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

  • Firstbank - West Branch in West Branch, Michigan (MI)
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Firstbank - West Branch - Overview

  • General
  • FDIC Certificate #: 23309
    Status: Active
    Federal Reserve ID: 431743
    Bank Holding Company (Regulatory Top Holder): Firstbank Corporation (RSSDID: 1134322, Location: Alma, MI)
    Date Established: December 23, 1980
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 11422
    FDIC's unique #: 16339
    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: December 23, 1980
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 502 West Houghton Avenue, West Branch, MI 48661
    County: Ogemaw
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $248.5 mil
    Equity capital: $21.1 mil
    Deposits held in domestic offices: $202.2 mil
    Return on assets (ROA): 0.48% ($1.2 mil)
    Quarterly return on assets: 0.46% ($1.1 mil)
    Return on Equity (ROE): 5.60% ($1.2 mil)
    Quarterly return on equity: 5.33% ($1.1 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.67% ($1,664.7 mil)
    Quarterly Pretax return on assets: 0.64% ($1,590.1 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
  • 78Total employees (full-time equivalent)
  • $248,460Total assets
  • $9,817Cash and due from depository institutions
  • $1,535Interest-bearing balances
  • $41,735Securities
  • $97Federal funds sold & reverse repurchase agreements
  • $185,184Net loans & leases
  • $3,552Loan loss allowance
  • $0Trading account assets
  • $3,823Bank premises and fixed assets
  • $1,365Other real estate owned
  • $960Goodwill and other intangibles
  • $248,460Life insurance assets
  • $5,479All other assets
  • $227,330Total liabilities and capital
  • $202,150Total liabilities
  • $158,880Total deposits
  • $202,150Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 9990.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $13,642Trading liabilities
  • $0Other borrowed funds
  • $1,548Subordinated debt
  • $21,130All other liabilities
  • $21,130Total equity capital
  • $21,130Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $12,435Surplus
  • $8,195Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $47Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,783Income earned, not collected on loans
  • $0Earning assets
  • $750Long-term assets (5+ years)
  • $228,551Average Assets, year-to-date
  • $69,338Average Assets, quarterly
  • $245,308Volatile liabilities
  • $247,923Insider loans
  • $170,616FHLB advances
  • $246,765Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $20,693Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $34,463Restructured Loans and leases
  • $8,360Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,952Total interest income
  • $1,769Total interest expense
  • $11,183Net interest income
  • $3,085Provision for loan and lease losses
  • $882Total noninterest income
  • $0Fiduciary activities
  • $500Service charges on deposit accounts
  • $0Trading account gains & fees
  • $382Additional noninterest income
  • $7,333Total noninterest expense
  • $3,350Salaries and employee benefits
  • $621Premises and equipment expense
  • $3,362Additional noninterest expense
  • $1,647Pre-tax net operating income
  • $0Securities gains (losses)
  • $465Applicable income taxes
  • $1,182Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,182Net income attributable to bank
  • $0Net charge-offs
  • $1,182Cash dividends
  • $2,284Sale, conversion, retirement of capital stock, net
  • $1,800Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.73%Yield on earning assets
  • 0.78%Cost of funding earning assets
  • 4.94%Net interest margin
  • 0.39%Noninterest income to earning assets
  • 3.24%Noninterest expense to earning assets
  • 0.48%Net operating income to assets
  • 0.48%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 5.60%Return on equity (ROE)
  • -2.93%Retained earnings to average equity (YTD only)
  • 1.19%Net charge-offs to loans
  • 135.07%Credit loss provision to net charge-offs
  • 2.07%Efficiency ratio
  • 60,779Assets per employee
  • 3.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 152.28%Loss allowance to loans
  • 1.88%Loss allowance to noncurrent loans
  • 61.42%Noncurrent assets plus other real estate owned to assets
  • 2.88%Noncurrent loans to loans
  • 3.06%Net loans and leases to deposits
  • 91.61%Net loans and leases to core deposits
  • 97.72%Equity capital to assets
  • 8.50%Core capital (leverage) ratio
  • 8.39%Tier 1 risk-based capital ratio
  • 12.13%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $245,308Average earning assets
  • $21,108Average equity
  • $226,181Average loans

List of branches

  • 11 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016339Firstbank - West Branch502 West Houghton Avenue, West Branch, MI 48661December 23, 1980Full Service Brick and Mortar
    12561952087 South M-76 Branch2087 South M-76, West Branch, MI 48661December 01, 1990Full Service Brick and Mortar
    2256196Rose City Branch505 South Bennett Street, Rose City, MI 48654January 04, 1993Full Service Brick and Mortar
    3256197St. Helen Branch2040 North St. Helen Road, St. Helen, MI 48656January 17, 1994Full Service Brick and Mortar
    4256198Hale Branch3281 M-65, Hale, MI 48739April 20, 1994Full Service Brick and Mortar
    5225629Higgins Lake Branch4522 West Higgins Lake Drive, Higgins Lake, MI 48627January 04, 1971Full Service Brick and Mortar
    6225630Comins Township Branch1979 East Miller Road, Comins Township, MI 48621August 28, 1972Full Service Brick and Mortar
    7256199601 Houghton Branch601 West Houghton Avenue, West Branch, MI 48661December 16, 1996Limited Service Loan Production
    8357303M-30 Branch2375 M-30, West Branch, MI 48661May 22, 2000Full Service Brick and Mortar
    9446882Court Street Branch646 Court Street, West Branch, MI 48661December 28, 2005Limited Service Mobile
    10452052Prescott Branch211 Harrison Street, Prescott, MI 48756June 26, 2006Full Service Brick and Mortar

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