Independent Bank East Michigan in Troy, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 15, 2007

  • Independent Bank East Michigan in Troy, Michigan (MI)
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Independent Bank East Michigan - Overview

  • General
  • FDIC Certificate #: 12732
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Independent Bank (#27811)
    Federal Reserve ID: 144043
    Date Established: January 01, 1904
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 28 (Interstate: No)
    OTS Docket #: 12681
    FDIC's unique #: 8071
    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: January 01, 1934
    Last Structure Change Effective Date: September 15, 2007
    Last Structure Change Process Date: October 01, 2007
    Last Data Update: October 01, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 West Big Beaver Road, Suite 125, Troy, MI 48084
    County: Oakland
    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
    Metropolitan Statistical Area (MSA): Detroit, MI (#2160)
    Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
    Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
    Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820)
    CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820)
    Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
  • Financial Summary
  • Total assets: $695.5 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, 2006)

  • Dollar figures in thousands
  • 186Total employees (full-time equivalent)
  • $712,618Total assets
  • $16,610Cash and due from depository institutions
  • $0Interest-bearing balances
  • $80,814Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $554,329Net loans & leases
  • $7,245Loan loss allowance
  • $0Trading account assets
  • $13,304Bank premises and fixed assets
  • $334Other real estate owned
  • $30,513Goodwill and other intangibles
  • $7,047Life insurance assets
  • $16,714All other assets
  • $712,618Total liabilities and capital
  • $630,706Total liabilities
  • $609,695Total deposits
  • $526,466Interest-bearing deposits
  • $609,695Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,342Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $13,481Other borrowed funds
  • $0Subordinated debt
  • $6,188All other liabilities
  • $81,912Total equity capital
  • $81,912Total bank equity capital
  • $81,912Perpetual preferred stock
  • $0Common stock
  • $265Surplus
  • $70,235Undivided profits
  • Memoranda
  • $11,412Noncurrent loans and leases
  • $88,627Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $11,867Earning assets
  • $0Long-term assets (5+ years)
  • $3,946Average Assets, year-to-date
  • $635,143Average Assets, quarterly
  • $89,147Volatile liabilities
  • $720,802Insider loans
  • $718,010FHLB advances
  • $250,230Loans and leases held for sale
  • $5,103Unused loan commitments
  • $11,000Tier 1 (core) risk-based capital
  • $199,783Tier 2 risk-based capital
  • $4,961Total risk weighted assets
  • $88,627Total unused commitments
  • $0Restructured Loans and leases
  • $7,184Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $47,577Total interest income
  • $18,687Total interest expense
  • $28,890Net interest income
  • $6,009Provision for loan and lease losses
  • $5,944Total noninterest income
  • $0Fiduciary activities
  • $3,072Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,872Additional noninterest income
  • $21,862Total noninterest expense
  • $8,820Salaries and employee benefits
  • $3,528Premises and equipment expense
  • $9,514Additional noninterest expense
  • $6,963Pre-tax net operating income
  • $171Securities gains (losses)
  • $1,540Applicable income taxes
  • $5,594Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,594Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,736Sale, conversion, retirement of capital stock, net
  • $8,300Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.38%Yield on earning assets
  • 2.90%Cost of funding earning assets
  • 4.48%Net interest margin
  • 0.92%Noninterest income to earning assets
  • 3.39%Noninterest expense to earning assets
  • 0.76%Net operating income to assets
  • 0.78%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 6.66%Return on equity (ROE)
  • -3.22%Retained earnings to average equity (YTD only)
  • 0.66%Net charge-offs to loans
  • 160.84%Credit loss provision to net charge-offs
  • 3.47%Efficiency ratio
  • 58,328Assets per employee
  • 3.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 148.37%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 61.05%Noncurrent assets plus other real estate owned to assets
  • 1.71%Noncurrent loans to loans
  • 2.11%Net loans and leases to deposits
  • 90.92%Net loans and leases to core deposits
  • 152.59%Equity capital to assets
  • 11.49%Core capital (leverage) ratio
  • 7.59%Tier 1 risk-based capital ratio
  • 9.19%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $720,802Average earning assets
  • $84,000Average equity
  • $644,995Average loans

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