Northwestern Bank in Traverse City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Northwestern Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 393Total employees (full-time equivalent)
  • $867,714Total assets
  • $127,917Cash and due from depository institutions
  • $109,777Interest-bearing balances
  • $19,425Securities
  • $262Federal funds sold & reverse repurchase agreements
  • $650,438Net loans & leases
  • $14,252Loan loss allowance
  • $0Trading account assets
  • $33,876Bank premises and fixed assets
  • $13,415Other real estate owned
  • $10,421Goodwill and other intangibles
  • $867,714Life insurance assets
  • $11,960All other assets
  • $787,460Total liabilities and capital
  • $784,005Total liabilities
  • $727,739Total deposits
  • $784,005Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,455Subordinated debt
  • $80,254All other liabilities
  • $80,254Total equity capital
  • $80,254Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $32,841Surplus
  • $47,213Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $16,041Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $50,837Income earned, not collected on loans
  • $385Earning assets
  • $2,308Long-term assets (5+ years)
  • $779,902Average Assets, year-to-date
  • $58,253Average Assets, quarterly
  • $888,598Volatile liabilities
  • $879,112Insider loans
  • $690,626FHLB advances
  • $871,101Loans and leases held for sale
  • $452Unused loan commitments
  • $452Tier 1 (core) risk-based capital
  • $78,079Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $168,477Restructured Loans and leases
  • $7,034Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $37,511Total interest income
  • $4,464Total interest expense
  • $33,047Net interest income
  • $10,300Provision for loan and lease losses
  • $19,719Total noninterest income
  • $4,375Fiduciary activities
  • $3,970Service charges on deposit accounts
  • $0Trading account gains & fees
  • $11,374Additional noninterest income
  • $40,036Total noninterest expense
  • $21,164Salaries and employee benefits
  • $5,297Premises and equipment expense
  • $13,575Additional noninterest expense
  • $2,430Pre-tax net operating income
  • $138Securities gains (losses)
  • $873Applicable income taxes
  • $1,695Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,695Net income attributable to bank
  • $0Net charge-offs
  • $1,695Cash dividends
  • $7,787Sale, conversion, retirement of capital stock, net
  • $463Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.70%Yield on earning assets
  • 0.56%Cost of funding earning assets
  • 4.14%Net interest margin
  • 2.47%Noninterest income to earning assets
  • 5.02%Noninterest expense to earning assets
  • 0.18%Net operating income to assets
  • 0.19%Return on assets (ROA)
  • 0.29%Pretax return on assets
  • 2.13%Return on equity (ROE)
  • 1.55%Retained earnings to average equity (YTD only)
  • 1.12%Net charge-offs to loans
  • 132.27%Credit loss provision to net charge-offs
  • 1.63%Efficiency ratio
  • 75,405Assets per employee
  • 2.21%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 27.32%Loss allowance to loans
  • 2.14%Loss allowance to noncurrent loans
  • 28.03%Noncurrent assets plus other real estate owned to assets
  • 7.40%Noncurrent loans to loans
  • 7.65%Net loans and leases to deposits
  • 82.96%Net loans and leases to core deposits
  • 85.10%Equity capital to assets
  • 9.25%Core capital (leverage) ratio
  • 8.96%Tier 1 risk-based capital ratio
  • 11.31%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $888,598Average earning assets
  • $79,527Average equity
  • $798,223Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $695,149Managed Assets
  • 1Number of Accounts
  • $459,774Personal trust and agency accounts
  • $99,872Employee benefit-defined contribution accounts
  • $11,613Employee benefit-defined benefit accounts
  • $191Other retirement accounts
  • $81,956Corporate trust and agency accounts
  • $17,312Investment management agency accounts
  • $221,658Other fiduciary accounts
  • $27,172Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1161Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $235,375Other retirement accounts
  • $1,193Corporate trust and agency accounts
  • $223,119Other fiduciary accounts
  • $3,643Fiduciary accounts held in foreign offices

List of branches

  • 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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