Northwestern Bank in Traverse City, Michigan (MI)

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Northwestern Bank
GeneralFDIC Certificate #: 30792
Status: Active
Federal Reserve ID: 621375
Date Established: November 25, 1955
Trust Powers Granted: Yes
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 27 (Domestic: 27, Interstate: No)
OTS Docket #: 5926
FDIC's unique #: 43626
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: November 25, 1955
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: 625 South Garfield Avenue, Traverse City, MI 49685
County: Grand Traverse
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Grand Rapids
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Traverse City, MI (#45900)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $867.7 mil
Equity capital: $80.3 mil
Deposits held in domestic offices: $784.0 mil
Return on assets (ROA): 0.19% ($1.6 mil)
Quarterly return on assets: 0.40% ($3.5 mil)
Return on Equity (ROE): 2.13% ($1.7 mil)
Quarterly return on equity: 4.35% ($3.5 mil)
Net income: $1.7 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 0.29% ($2,516.4 mil)
Quarterly Pretax return on assets: 0.60% ($5,206.3 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)393
Total assets$867,714
Cash and due from depository institutions$127,917
Interest-bearing balances$109,777
Federal funds sold & reverse repurchase agreements$262
Net loans & leases$650,438
Loan loss allowance $14,252
Trading account assets$0
Bank premises and fixed assets$33,876
Other real estate owned$13,415
Goodwill and other intangibles$10,421
All other assets$11,960
Life insurance assets$867,714
Total liabilities and capital$787,460
Total liabilities$784,005
Total deposits$727,739
Interest-bearing deposits$784,005
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $3,455
All other liabilities $80,254
Total equity capital$80,254
Total bank equity capital$80,254
Perpetual preferred stock$0
Common stock$200
Undivided profits $47,213
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $16,041
Income earned, not collected on loans $50,837
Earning assets $385
Long-term assets (5+ years) $2,308
Average Assets, year-to-date $779,902
Average Assets, quarterly $58,253
Volatile liabilities $888,598
Insider loans $879,112
FHLB advances $690,626
Loans and leases held for sale $871,101
Unused loan commitments $452
Tier 1 (core) risk-based capital $452
Tier 2 risk-based capital $78,079
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $168,477
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $37,511
Total interest expense $4,464
Net interest income $33,047
Provision for loan and lease losses $10,300
Total noninterest income $19,719
Fiduciary activities $4,375
Service charges on deposit accounts $3,970
Trading account gains & fees $0
Additional noninterest income $11,374
Total noninterest expense $40,036
Salaries and employee benefits $21,164
Premises and equipment expense $5,297
Additional noninterest expense $13,575
Pre-tax net operating income $2,430
Securities gains (losses) $138
Applicable income taxes $873
Income before extraordinary items $1,695
Extraordinary gains - net $0
Net income attributable to bank $1,695
Net charge-offs $0
Cash dividends $1,695
Sale, conversion, retirement of capital stock, net $7,787
Net operating income $463
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.70%
Cost of funding earning assets 0.56%
Net interest margin 4.14%
Noninterest income to earning assets 2.47%
Noninterest expense to earning assets 5.02%
Net operating income to assets 0.18%
Return on assets (ROA) 0.19%
Pretax return on assets 0.29%
Return on equity (ROE) 2.13%
Retained earnings to average equity (YTD only) 1.55%
Net charge-offs to loans 1.12%
Credit loss provision to net charge-offs 132.27%
Efficiency ratio1.63%
Assets per employee$75,405
Cash dividends to net income (YTD only)2.21%
Condition Ratios (%)
Loss allowance to loans 27.32%
Loss allowance to noncurrent loans 2.14%
Noncurrent assets plus other real estate owned to assets 28.03%
Noncurrent loans to loans 7.40%
Net loans and leases to deposits7.65%
Net loans and leases to core deposits 82.96%
Equity capital to assets 85.10%
