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

This bank is inactive as of May 16, 2008

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

  • General
  • FDIC Certificate #: 13874
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Firstbank (#1597)
    Federal Reserve ID: 171348
    Date Established: January 01, 1904
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Interstate: No)
    OTS Docket #: 13779
    FDIC's unique #: 8674
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: Febuary 12, 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: 506 South Lincoln Avenue, Lakeview, MI 48850
    County: Montcalm
    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
  • Financial Summary
  • Total assets: $113.7 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, 2007)

  • Dollar figures in thousands
  • 36Total employees (full-time equivalent)
  • $119,542Total assets
  • $3,390Cash and due from depository institutions
  • $10Interest-bearing balances
  • $4,834Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $105,407Net loans & leases
  • $810Loan loss allowance
  • $0Trading account assets
  • $3,004Bank premises and fixed assets
  • $236Other real estate owned
  • $691Goodwill and other intangibles
  • $0Life insurance assets
  • $1,980All other assets
  • $119,542Total liabilities and capital
  • $110,035Total liabilities
  • $88,366Total deposits
  • $75,516Interest-bearing deposits
  • $88,366Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $4,680Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $15,063Other borrowed funds
  • $0Subordinated debt
  • $1,926All other liabilities
  • $9,507Total equity capital
  • $9,507Total bank equity capital
  • $9,507Perpetual preferred stock
  • $0Common stock
  • $1,350Surplus
  • $6,248Undivided profits
  • Memoranda
  • $1,909Noncurrent loans and leases
  • $14,498Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,306Earning assets
  • $0Long-term assets (5+ years)
  • $471Average Assets, year-to-date
  • $110,251Average Assets, quarterly
  • $20,973Volatile liabilities
  • $122,192Insider loans
  • $119,127FHLB advances
  • $17,354Loans and leases held for sale
  • $8,309Unused loan commitments
  • $15,063Tier 1 (core) risk-based capital
  • $169Tier 2 risk-based capital
  • $446Total risk weighted assets
  • $14,498Total unused commitments
  • $0Restructured Loans and leases
  • $810Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $7,770Total interest income
  • $3,565Total interest expense
  • $4,205Net interest income
  • $102Provision for loan and lease losses
  • $1,060Total noninterest income
  • $0Fiduciary activities
  • $525Service charges on deposit accounts
  • $0Trading account gains & fees
  • $535Additional noninterest income
  • $3,945Total noninterest expense
  • $1,562Salaries and employee benefits
  • $588Premises and equipment expense
  • $1,795Additional noninterest expense
  • $1,218Pre-tax net operating income
  • -$29Securities gains (losses)
  • $348Applicable income taxes
  • $841Income before extraordinary items
  • $0Extraordinary gains - net
  • $841Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $655Sale, conversion, retirement of capital stock, net
  • $1,750Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.84%Yield on earning assets
  • 3.14%Cost of funding earning assets
  • 3.70%Net interest margin
  • 0.93%Noninterest income to earning assets
  • 3.48%Noninterest expense to earning assets
  • 0.71%Net operating income to assets
  • 0.69%Return on assets (ROA)
  • 0.97%Pretax return on assets
  • 8.29%Return on equity (ROE)
  • -8.96%Retained earnings to average equity (YTD only)
  • 0.61%Net charge-offs to loans
  • 15.57%Credit loss provision to net charge-offs
  • 2.02%Efficiency ratio
  • 72,555Assets per employee
  • 3.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 208.09%Loss allowance to loans
  • 0.76%Loss allowance to noncurrent loans
  • 62.02%Noncurrent assets plus other real estate owned to assets
  • 1.29%Noncurrent loans to loans
  • 1.23%Net loans and leases to deposits
  • 119.28%Net loans and leases to core deposits
  • 133.84%Equity capital to assets
  • 7.95%Core capital (leverage) ratio
  • 7.64%Tier 1 risk-based capital ratio
  • 9.23%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $122,192Average earning assets
  • $10,143Average equity
  • $113,518Average loans

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