Mainstreet Savings Bank, FSB in Hastings, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 16, 2010

  • Mainstreet Savings Bank, FSB in Hastings, Michigan (MI)
  • Show street view No street view available for this location

Mainstreet Savings Bank, FSB - Overview

  • General
  • FDIC Certificate #: 28136
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Commercial Bank (#18584)
    Federal Reserve ID: 854977
    Date Established: January 01, 1924
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 966
    FDIC's unique #: 40970
    Numeric code: 34
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: December 16, 1959
    Last Structure Change Effective Date: July 16, 2010
    Last Structure Change Process Date: July 19, 2010
    Last Data Update: July 19, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 629 West State Street, Hastings, MI 49058
    County: Barry
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Grand Rapids
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
    Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
    CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
  • Financial Summary
  • Total assets: $96.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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
  • 34Total employees (full-time equivalent)
  • $98,851Total assets
  • $10,353Cash and due from depository institutions
  • $8,077Interest-bearing balances
  • $1,029Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $79,323Net loans & leases
  • $1,185Loan loss allowance
  • $0Trading account assets
  • $3,254Bank premises and fixed assets
  • $2,040Other real estate owned
  • $543Goodwill and other intangibles
  • $0Life insurance assets
  • $2,309All other assets
  • $98,851Total liabilities and capital
  • $96,093Total liabilities
  • $64,579Total deposits
  • $60,282Interest-bearing deposits
  • $64,579Deposits held in domestic offices
  • 99.88%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $31,099Other borrowed funds
  • $0Subordinated debt
  • $415All other liabilities
  • $2,758Total equity capital
  • $2,758Total bank equity capital
  • $2,758Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $2,700Undivided profits
  • Memoranda
  • $58Noncurrent loans and leases
  • $5,411Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,370Earning assets
  • $0Long-term assets (5+ years)
  • $372Average Assets, year-to-date
  • $88,429Average Assets, quarterly
  • $0Volatile liabilities
  • $108,264Insider loans
  • $101,442FHLB advances
  • $40,174Loans and leases held for sale
  • $876Unused loan commitments
  • $30,900Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,411Total unused commitments
  • $4,634Restructured Loans and leases
  • $738Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $5,177Total interest income
  • $2,094Total interest expense
  • $3,083Net interest income
  • $2,345Provision for loan and lease losses
  • $703Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $703Additional noninterest income
  • $4,458Total noninterest expense
  • $1,751Salaries and employee benefits
  • $734Premises and equipment expense
  • $1,973Additional noninterest expense
  • -$3,017Pre-tax net operating income
  • $43Securities gains (losses)
  • $0Applicable income taxes
  • -$2,974Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,974Net income attributable to bank
  • $0Net charge-offs
  • -$2,974Cash dividends
  • $2,325Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.28%Yield on earning assets
  • 2.14%Cost of funding earning assets
  • 3.14%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 4.55%Noninterest expense to earning assets
  • -2.79%Net operating income to assets
  • -2.75%Return on assets (ROA)
  • -2.75%Pretax return on assets
  • -62.37%Return on equity (ROE)
  • -62.37%Retained earnings to average equity (YTD only)
  • 2.62%Net charge-offs to loans
  • 100.86%Credit loss provision to net charge-offs
  • -0.29%Efficiency ratio
  • 113,629Assets per employee
  • 2.91%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.47%Loss allowance to noncurrent loans
  • 27.12%Noncurrent assets plus other real estate owned to assets
  • 6.48%Noncurrent loans to loans
  • 5.43%Net loans and leases to deposits
  • 122.83%Net loans and leases to core deposits
  • 142.91%Equity capital to assets
  • 2.79%Core capital (leverage) ratio
  • 2.23%Tier 1 risk-based capital ratio
  • 3.72%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $108,264Average earning assets
  • $4,768Average equity
  • $98,053Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Mainstreet Savings Bank, FSB.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents