Lakeside Community Bank in Sterling Heights, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 16, 2010

  • Lakeside Community Bank in Sterling Heights, Michigan (MI)
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Lakeside Community Bank - Overview

  • General
  • 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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