The Bank of Northern Michigan in Petoskey, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Bank of Northern Michigan - Overview

  • General
  • FDIC 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
    WWW: http://www.tbonm.com
    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
  • Location
  • Address: 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 Summary
  • Total 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
  • 38Total employees (full-time equivalent)
  • $367,804Total assets
  • $6,581Cash and due from depository institutions
  • $2,484Interest-bearing balances
  • $73,827Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $269,375Net loans & leases
  • $4,575Loan loss allowance
  • $0Trading account assets
  • $6,121Bank premises and fixed assets
  • $1,350Other real estate owned
  • $0Goodwill and other intangibles
  • $367,804Life insurance assets
  • $10,550All other assets
  • $334,259Total liabilities and capital
  • $297,731Total liabilities
  • $290,319Total deposits
  • $297,731Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 19000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $16,000Trading liabilities
  • $0Other borrowed funds
  • $1,528Subordinated debt
  • $33,545All other liabilities
  • $33,179Total equity capital
  • $33,179Total bank equity capital
  • $0Perpetual preferred stock
  • $3,350Common stock
  • $19,884Surplus
  • $9,945Undivided profits
  • Memoranda
  • $366Noncurrent loans and leases
  • $2,957Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,601Income earned, not collected on loans
  • $0Earning assets
  • $1,095Long-term assets (5+ years)
  • $345,686Average Assets, year-to-date
  • $76,486Average Assets, quarterly
  • $367,211Volatile liabilities
  • $372,094Insider loans
  • $265,242FHLB advances
  • $367,883Loans and leases held for sale
  • $3,753Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $32,247Tier 2 risk-based capital
  • $3,753Total risk weighted assets
  • $0Total unused commitments
  • $61,099Restructured Loans and leases
  • $13,519Derivatives

Income and Expense (December 31, 2011)

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

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.00%Yield on earning assets
  • 1.52%Cost of funding earning assets
  • 3.48%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 2.41%Noninterest expense to earning assets
  • 0.72%Net operating income to assets
  • 0.76%Return on assets (ROA)
  • 0.87%Pretax return on assets
  • 8.81%Return on equity (ROE)
  • 4.09%Retained earnings to average equity (YTD only)
  • 0.54%Net charge-offs to loans
  • 137.36%Credit loss provision to net charge-offs
  • 3.46%Efficiency ratio
  • 61,728Assets per employee
  • 9.68%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 53.57%Loss allowance to loans
  • 1.67%Loss allowance to noncurrent loans
  • 81.68%Noncurrent assets plus other real estate owned to assets
  • 1.89%Noncurrent loans to loans
  • 2.04%Net loans and leases to deposits
  • 90.48%Net loans and leases to core deposits
  • 150.26%Equity capital to assets
  • 9.02%Core capital (leverage) ratio
  • 8.77%Tier 1 risk-based capital ratio
  • 12.16%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $367,211Average earning assets
  • $31,797Average equity
  • $336,634Average loans

List of branches

  • 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

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