Paragon Bank & Trust in Holland, Michigan (MI)
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| Paragon Bank & Trust | |
|---|---|
| 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 |
| Assets and Liabilities (December 31, 2009) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $106,751 |
| Cash and due from depository institutions | $28,604 |
| Interest-bearing balances | $27,765 |
| Securities | $390 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $63,402 |
| Loan loss allowance | $3,589 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,681 |
| Other real estate owned | $3,357 |
| Goodwill and other intangibles | $1,613 |
| All other assets | $6,704 |
| Life insurance assets | $619 |
| Total liabilities and capital | $106,751 |
| Total liabilities | $99,914 |
| Total deposits | $95,369 |
| Interest-bearing deposits | $90,944 |
| Deposits held in domestic offices | $95,369 |
| % insured (estimated) | 91.69% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $3,574 |
| Subordinated debt | $0 |
| All other liabilities | $971 |
| Total equity capital | $6,837 |
| Total bank equity capital | $6,837 |
| Perpetual preferred stock | $6,837 |
| Common stock | $0 |
| Surplus | $2,425 |
| Undivided profits | $12,266 |
| Memoranda | |
| Noncurrent loans and leases | $-7,854 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $4,870 |
| Income earned, not collected on loans | $0 |
| Earning assets | $5,336 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $249 |
| Average Assets, quarterly | $91,557 |
| Volatile liabilities | $3,635 |
| Insider loans | $110,665 |
| FHLB advances | $104,725 |
| Loans and leases held for sale | $18,133 |
| Unused loan commitments | $3,067 |
| Tier 1 (core) risk-based capital | $3,500 |
| Tier 2 risk-based capital | $3,316 |
| Total risk weighted assets | $2,124 |
| Total unused commitments | $4,870 |
| Restructured Loans and leases | $506 |
| Derivatives | $940 |
| Income and Expense (December 31, 2009) (Dollar figures in thousands) | |
| Total interest income | $4,327 |
| Total interest expense | $2,308 |
| Net interest income | $2,019 |
| Provision for loan and lease losses | $4,525 |
| Total noninterest income | $1,253 |
| Fiduciary activities | $1,259 |
| Service charges on deposit accounts | $55 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$61 |
| Total noninterest expense | $5,485 |
| Salaries and employee benefits | $1,433 |
| Premises and equipment expense | $362 |
| Additional noninterest expense | $3,690 |
| Pre-tax net operating income | -$6,738 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $558 |
| Income before extraordinary items | -$7,296 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$7,296 |
| Net charge-offs | $0 |
| Cash dividends | -$7,296 |
| Sale, conversion, retirement of capital stock, net | $4,426 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2009) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.48% |
| Cost of funding earning assets | 2.39% |
| Net interest margin | 2.09% |
| Noninterest income to earning assets | 1.30% |
| Noninterest expense to earning assets | 5.68% |
| Net operating income to assets | -6.59% |
| Return on assets (ROA) | -6.59% |
| Pretax return on assets | -6.09% |
| Return on equity (ROE) | -84.84% |
| Retained earnings to average equity (YTD only) | -84.84% |
| Net charge-offs to loans | 5.75% |
| Credit loss provision to net charge-offs | 102.24% |
| Efficiency ratio | -0.50% |
| Assets per employee | $162,531 |
| Cash dividends to net income (YTD only) | 6.67% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 5.36% |
| Noncurrent assets plus other real estate owned to assets | 67.26% |
| Noncurrent loans to loans | 8.14% |
| Net loans and leases to deposits | 7.97% |
| Net loans and leases to core deposits | 66.48% |
| Equity capital to assets | 78.53% |
| Core capital (leverage) ratio | 6.40% |
| Tier 1 risk-based capital ratio | 4.86% |
| Total risk-based capital ratio | 7.01% |
| Memoranda | |
| Average assets | $8 |
| Average earning assets | $110,665 |
| Average equity | $8,600 |
| Average loans | $96,497 |
| Total Fiduciary and Related Assets (December 31, 2009) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $164,097 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $16,342 |
| Employee benefit-defined contribution accounts | $9,846 |
| Employee benefit-defined benefit accounts | $3,688 |
| Other retirement accounts | $353 |
| Corporate trust and agency accounts | $698 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $1,757 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 1630 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $698 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $147,755 |
| Corporate trust and agency accounts | $30,543 |
| Other fiduciary accounts | $3,777 |
| Fiduciary accounts held in foreign offices | $106,785 |
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Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.