FDIC Certificate #: 34878 Status: Inactive Federal Reserve ID: 2722922 Date Established: January 05, 1999 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 61940 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 05, 1999 Last Structure Change Effective Date: April 16, 2010 Last Structure Change Process Date: April 19, 2010 Last Data Update: April 19, 2010 Data Source Date: April 05, 2012
Location
Address: 43850 Schoenherr Road, Sterling Heights, MI 48313 County: Macomb 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)
History of Changes
Financial Difficulty - Payoff
Financial Summary
Total assets: $49.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
10Total employees (full-time equivalent)
$53,021Total assets
$7,729Cash and due from depository institutions
$4,198Interest-bearing balances
$6,116Securities
$128Federal funds sold & reverse repurchase agreements
$36,999Net loans & leases
$3,282Loan loss allowance
$0Trading account assets
$92Bank premises and fixed assets
$1,539Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$418All other assets
$53,021Total liabilities and capital
$52,435Total liabilities
$52,290Total deposits
$49,861Interest-bearing deposits
$52,290Deposits held in domestic offices
98.72%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$145All other liabilities
$586Total equity capital
$586Total bank equity capital
$586Perpetual preferred stock
$0Common stock
$1,750Surplus
$11,275Undivided profits
Memoranda
$-12,439Noncurrent loans and leases
$1,926Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,971Earning assets
$0Long-term assets (5+ years)
$175Average Assets, year-to-date
$47,441Average Assets, quarterly
$3,622Volatile liabilities
$63,199Insider loans
$59,361FHLB advances
$14,471Loans and leases held for sale
$6Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,926Total unused commitments
$3,940Restructured Loans and leases
$513Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$3,368Total interest income
$1,770Total interest expense
$1,598Net interest income
$3,411Provision for loan and lease losses
-$1,388Total noninterest income
$0Fiduciary activities
$114Service charges on deposit accounts
$0Trading account gains & fees
-$1,502Additional noninterest income
$2,622Total noninterest expense
$1,004Salaries and employee benefits
$347Premises and equipment expense
$1,271Additional noninterest expense
-$5,823Pre-tax net operating income
$337Securities gains (losses)
$0Applicable income taxes
-$5,486Income before extraordinary items
$0Extraordinary gains - net
-$5,486Net income attributable to bank
$0Net charge-offs
-$5,486Cash dividends
$3,435Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.94%Yield on earning assets
3.12%Cost of funding earning assets
2.82%Net interest margin
-2.45%Noninterest income to earning assets
4.63%Noninterest expense to earning assets
-9.21%Net operating income to assets
-8.68%Return on assets (ROA)
-8.68%Pretax return on assets
-204.63%Return on equity (ROE)
-204.63%Retained earnings to average equity (YTD only)
7.80%Net charge-offs to loans
99.30%Credit loss provision to net charge-offs
-0.70%Efficiency ratio
1,248,571Assets per employee
5.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
8.15%Loss allowance to noncurrent loans
82.65%Noncurrent assets plus other real estate owned to assets
10.39%Noncurrent loans to loans
9.86%Net loans and leases to deposits
70.76%Net loans and leases to core deposits
97.83%Equity capital to assets
1.11%Core capital (leverage) ratio
0.89%Tier 1 risk-based capital ratio
1.41%Total risk-based capital ratio
Memoranda
$3Average assets
$63,199Average earning assets
$2,681Average equity
$56,670Average loans
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