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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