Main Street Bank in Bingham Farms, Michigan (MI)

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Main Street Bank
GeneralFDIC Certificate #: 57878
Status: Active
Federal Reserve ID: 3351440
Bank Holding Company (Regulatory Top Holder): North Star Financial Holdings, Inc. (RSSDID: 3351468, Location: Bingham Farms, MI)
Date Established: September 07, 2005
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 428792
Numeric code: 13
Regulator: FED
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: September 07, 2005
Last Structure Change Effective Date: May 10, 2010
Last Structure Change Process Date: June 07, 2010
Last Data Update: June 07, 2010
Data Source Date: April 05, 2012
LocationAddress: 31780 Telegraph Road, Bingham Farms, MI 48025
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)
History of ChangesName Change
Financial SummaryTotal assets: $107.2 mil
Equity capital: $8.0 mil
Deposits held in domestic offices: $99.0 mil
Return on assets (ROA): 1.92% ($2.1 mil)
Quarterly return on assets: 4.13% ($4.4 mil)
Return on Equity (ROE): 26.58% ($2.1 mil)
Quarterly return on equity: 56.79% ($4.5 mil)
Net income: $1.8 mil
Quarterly Net income: $1.1 mil
Pretax return on assets: 1.92% ($2,058.1 mil)
Quarterly Pretax return on assets: 4.13% ($4,427.0 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)64
Total assets$107,192
Cash and due from depository institutions$12,681
Interest-bearing balances$12,355
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$89,121
Loan loss allowance $1,257
Trading account assets$0
Bank premises and fixed assets$439
Other real estate owned$124
Goodwill and other intangibles$192
All other assets$1,180
Life insurance assets$107,192
Total liabilities and capital$99,173
Total liabilities$98,994
Total deposits$88,400
Interest-bearing deposits$98,994
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $179
All other liabilities $8,019
Total equity capital$8,019
Total bank equity capital$8,019
Perpetual preferred stock$0
Common stock$1,285
Undivided profits $-1,979
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $15,324
Income earned, not collected on loans $0
Earning assets $0
Long-term assets (5+ years) $244
Average Assets, year-to-date $104,931
Average Assets, quarterly $18,908
Volatile liabilities $93,840
Insider loans $102,958
FHLB advances $79,983
Loans and leases held for sale $103,843
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $7,798
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $9,219
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,874
Total interest expense $1,106
Net interest income $4,768
Provision for loan and lease losses $82
Total noninterest income $5,074
Fiduciary activities $0
Service charges on deposit accounts $200
Trading account gains & fees $0
Additional noninterest income $4,874
Total noninterest expense $7,958
Salaries and employee benefits $5,195
Premises and equipment expense $402
Additional noninterest expense $2,361
Pre-tax net operating income $1,802
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $1,802
Extraordinary gains - net $0
Net income attributable to bank $1,802
Net charge-offs $0
Cash dividends $1,802
Sale, conversion, retirement of capital stock, net $132
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 assets6.49%
Cost of funding earning assets 1.22%
Net interest margin 5.27%
Noninterest income to earning assets 5.61%
Noninterest expense to earning assets 8.80%
Net operating income to assets 1.92%
Return on assets (ROA) 1.92%
Pretax return on assets 1.92%
Return on equity (ROE) 26.58%
Retained earnings to average equity (YTD only) 26.58%
Net charge-offs to loans 0.18%
Credit loss provision to net charge-offs 62.12%
Efficiency ratio14.27%
Assets per employee$80,858
Cash dividends to net income (YTD only)1.67%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.39%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.12%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 90.03%
Equity capital to assets 116.95%
Core capital (leverage) ratio 7.48%
Tier 1 risk-based capital ratio 7.51%
Total risk-based capital ratio 9.75%
Average assets$11
Average earning assets$93,840
Average equity $6,780
Average loans $90,452
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1 Michigan Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0428792Main Street Bank31780 Telegraph Road, Bingham Farms, MI 48025September 07, 2005Full Service Brick and Mortar
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