Grand Haven Bank in Grand Haven, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 31, 2009

  • Grand Haven Bank in Grand Haven, Michigan (MI)
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Grand Haven Bank - Overview

  • General
  • FDIC Certificate #: 34008
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Michigan Commerce Bank (#33134)
    Federal Reserve ID: 2297073
    Date Established: May 01, 1995
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    OTS Docket #: 15911
    FDIC's unique #: 55586
    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: May 01, 1995
    Last Structure Change Effective Date: March 31, 2009
    Last Structure Change Process Date: April 02, 2009
    Last Data Update: April 02, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 333 Washington Avenue, Grand Haven, MI 49417
    County: Ottawa
    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): Holland-Grand Haven, MI (#26100)
    CBSA Metro Statistical Area: Holland-Grand Haven, MI (#26100)
  • Financial Summary
  • Total assets: $120.7 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, 2008)

  • Dollar figures in thousands
  • 21Total employees (full-time equivalent)
  • $120,686Total assets
  • $12,735Cash and due from depository institutions
  • $10,117Interest-bearing balances
  • $0Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $98,895Net loans & leases
  • $4,587Loan loss allowance
  • $0Trading account assets
  • $2,616Bank premises and fixed assets
  • $1,890Other real estate owned
  • $65Goodwill and other intangibles
  • $70Life insurance assets
  • $4,485All other assets
  • $120,686Total liabilities and capital
  • $111,700Total liabilities
  • $109,189Total deposits
  • $98,201Interest-bearing deposits
  • $109,189Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $2,000Other borrowed funds
  • $0Subordinated debt
  • $511All other liabilities
  • $8,986Total equity capital
  • $8,986Total bank equity capital
  • $8,986Perpetual preferred stock
  • $0Common stock
  • $1,250Surplus
  • $10,069Undivided profits
  • Memoranda
  • $-2,333Noncurrent loans and leases
  • $13,434Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $13,036Earning assets
  • $0Long-term assets (5+ years)
  • $405Average Assets, year-to-date
  • $109,012Average Assets, quarterly
  • $2,312Volatile liabilities
  • $126,232Insider loans
  • $118,593FHLB advances
  • $26,544Loans and leases held for sale
  • $0Unused loan commitments
  • $2,000Tier 1 (core) risk-based capital
  • $3,562Tier 2 risk-based capital
  • $378Total risk weighted assets
  • $13,434Total unused commitments
  • $0Restructured Loans and leases
  • $1,331Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $6,760Total interest income
  • $3,492Total interest expense
  • $3,268Net interest income
  • $5,617Provision for loan and lease losses
  • $128Total noninterest income
  • $0Fiduciary activities
  • $195Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$67Additional noninterest income
  • $2,845Total noninterest expense
  • $929Salaries and employee benefits
  • $264Premises and equipment expense
  • $1,652Additional noninterest expense
  • -$5,066Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,720Applicable income taxes
  • -$3,346Income before extraordinary items
  • $0Extraordinary gains - net
  • -$3,346Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,674Sale, conversion, retirement of capital stock, net
  • $127Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.90%Yield on earning assets
  • 3.05%Cost of funding earning assets
  • 2.85%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 2.48%Noninterest expense to earning assets
  • -2.65%Net operating income to assets
  • -2.65%Return on assets (ROA)
  • -4.01%Pretax return on assets
  • -35.71%Return on equity (ROE)
  • -37.07%Retained earnings to average equity (YTD only)
  • 3.24%Net charge-offs to loans
  • 152.89%Credit loss provision to net charge-offs
  • 0.15%Efficiency ratio
  • 83,775Assets per employee
  • 5.75%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -3.80%Loss allowance to loans
  • 4.43%Loss allowance to noncurrent loans
  • 35.19%Noncurrent assets plus other real estate owned to assets
  • 12.37%Noncurrent loans to loans
  • 12.60%Net loans and leases to deposits
  • 90.57%Net loans and leases to core deposits
  • 118.23%Equity capital to assets
  • 7.45%Core capital (leverage) ratio
  • 7.26%Tier 1 risk-based capital ratio
  • 8.26%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $126,232Average earning assets
  • $9,369Average equity
  • $114,569Average loans

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