Keystone Community Bank in Kalamazoo, Michigan (MI)

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Keystone Community Bank
GeneralFDIC Certificate #: 34387
Status: Active
Federal Reserve ID: 2597698
Bank Holding Company (Regulatory Top Holder): Firstbank Corporation (RSSDID: 1134322, Location: Alma, MI)
Date Established: July 30, 1997
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
FDIC's unique #: 57150
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: July 30, 1997
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 107 West Michigan Avenue, Kalamazoo, MI 49007
County: Kalamazoo
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): Kalamazoo-Battle Creek, MI (#3720)
Core Based Statistical Area (CBSA): Kalamazoo-Portage, MI (#28020)
CBSA Metro Statistical Area: Kalamazoo-Portage, MI (#28020)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $256.3 mil
Equity capital: $40.5 mil
Deposits held in domestic offices: $212.4 mil
Return on assets (ROA): 0.21% ($0.5 mil)
Quarterly return on assets: 0.78% ($2.0 mil)
Return on Equity (ROE): 1.36% ($0.6 mil)
Quarterly return on equity: 5.04% ($2.1 mil)
Net income: $0.5 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 0.31% ($794.4 mil)
Quarterly Pretax return on assets: 1.17% ($2,998.3 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)
Total employees (full-time equivalent)46
Total assets$256,265
Cash and due from depository institutions$11,267
Interest-bearing balances$5,899
Federal funds sold & reverse repurchase agreements$88
Net loans & leases$182,150
Loan loss allowance $4,939
Trading account assets$0
Bank premises and fixed assets$2,441
Other real estate owned$300
Goodwill and other intangibles$16,389
All other assets$3,380
Life insurance assets$256,265
Total liabilities and capital$215,722
Total liabilities$212,418
Total deposits$172,899
Interest-bearing deposits$212,418
Deposits held in domestic offices$82
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,000
Other borrowed funds $0
Subordinated debt $304
All other liabilities $40,543
Total equity capital$40,543
Total bank equity capital$40,543
Perpetual preferred stock$0
Common stock$2,500
Undivided profits $-1,900
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,737
Earning assets $0
Long-term assets (5+ years) $704
Average Assets, year-to-date $228,387
Average Assets, quarterly $29,624
Volatile liabilities $262,540
Insider loans $260,478
FHLB advances $191,232
Loans and leases held for sale $242,008
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $24,416
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $37,322
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,149
Total interest expense $2,391
Net interest income $9,758
Provision for loan and lease losses $3,150
Total noninterest income $773
Fiduciary activities $0
Service charges on deposit accounts $278
Trading account gains & fees $0
Additional noninterest income $495
Total noninterest expense $6,583
Salaries and employee benefits $2,605
Premises and equipment expense $850
Additional noninterest expense $3,128
Pre-tax net operating income $798
Securities gains (losses) $7
Applicable income taxes $262
Income before extraordinary items $543
Extraordinary gains - net $0
Net income attributable to bank $543
Net charge-offs $0
Cash dividends $543
Sale, conversion, retirement of capital stock, net $4,273
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.19%
Cost of funding earning assets 1.02%
Net interest margin 4.17%
Noninterest income to earning assets 0.33%
Noninterest expense to earning assets 2.81%
Net operating income to assets 0.21%
Return on assets (ROA) 0.21%
Pretax return on assets 0.31%
Return on equity (ROE) 1.36%
Retained earnings to average equity (YTD only) 1.36%
Net charge-offs to loans 2.19%
Credit loss provision to net charge-offs 73.72%
Efficiency ratio0.92%
Assets per employee$61,333
Cash dividends to net income (YTD only)5.57%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.64%
Noncurrent assets plus other real estate owned to assets 132.16%
Noncurrent loans to loans 1.58%
Net loans and leases to deposits2.00%
Net loans and leases to core deposits 85.75%
Equity capital to assets 93.76%
Core capital (leverage) ratio 15.82%
Tier 1 risk-based capital ratio 10.09%
Total risk-based capital ratio 12.77%
Average assets$14
Average earning assets$262,540
Average equity $39,788
Average loans $233,951
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7 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
057150Keystone Community Bank107 West Michigan Avenue, Kalamazoo, MI 49007July 30, 1997Full Service Brick and Mortar
1290602Portage Branch6405 South Westnedge Avenue, Portage, MI 49002July 30, 1997Full Service Brick and Mortar
2429333Drake Branch235 N Drake, Kalamazoo, MI 49009September 17, 2003Full Service Retail
3429334Woodbridge Branch3910 W. Centre Ave, Portage, MI 49024November 03, 2003Full Service Retail
4451891Oakland Drive Branch2925 Oakland Drive, Kalamazoo, MI 49008May 22, 2006Full Service Brick and Mortar
5467995Paw Paw Branch900 East Michigan Avenue, Paw Paw, MI 49079September 17, 2007Full Service Brick and Mortar
6473627Gull Road Branch5073 Gull Road, Kalamazoo, MI 49048March 03, 2008Full Service Brick and Mortar
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