MFC First National Bank in Menominee, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 22, 2000

MFC First National Bank in Menominee, Michigan (MI)
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MFC First National Bank - Overview

General
FDIC Certificate #: 5069
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wells Fargo Bank Michigan, National Association (#5067)
Federal Reserve ID: 324050
Date Established: January 01, 1884
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 4 (Interstate: No)
OTS Docket #: 12072
FDIC's unique #: 3385
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 22, 2000
Last Structure Change Process Date: August 18, 2000
Last Data Update: August 18, 2000
Data Source Date: April 05, 2012
Location
Address: 962 First Street, Menominee, MI 49858
County: Menominee
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: San Francisco
FDIC Field Office: Appleton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Marinette, WI-MI (#31940)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $116.1 mil

1992 - 1999 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, 1999)

Dollar figures in thousands
52Total employees (full-time equivalent)
$102,064Total assets
$5,556Cash and due from depository institutions
$76Interest-bearing balances
$20,201Securities
$0Federal funds sold & reverse repurchase agreements
$71,737Net loans & leases
$1,130Loan loss allowance
$0Trading account assets
$2,609Bank premises and fixed assets
$124Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,837All other assets
$102,064Total liabilities and capital
$92,066Total liabilities
$85,192Total deposits
$79,291Interest-bearing deposits
$85,192Deposits held in domestic offices
0.00%% insured (estimated)
$5,525Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,349All other liabilities
$9,998Total equity capital
$9,998Total bank equity capital
$9,998Perpetual preferred stock
$0Common stock
$250Surplus
$520Undivided profits
Memoranda
$9,228Noncurrent loans and leases
$20,706Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$23Earning assets
$23Long-term assets (5+ years)
$359Average Assets, year-to-date
$92,014Average Assets, quarterly
$1,514Volatile liabilities
$99,897Insider loans
$101,123FHLB advances
$8,250Loans and leases held for sale
$3,529Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$20,706Total unused commitments
$0Restructured Loans and leases
$962Derivatives

Income and Expense (December 31, 1999)

Dollar figures in thousands
$7,378Total interest income
$3,435Total interest expense
$3,943Net interest income
$70Provision for loan and lease losses
$2,390Total noninterest income
$1,589Fiduciary activities
$340Service charges on deposit accounts
$0Trading account gains & fees
$461Additional noninterest income
$4,193Total noninterest expense
$1,970Salaries and employee benefits
$557Premises and equipment expense
$1,666Additional noninterest expense
$2,070Pre-tax net operating income
$0Securities gains (losses)
$682Applicable income taxes
$1,388Income before extraordinary items
$0Extraordinary gains - net
$1,388Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$30Sale, conversion, retirement of capital stock, net
$985Net operating income

Performance and Condition Ratios (December 31, 1999)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.10%Yield on earning assets
3.77%Cost of funding earning assets
4.33%Net interest margin
2.62%Noninterest income to earning assets
4.60%Noninterest expense to earning assets
1.39%Net operating income to assets
1.39%Return on assets (ROA)
2.07%Pretax return on assets
13.96%Return on equity (ROE)
4.05%Retained earnings to average equity (YTD only)
0.04%Net charge-offs to loans
233.33%Credit loss provision to net charge-offs
71.33%Efficiency ratio
66,209Assets per employee
1.96%Cash dividends to net income (YTD only)
Condition Ratios (%)
70.97%Loss allowance to loans
1.55%Loss allowance to noncurrent loans
4913.04%Noncurrent assets plus other real estate owned to assets
0.14%Noncurrent loans to loans
0.03%Net loans and leases to deposits
84.21%Net loans and leases to core deposits
86.99%Equity capital to assets
9.80%Core capital (leverage) ratio
10.18%Tier 1 risk-based capital ratio
13.38%Total risk-based capital ratio
Memoranda
$15Average assets
$99,897Average earning assets
$9,941Average equity
$91,098Average loans

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