Superior National Bank & Trust Company in Hancock, Michigan (MI)

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Superior National Bank & Trust Company
GeneralFDIC Certificate #: 5058
Status: Active
Federal Reserve ID: 245557
Bank Holding Company (Regulatory Top Holder): Keweenaw Financial Corporation (RSSDID: 1495854, Location: Hancock, MI)
Date Established: March 06, 1890
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 10 (Domestic: 10, Interstate: No)
OTS Docket #: 14240
FDIC's unique #: 3377
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 01, 2009
Last Structure Change Process Date: March 03, 2009
Last Data Update: March 03, 2009
Data Source Date: April 05, 2012
LocationAddress: 235 Quincy Street, Hancock, MI 49930
County: Houghton
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Appleton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Houghton, MI (#26340)
CBSA Micro Statistical Area: Yes
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $511.7 mil
Equity capital: $57.7 mil
Deposits held in domestic offices: $439.5 mil
Return on assets (ROA): 1.12% ($5.7 mil)
Quarterly return on assets: 1.19% ($6.1 mil)
Return on Equity (ROE): 10.14% ($5.9 mil)
Quarterly return on equity: 10.62% ($6.2 mil)
Net income: $5.5 mil
Quarterly Net income: $1.5 mil
Pretax return on assets: 1.58% ($8,084.4 mil)
Quarterly Pretax return on assets: 1.63% ($8,340.3 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)112
Total assets$511,672
Cash and due from depository institutions$17,967
Interest-bearing balances$1,062
Federal funds sold & reverse repurchase agreements$57
Net loans & leases$285,687
Loan loss allowance $4,518
Trading account assets$0
Bank premises and fixed assets$7,608
Other real estate owned$2,171
Goodwill and other intangibles$169
All other assets$5,729
Life insurance assets$511,672
Total liabilities and capital$453,958
Total liabilities$439,512
Total deposits$390,816
Interest-bearing deposits$439,512
Deposits held in domestic offices$93
% insured (estimated)10461.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $3,985
All other liabilities $57,714
Total equity capital$57,714
Total bank equity capital$57,714
Perpetual preferred stock$0
Common stock$600
Undivided profits $52,117
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $428
Income earned, not collected on loans $8,335
Earning assets $0
Long-term assets (5+ years) $2,346
Average Assets, year-to-date $479,090
Average Assets, quarterly $201,404
Volatile liabilities $488,296
Insider loans $510,087
FHLB advances $284,518
Loans and leases held for sale $504,262
Unused loan commitments $373
Tier 1 (core) risk-based capital $373
Tier 2 risk-based capital $53,846
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $25,752
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $22,496
Total interest expense $6,498
Net interest income $15,998
Provision for loan and lease losses $1,340
Total noninterest income $3,145
Fiduciary activities $972
Service charges on deposit accounts $1,019
Trading account gains & fees $0
Additional noninterest income $1,154
Total noninterest expense $10,970
Salaries and employee benefits $6,215
Premises and equipment expense $1,389
Additional noninterest expense $3,366
Pre-tax net operating income $6,833
Securities gains (losses) $901
Applicable income taxes $2,250
Income before extraordinary items $5,484
Extraordinary gains - net $0
Net income attributable to bank $5,484
Net charge-offs $0
Cash dividends $5,484
Sale, conversion, retirement of capital stock, net $1,135
Net operating income $1,675
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.98%
Cost of funding earning assets 1.44%
Net interest margin 3.54%
Noninterest income to earning assets 0.70%
Noninterest expense to earning assets 2.43%
Net operating income to assets 0.99%
Return on assets (ROA) 1.12%
Pretax return on assets 1.58%
Return on equity (ROE) 10.14%
Retained earnings to average equity (YTD only) 7.04%
Net charge-offs to loans 0.39%
Credit loss provision to net charge-offs 118.06%
Efficiency ratio7.20%
Assets per employee$57,306
Cash dividends to net income (YTD only)4.57%
Condition Ratios (%)
Loss allowance to loans 30.54%
Loss allowance to noncurrent loans 1.56%
Noncurrent assets plus other real estate owned to assets 54.21%
Noncurrent loans to loans 2.05%
Net loans and leases to deposits2.87%
Net loans and leases to core deposits 65.00%
Equity capital to assets 68.59%
Core capital (leverage) ratio 11.28%
Tier 1 risk-based capital ratio 10.68%
Total risk-based capital ratio 18.93%
Average assets$20
Average earning assets$488,296
Average equity $54,071
Average loans $451,798
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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$349,379
Number of Accounts1
Personal trust and agency accounts$349,351
Employee benefit-defined contribution accounts$8,163
Employee benefit-defined benefit accounts$7,152
Other retirement accounts$0
Corporate trust and agency accounts$14,050
Investment management agency accounts$0
Other fiduciary accounts$128,513
Fiduciary accounts held in foreign offices$0
Non-managed Assets$191,473
Number of Accounts291
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$14,050
Employee benefit-defined benefit accounts$0
Other retirement accounts$28
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$28
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10 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03377Superior National Bank & Trust Compa235 Quincy Street, Hancock, MI 49930March 06, 1890Full Service Brick and Mortar
1207038Baraga Branch201 Superior Avenue, Baraga, MI 49908Febuary 10, 1966Full Service Brick and Mortar
2207039Lake Linden Branch53115 State Highway M26, Lake Linden, MI 49945June 01, 1976Full Service Retail
3207040Ridgecrest Plaza Branch960 Razorback Drive Suite # 1, Houghton, MI 49931August 25, 1980Full Service Brick and Mortar
4207041Econo Foods Branch1000 West Sharon Avenue, Houghton, MI 49931January 21, 1994Full Service Retail
5207042Hancock Drive-Thru Branch229 Franklin Street, Hancock, MI 49930October 24, 1994Limited Service Facility
6207043Calumet Branch56788 Station Drive, Calumet, MI 49913November 29, 1995Full Service Brick and Mortar
7361340Mohawk Branch80 Mohawk St, Mohawk, MI 49950August 01, 2000Full Service Brick and Mortar
9427141Chassell Branch41950 Wilson Memorial Drive, Chassell, MI 49916March 01, 2004Full Service Brick and Mortar
106754Lanse Branch1 East Broad Street, L'anse, MI 49946July 17, 1912Full Service Brick and Mortar
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