The Citizens State Bank of Ontonagon in Ontonagon, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Citizens State Bank of Ontonagon - Overview

  • General
  • FDIC Certificate #: 8183
    Status: Active
    Federal Reserve ID: 356752
    Bank Holding Company (Regulatory Top Holder): Citizens Bancshares, Inc. (RSSDID: 1129047, Location: Ontonagon, MI)
    Date Established: December 06, 1910
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 5209
    Numeric code: 13
    Regulator: FED
    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: Other Specialized Lending < 1 Billion
    Date of Deposit Insurance: January 01, 1934
    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: 501 River Street, Ontonagon, MI 49953
    County: Ontonagon
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $51.8 mil
    Equity capital: $8.3 mil
    Deposits held in domestic offices: $43.5 mil
    Return on assets (ROA): 0.22% ($0.1 mil)
    Quarterly return on assets: 0.77% ($0.4 mil)
    Return on Equity (ROE): 1.38% ($0.1 mil)
    Quarterly return on equity: 4.96% ($0.4 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.15% ($77.7 mil)
    Quarterly Pretax return on assets: 0.49% ($253.9 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
  • 18Total employees (full-time equivalent)
  • $51,822Total assets
  • $7,279Cash and due from depository institutions
  • $0Interest-bearing balances
  • $24,363Securities
  • $1,508Federal funds sold & reverse repurchase agreements
  • $17,038Net loans & leases
  • $431Loan loss allowance
  • $0Trading account assets
  • $449Bank premises and fixed assets
  • $756Other real estate owned
  • $0Goodwill and other intangibles
  • $51,822Life insurance assets
  • $429All other assets
  • $43,567Total liabilities and capital
  • $43,473Total liabilities
  • $35,427Total deposits
  • $43,473Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $94Subordinated debt
  • $8,255All other liabilities
  • $8,255Total equity capital
  • $8,255Total bank equity capital
  • $0Perpetual preferred stock
  • $350Common stock
  • $1,750Surplus
  • $6,155Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $385Income earned, not collected on loans
  • $0Earning assets
  • $188Long-term assets (5+ years)
  • $42,909Average Assets, year-to-date
  • $18,930Average Assets, quarterly
  • $52,623Volatile liabilities
  • $52,956Insider loans
  • $22,101FHLB advances
  • $53,726Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,891Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $0Restructured Loans and leases
  • $1Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,899Total interest income
  • $161Total interest expense
  • $1,738Net interest income
  • $16Provision for loan and lease losses
  • $119Total noninterest income
  • $0Fiduciary activities
  • $80Service charges on deposit accounts
  • $0Trading account gains & fees
  • $39Additional noninterest income
  • $1,763Total noninterest expense
  • $939Salaries and employee benefits
  • $190Premises and equipment expense
  • $634Additional noninterest expense
  • $78Pre-tax net operating income
  • $0Securities gains (losses)
  • -$37Applicable income taxes
  • $115Income before extraordinary items
  • $0Extraordinary gains - net
  • $115Net income attributable to bank
  • $0Net charge-offs
  • $115Cash dividends
  • $15Sale, conversion, retirement of capital stock, net
  • $452Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.41%Yield on earning assets
  • 0.37%Cost of funding earning assets
  • 4.04%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 4.10%Noninterest expense to earning assets
  • 0.22%Net operating income to assets
  • 0.22%Return on assets (ROA)
  • 0.15%Pretax return on assets
  • 1.38%Return on equity (ROE)
  • -4.05%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 106.67%Credit loss provision to net charge-offs
  • 6.27%Efficiency ratio
  • 94,938Assets per employee
  • 2.88%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 393.04%Loss allowance to loans
  • 2.47%Loss allowance to noncurrent loans
  • 111.95%Noncurrent assets plus other real estate owned to assets
  • 2.20%Noncurrent loans to loans
  • 2.20%Net loans and leases to deposits
  • 39.19%Net loans and leases to core deposits
  • 39.82%Equity capital to assets
  • 15.93%Core capital (leverage) ratio
  • 14.69%Tier 1 risk-based capital ratio
  • 35.70%Total risk-based capital ratio
  • Memoranda
  • $37Average assets
  • $52,623Average earning assets
  • $8,330Average equity
  • $43,049Average loans

List of branches

  • 3 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05209The Citizens State Bank Of Ontonagon501 River Street, Ontonagon, MI 49953December 06, 1910Full Service Brick and Mortar
    1218111Mass BranchAdventure Avenue, Mass, MI 49948Febuary 01, 1961Full Service Brick and Mortar
    2218112White Pine BranchMineral River Plaza, White Pine, MI 49971November 16, 1961Full Service Brick and Mortar

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