Northern Michigan Bank & Trust in Escanaba, Michigan (MI)

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Northern Michigan Bank & Trust
GeneralFDIC Certificate #: 32436
Status: Active
Federal Reserve ID: 533759
Bank Holding Company (Regulatory Top Holder): Northern Michigan Corporation (RSSDID: 1123652, Location: Escanaba, MI)
Date Established: January 08, 1986
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 9 (Domestic: 8, Interstate: No)
OTS Docket #: 8261
FDIC's unique #: 45270
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 08, 1986
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 723 Ludington Street, Escanaba, MI 49829
County: Delta
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): Escanaba, MI (#21540)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $224.5 mil
Equity capital: $18.5 mil
Deposits held in domestic offices: $203.7 mil
Return on assets (ROA): 0.94% ($2.1 mil)
Quarterly return on assets: 0.14% ($0.3 mil)
Return on Equity (ROE): 10.80% ($1.9 mil)
Quarterly return on equity: 1.69% ($0.3 mil)
Net income: $2.1 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.94% ($2,110.5 mil)
Quarterly Pretax return on assets: 0.14% ($314.3 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)83
Total assets$224,526
Cash and due from depository institutions$15,413
Interest-bearing balances$2,547
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$150,486
Loan loss allowance $2,628
Trading account assets$0
Bank premises and fixed assets$3,881
Other real estate owned$2,002
Goodwill and other intangibles$1,059
All other assets$7,501
Life insurance assets$224,526
Total liabilities and capital$206,067
Total liabilities$203,679
Total deposits$180,295
Interest-bearing deposits$203,679
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$731
Other borrowed funds $0
Subordinated debt $1,657
All other liabilities $18,459
Total equity capital$18,459
Total bank equity capital$18,459
Perpetual preferred stock$0
Common stock$1,350
Undivided profits $8,459
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,802
Earning assets $0
Long-term assets (5+ years) $792
Average Assets, year-to-date $197,217
Average Assets, quarterly $34,785
Volatile liabilities $219,695
Insider loans $224,261
FHLB advances $175,831
Loans and leases held for sale $222,363
Unused loan commitments $4,676
Tier 1 (core) risk-based capital $4,343
Tier 2 risk-based capital $16,630
Total risk weighted assets $0
Total unused commitments $333
Restructured Loans and leases $42,679
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,269
Total interest expense $2,208
Net interest income $8,061
Provision for loan and lease losses $600
Total noninterest income $2,559
Fiduciary activities $1,160
Service charges on deposit accounts $244
Trading account gains & fees $0
Additional noninterest income $1,155
Total noninterest expense $7,965
Salaries and employee benefits $4,887
Premises and equipment expense $861
Additional noninterest expense $2,217
Pre-tax net operating income $2,055
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $2,055
Extraordinary gains - net $0
Net income attributable to bank $2,055
Net charge-offs $0
Cash dividends $2,055
Sale, conversion, retirement of capital stock, net $346
Net operating income $3,921
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.24%
Cost of funding earning assets 1.13%
Net interest margin 4.11%
Noninterest income to earning assets 1.30%
Noninterest expense to earning assets 4.06%
Net operating income to assets 0.94%
Return on assets (ROA) 0.94%
Pretax return on assets 0.94%
Return on equity (ROE) 10.80%
Retained earnings to average equity (YTD only) -9.80%
Net charge-offs to loans 0.23%
Credit loss provision to net charge-offs 173.41%
Efficiency ratio7.67%
Assets per employee$75,000
Cash dividends to net income (YTD only)2.71%
Condition Ratios (%)
Loss allowance to loans 190.80%
Loss allowance to noncurrent loans 1.72%
Noncurrent assets plus other real estate owned to assets 145.84%
Noncurrent loans to loans 1.69%
Net loans and leases to deposits1.18%
Net loans and leases to core deposits 73.88%
Equity capital to assets 85.60%
Core capital (leverage) ratio 8.22%
Tier 1 risk-based capital ratio 7.48%
Total risk-based capital ratio 9.46%
Average assets$11
Average earning assets$219,695
Average equity $19,033
Average loans $196,135
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$176,456
Number of Accounts1
Personal trust and agency accounts$115,442
Employee benefit-defined contribution accounts$35,616
Employee benefit-defined benefit accounts$4,021
Other retirement accounts$0
Corporate trust and agency accounts$15,602
Investment management agency accounts$0
Other fiduciary accounts$46,762
Fiduciary accounts held in foreign offices$13,441
Non-managed Assets$0
Number of Accounts291
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$15,602
Employee benefit-defined benefit accounts$0
Other retirement accounts$61,014
Corporate trust and agency accounts$15,255
Other fiduciary accounts$1,962
Fiduciary accounts held in foreign offices$6,987
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9 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
045270Northern Michigan Bank & Trust723 Ludington Street, Escanaba, MI 49829January 08, 1986Full Service Brick and Mortar
102207036Bark River Branch1269 Us 2 And 41, Bark River, MI 49807Febuary 14, 1967Full Service Brick and Mortar
104149081502 W Washington Branch1502 W Washington, Marquette, MI 49855May 01, 1974Full Service Brick and Mortar
10515586600 S Carpenter Branch600 S Carpenter, Kingsford, MI 49801December 15, 1976Full Service Brick and Mortar
106287984Chocolay Branch1001 M 28 East, Suite 10, Marquette, MI 49855July 31, 1995Full Service Brick and Mortar
108357400North Brnch1921 3rd Avenue North, Escanaba, MI 49829July 17, 2000Full Service Brick and Mortar
110433611Gladstone Branch4 Tipperary Road, Gladstone, MI 49837December 23, 2004Full Service Brick and Mortar
111433612Iron Mountain Branch500 South Stephenson Avenue, Iron Mountain, MI 49801December 23, 2004Full Service Brick and Mortar
112528020Palms Avenue Branch743 Palms Avenue, Ishpeming, MI 49849January 24, 2012Full Service Brick and Mortar
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