Old Mission Bank in Sault Sainte Marie, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Old Mission Bank - Overview

  • General
  • FDIC Certificate #: 35303
    Status: Active
    Federal Reserve ID: 2839053
    Bank Holding Company (Regulatory Top Holder): Old Mission Bancorp, Inc. (RSSDID: 2839044, Location: Sault Sainte Marie, MI)
    Date Established: Febuary 07, 2000
    WWW: http://www.oldmissionbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 77693
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 07, 2000
    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: 2701 1-75 Business Spur, Sault Sainte Marie, MI 49783
    County: Chippewa
    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): Sault Ste. Marie, MI (#42300)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $104.0 mil
    Equity capital: $10.7 mil
    Deposits held in domestic offices: $87.1 mil
    Return on assets (ROA): 0.79% ($0.8 mil)
    Quarterly return on assets: 0.99% ($1.0 mil)
    Return on Equity (ROE): 7.84% ($0.9 mil)
    Quarterly return on equity: 9.79% ($1.1 mil)
    Net income: $0.8 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.99% ($1,030.1 mil)
    Quarterly Pretax return on assets: 1.28% ($1,331.8 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
  • 33Total employees (full-time equivalent)
  • $104,048Total assets
  • $3,802Cash and due from depository institutions
  • $33Interest-bearing balances
  • $40,646Securities
  • $1,611Federal funds sold & reverse repurchase agreements
  • $53,627Net loans & leases
  • $1,026Loan loss allowance
  • $0Trading account assets
  • $2,609Bank premises and fixed assets
  • $0Other real estate owned
  • $379Goodwill and other intangibles
  • $104,048Life insurance assets
  • $1,374All other assets
  • $93,302Total liabilities and capital
  • $87,117Total liabilities
  • $71,505Total deposits
  • $87,117Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,940Trading liabilities
  • $0Other borrowed funds
  • $1,245Subordinated debt
  • $10,746All other liabilities
  • $10,746Total equity capital
  • $10,746Total bank equity capital
  • $0Perpetual preferred stock
  • $2,500Common stock
  • $3,500Surplus
  • $4,746Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $141Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,115Income earned, not collected on loans
  • $425Earning assets
  • $591Long-term assets (5+ years)
  • $95,917Average Assets, year-to-date
  • $26,085Average Assets, quarterly
  • $101,109Volatile liabilities
  • $105,200Insider loans
  • $64,088FHLB advances
  • $109,550Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $9,845Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,710Restructured Loans and leases
  • $3,817Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,851Total interest income
  • $1,333Total interest expense
  • $3,518Net interest income
  • $65Provision for loan and lease losses
  • $768Total noninterest income
  • $0Fiduciary activities
  • $170Service charges on deposit accounts
  • $0Trading account gains & fees
  • $598Additional noninterest income
  • $3,340Total noninterest expense
  • $1,830Salaries and employee benefits
  • $408Premises and equipment expense
  • $1,102Additional noninterest expense
  • $881Pre-tax net operating income
  • $119Securities gains (losses)
  • $200Applicable income taxes
  • $800Income before extraordinary items
  • $0Extraordinary gains - net
  • $800Net income attributable to bank
  • $0Net charge-offs
  • $800Cash dividends
  • $45Sale, conversion, retirement of capital stock, net
  • $250Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.15%Yield on earning assets
  • 1.41%Cost of funding earning assets
  • 3.73%Net interest margin
  • 0.81%Noninterest income to earning assets
  • 3.54%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.79%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 7.84%Return on equity (ROE)
  • 5.39%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 144.44%Credit loss provision to net charge-offs
  • 21.02%Efficiency ratio
  • 77,928Assets per employee
  • 3.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.25%Loss allowance to loans
  • 1.88%Loss allowance to noncurrent loans
  • 92.02%Noncurrent assets plus other real estate owned to assets
  • 1.07%Noncurrent loans to loans
  • 2.04%Net loans and leases to deposits
  • 61.56%Net loans and leases to core deposits
  • 64.04%Equity capital to assets
  • 10.33%Core capital (leverage) ratio
  • 8.99%Tier 1 risk-based capital ratio
  • 15.36%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $101,109Average earning assets
  • $10,205Average equity
  • $94,265Average loans

List of branches

  • 2 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    077693Old Mission Bank2701 1-75 Business Spur, Sault Sainte Marie, MI 49783Febuary 07, 2000Full Service Brick and Mortar
    1432257Pickford Branch7196 E. Charles St., Pickford, MI 49774July 14, 2003Full Service Brick and Mortar

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