Midwest Guaranty Bank in Troy, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 2004

  • Midwest Guaranty Bank in Troy, Michigan (MI)
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Midwest Guaranty Bank - Overview

  • General
  • FDIC Certificate #: 27425
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Independent Bank East Michigan (#12732)
    Federal Reserve ID: 1356683
    Date Established: January 03, 1989
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Interstate: No)
    OTS Docket #: 11687
    FDIC's unique #: 39896
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 03, 1989
    Last Structure Change Effective Date: June 01, 2004
    Last Structure Change Process Date: June 23, 2004
    Last Data Update: June 23, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 West Big Beaver Road, Suite 125, Troy, MI 48084
    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)
  • Financial Summary
  • Total assets: $243.4 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, 2003)

  • Dollar figures in thousands
  • 73Total employees (full-time equivalent)
  • $235,048Total assets
  • $7,673Cash and due from depository institutions
  • $19Interest-bearing balances
  • $21,588Securities
  • $31Federal funds sold & reverse repurchase agreements
  • $197,256Net loans & leases
  • $3,170Loan loss allowance
  • $0Trading account assets
  • $5,286Bank premises and fixed assets
  • $181Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $3,033All other assets
  • $235,048Total liabilities and capital
  • $214,622Total liabilities
  • $194,330Total deposits
  • $136,379Interest-bearing deposits
  • $194,330Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $11,750Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,500Other borrowed funds
  • $0Subordinated debt
  • $1,042All other liabilities
  • $20,426Total equity capital
  • $20,426Total bank equity capital
  • $20,426Perpetual preferred stock
  • $0Common stock
  • $2,450Surplus
  • $10,550Undivided profits
  • Memoranda
  • $7,426Noncurrent loans and leases
  • $40,403Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $923Earning assets
  • $0Long-term assets (5+ years)
  • $796Average Assets, year-to-date
  • $218,894Average Assets, quarterly
  • $16,694Volatile liabilities
  • $224,869Insider loans
  • $234,209FHLB advances
  • $52,333Loans and leases held for sale
  • $2,601Unused loan commitments
  • $7,500Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $40,403Total unused commitments
  • $0Restructured Loans and leases
  • $2,668Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $13,008Total interest income
  • $2,272Total interest expense
  • $10,736Net interest income
  • $483Provision for loan and lease losses
  • $1,597Total noninterest income
  • $0Fiduciary activities
  • $777Service charges on deposit accounts
  • $0Trading account gains & fees
  • $820Additional noninterest income
  • $8,230Total noninterest expense
  • $4,831Salaries and employee benefits
  • $1,349Premises and equipment expense
  • $2,050Additional noninterest expense
  • $3,620Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,084Applicable income taxes
  • $2,536Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,536Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$47Sale, conversion, retirement of capital stock, net
  • $5Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.30%Yield on earning assets
  • 1.10%Cost of funding earning assets
  • 5.20%Net interest margin
  • 0.77%Noninterest income to earning assets
  • 3.98%Noninterest expense to earning assets
  • 1.13%Net operating income to assets
  • 1.13%Return on assets (ROA)
  • 1.61%Pretax return on assets
  • 13.51%Return on equity (ROE)
  • 13.48%Retained earnings to average equity (YTD only)
  • -0.03%Net charge-offs to loans
  • -1027.66%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 66,732Assets per employee
  • 3.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.20%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 343.45%Noncurrent assets plus other real estate owned to assets
  • 0.47%Noncurrent loans to loans
  • 0.46%Net loans and leases to deposits
  • 101.51%Net loans and leases to core deposits
  • 126.25%Equity capital to assets
  • 8.69%Core capital (leverage) ratio
  • 8.63%Tier 1 risk-based capital ratio
  • 9.40%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $224,869Average earning assets
  • $18,774Average equity
  • $206,640Average loans

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