State Savings Bank, Frankfort, Mich. in Frankfort, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

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

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 24Total employees (full-time equivalent)
  • $83,322Total assets
  • $12,432Cash and due from depository institutions
  • $10,300Interest-bearing balances
  • $7,612Securities
  • $10,389Federal funds sold & reverse repurchase agreements
  • $50,382Net loans & leases
  • $957Loan loss allowance
  • $0Trading account assets
  • $1,402Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $83,322Life insurance assets
  • $1,105All other assets
  • $69,151Total liabilities and capital
  • $69,014Total liabilities
  • $50,544Total deposits
  • $69,014Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $137Subordinated debt
  • $14,171All other liabilities
  • $14,171Total equity capital
  • $14,171Total bank equity capital
  • $0Perpetual preferred stock
  • $602Common stock
  • $3,398Surplus
  • $10,171Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,050Income earned, not collected on loans
  • $0Earning assets
  • $230Long-term assets (5+ years)
  • $78,683Average Assets, year-to-date
  • $3,050Average Assets, quarterly
  • $81,986Volatile liabilities
  • $84,632Insider loans
  • $51,947FHLB advances
  • $82,409Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,041Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,636Restructured Loans and leases
  • $650Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,267Total interest income
  • $317Total interest expense
  • $2,950Net interest income
  • $675Provision for loan and lease losses
  • $636Total noninterest income
  • $0Fiduciary activities
  • $246Service charges on deposit accounts
  • $0Trading account gains & fees
  • $390Additional noninterest income
  • $2,262Total noninterest expense
  • $1,249Salaries and employee benefits
  • $336Premises and equipment expense
  • $677Additional noninterest expense
  • $649Pre-tax net operating income
  • $0Securities gains (losses)
  • $216Applicable income taxes
  • $433Income before extraordinary items
  • $0Extraordinary gains - net
  • $433Net income attributable to bank
  • $0Net charge-offs
  • $433Cash dividends
  • $595Sale, conversion, retirement of capital stock, net
  • $229Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.20%Yield on earning assets
  • 0.41%Cost of funding earning assets
  • 3.79%Net interest margin
  • 0.82%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • 0.53%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.79%Pretax return on assets
  • 3.25%Return on equity (ROE)
  • 1.53%Retained earnings to average equity (YTD only)
  • 1.12%Net charge-offs to loans
  • 113.45%Credit loss provision to net charge-offs
  • 2.23%Efficiency ratio
  • 63,079Assets per employee
  • 3.47%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 52.89%Loss allowance to loans
  • 1.86%Loss allowance to noncurrent loans
  • 91.14%Noncurrent assets plus other real estate owned to assets
  • 1.26%Noncurrent loans to loans
  • 2.05%Net loans and leases to deposits
  • 73.00%Net loans and leases to core deposits
  • 74.10%Equity capital to assets
  • 17.01%Core capital (leverage) ratio
  • 17.04%Tier 1 risk-based capital ratio
  • 27.03%Total risk-based capital ratio
  • Memoranda
  • $28Average assets
  • $81,986Average earning assets
  • $13,337Average equity
  • $77,823Average loans

List of branches

  • 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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