Michigan Heritage Bank in Farmington Hills, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 27, 2009

  • Michigan Heritage Bank in Farmington Hills, Michigan (MI)
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Michigan Heritage Bank - Overview

  • General
  • FDIC Certificate #: 34369
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Level One Bank (#58604)
    Federal Reserve ID: 2519001
    Date Established: March 10, 1997
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 4 (Interstate: No)
    FDIC's unique #: 57128
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: March 10, 1997
    Last Structure Change Effective Date: April 27, 2009
    Last Structure Change Process Date: April 27, 2009
    Last Data Update: April 27, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 28300 Orchard Lake Road, Farmington Hills, MI 48334
    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 Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $167.7 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, 2008)

  • Dollar figures in thousands
  • 31Total employees (full-time equivalent)
  • $179,653Total assets
  • $14,525Cash and due from depository institutions
  • $13,882Interest-bearing balances
  • $26,435Securities
  • $549Federal funds sold & reverse repurchase agreements
  • $124,530Net loans & leases
  • $5,336Loan loss allowance
  • $0Trading account assets
  • $1,993Bank premises and fixed assets
  • $1,947Other real estate owned
  • $0Goodwill and other intangibles
  • $1,983Life insurance assets
  • $9,674All other assets
  • $179,653Total liabilities and capital
  • $173,254Total liabilities
  • $160,088Total deposits
  • $148,142Interest-bearing deposits
  • $160,088Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $5,000Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $6,000Other borrowed funds
  • $0Subordinated debt
  • $2,166All other liabilities
  • $6,399Total equity capital
  • $6,399Total bank equity capital
  • $6,399Perpetual preferred stock
  • $0Common stock
  • $3,000Surplus
  • $9,820Undivided profits
  • Memoranda
  • $-6,421Noncurrent loans and leases
  • $6,843Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $11,229Earning assets
  • $0Long-term assets (5+ years)
  • $1,251Average Assets, year-to-date
  • $165,396Average Assets, quarterly
  • $14,079Volatile liabilities
  • $183,032Insider loans
  • $180,632FHLB advances
  • $86,577Loans and leases held for sale
  • $0Unused loan commitments
  • $6,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $6,843Total unused commitments
  • $3,539Restructured Loans and leases
  • $1,902Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $11,031Total interest income
  • $6,338Total interest expense
  • $4,693Net interest income
  • $10,484Provision for loan and lease losses
  • $386Total noninterest income
  • $0Fiduciary activities
  • $64Service charges on deposit accounts
  • $0Trading account gains & fees
  • $322Additional noninterest income
  • $6,710Total noninterest expense
  • $2,561Salaries and employee benefits
  • $1,049Premises and equipment expense
  • $3,100Additional noninterest expense
  • -$12,115Pre-tax net operating income
  • -$813Securities gains (losses)
  • -$4,374Applicable income taxes
  • -$8,554Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,554Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $8,587Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.42%Yield on earning assets
  • 3.69%Cost of funding earning assets
  • 2.73%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 3.91%Noninterest expense to earning assets
  • -4.38%Net operating income to assets
  • -4.67%Return on assets (ROA)
  • -7.06%Pretax return on assets
  • -74.86%Return on equity (ROE)
  • -74.86%Retained earnings to average equity (YTD only)
  • 6.03%Net charge-offs to loans
  • 122.09%Credit loss provision to net charge-offs
  • -0.19%Efficiency ratio
  • 132,113Assets per employee
  • 5.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.11%Loss allowance to noncurrent loans
  • 47.52%Noncurrent assets plus other real estate owned to assets
  • 7.33%Noncurrent loans to loans
  • 8.65%Net loans and leases to deposits
  • 77.79%Net loans and leases to core deposits
  • 158.61%Equity capital to assets
  • 3.56%Core capital (leverage) ratio
  • 1.61%Tier 1 risk-based capital ratio
  • 1.91%Total risk-based capital ratio
  • Memoranda
  • $3Average assets
  • $183,032Average earning assets
  • $11,427Average equity
  • $171,793Average loans

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