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)
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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

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