Firstbank - Alma in Alma, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Firstbank - Alma in Alma, Michigan (MI)
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Firstbank - Alma - Overview

  • General
  • FDIC Certificate #: 9108
    Status: Active
    Federal Reserve ID: 450641
    Bank Holding Company (Regulatory Top Holder): Firstbank Corporation (RSSDID: 1134322, Location: Alma, MI)
    Date Established: June 01, 1880
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 12 (Domestic: 12, Interstate: No)
    OTS Docket #: 13926
    FDIC's unique #: 5833
    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: September 30, 2011
    Last Structure Change Process Date: October 07, 2011
    Last Data Update: October 07, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 311 Woodworth Avenue, Alma, MI 48801
    County: Gratiot
    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): Alma, MI (#10940)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $364.0 mil
    Equity capital: $32.0 mil
    Deposits held in domestic offices: $299.7 mil
    Return on assets (ROA): 0.38% ($1.4 mil)
    Quarterly return on assets: 0.32% ($1.2 mil)
    Return on Equity (ROE): 4.48% ($1.4 mil)
    Quarterly return on equity: 3.62% ($1.2 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.53% ($1,929.0 mil)
    Quarterly Pretax return on assets: 0.43% ($1,565.1 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
  • 81Total employees (full-time equivalent)
  • $363,968Total assets
  • $20,948Cash and due from depository institutions
  • $8,039Interest-bearing balances
  • $131,844Securities
  • $223Federal funds sold & reverse repurchase agreements
  • $198,270Net loans & leases
  • $4,983Loan loss allowance
  • $0Trading account assets
  • $4,925Bank premises and fixed assets
  • $408Other real estate owned
  • $2,175Goodwill and other intangibles
  • $363,968Life insurance assets
  • $5,175All other assets
  • $332,006Total liabilities and capital
  • $299,699Total liabilities
  • $236,261Total deposits
  • $299,699Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 28817.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,815Trading liabilities
  • $0Other borrowed funds
  • $675Subordinated debt
  • $31,962All other liabilities
  • $31,962Total equity capital
  • $31,962Total bank equity capital
  • $0Perpetual preferred stock
  • $3,893Common stock
  • $20,619Surplus
  • $7,450Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $78Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,408Income earned, not collected on loans
  • $0Earning assets
  • $1,177Long-term assets (5+ years)
  • $338,376Average Assets, year-to-date
  • $108,601Average Assets, quarterly
  • $364,124Volatile liabilities
  • $365,632Insider loans
  • $216,977FHLB advances
  • $363,406Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $29,855Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $44,153Restructured Loans and leases
  • $13,970Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,919Total interest income
  • $2,273Total interest expense
  • $12,646Net interest income
  • $3,890Provision for loan and lease losses
  • $2,697Total noninterest income
  • $0Fiduciary activities
  • $676Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,021Additional noninterest income
  • $9,536Total noninterest expense
  • $3,926Salaries and employee benefits
  • $842Premises and equipment expense
  • $4,768Additional noninterest expense
  • $1,917Pre-tax net operating income
  • $10Securities gains (losses)
  • $536Applicable income taxes
  • $1,391Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,391Net income attributable to bank
  • $0Net charge-offs
  • $1,391Cash dividends
  • $3,153Sale, conversion, retirement of capital stock, net
  • $2,100Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.34%Yield on earning assets
  • 0.66%Cost of funding earning assets
  • 3.67%Net interest margin
  • 0.78%Noninterest income to earning assets
  • 2.77%Noninterest expense to earning assets
  • 0.38%Net operating income to assets
  • 0.38%Return on assets (ROA)
  • 0.53%Pretax return on assets
  • 4.48%Return on equity (ROE)
  • -2.28%Retained earnings to average equity (YTD only)
  • 1.50%Net charge-offs to loans
  • 123.37%Credit loss provision to net charge-offs
  • 1.84%Efficiency ratio
  • 62,041Assets per employee
  • 4.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 150.97%Loss allowance to loans
  • 2.45%Loss allowance to noncurrent loans
  • 113.04%Noncurrent assets plus other real estate owned to assets
  • 1.32%Noncurrent loans to loans
  • 2.17%Net loans and leases to deposits
  • 66.16%Net loans and leases to core deposits
  • 72.94%Equity capital to assets
  • 8.78%Core capital (leverage) ratio
  • 8.22%Tier 1 risk-based capital ratio
  • 13.76%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $364,124Average earning assets
  • $31,032Average equity
  • $344,136Average loans

Total Fiduciary and Related Assets (December 31, 2001)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $46,904Managed Assets
  • 1Number of Accounts
  • $44,613Personal trust and agency accounts
  • $29,240Employee benefit-defined contribution accounts
  • $14,577Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $90Investment management agency accounts
  • $706Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 133Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $2,291Other retirement accounts
  • $0Corporate trust and agency accounts
  • $2,291Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 12 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05833Firstbank - Alma311 Woodworth Avenue, Alma, MI 48801June 01, 1880Full Service Brick and Mortar
    1219482Ashley Branch114 South Sterling Street, Ashley, MI 48806Febuary 09, 1959Full Service Brick and Mortar
    3219484Vestaburg Branch8846 Third Street, Vestaburg, MI 48891July 08, 1959Full Service Brick and Mortar
    4219485Drive-In Branch230 Woodworth Avenue, Alma, MI 48801Febuary 21, 1974Limited Service Facility
    6219487Northtown Drive-In Facility7435 Alger Road, Pine River Township, MI 48801January 28, 1980Limited Service Facility
    11263523St. Louis Branch135 Washington Street, St. Louis, MI 48880January 01, 1890Full Service Brick and Mortar
    13262579Saint Charles Branch102 Pine Street, St. Charles, MI 48655January 01, 1888Full Service Brick and Mortar
    14219492Ithaca Branch219 East Center Street, Ithaca, MI 48847March 27, 1995Full Service Brick and Mortar
    166757Merrill Branch125 West Saginaw Street, Merrill, MI 48637September 01, 1933Full Service Brick and Mortar
    1782005Firstbank-St. Johns Branch201 N. Clinton Avenue, Saint Johns, MI 48879June 16, 2000Full Service Brick and Mortar
    18481540Superior Drive Branch1065 Superior Drive, Saint Johns, MI 48879June 03, 2008Full Service Brick and Mortar
    19511692Dewitt Branch13215 South Us 127 B.R., Dewitt, MI 48820August 09, 2010Full Service Brick and Mortar

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