Lotus Bank in Novi, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Lotus Bank in Novi, Michigan (MI)
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Lotus Bank - Overview

  • General
  • FDIC Certificate #: 58340
    Status: Active
    Federal Reserve ID: 3482166
    Bank Holding Company (Regulatory Top Holder): Lotus Bancorp, Inc. (RSSDID: 3547935, Location: Novi, MI)
    Date Established: Febuary 28, 2007
    WWW: http://www.lotusbank.net
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 446323
    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: Febuary 28, 2007
    Last Structure Change Effective Date: April 23, 2010
    Last Structure Change Process Date: June 17, 2010
    Last Data Update: June 17, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 44350 West 12 Mile Road, Novi, MI 48377
    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: $70.0 mil
    Equity capital: $8.6 mil
    Deposits held in domestic offices: $61.3 mil
    Return on assets (ROA): 0.84% ($0.6 mil)
    Quarterly return on assets: 1.19% ($0.8 mil)
    Return on Equity (ROE): 7.29% ($0.7 mil)
    Quarterly return on equity: 9.80% ($0.9 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.84% ($588.4 mil)
    Quarterly Pretax return on assets: 1.19% ($833.5 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
  • 14Total employees (full-time equivalent)
  • $70,046Total assets
  • $939Cash and due from depository institutions
  • $0Interest-bearing balances
  • $8,496Securities
  • $5,665Federal funds sold & reverse repurchase agreements
  • $51,523Net loans & leases
  • $1,101Loan loss allowance
  • $0Trading account assets
  • $2,937Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $70,046Life insurance assets
  • $486All other assets
  • $61,493Total liabilities and capital
  • $61,343Total liabilities
  • $53,390Total deposits
  • $61,343Interest-bearing deposits
  • $73Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $150Subordinated debt
  • $8,553All other liabilities
  • $8,553Total equity capital
  • $8,553Total bank equity capital
  • $0Perpetual preferred stock
  • $5,050Common stock
  • $5,591Surplus
  • $-2,088Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $336Income earned, not collected on loans
  • $0Earning assets
  • $255Long-term assets (5+ years)
  • $65,684Average Assets, year-to-date
  • $7,154Average Assets, quarterly
  • $70,382Volatile liabilities
  • $69,828Insider loans
  • $58,072FHLB advances
  • $70,793Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,376Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,956Restructured Loans and leases
  • $5,115Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,552Total interest income
  • $610Total interest expense
  • $2,942Net interest income
  • $138Provision for loan and lease losses
  • $187Total noninterest income
  • $0Fiduciary activities
  • $37Service charges on deposit accounts
  • $0Trading account gains & fees
  • $150Additional noninterest income
  • $2,400Total noninterest expense
  • $1,151Salaries and employee benefits
  • $356Premises and equipment expense
  • $893Additional noninterest expense
  • $591Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $591Income before extraordinary items
  • $0Extraordinary gains - net
  • $591Net income attributable to bank
  • $0Net charge-offs
  • $591Cash dividends
  • -$4Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.38%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 4.46%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 3.64%Noninterest expense to earning assets
  • 0.84%Net operating income to assets
  • 0.84%Return on assets (ROA)
  • 0.84%Pretax return on assets
  • 7.29%Return on equity (ROE)
  • 7.29%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • -3450.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 76,702Assets per employee
  • 5.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.09%Loss allowance to noncurrent loans
  • 327.68%Noncurrent assets plus other real estate owned to assets
  • 0.48%Noncurrent loans to loans
  • 0.64%Net loans and leases to deposits
  • 83.99%Net loans and leases to core deposits
  • 106.16%Equity capital to assets
  • 12.21%Core capital (leverage) ratio
  • 11.83%Tier 1 risk-based capital ratio
  • 14.42%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $70,382Average earning assets
  • $8,106Average equity
  • $65,972Average loans

List of branches

  • 1 Michigan Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0446323Lotus Bank44350 West 12 Mile Road, Novi, MI 48377Febuary 28, 2007Full Service Brick and Mortar

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