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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