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- Banks in Michigan (MI)
- Portage Commerce Bank
Portage Commerce Bank in Portage, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of March 31, 2009
- Portage Commerce Bank in Portage, Michigan (MI)
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Portage Commerce Bank - Overview
- General
- FDIC Certificate #: 27236
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Michigan Commerce Bank (#33134)
Federal Reserve ID: 1190001
Date Established: May 02, 1988
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 39171
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: May 02, 1988
Last Structure Change Effective Date: March 31, 2009
Last Structure Change Process Date: April 02, 2009
Last Data Update: April 02, 2009
Data Source Date: April 05, 2012 - Location
- Address: 800 East Milham, Portage, MI 49081
County: Kalamazoo
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): Kalamazoo-Battle Creek, MI (#3720)
Core Based Statistical Area (CBSA): Kalamazoo-Portage, MI (#28020)
CBSA Metro Statistical Area: Kalamazoo-Portage, MI (#28020) - Financial Summary
- Total assets: $217.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
- Dollar figures in thousands
- 30Total employees (full-time equivalent)
- $217,668Total assets
- $16,895Cash and due from depository institutions
- $13,468Interest-bearing balances
- $1,167Securities
- $0Federal funds sold & reverse repurchase agreements
- $192,136Net loans & leases
- $2,208Loan loss allowance
- $0Trading account assets
- $3,754Bank premises and fixed assets
- $392Other real estate owned
- $0Goodwill and other intangibles
- $149Life insurance assets
- $3,324All other assets
- $217,668Total liabilities and capital
- $199,702Total liabilities
- $189,858Total deposits
- $174,601Interest-bearing deposits
- $189,858Deposits held in domestic offices
- 0.00%% insured (estimated)
- $0Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $9,250Other borrowed funds
- $0Subordinated debt
- $594All other liabilities
- $17,966Total equity capital
- $17,966Total bank equity capital
- $17,966Perpetual preferred stock
- $0Common stock
- $275Surplus
- $12,477Undivided profits
- Memoranda
- $5,214Noncurrent loans and leases
- $27,850Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $1,206Earning assets
- $169Long-term assets (5+ years)
- $798Average Assets, year-to-date
- $206,771Average Assets, quarterly
- $13,907Volatile liabilities
- $209,259Insider loans
- $220,124FHLB advances
- $37,849Loans and leases held for sale
- $11,204Unused loan commitments
- $9,250Tier 1 (core) risk-based capital
- $803Tier 2 risk-based capital
- $569Total risk weighted assets
- $27,850Total unused commitments
- $1,180Restructured Loans and leases
- $2,208Derivatives
Income and Expense (December 31, 2008)
- Dollar figures in thousands
- $13,383Total interest income
- $6,159Total interest expense
- $7,224Net interest income
- $820Provision for loan and lease losses
- $980Total noninterest income
- $0Fiduciary activities
- $400Service charges on deposit accounts
- $0Trading account gains & fees
- $580Additional noninterest income
- $3,833Total noninterest expense
- $1,393Salaries and employee benefits
- $373Premises and equipment expense
- $2,067Additional noninterest expense
- $3,551Pre-tax net operating income
- $0Securities gains (losses)
- $1,185Applicable income taxes
- $2,366Income before extraordinary items
- $0Extraordinary gains - net
- $2,366Net income attributable to bank
- $0Net charge-offs
- $0Cash dividends
- $424Sale, conversion, retirement of capital stock, net
- $1,840Net operating income
Performance and Condition Ratios (December 31, 2008)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 6.88%Yield on earning assets
- 3.17%Cost of funding earning assets
- 3.71%Net interest margin
- 0.50%Noninterest income to earning assets
- 1.97%Noninterest expense to earning assets
- 1.13%Net operating income to assets
- 1.13%Return on assets (ROA)
- 1.70%Pretax return on assets
- 13.64%Return on equity (ROE)
- 3.03%Retained earnings to average equity (YTD only)
- 0.22%Net charge-offs to loans
- 193.40%Credit loss provision to net charge-offs
- 10.31%Efficiency ratio
- 46,721Assets per employee
- 7.26%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 77.77%Loss allowance to loans
- 1.14%Loss allowance to noncurrent loans
- 183.08%Noncurrent assets plus other real estate owned to assets
- 0.73%Noncurrent loans to loans
- 0.62%Net loans and leases to deposits
- 101.20%Net loans and leases to core deposits
- 123.55%Equity capital to assets
- 8.25%Core capital (leverage) ratio
- 8.33%Tier 1 risk-based capital ratio
- 9.16%Total risk-based capital ratio
- Memoranda
- $10Average assets
- $209,259Average earning assets
- $17,352Average equity
- $194,493Average loans
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- Banks in Michigan (MI)
- Portage Commerce Bank
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