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- Banks in Michigan (MI)
- The Farwell State Savings Bank
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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- Banks in Michigan (MI)
- The Farwell State Savings Bank
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