Southern Michigan Bank & Trust in Coldwater, Michigan (MI)

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Southern Michigan Bank & Trust
GeneralFDIC Certificate #: 5019
Status: Active
Federal Reserve ID: 822042
Bank Holding Company (Regulatory Top Holder): Southern Michigan Bancorp, Inc. (RSSDID: 1207824, Location: Coldwater, MI)
Date Established: January 16, 1872
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 17 (Domestic: 17, Interstate: No)
OTS Docket #: 9655
FDIC's unique #: 3348
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: April 25, 2009
Last Structure Change Process Date: May 20, 2009
Last Data Update: May 20, 2009
Data Source Date: April 05, 2012
LocationAddress: 45-51 West Pearl Street, Coldwater, MI 49036
County: Branch
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): Coldwater, MI (#17740)
CBSA Micro Statistical Area: Yes
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $508.6 mil
Equity capital: $57.9 mil
Deposits held in domestic offices: $421.5 mil
Return on assets (ROA): 0.74% ($3.8 mil)
Quarterly return on assets: 0.84% ($4.3 mil)
Return on Equity (ROE): 6.52% ($3.8 mil)
Quarterly return on equity: 7.43% ($4.3 mil)
Net income: $3.7 mil
Quarterly Net income: $1.1 mil
Pretax return on assets: 0.96% ($4,882.4 mil)
Quarterly Pretax return on assets: 1.13% ($5,746.9 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)171
Total assets$508,579
Cash and due from depository institutions$42,185
Interest-bearing balances$30,691
Federal funds sold & reverse repurchase agreements$287
Net loans & leases$328,480
Loan loss allowance $5,412
Trading account assets$0
Bank premises and fixed assets$11,437
Other real estate owned$1,530
Goodwill and other intangibles$16,057
All other assets$18,259
Life insurance assets$508,579
Total liabilities and capital$450,632
Total liabilities$421,489
Total deposits$398,947
Interest-bearing deposits$421,489
Deposits held in domestic offices$82
% insured (estimated)18074.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,117
Other borrowed funds $0
Subordinated debt $4,952
All other liabilities $57,947
Total equity capital$57,947
Total bank equity capital$57,947
Perpetual preferred stock$0
Common stock$1,439
Undivided profits $8,576
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,088
Income earned, not collected on loans $5,709
Earning assets $0
Long-term assets (5+ years) $2,148
Average Assets, year-to-date $449,802
Average Assets, quarterly $48,923
Volatile liabilities $499,640
Insider loans $511,612
FHLB advances $344,651
Loans and leases held for sale $499,064
Unused loan commitments $10,312
Tier 1 (core) risk-based capital $10,312
Tier 2 risk-based capital $42,756
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $77,147
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $19,662
Total interest expense $3,364
Net interest income $16,298
Provision for loan and lease losses $1,050
Total noninterest income $6,305
Fiduciary activities $1,120
Service charges on deposit accounts $2,032
Trading account gains & fees $0
Additional noninterest income $3,153
Total noninterest expense $16,781
Salaries and employee benefits $9,867
Premises and equipment expense $2,054
Additional noninterest expense $4,860
Pre-tax net operating income $4,772
Securities gains (losses) $29
Applicable income taxes $1,119
Income before extraordinary items $3,682
Extraordinary gains - net $0
Net income attributable to bank $3,682
Net charge-offs $0
Cash dividends $3,682
Sale, conversion, retirement of capital stock, net $1,332
Net operating income $1,437
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.45%
Cost of funding earning assets 0.76%
Net interest margin 3.69%
Noninterest income to earning assets 1.43%
Noninterest expense to earning assets 3.80%
Net operating income to assets 0.73%
Return on assets (ROA) 0.74%
Pretax return on assets 0.96%
Return on equity (ROE) 6.52%
Retained earnings to average equity (YTD only) 3.97%
Net charge-offs to loans 0.42%
Credit loss provision to net charge-offs 78.83%
Efficiency ratio4.37%
Assets per employee$72,743
Cash dividends to net income (YTD only)2.97%
Condition Ratios (%)
Loss allowance to loans 39.03%
Loss allowance to noncurrent loans 1.62%
Noncurrent assets plus other real estate owned to assets 94.80%
Noncurrent loans to loans 1.42%
Net loans and leases to deposits1.71%
Net loans and leases to core deposits 77.93%
Equity capital to assets 82.94%
Core capital (leverage) ratio 11.39%
Tier 1 risk-based capital ratio 8.57%
Total risk-based capital ratio 12.41%
Average assets$14
Average earning assets$499,640
Average equity $56,484
Average loans $441,425
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$171,516
Number of Accounts1
Personal trust and agency accounts$168,195
Employee benefit-defined contribution accounts$64,066
Employee benefit-defined benefit accounts$12,166
Other retirement accounts$1,449
Corporate trust and agency accounts$18,178
Investment management agency accounts$0
Other fiduciary accounts$59,607
Fiduciary accounts held in foreign offices$10,028
Non-managed Assets$2,701
Number of Accounts466
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$17,612
Employee benefit-defined benefit accounts$0
Other retirement accounts$3,321
Corporate trust and agency accounts$233
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$3,088
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17 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03348Southern Michigan Bank & Trust45-51 West Pearl Street, Coldwater, MI 49036January 16, 1872Full Service Brick and Mortar
1206425Shopping Center Branch51 West Pearl Street, Coldwater, MI 49036June 28, 1962Limited Service Facility
2206426Union City Branch225 North Broadway, Union City, MI 49094September 01, 1965Full Service Brick and Mortar
3206427Tekonsha Branch202 North Main Street, Tekonsha, MI 49092April 01, 1969Full Service Brick and Mortar
4206428The Motor Bank Branch405 North Broadway, Union City, MI 49094July 15, 1974Limited Service Facility
5206429East Chicago Branch441 East Chicago Street, Coldwater, MI 49036April 18, 1977Limited Service Facility
7231482Camden Branch107 North Main Street, Camden, MI 49232July 11, 1963Limited Service Facility
8231488Hillsdale Branch10 East Carlton Road, Hillsdale, MI 49242June 18, 1980Full Service Brick and Mortar
11206431Battle Creek Branch5350 Beckley Road, B Drive North, Battle Creek, MI 49015August 13, 1990Full Service Brick and Mortar
13206433Chicago Street Branch2 West Chicago Street, Suite A, Coldwater, MI 49036Febuary 12, 1996Full Service Brick and Mortar
17462491Marshall Branch1110 West Michigan Avenue, Marshall, MI 49068April 16, 2007Full Service Brick and Mortar
183371Fnb Financial Branch88 North Main Street, Three Rivers, MI 49093January 01, 1864Full Service Brick and Mortar
19207013North Main Branch1200 North Main Street, Three Rivers, MI 49093December 17, 1979Limited Service Facility
20207014Westland Branch58665 U.S. 131, Three Rivers, MI 49093March 11, 1980Full Service Brick and Mortar
21207015Constantine Branch345 North Washington, Constantine, MI 49042January 07, 1991Full Service Brick and Mortar
22206809Mendon Branch136 North Nottawa, Mendon, MI 49072December 20, 1967Full Service Brick and Mortar
23207016Centreville Branch235 East Main Street, Centreville, MI 49032May 06, 1998Full Service Brick and Mortar
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