Core capital (leverage) ratio 9.25%
Tier 1 risk-based capital ratio 8.96%
Total risk-based capital ratio 11.31%
Average assets$13
Average earning assets$888,598
Average equity $79,527
Average loans $798,223
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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$695,149
Number of Accounts1
Personal trust and agency accounts$459,774
Employee benefit-defined contribution accounts$99,872
Employee benefit-defined benefit accounts$11,613
Other retirement accounts$191
Corporate trust and agency accounts$81,956
Investment management agency accounts$17,312
Other fiduciary accounts$221,658
Fiduciary accounts held in foreign offices$27,172
Non-managed Assets$0
Number of Accounts1161
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$235,375
Corporate trust and agency accounts$1,193
Other fiduciary accounts$223,119
Fiduciary accounts held in foreign offices$3,643
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27 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
043626Northwestern Bank625 South Garfield Avenue, Traverse City, MI 49685November 25, 1955Full Service Brick and Mortar
1282080300 Howard St Branch300 Howard Street, Petoskey, MI 49770November 25, 1955Full Service Brick and Mortar
2282081325 1st St Branch325 1st Street, Manistee, MI 49660November 25, 1955Full Service Brick and Mortar
3282082150 Granite St Branch150 Granite Street, Cadillac, MI 49601November 25, 1955Full Service Brick and Mortar
4282083112 S Cedar Branch112 South Cedar, Kalkaska, MI 49646November 25, 1955Full Service Brick and Mortar
100282084Downtown Branch203 S. Union Street, Suite A, Traverse City, MI 49684November 25, 1955Full Service Brick and Mortar
1012820855300 Us 31 North Branch5300 U.S. 31 North, Acme, MI 49610June 30, 1988Full Service Brick and Mortar
10247052Ludington Federal Branch101 East Court Street, Ludington, MI 49431May 17, 1991Full Service Brick and Mortar
104254107Elk Rapids Branch97 River Street, Elk Rapids, MI 49629October 20, 1978Full Service Brick and Mortar
106282088Gaylord Branch711 West Main Street, Gaylord, MI 49735March 02, 1998Full Service Brick and Mortar
107282089Bay Harbor Branch4000 Main Street, Bay Harbor, MI 49770August 01, 1999Full Service Brick and Mortar
108187479Kingsley Branch111 North Brownson Avenue, Kingsley, MI 49649November 21, 1960Full Service Brick and Mortar
109187486Interlochen Branch2112 M-137, Interlochen, MI 49643June 12, 1972Full Service Brick and Mortar
110361793Suttons Bay Branch212 Saint Joseph Avenue, Suttons Bay, MI 49682July 25, 2001Full Service Brick and Mortar
111361794Cadillac North Branch1573 North Mitchell, Cadillac, MI 49601August 08, 2001Full Service Brick and Mortar
112254760Traverse City 14 St613 W. 14th Street, Traverse City, MI 49684Febuary 21, 2000Full Service Brick and Mortar
116262585919 Spring Street Branch919 Spring Street, Petoskey, MI 49770January 01, 1888Full Service Brick and Mortar
1172625875213 West Houghton Lake Branch5213 West Houghton Lake Drive, Houghton Lake, MI 48629January 01, 1888Full Service Brick and Mortar
1184196802091 South Otsego Ave. Branch2091 South Otsego Ave., Gaylord, MI 49735Febuary 10, 2003Full Service Brick and Mortar
119442387Ludington East Branch3965 West Us 10, Ludington, MI 49431October 11, 2004Full Service Brick and Mortar
120452051Chum's Corners4205 Us 31 South, Traverse City, MI 49684June 17, 2006Full Service Brick and Mortar
121463060Front Street Branch107 East Front Street, Traverse City, MI 49684April 02, 2007Full Service Brick and Mortar
122464177Bay Shore Drive Branch13936 South West Bay Shore Drive, Traverse City, MI 49684May 21, 2007Full Service Brick and Mortar
123465747Leland Branch115 North Main Street, Leland, MI 49654June 20, 2007Full Service Brick and Mortar
124469356Charlevoix Branch1425 Bridge Street, Charlevoix, MI 49720November 19, 2007Full Service Brick and Mortar
125483413Suttons Bay South Branch105 West Fourth Street, Suttons Bay, MI 49682December 03, 2008Full Service Brick and Mortar
126493442Harbor Springs Office Branch106 Main Street, Harbor Springs, MI 49740May 20, 2009Full Service Brick and Mortar
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