State Savings Bank, Frankfort, Mich. in Frankfort, Michigan (MI)



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State Savings Bank, Frankfort, Mich. routing number info

Table of contents:
State Savings Bank, Frankfort, Mich.
GeneralFDIC Certificate #: 8162
Status: Active
Federal Reserve ID: 22543
Bank Holding Company (Regulatory Top Holder): Central-State Bancorp, Inc. (RSSDID: 1245666, Location: Traverse City, MI)
Date Established: January 01, 1901
WWW: http://www.istatesavingsbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 11909
FDIC's unique #: 5199
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: 703 Main Street, Frankfort, MI 49635
County: Benzie
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): Traverse City, MI (#45900)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $83.3 mil
Equity capital: $14.2 mil
Deposits held in domestic offices: $69.0 mil
Return on assets (ROA): 0.53% ($0.4 mil)
Quarterly return on assets: -0.77% (-$0.6 mil)
Return on Equity (ROE): 3.25% ($0.5 mil)
Quarterly return on equity: -4.75% (-$0.7 mil)
Net income: $0.4 mil
Quarterly Net income: -$0.2 mil
Pretax return on assets: 0.79% ($658.2 mil)
Quarterly Pretax return on assets: -1.17% (-$974.9 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)24
Total assets$83,322
Cash and due from depository institutions$12,432
Interest-bearing balances$10,300
Securities$7,612
Federal funds sold & reverse repurchase agreements$10,389
Net loans & leases$50,382
Loan loss allowance $957
Trading account assets$0
Bank premises and fixed assets$1,402
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$1,105
Life insurance assets$83,322
Total liabilities and capital$69,151
Total liabilities$69,014
Total deposits$50,544
Interest-bearing deposits$69,014
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $137
All other liabilities $14,171
Total equity capital$14,171
Total bank equity capital$14,171
Perpetual preferred stock$0
Common stock$602
Surplus$3,398
Undivided profits $10,171
Memoranda
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 $1,050
Earning assets $0
Long-term assets (5+ years) $230
Average Assets, year-to-date $78,683
Average Assets, quarterly $3,050
Volatile liabilities $81,986
Insider loans $84,632
FHLB advances $51,947
Loans and leases held for sale $82,409
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $14,041
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,636
Derivatives$650
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,267
Total interest expense $317
Net interest income $2,950
Provision for loan and lease losses $675
Total noninterest income $636
Fiduciary activities $0
Service charges on deposit accounts $246
Trading account gains & fees $0
Additional noninterest income $390
Total noninterest expense $2,262
Salaries and employee benefits $1,249
Premises and equipment expense $336
Additional noninterest expense $677
Pre-tax net operating income $649
Securities gains (losses) $0
Applicable income taxes $216
Income before extraordinary items $433
Extraordinary gains - net $0
Net income attributable to bank $433
Net charge-offs $0
Cash dividends $433
Sale, conversion, retirement of capital stock, net $595
Net operating income $229
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.20%
Cost of funding earning assets 0.41%
Net interest margin 3.79%
Noninterest income to earning assets 0.82%
Noninterest expense to earning assets 2.91%
Net operating income to assets 0.53%
Return on assets (ROA) 0.53%
Pretax return on assets 0.79%
Return on equity (ROE) 3.25%
Retained earnings to average equity (YTD only) 1.53%
Net charge-offs to loans 1.12%
Credit loss provision to net charge-offs 113.45%
Efficiency ratio2.23%
Assets per employee$63,079
Cash dividends to net income (YTD only)3.47%
Condition Ratios (%)
Loss allowance to loans 52.89%
Loss allowance to noncurrent loans 1.86%
Noncurrent assets plus other real estate owned to assets 91.14%
Noncurrent loans to loans 1.26%
Net loans and leases to deposits2.05%
Net loans and leases to core deposits 73.00%
Equity capital to assets 74.10%
Core capital (leverage) ratio 17.01%
Tier 1 risk-based capital ratio 17.04%
Total risk-based capital ratio 27.03%
Memoranda
Average assets$28
Average earning assets$81,986
Average equity $13,337
Average loans $77,823
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2 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05199State Savings Bank, Frankfort, Mich.703 Main Street, Frankfort, MI 49635January 01, 1901Full Service Brick and Mortar
1362785Empire Branch11470 South Leelanau Highway, Empire, MI 49630December 17, 2001Full Service Brick and Mortar
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