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- Banks in Michigan (MI)
- Kent Commerce Bank
Kent Commerce Bank in Kentwood, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of March 31, 2009
- Kent Commerce Bank in Kentwood, Michigan (MI)
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Kent Commerce Bank - Overview
- General
- FDIC Certificate #: 34609
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Michigan Commerce Bank (#33134)
Federal Reserve ID: 2621342
Date Established: January 12, 1998
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 60774
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 12, 1998
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: 4050 Lake Drive, S.E., Kentwood, 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) - Financial Summary
- Total assets: $79.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
- Dollar figures in thousands
- 15Total employees (full-time equivalent)
- $79,904Total assets
- $7,148Cash and due from depository institutions
- $5,107Interest-bearing balances
- $0Securities
- $0Federal funds sold & reverse repurchase agreements
- $68,676Net loans & leases
- $2,459Loan loss allowance
- $0Trading account assets
- $156Bank premises and fixed assets
- $898Other real estate owned
- $791Goodwill and other intangibles
- $0Life insurance assets
- $2,235All other assets
- $79,904Total liabilities and capital
- $72,672Total liabilities
- $68,983Total deposits
- $61,184Interest-bearing deposits
- $68,983Deposits held in domestic offices
- 0.00%% insured (estimated)
- $0Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $3,250Other borrowed funds
- $0Subordinated debt
- $439All other liabilities
- $7,232Total equity capital
- $7,232Total bank equity capital
- $7,232Perpetual preferred stock
- $0Common stock
- $2,405Surplus
- $6,216Undivided profits
- Memoranda
- $-1,389Noncurrent loans and leases
- $9,915Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $1,789Earning assets
- $235Long-term assets (5+ years)
- $280Average Assets, year-to-date
- $73,783Average Assets, quarterly
- $4,984Volatile liabilities
- $84,441Insider loans
- $81,876FHLB advances
- $15,409Loans and leases held for sale
- $0Unused loan commitments
- $3,250Tier 1 (core) risk-based capital
- $816Tier 2 risk-based capital
- $0Total risk weighted assets
- $9,915Total unused commitments
- $0Restructured Loans and leases
- $899Derivatives
Income and Expense (December 31, 2008)
- Dollar figures in thousands
- $5,118Total interest income
- $2,475Total interest expense
- $2,643Net interest income
- $2,540Provision for loan and lease losses
- -$189Total noninterest income
- $0Fiduciary activities
- $77Service charges on deposit accounts
- $0Trading account gains & fees
- -$266Additional noninterest income
- $2,906Total noninterest expense
- $1,252Salaries and employee benefits
- $291Premises and equipment expense
- $1,363Additional noninterest expense
- -$2,992Pre-tax net operating income
- $0Securities gains (losses)
- -$1,013Applicable income taxes
- -$1,979Income before extraordinary items
- $0Extraordinary gains - net
- -$1,979Net income attributable to bank
- $0Net charge-offs
- $0Cash dividends
- $1,608Sale, conversion, retirement of capital stock, net
- $0Net operating income
Performance and Condition Ratios (December 31, 2008)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 6.63%Yield on earning assets
- 3.20%Cost of funding earning assets
- 3.42%Net interest margin
- -0.24%Noninterest income to earning assets
- 3.76%Noninterest expense to earning assets
- -2.34%Net operating income to assets
- -2.34%Return on assets (ROA)
- -3.54%Pretax return on assets
- -26.36%Return on equity (ROE)
- -26.36%Retained earnings to average equity (YTD only)
- 2.08%Net charge-offs to loans
- 157.96%Credit loss provision to net charge-offs
- -0.28%Efficiency ratio
- 118,419Assets per employee
- 5.33%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 0.00%Loss allowance to loans
- 3.46%Loss allowance to noncurrent loans
- 137.45%Noncurrent assets plus other real estate owned to assets
- 3.36%Noncurrent loans to loans
- 2.51%Net loans and leases to deposits
- 99.55%Net loans and leases to core deposits
- 122.47%Equity capital to assets
- 9.05%Core capital (leverage) ratio
- 7.35%Tier 1 risk-based capital ratio
- 8.36%Total risk-based capital ratio
- Memoranda
- $10Average assets
- $84,441Average earning assets
- $7,507Average equity
- $77,224Average loans
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- Banks in Michigan (MI)
- Kent Commerce Bank
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