Firstbank in Mt. Pleasant, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Firstbank in Mt. Pleasant, Michigan (MI)
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Firstbank - Overview

  • General
  • FDIC Certificate #: 1597
    Status: Active
    Federal Reserve ID: 960841
    Bank Holding Company (Regulatory Top Holder): Firstbank Corporation (RSSDID: 1134322, Location: Alma, MI)
    Date Established: December 04, 1894
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 15 (Domestic: 15, Interstate: No)
    OTS Docket #: 11702
    FDIC's unique #: 1041
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: May 16, 2008
    Last Structure Change Process Date: June 11, 2008
    Last Data Update: June 11, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 102 South Main Street, Mt. Pleasant, MI 48858
    County: Isabella
    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
    Core Based Statistical Area (CBSA): Mount Pleasant, MI (#34380)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $415.2 mil
    Equity capital: $38.8 mil
    Deposits held in domestic offices: $366.7 mil
    Return on assets (ROA): 0.74% ($3.1 mil)
    Quarterly return on assets: 0.85% ($3.5 mil)
    Return on Equity (ROE): 7.76% ($3.0 mil)
    Quarterly return on equity: 9.01% ($3.5 mil)
    Net income: $3.0 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 1.11% ($4,608.6 mil)
    Quarterly Pretax return on assets: 1.27% ($5,272.9 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, 2011)

  • Dollar figures in thousands
  • 91Total employees (full-time equivalent)
  • $415,188Total assets
  • $27,061Cash and due from depository institutions
  • $19,451Interest-bearing balances
  • $86,229Securities
  • $3,135Federal funds sold & reverse repurchase agreements
  • $281,310Net loans & leases
  • $4,039Loan loss allowance
  • $0Trading account assets
  • $6,381Bank premises and fixed assets
  • $1,317Other real estate owned
  • $5,451Goodwill and other intangibles
  • $415,188Life insurance assets
  • $4,304All other assets
  • $376,350Total liabilities and capital
  • $366,735Total liabilities
  • $308,765Total deposits
  • $366,735Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 7673.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,942Subordinated debt
  • $38,838All other liabilities
  • $38,838Total equity capital
  • $38,838Total bank equity capital
  • $0Perpetual preferred stock
  • $275Common stock
  • $28,898Surplus
  • $9,665Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $224Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,963Income earned, not collected on loans
  • $0Earning assets
  • $1,249Long-term assets (5+ years)
  • $390,125Average Assets, year-to-date
  • $103,270Average Assets, quarterly
  • $403,994Volatile liabilities
  • $412,485Insider loans
  • $289,565FHLB advances
  • $411,086Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $34,168Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $59,894Restructured Loans and leases
  • $22,180Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $19,090Total interest income
  • $4,081Total interest expense
  • $15,009Net interest income
  • $2,130Provision for loan and lease losses
  • $2,108Total noninterest income
  • $0Fiduciary activities
  • $854Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,254Additional noninterest income
  • $10,524Total noninterest expense
  • $4,296Salaries and employee benefits
  • $1,218Premises and equipment expense
  • $5,010Additional noninterest expense
  • $4,463Pre-tax net operating income
  • $6Securities gains (losses)
  • $1,486Applicable income taxes
  • $2,983Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,983Net income attributable to bank
  • $0Net charge-offs
  • $2,983Cash dividends
  • $2,559Sale, conversion, retirement of capital stock, net
  • $3,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.04%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 3.96%Net interest margin
  • 0.56%Noninterest income to earning assets
  • 2.78%Noninterest expense to earning assets
  • 0.74%Net operating income to assets
  • 0.74%Return on assets (ROA)
  • 1.11%Pretax return on assets
  • 7.76%Return on equity (ROE)
  • -0.04%Retained earnings to average equity (YTD only)
  • 0.90%Net charge-offs to loans
  • 83.24%Credit loss provision to net charge-offs
  • 2.58%Efficiency ratio
  • 60,752Assets per employee
  • 4.56%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 100.57%Loss allowance to loans
  • 1.42%Loss allowance to noncurrent loans
  • 58.01%Noncurrent assets plus other real estate owned to assets
  • 1.99%Noncurrent loans to loans
  • 2.44%Net loans and leases to deposits
  • 76.71%Net loans and leases to core deposits
  • 87.92%Equity capital to assets
  • 9.35%Core capital (leverage) ratio
  • 8.31%Tier 1 risk-based capital ratio
  • 11.80%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $403,994Average earning assets
  • $38,425Average equity
  • $378,943Average loans

List of branches

  • 15 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01041Firstbank102 South Main Street, Mt. Pleasant, MI 48858December 04, 1894Full Service Brick and Mortar
    1189879Winn Branch2783 Blanchard Road, Winn, MI 48896July 02, 1962Full Service Brick and Mortar
    10219486Pickard Branch4699 East Pickard Road, Mount Pleasant, MI 48858May 08, 1978Full Service Brick and Mortar
    11189888Shepherd Branch258 West Wright Avenue, Shepherd, MI 48883December 02, 1991Full Service Brick and Mortar
    12264295Clare Branch806 Mcewan Street, Clare, MI 48617January 01, 1890Full Service Brick and Mortar
    14262584Mission Branch2013 South Mission, Mount Pleasant, MI 48858January 01, 1888Full Service Brick and Mortar
    15189890West M20 Branch1925 East Remus Road, Mount Pleasant, MI 48858September 01, 1999Full Service Brick and Mortar
    17423036Cadillac Branch114 West Pine Street, Cadillac, MI 49601October 13, 2003Full Service Brick and Mortar
    188674Lakeview Branch506 South Lincoln Avenue, Lakeview, MI 48850January 01, 1904Full Service Brick and Mortar
    19230554M-46 Drive-In Branch9531 Greenville Road, N.W., Lakeview, MI 48850July 20, 1981Limited Service Facility
    20230556Howard City Branch830 West Shaw Street, Howard City, MI 49329Febuary 01, 1983Full Service Brick and Mortar
    21230557Remus Branch201 West Wheatland Center, Remus, MI 49340September 17, 1985Full Service Brick and Mortar
    229406Morley Branch101 East Fourth Street, Morley, MI 49336January 01, 1914Full Service Brick and Mortar
    23230559Canadian Lakes Branch10049 Buchanan Road, Stanwood, MI 49346October 09, 1995Full Service Brick and Mortar
    24521303Boon Road BranchEast 34 Road, Cadillac, MI 49601June 01, 2011Full Service Brick and Mortar

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