Sturgis Bank & Trust Company in Sturgis, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Sturgis Bank & Trust Company - Overview

  • General
  • FDIC Certificate #: 28593
    Status: Active
    Federal Reserve ID: 366078
    Bank Holding Company (Regulatory Top Holder): Sturgis Bancorp, Inc. (RSSDID: 3051571, Location: Sturgis, MI)
    Date Established: January 01, 1905
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 1910
    FDIC's unique #: 41427
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: 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: March 20, 1950
    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: 119-125 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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $314.3 mil
    Equity capital: $29.0 mil
    Deposits held in domestic offices: $234.6 mil
    Return on assets (ROA): 0.16% ($0.5 mil)
    Quarterly return on assets: 0.68% ($2.1 mil)
    Return on Equity (ROE): 2.04% ($0.6 mil)
    Quarterly return on equity: 7.68% ($2.2 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 0.20% ($628.6 mil)
    Quarterly Pretax return on assets: 0.92% ($2,891.7 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
  • 130Total employees (full-time equivalent)
  • $314,319Total assets
  • $27,501Cash and due from depository institutions
  • $20,204Interest-bearing balances
  • $265Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $252,987Net loans & leases
  • $5,875Loan loss allowance
  • $0Trading account assets
  • $7,855Bank premises and fixed assets
  • $2,082Other real estate owned
  • $6,388Goodwill and other intangibles
  • $314,319Life insurance assets
  • $17,241All other assets
  • $285,294Total liabilities and capital
  • $234,641Total liabilities
  • $200,957Total deposits
  • $234,641Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $48,500Trading liabilities
  • $0Other borrowed funds
  • $2,153Subordinated debt
  • $29,025All other liabilities
  • $29,025Total equity capital
  • $29,025Total bank equity capital
  • $0Perpetual preferred stock
  • $3,360Common stock
  • $22,972Surplus
  • $2,693Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $986Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,870Income earned, not collected on loans
  • $0Earning assets
  • $941Long-term assets (5+ years)
  • $273,456Average Assets, year-to-date
  • $31,411Average Assets, quarterly
  • $352,713Volatile liabilities
  • $327,035Insider loans
  • $227,482FHLB advances
  • $316,594Loans and leases held for sale
  • $8,976Unused loan commitments
  • $5,204Tier 1 (core) risk-based capital
  • $25,439Tier 2 risk-based capital
  • $3,772Total risk weighted assets
  • $0Total unused commitments
  • $35,854Restructured Loans and leases
  • $3,042Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $13,948Total interest income
  • $3,867Total interest expense
  • $10,081Net interest income
  • $1,608Provision for loan and lease losses
  • $3,845Total noninterest income
  • $322Fiduciary activities
  • $972Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,551Additional noninterest income
  • $12,138Total noninterest expense
  • $6,374Salaries and employee benefits
  • $1,337Premises and equipment expense
  • $4,427Additional noninterest expense
  • $180Pre-tax net operating income
  • $536Securities gains (losses)
  • $141Applicable income taxes
  • $575Income before extraordinary items
  • $0Extraordinary gains - net
  • $575Net income attributable to bank
  • $0Net charge-offs
  • $575Cash dividends
  • $2,424Sale, conversion, retirement of capital stock, net
  • $920Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.58%Yield on earning assets
  • 1.27%Cost of funding earning assets
  • 3.31%Net interest margin
  • 1.26%Noninterest income to earning assets
  • 3.99%Noninterest expense to earning assets
  • 0.04%Net operating income to assets
  • 0.16%Return on assets (ROA)
  • 0.20%Pretax return on assets
  • 2.04%Return on equity (ROE)
  • -1.22%Retained earnings to average equity (YTD only)
  • 0.92%Net charge-offs to loans
  • 66.34%Credit loss provision to net charge-offs
  • 0.74%Efficiency ratio
  • 87,161Assets per employee
  • 2.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 160.00%Loss allowance to loans
  • 2.27%Loss allowance to noncurrent loans
  • 54.05%Noncurrent assets plus other real estate owned to assets
  • 4.12%Noncurrent loans to loans
  • 4.20%Net loans and leases to deposits
  • 107.82%Net loans and leases to core deposits
  • 116.32%Equity capital to assets
  • 9.23%Core capital (leverage) ratio
  • 8.04%Tier 1 risk-based capital ratio
  • 11.18%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $352,713Average earning assets
  • $28,180Average equity
  • $304,332Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $72,253Managed Assets
  • 1Number of Accounts
  • $34,084Personal trust and agency accounts
  • $19,435Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $3,629Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $8,113Other fiduciary accounts
  • $2,907Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 87Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $38,169Other retirement accounts
  • $0Corporate trust and agency accounts
  • $485Other fiduciary accounts
  • $27,271Fiduciary accounts held in foreign offices

List of branches

  • 11 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041427Sturgis Bank & Trust Company119-125 East Chicago Road, Sturgis, MI 49091January 01, 1905Full Service Brick and Mortar
    1268749White Pigeon Banking Center122 West Chicago Road, White Pigeon, MI 49099January 01, 1905Full Service Brick and Mortar
    101268750Colon Banking Center110 South Blackstone, Colon, MI 49040January 01, 1905Full Service Brick and Mortar
    103268751Three Rivers Banking Center115 North Main Street, Three Rivers, MI 49093June 30, 1988Full Service Brick and Mortar
    104263039Sturgis Banking Center1001 South Centerville, Sturgis, MI 49091January 31, 1989Limited Service Facility
    107268752Maplecrest Banking Center1501 East Chicago Road, Sturgis, MI 49091Febuary 03, 1997Limited Service Facility
    108268753Bronson Banking Center863 West Chicago, Bronson, MI 49028December 08, 1997Full Service Brick and Mortar
    110206725Centreville Banking Center158 West Main Street, Centreville, MI 49032September 01, 1959Full Service Brick and Mortar
    111206726Climax Banking Center125 North Main Street, Climax, MI 49034August 16, 1963Full Service Brick and Mortar
    113218099South Haven Banking Center1121 Lagrange Street, South Haven, MI 49090March 03, 1980Full Service Brick and Mortar
    116474032South Haven (Center Street) Branch365 Center Street, South Haven, MI 49090April 16, 2008Full Service Brick and Mortar

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