North Country Bank in South Range, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 07, 1998

  • North Country Bank in South Range, Michigan (MI)
  • Show street view No street view available for this location

North Country Bank - Overview

  • General
  • FDIC Certificate #: 10556
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: mBank (#14816)
    Federal Reserve ID: 139759
    Date Established: January 01, 1903
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Interstate: No)
    OTS Docket #: 13693
    FDIC's unique #: 6759
    Numeric code: 21
    Regulator: FDIC
    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 01, 1934
    Last Structure Change Effective Date: March 07, 1998
    Last Structure Change Process Date: March 18, 1998
    Last Data Update: March 21, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: Trimountain Avenue, South Range, MI 49963
    County: Houghton
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Appleton
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Core Based Statistical Area (CBSA): Houghton, MI (#26340)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $79.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 33Total employees (full-time equivalent)
  • $79,267Total assets
  • $3,231Cash and due from depository institutions
  • $0Interest-bearing balances
  • $1,851Securities
  • $1,805Federal funds sold & reverse repurchase agreements
  • $65,375Net loans & leases
  • $830Loan loss allowance
  • $0Trading account assets
  • $2,834Bank premises and fixed assets
  • $38Other real estate owned
  • $3,325Goodwill and other intangibles
  • $0Life insurance assets
  • $808All other assets
  • $79,267Total liabilities and capital
  • $70,510Total liabilities
  • $69,426Total deposits
  • $62,243Interest-bearing deposits
  • $69,426Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $1,084All other liabilities
  • $8,757Total equity capital
  • $8,757Total bank equity capital
  • $8,757Perpetual preferred stock
  • $0Common stock
  • $390Surplus
  • $7,610Undivided profits
  • Memoranda
  • $757Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,251Earning assets
  • $0Long-term assets (5+ years)
  • $439Average Assets, year-to-date
  • $69,031Average Assets, quarterly
  • $7,318Volatile liabilities
  • $72,977Insider loans
  • $79,819FHLB advances
  • $4,053Loans and leases held for sale
  • $1,052Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,270Total unused commitments
  • $0Restructured Loans and leases
  • $58,975Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $6,484Total interest income
  • $2,674Total interest expense
  • $3,810Net interest income
  • $400Provision for loan and lease losses
  • $437Total noninterest income
  • $0Fiduciary activities
  • $342Service charges on deposit accounts
  • $0Trading account gains & fees
  • $95Additional noninterest income
  • $3,015Total noninterest expense
  • $1,164Salaries and employee benefits
  • $373Premises and equipment expense
  • $1,478Additional noninterest expense
  • $832Pre-tax net operating income
  • $0Securities gains (losses)
  • $298Applicable income taxes
  • $534Income before extraordinary items
  • $0Extraordinary gains - net
  • $534Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $298Sale, conversion, retirement of capital stock, net
  • $1,158Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 10.22%Yield on earning assets
  • 4.22%Cost of funding earning assets
  • 6.01%Net interest margin
  • 0.69%Noninterest income to earning assets
  • 4.75%Noninterest expense to earning assets
  • 0.73%Net operating income to assets
  • 0.73%Return on assets (ROA)
  • 1.14%Pretax return on assets
  • 6.65%Return on equity (ROE)
  • -7.77%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 134.23%Credit loss provision to net charge-offs
  • 4.13%Efficiency ratio
  • 65,175Assets per employee
  • 2.40%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 216.85%Loss allowance to loans
  • 1.25%Loss allowance to noncurrent loans
  • 66.35%Noncurrent assets plus other real estate owned to assets
  • 1.63%Noncurrent loans to loans
  • 1.89%Net loans and leases to deposits
  • 94.17%Net loans and leases to core deposits
  • 100.00%Equity capital to assets
  • 11.05%Core capital (leverage) ratio
  • 7.08%Tier 1 risk-based capital ratio
  • 9.23%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $72,977Average earning assets
  • $8,027Average equity
  • $63,416Average 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 North Country Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents