Signature Bank in Bad Axe, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Signature Bank - Overview

  • General
  • FDIC Certificate #: 10936
    Status: Active
    Federal Reserve ID: 964344
    Bank Holding Company (Regulatory Top Holder): First Of Huron Corp. (RSSDID: 1205633, Location: Bad Axe, MI)
    Date Established: January 01, 1894
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 11858
    FDIC's unique #: 7001
    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: January 01, 1934
    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: One East Huron Avenue, Bad Axe, MI 48413
    County: Huron
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $232.6 mil
    Equity capital: $19.4 mil
    Deposits held in domestic offices: $203.0 mil
    Return on assets (ROA): -0.85% (-$2.0 mil)
    Quarterly return on assets: -0.40% (-$0.9 mil)
    Return on Equity (ROE): -10.20% (-$1.9 mil)
    Quarterly return on equity: -4.86% (-$0.9 mil)
    Net income: -$2.1 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: -0.85% (-$1,976.9 mil)
    Quarterly Pretax return on assets: -0.40% (-$930.3 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
  • 99Total employees (full-time equivalent)
  • $232,574Total assets
  • $24,275Cash and due from depository institutions
  • $17,745Interest-bearing balances
  • $21,165Securities
  • $2,000Federal funds sold & reverse repurchase agreements
  • $170,182Net loans & leases
  • $5,320Loan loss allowance
  • $0Trading account assets
  • $5,393Bank premises and fixed assets
  • $1,978Other real estate owned
  • $0Goodwill and other intangibles
  • $232,574Life insurance assets
  • $7,581All other assets
  • $213,217Total liabilities and capital
  • $202,981Total liabilities
  • $156,643Total deposits
  • $202,981Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,000Trading liabilities
  • $0Other borrowed funds
  • $1,236Subordinated debt
  • $19,357All other liabilities
  • $19,357Total equity capital
  • $19,357Total bank equity capital
  • $0Perpetual preferred stock
  • $1,435Common stock
  • $13,999Surplus
  • $3,923Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,102Income earned, not collected on loans
  • $0Earning assets
  • $1,075Long-term assets (5+ years)
  • $211,092Average Assets, year-to-date
  • $8,714Average Assets, quarterly
  • $241,731Volatile liabilities
  • $235,264Insider loans
  • $167,764FHLB advances
  • $235,476Loans and leases held for sale
  • $3,977Unused loan commitments
  • $3,977Tier 1 (core) risk-based capital
  • $19,115Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,583Restructured Loans and leases
  • $1,561Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,746Total interest income
  • $2,482Total interest expense
  • $10,264Net interest income
  • $4,330Provision for loan and lease losses
  • $1,037Total noninterest income
  • $0Fiduciary activities
  • $475Service charges on deposit accounts
  • $0Trading account gains & fees
  • $562Additional noninterest income
  • $9,062Total noninterest expense
  • $4,316Salaries and employee benefits
  • $1,411Premises and equipment expense
  • $3,335Additional noninterest expense
  • -$2,091Pre-tax net operating income
  • $28Securities gains (losses)
  • $0Applicable income taxes
  • -$2,063Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,063Net income attributable to bank
  • $0Net charge-offs
  • -$2,063Cash dividends
  • $3,285Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.77%Yield on earning assets
  • 1.12%Cost of funding earning assets
  • 4.65%Net interest margin
  • 0.47%Noninterest income to earning assets
  • 4.10%Noninterest expense to earning assets
  • -0.87%Net operating income to assets
  • -0.85%Return on assets (ROA)
  • -0.85%Pretax return on assets
  • -10.20%Return on equity (ROE)
  • -10.20%Retained earnings to average equity (YTD only)
  • 1.71%Net charge-offs to loans
  • 131.81%Credit loss provision to net charge-offs
  • 0.68%Efficiency ratio
  • 80,188Assets per employee
  • 2.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.03%Loss allowance to noncurrent loans
  • 74.91%Noncurrent assets plus other real estate owned to assets
  • 3.90%Noncurrent loans to loans
  • 4.05%Net loans and leases to deposits
  • 83.84%Net loans and leases to core deposits
  • 85.02%Equity capital to assets
  • 8.32%Core capital (leverage) ratio
  • 8.12%Tier 1 risk-based capital ratio
  • 11.39%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $241,731Average earning assets
  • $20,216Average equity
  • $220,834Average loans

List of branches

  • 8 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07001Signature BankOne East Huron Avenue, Bad Axe, MI 48413January 01, 1894Full Service Brick and Mortar
    113982Port Hope Branch4474 Main Street, Port Hope, MI 48468December 01, 1970Full Service Brick and Mortar
    2250702North Van Dyke Branch833 North Van Dyke, Bad Axe, MI 48413Febuary 02, 1976Full Service Brick and Mortar
    3250703Harbor Beach Branch106 South Huron, Harbor Beach, MI 48441March 17, 1980Full Service Brick and Mortar
    4250704Sebewaing Branch668 Unionville Road, Sebewaing, MI 48759July 13, 1983Full Service Brick and Mortar
    9264292Caro Branch345 North State Street, Caro, MI 48723January 01, 1890Full Service Brick and Mortar
    10364021Sandusky Branch520 West Sanilac Road, Sandusky, MI 48471January 02, 2002Full Service Brick and Mortar
    11452988Genesee Street Branch170 West Genesee Street, Frankenmuth, MI 48734December 22, 2005Full Service Brick and Mortar

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