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

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Firstbank - West Branch routing number info

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Firstbank - West Branch
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)78
Total assets$248,460
Cash and due from depository institutions$9,817
Interest-bearing balances$1,535
Federal funds sold & reverse repurchase agreements$97
Net loans & leases$185,184
Loan loss allowance $3,552
Trading account assets$0
Bank premises and fixed assets$3,823
Other real estate owned$1,365
Goodwill and other intangibles$960
All other assets$5,479
Life insurance assets$248,460
Total liabilities and capital$227,330
Total liabilities$202,150
Total deposits$158,880
Interest-bearing deposits$202,150
Deposits held in domestic offices$93
% insured (estimated)9990.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$13,642
Other borrowed funds $0
Subordinated debt $1,548
All other liabilities $21,130
Total equity capital$21,130
Total bank equity capital$21,130
Perpetual preferred stock$0
Common stock$500
Undivided profits $8,195
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $47
Income earned, not collected on loans $5,783
Earning assets $0
Long-term assets (5+ years) $750
Average Assets, year-to-date $228,551
Average Assets, quarterly $69,338
Volatile liabilities $245,308
Insider loans $247,923
FHLB advances $170,616
Loans and leases held for sale $246,765
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $20,693
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $34,463
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,952
Total interest expense $1,769
Net interest income $11,183
Provision for loan and lease losses $3,085
Total noninterest income $882
Fiduciary activities $0
Service charges on deposit accounts $500
Trading account gains & fees $0
Additional noninterest income $382
Total noninterest expense $7,333
Salaries and employee benefits $3,350
Premises and equipment expense $621
Additional noninterest expense $3,362
Pre-tax net operating income $1,647
Securities gains (losses) $0
Applicable income taxes $465
Income before extraordinary items $1,182
Extraordinary gains - net $0
Net income attributable to bank $1,182
Net charge-offs $0
Cash dividends $1,182
Sale, conversion, retirement of capital stock, net $2,284
Net operating income $1,800
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.73%
Cost of funding earning assets 0.78%
Net interest margin 4.94%
Noninterest income to earning assets 0.39%
Noninterest expense to earning assets 3.24%
Net operating income to assets 0.48%
Return on assets (ROA) 0.48%
Pretax return on assets 0.67%
Return on equity (ROE) 5.60%
Retained earnings to average equity (YTD only) -2.93%
Net charge-offs to loans 1.19%
Credit loss provision to net charge-offs 135.07%
Efficiency ratio2.07%
Assets per employee$60,779
Cash dividends to net income (YTD only)3.19%
Condition Ratios (%)
Loss allowance to loans 152.28%
Loss allowance to noncurrent loans 1.88%
Noncurrent assets plus other real estate owned to assets 61.42%
Noncurrent loans to loans 2.88%
Net loans and leases to deposits3.06%
Net loans and leases to core deposits 91.61%
Equity capital to assets 97.72%
Core capital (leverage) ratio 8.50%
Tier 1 risk-based capital ratio 8.39%
Total risk-based capital ratio 12.13%
Average assets$13
Average earning assets$245,308
Average equity $21,108
Average loans $226,181
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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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