Founders Bank & Trust in Grand Rapids, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Founders Bank & Trust in Grand Rapids, Michigan (MI)
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Founders Bank & Trust - Overview

  • General
  • FDIC Certificate #: 33533
    Status: Active
    Federal Reserve ID: 1933927
    Bank Holding Company (Regulatory Top Holder): Founders Financial Corporation (RSSDID: 2658197, Location: Grand Rapids, MI)
    Date Established: December 10, 1991
    WWW: http://www.foundersbt.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 13435
    FDIC's unique #: 47383
    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 10, 1991
    Last Structure Change Effective Date: June 07, 2006
    Last Structure Change Process Date: July 20, 2006
    Last Data Update: July 20, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 5200 Cascade Road, S.E., Grand Rapids, MI 49546
    County: Kent
    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
    Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000)
    Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
    Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
    CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $430.8 mil
    Equity capital: $39.4 mil
    Deposits held in domestic offices: $364.2 mil
    Return on assets (ROA): 1.06% ($4.6 mil)
    Quarterly return on assets: 1.21% ($5.2 mil)
    Return on Equity (ROE): 11.93% ($4.7 mil)
    Quarterly return on equity: 13.41% ($5.2 mil)
    Net income: $4.5 mil
    Quarterly Net income: $1.3 mil
    Pretax return on assets: 1.50% ($6,461.6 mil)
    Quarterly Pretax return on assets: 1.75% ($7,538.6 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
  • 90Total employees (full-time equivalent)
  • $430,776Total assets
  • $16,166Cash and due from depository institutions
  • $11,339Interest-bearing balances
  • $79,401Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $309,772Net loans & leases
  • $4,210Loan loss allowance
  • $0Trading account assets
  • $5,624Bank premises and fixed assets
  • $2,887Other real estate owned
  • $273Goodwill and other intangibles
  • $430,776Life insurance assets
  • $16,653All other assets
  • $391,345Total liabilities and capital
  • $364,241Total liabilities
  • $311,975Total deposits
  • $364,241Interest-bearing deposits
  • $80Deposits held in domestic offices
  • 7028.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $18,254Trading liabilities
  • $0Other borrowed funds
  • $1,822Subordinated debt
  • $39,431All other liabilities
  • $39,431Total equity capital
  • $39,431Total bank equity capital
  • $0Perpetual preferred stock
  • $3,021Common stock
  • $17,988Surplus
  • $18,422Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $5,064Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,436Income earned, not collected on loans
  • $29Earning assets
  • $1,381Long-term assets (5+ years)
  • $400,512Average Assets, year-to-date
  • $151,954Average Assets, quarterly
  • $422,642Volatile liabilities
  • $432,100Insider loans
  • $313,368FHLB advances
  • $432,315Loans and leases held for sale
  • $7,597Unused loan commitments
  • $5,881Tier 1 (core) risk-based capital
  • $37,613Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,716Total unused commitments
  • $57,993Restructured Loans and leases
  • $2,365Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $19,948Total interest income
  • $4,922Total interest expense
  • $15,026Net interest income
  • $1,000Provision for loan and lease losses
  • $4,620Total noninterest income
  • $2,086Fiduciary activities
  • $241Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,293Additional noninterest income
  • $12,295Total noninterest expense
  • $7,493Salaries and employee benefits
  • $1,286Premises and equipment expense
  • $3,516Additional noninterest expense
  • $6,351Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,853Applicable income taxes
  • $4,498Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,498Net income attributable to bank
  • $0Net charge-offs
  • $4,498Cash dividends
  • $1,220Sale, conversion, retirement of capital stock, net
  • $2,579Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 1.25%Cost of funding earning assets
  • 3.82%Net interest margin
  • 1.18%Noninterest income to earning assets
  • 3.13%Noninterest expense to earning assets
  • 1.06%Net operating income to assets
  • 1.06%Return on assets (ROA)
  • 1.50%Pretax return on assets
  • 11.93%Return on equity (ROE)
  • 5.09%Retained earnings to average equity (YTD only)
  • 0.38%Net charge-offs to loans
  • 81.97%Credit loss provision to net charge-offs
  • 6.03%Efficiency ratio
  • 62,583Assets per employee
  • 4.79%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 57.34%Loss allowance to loans
  • 1.34%Loss allowance to noncurrent loans
  • 172.82%Noncurrent assets plus other real estate owned to assets
  • 1.24%Noncurrent loans to loans
  • 0.78%Net loans and leases to deposits
  • 85.05%Net loans and leases to core deposits
  • 100.78%Equity capital to assets
  • 9.15%Core capital (leverage) ratio
  • 8.70%Tier 1 risk-based capital ratio
  • 12.00%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $422,642Average earning assets
  • $37,709Average equity
  • $393,183Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $282,893Managed Assets
  • 1Number of Accounts
  • $220,003Personal trust and agency accounts
  • $34,021Employee benefit-defined contribution accounts
  • $13,918Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $71,229Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $89,502Other fiduciary accounts
  • $6,273Fiduciary accounts held in foreign offices
  • $5,060Non-managed Assets
  • 673Number of Accounts
  • $0Personal trust and agency accounts
  • $71,030Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $62,890Other retirement accounts
  • $1,273Corporate trust and agency accounts
  • $51,000Other fiduciary accounts
  • $3,739Fiduciary accounts held in foreign offices

List of branches

  • 4 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    047383Founders Bank & Trust5200 Cascade Road, S.E., Grand Rapids, MI 49546December 10, 1991Full Service Brick and Mortar
    1334342Monroe Street Branch161 Monroe Street, N.W., Grand Rapids, MI 49503May 04, 2000Full Service Brick and Mortar
    2442352Grandville Branch5601 Wilson Ave, S.W., Grandville, MI 49418December 20, 2004Full Service Brick and Mortar
    3458098Northland Branch5020 East Beltline Avenue Ne,, Grand Rapids, MI 49525January 15, 2007Full Service Brick and Mortar

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