Signature Bank in Bad Axe, Michigan (MI)

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Signature Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)99
Total assets$232,574
Cash and due from depository institutions$24,275
Interest-bearing balances$17,745
Federal funds sold & reverse repurchase agreements$2,000
Net loans & leases$170,182
Loan loss allowance $5,320
Trading account assets$0
Bank premises and fixed assets$5,393
Other real estate owned$1,978
Goodwill and other intangibles$0
All other assets$7,581
Life insurance assets$232,574
Total liabilities and capital$213,217
Total liabilities$202,981
Total deposits$156,643
Interest-bearing deposits$202,981
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$9,000
Other borrowed funds $0
Subordinated debt $1,236
All other liabilities $19,357
Total equity capital$19,357
Total bank equity capital$19,357
Perpetual preferred stock$0
Common stock$1,435
Undivided profits $3,923
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 $7,102
Earning assets $0
Long-term assets (5+ years) $1,075
Average Assets, year-to-date $211,092
Average Assets, quarterly $8,714
Volatile liabilities $241,731
Insider loans $235,264
FHLB advances $167,764
Loans and leases held for sale $235,476
Unused loan commitments $3,977
Tier 1 (core) risk-based capital $3,977
Tier 2 risk-based capital $19,115
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $18,583
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,746
Total interest expense $2,482
Net interest income $10,264
Provision for loan and lease losses $4,330
Total noninterest income $1,037
Fiduciary activities $0
Service charges on deposit accounts $475
Trading account gains & fees $0
Additional noninterest income $562
Total noninterest expense $9,062
Salaries and employee benefits $4,316
Premises and equipment expense $1,411
Additional noninterest expense $3,335
Pre-tax net operating income -$2,091
Securities gains (losses) $28
Applicable income taxes $0
Income before extraordinary items -$2,063
Extraordinary gains - net $0
Net income attributable to bank -$2,063
Net charge-offs $0
Cash dividends -$2,063
Sale, conversion, retirement of capital stock, net $3,285
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.77%
Cost of funding earning assets 1.12%
Net interest margin 4.65%
Noninterest income to earning assets 0.47%
Noninterest expense to earning assets 4.10%
Net operating income to assets -0.87%
Return on assets (ROA) -0.85%
Pretax return on assets -0.85%
Return on equity (ROE) -10.20%
Retained earnings to average equity (YTD only) -10.20%
Net charge-offs to loans 1.71%
Credit loss provision to net charge-offs 131.81%
Efficiency ratio0.68%
Assets per employee$80,188
Cash dividends to net income (YTD only)2.35%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.03%
Noncurrent assets plus other real estate owned to assets 74.91%
Noncurrent loans to loans 3.90%
Net loans and leases to deposits4.05%
Net loans and leases to core deposits 83.84%
Equity capital to assets 85.02%
Core capital (leverage) ratio 8.32%
Tier 1 risk-based capital ratio 8.12%
Total risk-based capital ratio 11.39%
Average assets$13
Average earning assets$241,731
Average equity $20,216
Average loans $220,834
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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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