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- Banks in Michigan (MI)
- Paragon Bank & Trust
Paragon Bank & Trust in Holland, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of March 31, 2010
- Paragon Bank & Trust in Holland, Michigan (MI)
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Paragon Bank & Trust - Overview
- General
- FDIC Certificate #: 33126
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Michigan Commerce Bank (#33134)
Federal Reserve ID: 1473496
Date Established: September 24, 1990
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 46361
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: September 24, 1990
Last Structure Change Effective Date: March 31, 2010
Last Structure Change Process Date: April 14, 2010
Last Data Update: April 14, 2010
Data Source Date: April 05, 2012 - Location
- Address: 240 East 8th Street, Holland, MI 49423
County: Ottawa
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
Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000)
Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
Core Based Statistical Area (CBSA): Holland-Grand Haven, MI (#26100)
CBSA Metro Statistical Area: Holland-Grand Haven, MI (#26100) - Financial Summary
- Total assets: $106.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
- Dollar figures in thousands
- 16Total employees (full-time equivalent)
- $106,751Total assets
- $28,604Cash and due from depository institutions
- $27,765Interest-bearing balances
- $390Securities
- $0Federal funds sold & reverse repurchase agreements
- $63,402Net loans & leases
- $3,589Loan loss allowance
- $0Trading account assets
- $2,681Bank premises and fixed assets
- $3,357Other real estate owned
- $1,613Goodwill and other intangibles
- $619Life insurance assets
- $6,704All other assets
- $106,751Total liabilities and capital
- $99,914Total liabilities
- $95,369Total deposits
- $90,944Interest-bearing deposits
- $95,369Deposits held in domestic offices
- 91.69%% insured (estimated)
- $0Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $3,574Other borrowed funds
- $0Subordinated debt
- $971All other liabilities
- $6,837Total equity capital
- $6,837Total bank equity capital
- $6,837Perpetual preferred stock
- $0Common stock
- $2,425Surplus
- $12,266Undivided profits
- Memoranda
- $-7,854Noncurrent loans and leases
- $4,870Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $5,336Earning assets
- $0Long-term assets (5+ years)
- $249Average Assets, year-to-date
- $91,557Average Assets, quarterly
- $3,635Volatile liabilities
- $110,665Insider loans
- $104,725FHLB advances
- $18,133Loans and leases held for sale
- $3,067Unused loan commitments
- $3,500Tier 1 (core) risk-based capital
- $3,316Tier 2 risk-based capital
- $2,124Total risk weighted assets
- $4,870Total unused commitments
- $506Restructured Loans and leases
- $940Derivatives
Income and Expense (December 31, 2009)
- Dollar figures in thousands
- $4,327Total interest income
- $2,308Total interest expense
- $2,019Net interest income
- $4,525Provision for loan and lease losses
- $1,253Total noninterest income
- $1,259Fiduciary activities
- $55Service charges on deposit accounts
- $0Trading account gains & fees
- -$61Additional noninterest income
- $5,485Total noninterest expense
- $1,433Salaries and employee benefits
- $362Premises and equipment expense
- $3,690Additional noninterest expense
- -$6,738Pre-tax net operating income
- $0Securities gains (losses)
- $558Applicable income taxes
- -$7,296Income before extraordinary items
- $0Extraordinary gains - net
- -$7,296Net income attributable to bank
- $0Net charge-offs
- -$7,296Cash dividends
- $4,426Sale, conversion, retirement of capital stock, net
- $0Net operating income
Performance and Condition Ratios (December 31, 2009)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 4.48%Yield on earning assets
- 2.39%Cost of funding earning assets
- 2.09%Net interest margin
- 1.30%Noninterest income to earning assets
- 5.68%Noninterest expense to earning assets
- -6.59%Net operating income to assets
- -6.59%Return on assets (ROA)
- -6.09%Pretax return on assets
- -84.84%Return on equity (ROE)
- -84.84%Retained earnings to average equity (YTD only)
- 5.75%Net charge-offs to loans
- 102.24%Credit loss provision to net charge-offs
- -0.50%Efficiency ratio
- 162,531Assets per employee
- 6.67%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 0.00%Loss allowance to loans
- 5.36%Loss allowance to noncurrent loans
- 67.26%Noncurrent assets plus other real estate owned to assets
- 8.14%Noncurrent loans to loans
- 7.97%Net loans and leases to deposits
- 66.48%Net loans and leases to core deposits
- 78.53%Equity capital to assets
- 6.40%Core capital (leverage) ratio
- 4.86%Tier 1 risk-based capital ratio
- 7.01%Total risk-based capital ratio
- Memoranda
- $8Average assets
- $110,665Average earning assets
- $8,600Average equity
- $96,497Average loans
Total Fiduciary and Related Assets (December 31, 2009)
- Dollar figures in thousands
- $1Total fiduciary and related assets
- 1Number of Fiduciary Accounts and Related Asset Accounts
- YesFiduciary powers granted
- YesFiduciary or related activity
- $164,097Managed Assets
- 1Number of Accounts
- $16,342Personal trust and agency accounts
- $9,846Employee benefit-defined contribution accounts
- $3,688Employee benefit-defined benefit accounts
- $353Other retirement accounts
- $698Corporate trust and agency accounts
- $0Investment management agency accounts
- $1,757Other fiduciary accounts
- $0Fiduciary accounts held in foreign offices
- $0Non-managed Assets
- 1630Number of Accounts
- $0Personal trust and agency accounts
- $698Employee benefit-defined contribution accounts
- $0Employee benefit-defined benefit accounts
- $147,755Other retirement accounts
- $30,543Corporate trust and agency accounts
- $3,777Other fiduciary accounts
- $106,785Fiduciary accounts held in foreign offices
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- Banks in Michigan (MI)
- Paragon Bank & Trust
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