First of America Bank-West Michigan, National Association in Grand Rapids, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 31, 1995

  • First of America Bank-West Michigan, National Association in Grand Rapids, Michigan (MI)
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First of America Bank-West Michigan, National Association - Overview

  • General
  • FDIC Certificate #: 28628
    Status: Inactive
    Closing history: Change in Primary Regulatory Agency
    Acquiring institution: National City Bank of the Midwest (#5029)
    Federal Reserve ID: 369770
    Date Established: January 01, 1888
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 36 (Interstate: No)
    OTS Docket #: 1987
    FDIC's unique #: 41462
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    SAIF Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: December 20, 1935
    Last Structure Change Effective Date: March 31, 1995
    Last Structure Change Process Date: April 17, 1995
    Last Data Update: April 17, 1995
    Data Source Date: April 05, 2012
  • Location
  • Address: 171 Monroe Avenue, Nw, Grand Rapids, MI 49503
    County: Kent
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Grand Rapids
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000)
    Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
    Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
    CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
  • History of Changes
  • Merger - Without Assistance
    Name Change
    Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $1,353.2 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $479Total assets
  • $1,353,158Cash and due from depository institutions
  • $51,452Interest-bearing balances
  • $0Securities
  • $317,286Federal funds sold & reverse repurchase agreements
  • $45Net loans & leases
  • $923,584Loan loss allowance
  • $9,145Trading account assets
  • $0Bank premises and fixed assets
  • $30,284Other real estate owned
  • $1,260Goodwill and other intangibles
  • $21,703Life insurance assets
  • $7,544All other assets
  • $0Total liabilities and capital
  • $1,353,158Total liabilities
  • $1,260,437Total deposits
  • $1,037,686Interest-bearing deposits
  • $886,308Deposits held in domestic offices
  • 1037686.00%% insured (estimated)
  • $74Federal funds purchased & repurchase agreements
  • $125,231Trading liabilities
  • $0Other borrowed funds
  • $91,128Subordinated debt
  • $0All other liabilities
  • $6,392Total equity capital
  • $6,392Total bank equity capital
  • $92,721Perpetual preferred stock
  • $0Common stock
  • $20,910Surplus
  • $50,088Undivided profits
  • Memoranda
  • $21,723Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,018Income earned, not collected on loans
  • $5,233Earning assets
  • $1,240,915Long-term assets (5+ years)
  • $379,404Average Assets, year-to-date
  • $1,251,443Average Assets, quarterly
  • $1,338,278Volatile liabilities
  • $288,166Insider loans
  • $14,249FHLB advances
  • $0Loans and leases held for sale
  • $2,029Unused loan commitments
  • $365,566Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $89,327Total risk weighted assets
  • $934,020Total unused commitments
  • $0Restructured Loans and leases
  • $80,245Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $85,901Total interest expense
  • $37,758Net interest income
  • $48,143Provision for loan and lease losses
  • $3,600Total noninterest income
  • $15,103Fiduciary activities
  • $3,092Service charges on deposit accounts
  • $5,626Trading account gains & fees
  • $0Additional noninterest income
  • $6,385Total noninterest expense
  • $41,455Salaries and employee benefits
  • $13,572Premises and equipment expense
  • $4,444Additional noninterest expense
  • $23,439Pre-tax net operating income
  • $18,191Securities gains (losses)
  • $772Applicable income taxes
  • $6,237Income before extraordinary items
  • $12,726Extraordinary gains - net
  • $0Net income attributable to bank
  • $12,726Net charge-offs
  • $2,801Cash dividends
  • $1,400Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1994)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.51%Cost of funding earning assets
  • 3.30%Net interest margin
  • 4.21%Noninterest income to earning assets
  • 1.32%Noninterest expense to earning assets
  • 3.62%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 1.52%Return on equity (ROE)
  • 14.06%Retained earnings to average equity (YTD only)
  • 12.52%Net charge-offs to loans
  • 0.33%Credit loss provision to net charge-offs
  • 128.53%Efficiency ratio
  • 64,418Assets per employee
  • 2.82%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 11.00%Loss allowance to loans
  • 0.98%Loss allowance to noncurrent loans
  • 227.60%Noncurrent assets plus other real estate owned to assets
  • 0.39%Noncurrent loans to loans
  • 0.43%Net loans and leases to deposits
  • 89.00%Net loans and leases to core deposits
  • 100.97%Equity capital to assets
  • 6.85%Core capital (leverage) ratio
  • 6.72%Tier 1 risk-based capital ratio
  • 9.56%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $1,251,443Average earning assets
  • $90,498Average equity
  • $1,144,347Average loans

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