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

This bank is inactive as of January 01, 1995

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

  • General
  • FDIC Certificate #: 10943
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fifth Third Bank (#993)
    Federal Reserve ID: 537140
    Date Established: January 01, 1901
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 7006
    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: 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: 124 South James Street, Ludington, MI 49431
    County: Mason
    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
  • Financial Summary
  • Total assets: $78.0 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)
  • $38Total assets
  • $77,987Cash and due from depository institutions
  • $1,798Interest-bearing balances
  • $750Securities
  • $27,531Federal funds sold & reverse repurchase agreements
  • $2,750Net loans & leases
  • $44,061Loan loss allowance
  • $642Trading account assets
  • $0Bank premises and fixed assets
  • $796Other real estate owned
  • $0Goodwill and other intangibles
  • $1,051Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $77,987Total liabilities
  • $72,614Total deposits
  • $66,111Interest-bearing deposits
  • $59,699Deposits held in domestic offices
  • 66111.00%% insured (estimated)
  • $95Federal funds purchased & repurchase agreements
  • $6,283Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $220Total equity capital
  • $220Total bank equity capital
  • $5,373Perpetual preferred stock
  • $0Common stock
  • $547Surplus
  • $2,954Undivided profits
  • Memoranda
  • $1,872Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $143Income earned, not collected on loans
  • $263Earning assets
  • $75,092Long-term assets (5+ years)
  • $16,902Average Assets, year-to-date
  • $79,740Average Assets, quarterly
  • $79,169Volatile liabilities
  • $10,066Insider loans
  • $462FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $4,691Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $5,373Total risk weighted assets
  • $46,993Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,813Total interest expense
  • $2,173Net interest income
  • $3,640Provision for loan and lease losses
  • $165Total noninterest income
  • $535Fiduciary activities
  • $0Service charges on deposit accounts
  • $315Trading account gains & fees
  • $0Additional noninterest income
  • $220Total noninterest expense
  • $2,216Salaries and employee benefits
  • $877Premises and equipment expense
  • $138Additional noninterest expense
  • $1,201Pre-tax net operating income
  • $1,794Securities gains (losses)
  • $0Applicable income taxes
  • $364Income before extraordinary items
  • $1,430Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,430Net charge-offs
  • $64Cash dividends
  • $1,300Sale, 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
  • 7.56%Cost of funding earning assets
  • 2.83%Net interest margin
  • 4.74%Noninterest income to earning assets
  • 0.70%Noninterest expense to earning assets
  • 2.88%Net operating income to assets
  • 1.79%Return on assets (ROA)
  • 1.79%Pretax return on assets
  • 2.25%Return on equity (ROE)
  • 27.04%Retained earnings to average equity (YTD only)
  • 2.46%Net charge-offs to loans
  • 0.15%Credit loss provision to net charge-offs
  • 257.81%Efficiency ratio
  • 53,078Assets per employee
  • 2.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 90.91%Loss allowance to loans
  • 1.44%Loss allowance to noncurrent loans
  • 448.95%Noncurrent assets plus other real estate owned to assets
  • 0.18%Noncurrent loans to loans
  • 0.32%Net loans and leases to deposits
  • 66.65%Net loans and leases to core deposits
  • 70.69%Equity capital to assets
  • 6.89%Core capital (leverage) ratio
  • 6.85%Tier 1 risk-based capital ratio
  • 11.43%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $79,740Average earning assets
  • $5,288Average equity
  • $76,874Average loans

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