Seaway Community Bank in Saint Clair, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Seaway Community Bank in Saint Clair, Michigan (MI)
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Seaway Community Bank - Overview

  • General
  • FDIC Certificate #: 57240
    Status: Active
    Federal Reserve ID: 3048982
    Bank Holding Company (Regulatory Top Holder): Northstar Financial Group, Inc. (RSSDID: 2958990, Location: Bad Axe, MI)
    Date Established: December 03, 2001
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 359960
    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: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 03, 2001
    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
  • Location
  • Address: 1960 Fred Moore Highway, Saint Clair, MI 48079
    County: St. Clair
    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)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $171.8 mil
    Equity capital: $16.3 mil
    Deposits held in domestic offices: $140.5 mil
    Return on assets (ROA): -0.33% (-$0.6 mil)
    Quarterly return on assets: -1.65% (-$2.8 mil)
    Return on Equity (ROE): -3.50% (-$0.6 mil)
    Quarterly return on equity: -17.55% (-$2.8 mil)
    Net income: -$0.6 mil
    Quarterly Net income: -$0.7 mil
    Pretax return on assets: -0.33% (-$567.0 mil)
    Quarterly Pretax return on assets: -1.65% (-$2,835.2 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
  • 34Total employees (full-time equivalent)
  • $171,831Total assets
  • $14,246Cash and due from depository institutions
  • $9,914Interest-bearing balances
  • $18,003Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $126,299Net loans & leases
  • $7,478Loan loss allowance
  • $0Trading account assets
  • $8,472Bank premises and fixed assets
  • $2,698Other real estate owned
  • $0Goodwill and other intangibles
  • $171,831Life insurance assets
  • $2,113All other assets
  • $155,538Total liabilities and capital
  • $140,487Total liabilities
  • $118,089Total deposits
  • $140,487Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $14,696Trading liabilities
  • $0Other borrowed funds
  • $355Subordinated debt
  • $16,293All other liabilities
  • $16,293Total equity capital
  • $16,293Total bank equity capital
  • $0Perpetual preferred stock
  • $2,500Common stock
  • $22,350Surplus
  • $-8,557Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $775Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,864Income earned, not collected on loans
  • $345Earning assets
  • $594Long-term assets (5+ years)
  • $154,216Average Assets, year-to-date
  • $11,785Average Assets, quarterly
  • $172,683Volatile liabilities
  • $175,396Insider loans
  • $127,781FHLB advances
  • $172,415Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,686Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,179Restructured Loans and leases
  • $1,929Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,096Total interest income
  • $1,835Total interest expense
  • $6,261Net interest income
  • $2,005Provision for loan and lease losses
  • $1,292Total noninterest income
  • $0Fiduciary activities
  • $602Service charges on deposit accounts
  • $0Trading account gains & fees
  • $690Additional noninterest income
  • $6,114Total noninterest expense
  • $1,974Salaries and employee benefits
  • $658Premises and equipment expense
  • $3,482Additional noninterest expense
  • -$566Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$566Income before extraordinary items
  • $0Extraordinary gains - net
  • -$566Net income attributable to bank
  • $0Net charge-offs
  • -$566Cash dividends
  • $3,174Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.18%Yield on earning assets
  • 1.17%Cost of funding earning assets
  • 4.00%Net interest margin
  • 0.83%Noninterest income to earning assets
  • 3.91%Noninterest expense to earning assets
  • -0.33%Net operating income to assets
  • -0.33%Return on assets (ROA)
  • -0.33%Pretax return on assets
  • -3.50%Return on equity (ROE)
  • -3.50%Retained earnings to average equity (YTD only)
  • 2.49%Net charge-offs to loans
  • 63.17%Credit loss provision to net charge-offs
  • 0.45%Efficiency ratio
  • 80,948Assets per employee
  • 5.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.59%Loss allowance to noncurrent loans
  • 108.95%Noncurrent assets plus other real estate owned to assets
  • 5.56%Noncurrent loans to loans
  • 5.13%Net loans and leases to deposits
  • 89.90%Net loans and leases to core deposits
  • 104.55%Equity capital to assets
  • 9.48%Core capital (leverage) ratio
  • 9.10%Tier 1 risk-based capital ratio
  • 12.28%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $172,683Average earning assets
  • $16,164Average equity
  • $156,380Average loans

List of branches

  • 4 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0359960Seaway Community Bank1960 Fred Moore Highway, Saint Clair, MI 48079December 03, 2001Full Service Brick and Mortar
    1418709Algonac Branch900 Point Tremble Road, Algonac, MI 48001October 07, 2002Full Service Brick and Mortar
    2429726Lenox Branch66550 Gratiot, Lenox, MI 48050May 19, 2004Full Service Brick and Mortar
    3429727Port Huron Branch511 Fort Street, Ste. 100, Port Huron, MI 48060September 08, 2003Limited Service Loan Production

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