The First National Bank in Ontonagon in Ontonagon, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 04, 1997

  • The First National Bank in Ontonagon in Ontonagon, Michigan (MI)
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The First National Bank in Ontonagon - Overview

  • General
  • FDIC Certificate #: 13594
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: North Country Bank (#10556)
    Federal Reserve ID: 265555
    Date Established: January 06, 1934
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Interstate: No)
    FDIC's unique #: 8500
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: January 06, 1934
    Last Structure Change Effective Date: Febuary 04, 1997
    Last Structure Change Process Date: Febuary 25, 1997
    Last Data Update: Febuary 26, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 601 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
  • Financial Summary
  • Total assets: $27.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $17Total assets
  • $27,581Cash and due from depository institutions
  • $1,258Interest-bearing balances
  • $0Securities
  • $4,656Federal funds sold & reverse repurchase agreements
  • $615Net loans & leases
  • $20,099Loan loss allowance
  • $211Trading account assets
  • $0Bank premises and fixed assets
  • $697Other real estate owned
  • $36Goodwill and other intangibles
  • $220Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $27,581Total liabilities
  • $25,285Total deposits
  • $25,076Interest-bearing deposits
  • $21,687Deposits held in domestic offices
  • 25076.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $209Total equity capital
  • $209Total bank equity capital
  • $2,296Perpetual preferred stock
  • $0Common stock
  • $150Surplus
  • $575Undivided profits
  • Memoranda
  • $1,571Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $91Income earned, not collected on loans
  • $126Earning assets
  • $25,370Long-term assets (5+ years)
  • $6,299Average Assets, year-to-date
  • $27,375Average Assets, quarterly
  • $27,680Volatile liabilities
  • $449Insider loans
  • $280FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,327Total risk weighted assets
  • $18,837Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $2,239Total interest expense
  • $869Net interest income
  • $1,370Provision for loan and lease losses
  • $48Total noninterest income
  • $144Fiduciary activities
  • $0Service charges on deposit accounts
  • $97Trading account gains & fees
  • $0Additional noninterest income
  • $47Total noninterest expense
  • $1,025Salaries and employee benefits
  • $538Premises and equipment expense
  • $220Additional noninterest expense
  • $267Pre-tax net operating income
  • $441Securities gains (losses)
  • $10Applicable income taxes
  • $134Income before extraordinary items
  • $317Extraordinary gains - net
  • $0Net income attributable to bank
  • $317Net charge-offs
  • $39Cash dividends
  • $144Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.86%Cost of funding earning assets
  • 3.44%Net interest margin
  • 5.42%Noninterest income to earning assets
  • 0.57%Noninterest expense to earning assets
  • 4.06%Net operating income to assets
  • 1.13%Return on assets (ROA)
  • 1.16%Pretax return on assets
  • 1.65%Return on equity (ROE)
  • 14.68%Retained earnings to average equity (YTD only)
  • 8.01%Net charge-offs to loans
  • 0.20%Credit loss provision to net charge-offs
  • 123.08%Efficiency ratio
  • 67,701Assets per employee
  • 1.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 45.43%Loss allowance to loans
  • 1.04%Loss allowance to noncurrent loans
  • 231.87%Noncurrent assets plus other real estate owned to assets
  • 0.46%Noncurrent loans to loans
  • 0.45%Net loans and leases to deposits
  • 80.15%Net loans and leases to core deposits
  • 81.61%Equity capital to assets
  • 8.32%Core capital (leverage) ratio
  • 8.41%Tier 1 risk-based capital ratio
  • 12.35%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $27,375Average earning assets
  • $2,160Average equity
  • $25,274Average loans

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