Paramount Bank in Farmington Hills, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 10, 2010

  • Paramount Bank in Farmington Hills, Michigan (MI)
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Paramount Bank - Overview

  • General
  • FDIC Certificate #: 34673
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Level One Bank (#58604)
    Federal Reserve ID: 2636083
    Date Established: Febuary 12, 1998
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Interstate: No)
    OTS Docket #: 15779
    FDIC's unique #: 61125
    Numeric code: 13
    Regulator: FED
    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: Febuary 12, 1998
    Last Structure Change Effective Date: December 10, 2010
    Last Structure Change Process Date: December 13, 2010
    Last Data Update: December 13, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 31000 Northwestern Highway, Farmington Hills, MI 48334
    County: Oakland
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Detroit
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Detroit, MI (#2160)
    Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
    Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
    Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820)
    CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820)
    Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
  • Financial Summary
  • Total assets: $252.7 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
  • 68Total employees (full-time equivalent)
  • $288,263Total assets
  • $25,913Cash and due from depository institutions
  • $25,427Interest-bearing balances
  • $8,088Securities
  • $686Federal funds sold & reverse repurchase agreements
  • $244,974Net loans & leases
  • $6,498Loan loss allowance
  • $0Trading account assets
  • $876Bank premises and fixed assets
  • $2,242Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $5,484All other assets
  • $288,262Total liabilities and capital
  • $275,631Total liabilities
  • $236,337Total deposits
  • $226,651Interest-bearing deposits
  • $236,337Deposits held in domestic offices
  • 96.66%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $38,500Other borrowed funds
  • $0Subordinated debt
  • $794All other liabilities
  • $12,631Total equity capital
  • $12,631Total bank equity capital
  • $12,631Perpetual preferred stock
  • $0Common stock
  • $1,626Surplus
  • $30,482Undivided profits
  • Memoranda
  • $-19,477Noncurrent loans and leases
  • $12,366Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $13,456Earning assets
  • $0Long-term assets (5+ years)
  • $951Average Assets, year-to-date
  • $279,175Average Assets, quarterly
  • $23,985Volatile liabilities
  • $280,326Insider loans
  • $284,534FHLB advances
  • $71,059Loans and leases held for sale
  • $740Unused loan commitments
  • $38,500Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $7,202Total risk weighted assets
  • $12,366Total unused commitments
  • $15,504Restructured Loans and leases
  • $2,928Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $14,436Total interest income
  • $7,686Total interest expense
  • $6,750Net interest income
  • $8,255Provision for loan and lease losses
  • $2,846Total noninterest income
  • $0Fiduciary activities
  • $188Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,658Additional noninterest income
  • $11,266Total noninterest expense
  • $4,921Salaries and employee benefits
  • $1,322Premises and equipment expense
  • $5,023Additional noninterest expense
  • -$9,925Pre-tax net operating income
  • -$6Securities gains (losses)
  • $0Applicable income taxes
  • -$9,931Income before extraordinary items
  • $0Extraordinary gains - net
  • -$9,931Net income attributable to bank
  • $0Net charge-offs
  • -$9,931Cash dividends
  • $7,801Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.37%Yield on earning assets
  • 2.86%Cost of funding earning assets
  • 2.51%Net interest margin
  • 1.06%Noninterest income to earning assets
  • 4.19%Noninterest expense to earning assets
  • -3.54%Net operating income to assets
  • -3.54%Return on assets (ROA)
  • -3.54%Pretax return on assets
  • -52.88%Return on equity (ROE)
  • -52.88%Retained earnings to average equity (YTD only)
  • 3.13%Net charge-offs to loans
  • 105.82%Credit loss provision to net charge-offs
  • -0.21%Efficiency ratio
  • 117,403Assets per employee
  • 4.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.58%Loss allowance to noncurrent loans
  • 48.29%Noncurrent assets plus other real estate owned to assets
  • 5.45%Noncurrent loans to loans
  • 5.35%Net loans and leases to deposits
  • 103.65%Net loans and leases to core deposits
  • 146.01%Equity capital to assets
  • 4.38%Core capital (leverage) ratio
  • 4.51%Tier 1 risk-based capital ratio
  • 5.54%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $280,326Average earning assets
  • $18,781Average equity
  • $269,004Average loans

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