The Bank of Northern Michigan in Petoskey, Michigan (MI)

Show street view No street view available for this location

The Bank of Northern Michigan routing number info

Table of contents:
The Bank of Northern Michigan
GeneralFDIC Certificate #: 35324
Status: Active
Federal Reserve ID: 2843724
Bank Holding Company (Regulatory Top Holder): Lake Michigan Financial Corporation (RSSDID: 2721112, Location: Holland, MI)
Date Established: January 18, 2000
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 78230
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 18, 2000
Last Structure Change Effective Date: January 01, 2010
Last Structure Change Process Date: January 13, 2010
Last Data Update: January 13, 2010
Data Source Date: April 05, 2012
LocationAddress: 406 Bay Street, Petoskey, MI 49770
County: Emmet
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
Financial SummaryTotal assets: $367.8 mil
Equity capital: $33.2 mil
Deposits held in domestic offices: $297.7 mil
Return on assets (ROA): 0.76% ($2.8 mil)
Quarterly return on assets: 0.95% ($3.5 mil)
Return on Equity (ROE): 8.81% ($2.9 mil)
Quarterly return on equity: 10.76% ($3.6 mil)
Net income: $2.8 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 0.87% ($3,199.9 mil)
Quarterly Pretax return on assets: 0.64% ($2,353.9 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)38
Total assets$367,804
Cash and due from depository institutions$6,581
Interest-bearing balances$2,484
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$269,375
Loan loss allowance $4,575
Trading account assets$0
Bank premises and fixed assets$6,121
Other real estate owned$1,350
Goodwill and other intangibles$0
All other assets$10,550
Life insurance assets$367,804
Total liabilities and capital$334,259
Total liabilities$297,731
Total deposits$290,319
Interest-bearing deposits$297,731
Deposits held in domestic offices$79
% insured (estimated)19000.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$16,000
Other borrowed funds $0
Subordinated debt $1,528
All other liabilities $33,545
Total equity capital$33,179
Total bank equity capital$33,179
Perpetual preferred stock$0
Common stock$3,350
Undivided profits $9,945
Noncurrent loans and leases $366
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,957
Income earned, not collected on loans $5,601
Earning assets $0
Long-term assets (5+ years) $1,095
Average Assets, year-to-date $345,686
Average Assets, quarterly $76,486
Volatile liabilities $367,211
Insider loans $372,094
FHLB advances $265,242
Loans and leases held for sale $367,883
Unused loan commitments $3,753
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $32,247
Total risk weighted assets $3,753
Total unused commitments $0
Restructured Loans and leases $61,099
Back to page top, Back to table top

Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,822
Total interest expense $5,120
Net interest income $11,702
Provision for loan and lease losses $2,000
Total noninterest income $1,454
Fiduciary activities $0
Service charges on deposit accounts $249
Trading account gains & fees $0
Additional noninterest income $1,205
Total noninterest expense $8,121
Salaries and employee benefits $3,160
Premises and equipment expense $1,343
Additional noninterest expense $3,618
Pre-tax net operating income $3,035
Securities gains (losses) $193
Applicable income taxes $405
Income before extraordinary items $2,823
Extraordinary gains - net $0
Net income attributable to bank $2,800
Net charge-offs $23
Cash dividends $2,823
Sale, conversion, retirement of capital stock, net $1,456
Net operating income $1,500
Back to page top, Back to table top

Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.00%
Cost of funding earning assets 1.52%
Net interest margin 3.48%
Noninterest income to earning assets 0.43%
Noninterest expense to earning assets 2.41%
Net operating income to assets 0.72%
Return on assets (ROA) 0.76%
Pretax return on assets 0.87%
Return on equity (ROE) 8.81%
Retained earnings to average equity (YTD only) 4.09%
Net charge-offs to loans 0.54%
Credit loss provision to net charge-offs 137.36%
Efficiency ratio3.46%
Assets per employee$61,728
Cash dividends to net income (YTD only)9.68%
Condition Ratios (%)
Loss allowance to loans 53.57%
Loss allowance to noncurrent loans 1.67%
Noncurrent assets plus other real estate owned to assets 81.68%
Noncurrent loans to loans 1.89%
Net loans and leases to deposits2.04%
Net loans and leases to core deposits 90.48%
Equity capital to assets 150.26%
Core capital (leverage) ratio 9.02%
Tier 1 risk-based capital ratio 8.77%
Total risk-based capital ratio 12.16%
Average assets$13
Average earning assets$367,211
Average equity $31,797
Average loans $336,634
Back to page top, Back to table top

3 Michigan Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
078230The Bank Of Northern Michigan406 Bay Street, Petoskey, MI 49770January 18, 2000Full Service Brick and Mortar
3465787Messenger Service406 Bay Street, Petoskey, MI 49770July 05, 2007Limited Service Messenger
4469748Traverse City Branch130 South Union, Traverse City, MI 49684December 10, 2007Full Service Brick and Mortar
Back to page top

User Contributions:

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 Bank of Northern Michigan.
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.