The Algonac Savings Bank in Algonac, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 10, 1997

  • The Algonac Savings Bank in Algonac, Michigan (MI)
  • Show street view No street view available for this location

The Algonac Savings Bank - Overview

  • General
  • FDIC Certificate #: 14440
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fifth Third Bank (#993)
    Federal Reserve ID: 449346
    Date Established: April 17, 1912
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    FDIC's unique #: 9024
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 04, 1934
    Last Structure Change Effective Date: May 10, 1997
    Last Structure Change Process Date: June 05, 1997
    Last Data Update: June 05, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 1117 St. Clair River Drive, Algonac, MI 48001
    County: St. Clair
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Detroit
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Detroit, MI (#2160)
    Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
    Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
    Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820)
    CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820)
    Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
  • Financial Summary
  • Total assets: $124.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $64Total assets
  • $123,498Cash and due from depository institutions
  • $3,971Interest-bearing balances
  • $0Securities
  • $40,275Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $76,969Loan loss allowance
  • $936Trading account assets
  • $0Bank premises and fixed assets
  • $1,294Other real estate owned
  • $0Goodwill and other intangibles
  • $989Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $123,498Total liabilities
  • $108,249Total deposits
  • $107,543Interest-bearing deposits
  • $95,932Deposits held in domestic offices
  • 107543.00%% insured (estimated)
  • $88Federal funds purchased & repurchase agreements
  • $31Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $675Total equity capital
  • $675Total bank equity capital
  • $15,249Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $6,000Undivided profits
  • Memoranda
  • $7,249Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $525Income earned, not collected on loans
  • $415Earning assets
  • $117,244Long-term assets (5+ years)
  • $21,632Average Assets, year-to-date
  • $122,177Average Assets, quarterly
  • $124,702Volatile liabilities
  • $8,207Insider loans
  • $7,248FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $10,573Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $15,196Total risk weighted assets
  • $70,074Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $9,388Total interest expense
  • $3,630Net interest income
  • $5,758Provision for loan and lease losses
  • $199Total noninterest income
  • $867Fiduciary activities
  • $0Service charges on deposit accounts
  • $451Trading account gains & fees
  • $0Additional noninterest income
  • $416Total noninterest expense
  • $3,471Salaries and employee benefits
  • $1,883Premises and equipment expense
  • $400Additional noninterest expense
  • $1,188Pre-tax net operating income
  • $2,955Securities gains (losses)
  • $4Applicable income taxes
  • $770Income before extraordinary items
  • $2,189Extraordinary gains - net
  • $0Net income attributable to bank
  • $2,189Net charge-offs
  • $61Cash dividends
  • $1,240Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.13%Cost of funding earning assets
  • 3.14%Net interest margin
  • 4.98%Noninterest income to earning assets
  • 0.75%Noninterest expense to earning assets
  • 3.00%Net operating income to assets
  • 1.79%Return on assets (ROA)
  • 1.79%Pretax return on assets
  • 2.42%Return on equity (ROE)
  • 14.82%Retained earnings to average equity (YTD only)
  • 6.43%Net charge-offs to loans
  • 0.08%Credit loss provision to net charge-offs
  • 326.23%Efficiency ratio
  • 52,392Assets per employee
  • 1.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 56.65%Loss allowance to loans
  • 1.20%Loss allowance to noncurrent loans
  • 178.29%Noncurrent assets plus other real estate owned to assets
  • 0.43%Noncurrent loans to loans
  • 0.67%Net loans and leases to deposits
  • 71.57%Net loans and leases to core deposits
  • 77.46%Equity capital to assets
  • 12.35%Core capital (leverage) ratio
  • 12.24%Tier 1 risk-based capital ratio
  • 21.69%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $122,177Average earning assets
  • $14,770Average equity
  • $115,516Average loans

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with The Algonac Savings Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents