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

Honor Bank - Overview

  • General
  • FDIC Certificate #: 8165
    Status: Active
    Federal Reserve ID: 815147
    Bank Holding Company (Regulatory Top Holder): Honor Bancorp, Inc. (RSSDID: 1881680, Location: Honor, MI)
    Date Established: June 15, 1917
    WWW: http://www.myhonorbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    FDIC's unique #: 5202
    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: January 01, 1934
    Last Structure Change Effective Date: August 02, 2010
    Last Structure Change Process Date: August 10, 2010
    Last Data Update: August 10, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 2254 Henry Street, Honor, MI 49640
    County: Benzie
    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
    Core Based Statistical Area (CBSA): Traverse City, MI (#45900)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $190.5 mil
    Equity capital: $17.7 mil
    Deposits held in domestic offices: $165.7 mil
    Return on assets (ROA): 0.39% ($0.7 mil)
    Quarterly return on assets: 0.42% ($0.8 mil)
    Return on Equity (ROE): 4.38% ($0.8 mil)
    Quarterly return on equity: 4.57% ($0.8 mil)
    Net income: $0.8 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.54% ($1,028.7 mil)
    Quarterly Pretax return on assets: 0.59% ($1,123.9 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
  • 73Total employees (full-time equivalent)
  • $190,495Total assets
  • $9,675Cash and due from depository institutions
  • $3,794Interest-bearing balances
  • $27,067Securities
  • $10,203Federal funds sold & reverse repurchase agreements
  • $132,172Net loans & leases
  • $2,979Loan loss allowance
  • $0Trading account assets
  • $4,087Bank premises and fixed assets
  • $187Other real estate owned
  • $607Goodwill and other intangibles
  • $190,495Life insurance assets
  • $6,497All other assets
  • $172,795Total liabilities and capital
  • $165,670Total liabilities
  • $137,647Total deposits
  • $165,670Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 1350.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,816Trading liabilities
  • $0Other borrowed funds
  • $959Subordinated debt
  • $17,700All other liabilities
  • $17,700Total equity capital
  • $17,700Total bank equity capital
  • $0Perpetual preferred stock
  • $750Common stock
  • $7,910Surplus
  • $9,040Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,258Income earned, not collected on loans
  • $272Earning assets
  • $647Long-term assets (5+ years)
  • $173,236Average Assets, year-to-date
  • $20,885Average Assets, quarterly
  • $192,984Volatile liabilities
  • $192,675Insider loans
  • $136,388FHLB advances
  • $189,523Loans and leases held for sale
  • $3,027Unused loan commitments
  • $3,027Tier 1 (core) risk-based capital
  • $16,799Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,703Restructured Loans and leases
  • $6,383Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,159Total interest income
  • $1,502Total interest expense
  • $7,657Net interest income
  • $1,647Provision for loan and lease losses
  • $1,740Total noninterest income
  • $0Fiduciary activities
  • $708Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,032Additional noninterest income
  • $6,709Total noninterest expense
  • $3,336Salaries and employee benefits
  • $1,095Premises and equipment expense
  • $2,278Additional noninterest expense
  • $1,041Pre-tax net operating income
  • -$1Securities gains (losses)
  • $287Applicable income taxes
  • $753Income before extraordinary items
  • $0Extraordinary gains - net
  • $753Net income attributable to bank
  • $0Net charge-offs
  • $753Cash dividends
  • $1,913Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.22%Yield on earning assets
  • 0.86%Cost of funding earning assets
  • 4.36%Net interest margin
  • 0.99%Noninterest income to earning assets
  • 3.82%Noninterest expense to earning assets
  • 0.39%Net operating income to assets
  • 0.39%Return on assets (ROA)
  • 0.54%Pretax return on assets
  • 4.38%Return on equity (ROE)
  • 4.38%Retained earnings to average equity (YTD only)
  • 1.37%Net charge-offs to loans
  • 86.10%Credit loss provision to net charge-offs
  • 1.41%Efficiency ratio
  • 71,395Assets per employee
  • 2.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.20%Loss allowance to noncurrent loans
  • 56.66%Noncurrent assets plus other real estate owned to assets
  • 2.86%Noncurrent loans to loans
  • 3.89%Net loans and leases to deposits
  • 79.78%Net loans and leases to core deposits
  • 80.78%Equity capital to assets
  • 9.29%Core capital (leverage) ratio
  • 8.86%Tier 1 risk-based capital ratio
  • 12.32%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $192,984Average earning assets
  • $17,175Average equity
  • $175,450Average loans

List of branches

  • 10 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05202Honor Bank2254 Henry Street, Honor, MI 49640June 15, 1917Full Service Brick and Mortar
    1218088Benzonia Branch1720 Benzie Highway, Benzonia Township, MI 49616August 23, 1983Full Service Brick and Mortar
    2218089Lake Ann BranchMaple Avenue And Second Street, Lake Ann Village, MI 49650April 10, 1989Full Service Brick and Mortar
    3218090Copemish Branch18075 Cadillac Highway, Copemish, MI 49625October 08, 1990Full Service Brick and Mortar
    4218091Buckley Branch117 East Wexford Avenue, Buckley, MI 49620August 14, 1995Full Service Brick and Mortar
    5359384Bear Lake Branch11926 Chippewa Highway, Bear Lake, MI 49614October 31, 2000Full Service Brick and Mortar
    6359385Traverse City Branch3500 Marketplace Circle, Suite C, Traverse City, MI 49684November 28, 2000Full Service Brick and Mortar
    7441836Manistee Branch1710 U.S. 31 South, Manistee, MI 49660December 01, 2004Full Service Brick and Mortar
    8461765Garfield Avenue Branch1112 South Garfield Avenue, Traverse City, MI 49686March 01, 2007Full Service Brick and Mortar
    9518676Traverse City Mi Courrier Service3500 Marketplace Circle, Suite C, Traverse City, MI 49684April 18, 2011Limited Service Messenger

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