Grayling State Bank in Grayling, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 1996

Grayling State Bank in Grayling, Michigan (MI)
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Grayling State Bank - Overview

General
FDIC Certificate #: 16597
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Citizens Bank (#986)
Federal Reserve ID: 988948
Date Established: January 01, 1932
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Interstate: No)
FDIC's unique #: 10741
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: July 10, 1947
Last Structure Change Effective Date: June 01, 1996
Last Structure Change Process Date: June 27, 1996
Last Data Update: June 27, 1996
Data Source Date: April 05, 2012
Location
Address: 305 Michigan Avenue, Grayling, MI 49738
County: Crawford
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
Financial Summary
Total assets: $111.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$35Total assets
$82,739Cash and due from depository institutions
$3,057Interest-bearing balances
$0Securities
$5,603Federal funds sold & reverse repurchase agreements
$3,490Net loans & leases
$67,975Loan loss allowance
$829Trading account assets
$0Bank premises and fixed assets
$1,807Other real estate owned
$22Goodwill and other intangibles
$785Life insurance assets
$0All other assets
$0Total liabilities and capital
$82,739Total liabilities
$76,453Total deposits
$75,848Interest-bearing deposits
$66,488Deposits held in domestic offices
75848.00%% insured (estimated)
$77Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$605Total equity capital
$605Total bank equity capital
$6,286Perpetual preferred stock
$0Common stock
$720Surplus
$1,486Undivided profits
Memoranda
$4,080Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$202Income earned, not collected on loans
$363Earning assets
$77,068Long-term assets (5+ years)
$4,438Average Assets, year-to-date
$77,717Average Assets, quarterly
$83,730Volatile liabilities
$17,161Insider loans
$1,888FHLB advances
$0Loans and leases held for sale
$107Unused loan commitments
$4,225Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,271Total risk weighted assets
$63,309Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$6,397Total interest expense
$2,628Net interest income
$3,769Provision for loan and lease losses
$231Total noninterest income
$372Fiduciary activities
$0Service charges on deposit accounts
$225Trading account gains & fees
$0Additional noninterest income
$147Total noninterest expense
$2,606Salaries and employee benefits
$1,008Premises and equipment expense
$363Additional noninterest expense
$1,235Pre-tax net operating income
$1,304Securities gains (losses)
$0Applicable income taxes
$451Income before extraordinary items
$853Extraordinary gains - net
$0Net income attributable to bank
$853Net charge-offs
$160Cash dividends
$230Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.87%Cost of funding earning assets
3.64%Net interest margin
5.23%Noninterest income to earning assets
0.52%Noninterest expense to earning assets
3.61%Net operating income to assets
1.10%Return on assets (ROA)
1.10%Pretax return on assets
1.68%Return on equity (ROE)
14.54%Retained earnings to average equity (YTD only)
10.62%Net charge-offs to loans
0.25%Credit loss provision to net charge-offs
144.38%Efficiency ratio
62,932Assets per employee
2.36%Cash dividends to net income (YTD only)
Condition Ratios (%)
26.96%Loss allowance to loans
1.20%Loss allowance to noncurrent loans
410.40%Noncurrent assets plus other real estate owned to assets
0.27%Noncurrent loans to loans
0.29%Net loans and leases to deposits
89.62%Net loans and leases to core deposits
115.83%Equity capital to assets
7.60%Core capital (leverage) ratio
7.61%Tier 1 risk-based capital ratio
9.91%Total risk-based capital ratio
Memoranda
$11Average assets
$77,717Average earning assets
$5,868Average equity
$72,104Average loans

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