Old Kent Bank of Cadillac in Cadillac, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 1995

Old Kent Bank of Cadillac in Cadillac, Michigan (MI)
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Old Kent Bank of Cadillac - Overview

General
FDIC Certificate #: 18667
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fifth Third Bank (#993)
Federal Reserve ID: 612243
Date Established: December 22, 1962
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 193 (Interstate: No)
FDIC's unique #: 12545
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: December 22, 1962
Last Structure Change Effective Date: January 01, 1995
Last Structure Change Process Date: Febuary 06, 1995
Last Data Update: Febuary 06, 1995
Data Source Date: April 05, 2012
Location
Address: 123 South Mitchell Street, Cadillac, MI 49601
County: Wexford
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): Cadillac, MI (#15620)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $118.8 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$46Total assets
$118,836Cash and due from depository institutions
$3,273Interest-bearing balances
$500Securities
$22,147Federal funds sold & reverse repurchase agreements
$3,000Net loans & leases
$87,984Loan loss allowance
$2,046Trading account assets
$0Bank premises and fixed assets
$577Other real estate owned
$0Goodwill and other intangibles
$1,855Life insurance assets
$0All other assets
$0Total liabilities and capital
$118,836Total liabilities
$110,954Total deposits
$109,971Interest-bearing deposits
$97,430Deposits held in domestic offices
109971.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$270Trading liabilities
$0Other borrowed funds
$2Subordinated debt
$0All other liabilities
$711Total equity capital
$711Total bank equity capital
$7,882Perpetual preferred stock
$0Common stock
$451Surplus
$4,549Undivided profits
Memoranda
$2,882Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,451Income earned, not collected on loans
$441Earning assets
$113,631Long-term assets (5+ years)
$18,201Average Assets, year-to-date
$115,520Average Assets, quarterly
$117,581Volatile liabilities
$10,532Insider loans
$570FHLB advances
$0Loans and leases held for sale
$36Unused loan commitments
$10,740Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$7,989Total risk weighted assets
$86,019Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$9,021Total interest expense
$3,408Net interest income
$5,613Provision for loan and lease losses
$0Total noninterest income
$838Fiduciary activities
$0Service charges on deposit accounts
$356Trading account gains & fees
$0Additional noninterest income
$482Total noninterest expense
$3,334Salaries and employee benefits
$1,268Premises and equipment expense
$226Additional noninterest expense
$1,840Pre-tax net operating income
$3,117Securities gains (losses)
-$1Applicable income taxes
$1,046Income before extraordinary items
$2,070Extraordinary gains - net
$0Net income attributable to bank
$2,070Net charge-offs
$160Cash dividends
$1,400Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.12%Cost of funding earning assets
3.07%Net interest margin
5.05%Noninterest income to earning assets
0.75%Noninterest expense to earning assets
3.00%Net operating income to assets
1.79%Return on assets (ROA)
1.79%Pretax return on assets
2.70%Return on equity (ROE)
27.51%Retained earnings to average equity (YTD only)
8.90%Net charge-offs to loans
0.20%Credit loss provision to net charge-offs
0.00%Efficiency ratio
51,682Assets per employee
2.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
67.63%Loss allowance to loans
2.27%Loss allowance to noncurrent loans
141.01%Noncurrent assets plus other real estate owned to assets
1.22%Noncurrent loans to loans
1.61%Net loans and leases to deposits
80.01%Net loans and leases to core deposits
88.24%Equity capital to assets
6.63%Core capital (leverage) ratio
6.77%Tier 1 risk-based capital ratio
9.29%Total risk-based capital ratio
Memoranda
$11Average assets
$115,520Average earning assets
$7,525Average equity
$111,145Average loans

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