Peoples State Bank of Munising in Munising, Michigan (MI)

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Peoples State Bank of Munising
GeneralFDIC Certificate #: 15165
Status: Active
Federal Reserve ID: 262956
Bank Holding Company (Regulatory Top Holder): Peoples State Bancorp, Inc. (RSSDID: 3072017, Location: Munising, MI)
Date Established: June 07, 1910
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 14659
FDIC's unique #: 9532
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: May 29, 1935
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
LocationAddress: 100 East Superior Street, Munising, MI 49862
County: Alger
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Appleton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $119.8 mil
Equity capital: $15.4 mil
Deposits held in domestic offices: $90.5 mil
Return on assets (ROA): 0.94% ($1.1 mil)
Quarterly return on assets: 1.04% ($1.2 mil)
Return on Equity (ROE): 7.35% ($1.1 mil)
Quarterly return on equity: 8.09% ($1.2 mil)
Net income: $1.1 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.03% ($1,233.9 mil)
Quarterly Pretax return on assets: 1.14% ($1,365.7 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)30
Total assets$119,796
Cash and due from depository institutions$5,918
Interest-bearing balances$158
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$72,653
Loan loss allowance $1,178
Trading account assets$0
Bank premises and fixed assets$1,230
Other real estate owned$1,229
Goodwill and other intangibles$425
All other assets$6,600
Life insurance assets$119,796
Total liabilities and capital$104,435
Total liabilities$90,511
Total deposits$77,192
Interest-bearing deposits$90,511
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,500
Other borrowed funds $0
Subordinated debt $1,424
All other liabilities $15,361
Total equity capital$15,361
Total bank equity capital$15,361
Perpetual preferred stock$0
Common stock$300
Undivided profits $10,561
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,630
Earning assets $0
Long-term assets (5+ years) $739
Average Assets, year-to-date $104,552
Average Assets, quarterly $20,103
Volatile liabilities $117,373
Insider loans $120,374
FHLB advances $79,016
Loans and leases held for sale $118,973
Unused loan commitments $4,376
Tier 1 (core) risk-based capital $4,054
Tier 2 risk-based capital $14,215
Total risk weighted assets $0
Total unused commitments $322
Restructured Loans and leases $1,985
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,034
Total interest expense $1,415
Net interest income $4,619
Provision for loan and lease losses $530
Total noninterest income $432
Fiduciary activities $0
Service charges on deposit accounts $155
Trading account gains & fees $0
Additional noninterest income $277
Total noninterest expense $3,322
Salaries and employee benefits $1,745
Premises and equipment expense $376
Additional noninterest expense $1,201
Pre-tax net operating income $1,199
Securities gains (losses) $12
Applicable income taxes $110
Income before extraordinary items $1,101
Extraordinary gains - net $0
Net income attributable to bank $1,101
Net charge-offs $0
Cash dividends $1,101
Sale, conversion, retirement of capital stock, net $437
Net operating income $418
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.83%
Cost of funding earning assets 1.37%
Net interest margin 4.46%
Noninterest income to earning assets 0.42%
Noninterest expense to earning assets 3.21%
Net operating income to assets 0.93%
Return on assets (ROA) 0.94%
Pretax return on assets 1.03%
Return on equity (ROE) 7.35%
Retained earnings to average equity (YTD only) 4.56%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 121.28%
Efficiency ratio3.96%
Assets per employee$65,769
Cash dividends to net income (YTD only)3.99%
Condition Ratios (%)
Loss allowance to loans 37.97%
Loss allowance to noncurrent loans 1.60%
Noncurrent assets plus other real estate owned to assets 44.79%
Noncurrent loans to loans 3.22%
Net loans and leases to deposits3.56%
Net loans and leases to core deposits 80.27%
Equity capital to assets 88.57%
Core capital (leverage) ratio 12.82%
Tier 1 risk-based capital ratio 11.95%
Total risk-based capital ratio 17.99%
Average assets$19
Average earning assets$117,373
Average equity $14,975
Average loans $103,488
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6 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09532Peoples State Bank Of Munising100 East Superior Street, Munising, MI 49862June 07, 1910Full Service Brick and Mortar
2233318Au Train BranchArbutus And Woodland, Au Train Township, MI 49806July 24, 1978Full Service Brick and Mortar
3233319Wetmore BranchM-28 And Connors Road, Village Of Wetmore, MI 49895March 23, 1992Full Service Brick and Mortar
4233320Seney BranchM-28 And Grand Street, Seney, MI 49854August 17, 1998Full Service Brick and Mortar
5207080Grand Marais Branch412 Lake Street, Grand Marais, MI 49839January 31, 1972Full Service Brick and Mortar
6362276Chatham Branch206 Rock River Street, Chatham, MI 49816November 05, 2001Full Service Brick and Mortar
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