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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