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- Banks in Michigan (MI)
- North Bank
North Bank in Hale, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of August 12, 1996
- North Bank in Hale, Michigan (MI)
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North Bank - Overview
- General
- FDIC Certificate #: 17080
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Independent Bank (#8180)
Federal Reserve ID: 856449
Date Established: Febuary 14, 1952
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Interstate: No)
OTS Docket #: 10732
FDIC's unique #: 11135
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 14, 1952
Last Structure Change Effective Date: August 12, 1996
Last Structure Change Process Date: September 16, 1996
Last Data Update: September 16, 1996
Data Source Date: April 05, 2012 - Location
- Address: 114 North Washington Street, Hale, MI 48739
County: Iosco
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 - Financial Summary
- Total assets: $156.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1995)
- Dollar figures in thousands
- 0Total employees (full-time equivalent)
- $112Total assets
- $152,773Cash and due from depository institutions
- $5,461Interest-bearing balances
- $20Securities
- $48,806Federal funds sold & reverse repurchase agreements
- $200Net loans & leases
- $90,174Loan loss allowance
- $988Trading account assets
- $0Bank premises and fixed assets
- $5,656Other real estate owned
- $162Goodwill and other intangibles
- $1,866Life insurance assets
- $448All other assets
- $0Total liabilities and capital
- $152,773Total liabilities
- $142,228Total deposits
- $132,014Interest-bearing deposits
- $113,954Deposits held in domestic offices
- 132014.00%% insured (estimated)
- $96Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $0Other borrowed funds
- $9,000Subordinated debt
- $0All other liabilities
- $1,214Total equity capital
- $1,214Total bank equity capital
- $10,545Perpetual preferred stock
- $0Common stock
- $1,224Surplus
- $5,757Undivided profits
- Memoranda
- $3,564Noncurrent loans and leases
- $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $772Income earned, not collected on loans
- $613Earning assets
- $139,200Long-term assets (5+ years)
- $50,918Average Assets, year-to-date
- $156,217Average Assets, quarterly
- $152,476Volatile liabilities
- $3,757Insider loans
- $224FHLB advances
- $0Loans and leases held for sale
- $2,186Unused loan commitments
- $7,493Tier 1 (core) risk-based capital
- $0Tier 2 risk-based capital
- $10,134Total risk weighted assets
- $91,420Total unused commitments
- $0Restructured Loans and leases
- $0Derivatives
Income and Expense (December 31, 1995)
- Dollar figures in thousands
- $0Total interest income
- $11,233Total interest expense
- $5,384Net interest income
- $5,849Provision for loan and lease losses
- $307Total noninterest income
- $1,647Fiduciary activities
- $0Service charges on deposit accounts
- $404Trading account gains & fees
- $0Additional noninterest income
- $1,243Total noninterest expense
- $6,871Salaries and employee benefits
- $3,512Premises and equipment expense
- $1,205Additional noninterest expense
- $2,154Pre-tax net operating income
- $318Securities gains (losses)
- -$111Applicable income taxes
- -$114Income before extraordinary items
- $321Extraordinary gains - net
- $0Net income attributable to bank
- $321Net charge-offs
- $268Cash dividends
- $294Sale, conversion, retirement of capital stock, net
- $0Net operating income
Performance and Condition Ratios (December 31, 1995)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 0.00%Yield on earning assets
- 8.04%Cost of funding earning assets
- 3.85%Net interest margin
- 4.19%Noninterest income to earning assets
- 1.18%Noninterest expense to earning assets
- 4.92%Net operating income to assets
- 0.28%Return on assets (ROA)
- 0.21%Pretax return on assets
- 0.13%Return on equity (ROE)
- 3.22%Retained earnings to average equity (YTD only)
- 0.27%Net charge-offs to loans
- 0.31%Credit loss provision to net charge-offs
- 114.55%Efficiency ratio
- 91,289Assets per employee
- 1.36%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 91.59%Loss allowance to loans
- 1.08%Loss allowance to noncurrent loans
- 127.98%Noncurrent assets plus other real estate owned to assets
- 0.61%Noncurrent loans to loans
- 0.85%Net loans and leases to deposits
- 68.31%Net loans and leases to core deposits
- 70.31%Equity capital to assets
- 6.90%Core capital (leverage) ratio
- 6.57%Tier 1 risk-based capital ratio
- 11.09%Total risk-based capital ratio
- Memoranda
- $12Average assets
- $156,217Average earning assets
- $9,980Average equity
- $139,699Average loans
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- Banks in Michigan (MI)
- North Bank
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