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

This bank is inactive as of October 03, 2006

The Farwell State Savings Bank in Farwell, Michigan (MI)
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The Farwell State Savings Bank - Overview

General
FDIC Certificate #: 8174
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: FSB Bank (#9716)
Federal Reserve ID: 220040
Date Established: September 19, 1919
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 5204
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 03, 2006
Last Structure Change Process Date: October 25, 2006
Last Data Update: October 25, 2006
Data Source Date: April 05, 2012
Location
Address: 399 West Main Street, Farwell, MI 48622
County: Clare
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: $88.1 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, 2005)

Dollar figures in thousands
21Total employees (full-time equivalent)
$89,157Total assets
$1,660Cash and due from depository institutions
$0Interest-bearing balances
$17,923Securities
$3,197Federal funds sold & reverse repurchase agreements
$63,475Net loans & leases
$772Loan loss allowance
$0Trading account assets
$328Bank premises and fixed assets
$160Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,414All other assets
$89,157Total liabilities and capital
$75,637Total liabilities
$74,381Total deposits
$64,741Interest-bearing deposits
$74,381Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,256All other liabilities
$13,520Total equity capital
$13,520Total bank equity capital
$13,520Perpetual preferred stock
$0Common stock
$2,625Surplus
$2,625Undivided profits
Memoranda
$8,270Noncurrent loans and leases
$1,213Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$796Earning assets
$0Long-term assets (5+ years)
$425Average Assets, year-to-date
$84,595Average Assets, quarterly
$1,049Volatile liabilities
$90,712Insider loans
$90,045FHLB advances
$10,720Loans and leases held for sale
$255Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,213Total unused commitments
$0Restructured Loans and leases
$598Derivatives

Income and Expense (December 31, 2005)

Dollar figures in thousands
$4,909Total interest income
$1,447Total interest expense
$3,462Net interest income
$0Provision for loan and lease losses
$357Total noninterest income
$0Fiduciary activities
$209Service charges on deposit accounts
$0Trading account gains & fees
$148Additional noninterest income
$1,651Total noninterest expense
$930Salaries and employee benefits
$122Premises and equipment expense
$599Additional noninterest expense
$2,168Pre-tax net operating income
$0Securities gains (losses)
$656Applicable income taxes
$1,512Income before extraordinary items
$0Extraordinary gains - net
$1,512Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$44Sale, conversion, retirement of capital stock, net
$2,888Net operating income

Performance and Condition Ratios (December 31, 2005)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.70%Yield on earning assets
1.68%Cost of funding earning assets
4.02%Net interest margin
0.41%Noninterest income to earning assets
1.92%Noninterest expense to earning assets
1.67%Net operating income to assets
1.67%Return on assets (ROA)
2.39%Pretax return on assets
10.69%Return on equity (ROE)
-9.73%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
49.27%Efficiency ratio
43,231Assets per employee
4.25%Cash dividends to net income (YTD only)
Condition Ratios (%)
191.01%Loss allowance to loans
1.20%Loss allowance to noncurrent loans
96.98%Noncurrent assets plus other real estate owned to assets
1.07%Noncurrent loans to loans
1.24%Net loans and leases to deposits
85.34%Net loans and leases to core deposits
99.71%Equity capital to assets
15.16%Core capital (leverage) ratio
15.08%Tier 1 risk-based capital ratio
28.55%Total risk-based capital ratio
Memoranda
$30Average assets
$90,712Average earning assets
$14,139Average equity
$86,095Average loans

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