Society National Bank, Sturgis in Sturgis, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 15, 1993

  • Society National Bank, Sturgis in Sturgis, Michigan (MI)
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Society National Bank, Sturgis - Overview

  • General
  • FDIC Certificate #: 16316
    Status: Inactive
    Closing history: Consolidated - Without Assistance
    Acquiring institution: Keybank National Association (#21735)
    Federal Reserve ID: 976244
    Date Established: November 05, 1945
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 6 (Interstate: No)
    FDIC's unique #: 10503
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: November 05, 1945
    Last Structure Change Effective Date: March 15, 1993
    Last Structure Change Process Date: March 31, 1993
    Last Data Update: March 31, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 205 East Chicago Road, Sturgis, MI 49091
    County: St. Joseph
    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
    Core Based Statistical Area (CBSA): Sturgis, MI (#44780)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $95.6 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $44Total assets
  • $95,575Cash and due from depository institutions
  • $4,612Interest-bearing balances
  • $0Securities
  • $51,727Federal funds sold & reverse repurchase agreements
  • $4,000Net loans & leases
  • $32,745Loan loss allowance
  • $998Trading account assets
  • $0Bank premises and fixed assets
  • $1,213Other real estate owned
  • $15Goodwill and other intangibles
  • $1,263Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $95,575Total liabilities
  • $85,427Total deposits
  • $81,349Interest-bearing deposits
  • $70,997Deposits held in domestic offices
  • 81349.00%% insured (estimated)
  • $95Federal funds purchased & repurchase agreements
  • $2,108Trading liabilities
  • $0Other borrowed funds
  • $1,062Subordinated debt
  • $200All other liabilities
  • $708Total equity capital
  • $708Total bank equity capital
  • $10,148Perpetual preferred stock
  • $0Common stock
  • $929Surplus
  • $929Undivided profits
  • Memoranda
  • $8,290Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $725Income earned, not collected on loans
  • $175Earning assets
  • $88,472Long-term assets (5+ years)
  • $24,666Average Assets, year-to-date
  • $99,748Average Assets, quarterly
  • $95,581Volatile liabilities
  • $4,517Insider loans
  • $36FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $6,985Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $10,148Total risk weighted assets
  • $42,067Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $7,158Total interest expense
  • $3,604Net interest income
  • $3,554Provision for loan and lease losses
  • $520Total noninterest income
  • $1,121Fiduciary activities
  • $474Service charges on deposit accounts
  • $440Trading account gains & fees
  • $0Additional noninterest income
  • $207Total noninterest expense
  • $2,875Salaries and employee benefits
  • $1,149Premises and equipment expense
  • $402Additional noninterest expense
  • $1,324Pre-tax net operating income
  • $1,280Securities gains (losses)
  • -$8Applicable income taxes
  • $140Income before extraordinary items
  • $1,132Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,132Net charge-offs
  • $245Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.73%Cost of funding earning assets
  • 3.89%Net interest margin
  • 3.84%Noninterest income to earning assets
  • 1.21%Noninterest expense to earning assets
  • 3.10%Net operating income to assets
  • 1.14%Return on assets (ROA)
  • 1.13%Pretax return on assets
  • 1.28%Return on equity (ROE)
  • 11.91%Retained earnings to average equity (YTD only)
  • 11.91%Net charge-offs to loans
  • 0.58%Credit loss provision to net charge-offs
  • 212.24%Efficiency ratio
  • 61,497Assets per employee
  • 2.17%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.96%Loss allowance to noncurrent loans
  • 137.66%Noncurrent assets plus other real estate owned to assets
  • 0.77%Noncurrent loans to loans
  • 2.15%Net loans and leases to deposits
  • 40.25%Net loans and leases to core deposits
  • 40.93%Equity capital to assets
  • 10.62%Core capital (leverage) ratio
  • 10.71%Tier 1 risk-based capital ratio
  • 24.12%Total risk-based capital ratio
  • Memoranda
  • $25Average assets
  • $99,748Average earning assets
  • $9,502Average equity
  • $92,624Average loans

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