.20%Noninterest expense to earning assets
4.01%Net operating income to assets
1.26%Return on assets (ROA)
1.30%Pretax return on assets
1.92%Return on equity (ROE)
18.72%Retained earnings to average equity (YTD only)
6.21%Net charge-offs to loans
0.13%Credit loss provision to net charge-offs
107.18%Efficiency ratio
64,335Assets per employee
2.26%Cash dividends to net income (YTD only)
Condition Ratios (%)
66.82%Loss allowance to loans
1.31%Loss allowance to noncurrent loans
149.81%Noncurrent assets plus other real estate owned to assets
0.83%Noncurrent loans to loans
0.88%Net loans and leases to deposits
84.68%Net loans and leases to core deposits
90.84%Equity capital to assets
7.15%Core capital (leverage) ratio
6.40%Tier 1 risk-based capital ratio
10.11%Total risk-based capital ratio
Memoranda
$11Average assets
$644,350Average earning assets
$44,778Average equity
$594,886Average loans

First of America Bank - Northern Michigan in Traverse City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

First of America Bank - Northern Michigan - Overview

Assets and Liabilities (December 31, 1993)

Income and Expense (December 31, 1993)

Performance and Condition Ratios (December 31, 1993)

Comment about this bank, ask questions, or add new information about it:

First of America Bank - Northern Michigan in Traverse City, Michigan (MI)Overview, Financial Summary, Detailed Financial Reports, Branches

First of America Bank - Northern Michigan - Overview

Assets and Liabilities (December 31, 1993)

Income and Expense (December 31, 1993)

Performance and Condition Ratios (December 31, 1993)

Comment about this bank, ask questions, or add new information about it:

First of America Bank - Northern Michigan in Traverse City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches