The First National Bank of St. Ignace in St. Ignace, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

The First National Bank of St. Ignace - Overview

  • General
  • FDIC Certificate #: 5074
    Status: Active
    Federal Reserve ID: 381950
    Date Established: May 17, 1888
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 11319
    FDIC's unique #: 3388
    Numeric code: 3
    Regulator: OCC
    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: No
    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: 132 North State Street, St. Ignace, MI 49781
    County: Mackinac
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $227.7 mil
    Equity capital: $23.6 mil
    Deposits held in domestic offices: $200.9 mil
    Return on assets (ROA): 0.72% ($1.6 mil)
    Quarterly return on assets: 0.91% ($2.1 mil)
    Return on Equity (ROE): 7.00% ($1.7 mil)
    Quarterly return on equity: 8.91% ($2.1 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.81% ($1,844.2 mil)
    Quarterly Pretax return on assets: 0.85% ($1,935.3 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
  • 60Total employees (full-time equivalent)
  • $227,678Total assets
  • $19,521Cash and due from depository institutions
  • $11,091Interest-bearing balances
  • $108,069Securities
  • $9,200Federal funds sold & reverse repurchase agreements
  • $79,422Net loans & leases
  • $1,255Loan loss allowance
  • $0Trading account assets
  • $1,488Bank premises and fixed assets
  • $3,380Other real estate owned
  • $337Goodwill and other intangibles
  • $227,678Life insurance assets
  • $6,261All other assets
  • $204,121Total liabilities and capital
  • $200,855Total liabilities
  • $171,867Total deposits
  • $200,855Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,266Subordinated debt
  • $23,557All other liabilities
  • $23,557Total equity capital
  • $23,557Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $1,000Surplus
  • $21,557Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,064Income earned, not collected on loans
  • $29Earning assets
  • $1,614Long-term assets (5+ years)
  • $207,782Average Assets, year-to-date
  • $46,237Average Assets, quarterly
  • $222,654Volatile liabilities
  • $231,929Insider loans
  • $122,007FHLB advances
  • $228,443Loans and leases held for sale
  • $1,690Unused loan commitments
  • $1,690Tier 1 (core) risk-based capital
  • $22,002Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,277Restructured Loans and leases
  • $2,982Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,663Total interest income
  • $2,189Total interest expense
  • $6,474Net interest income
  • $120Provision for loan and lease losses
  • $1,108Total noninterest income
  • $0Fiduciary activities
  • $81Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,027Additional noninterest income
  • $5,829Total noninterest expense
  • $2,989Salaries and employee benefits
  • $456Premises and equipment expense
  • $2,384Additional noninterest expense
  • $1,633Pre-tax net operating income
  • $178Securities gains (losses)
  • $209Applicable income taxes
  • $1,602Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,602Net income attributable to bank
  • $0Net charge-offs
  • $1,602Cash dividends
  • $100Sale, conversion, retirement of capital stock, net
  • $656Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.30%Yield on earning assets
  • 1.09%Cost of funding earning assets
  • 3.21%Net interest margin
  • 0.55%Noninterest income to earning assets
  • 2.89%Noninterest expense to earning assets
  • 0.65%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 0.81%Pretax return on assets
  • 7.00%Return on equity (ROE)
  • 4.14%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 120.00%Credit loss provision to net charge-offs
  • 17.53%Efficiency ratio
  • 76,879Assets per employee
  • 3.79%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.95%Loss allowance to loans
  • 1.56%Loss allowance to noncurrent loans
  • 60.80%Noncurrent assets plus other real estate owned to assets
  • 2.39%Noncurrent loans to loans
  • 2.56%Net loans and leases to deposits
  • 39.54%Net loans and leases to core deposits
  • 41.24%Equity capital to assets
  • 10.35%Core capital (leverage) ratio
  • 9.63%Tier 1 risk-based capital ratio
  • 18.03%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $222,654Average earning assets
  • $22,875Average equity
  • $201,519Average loans

List of branches

  • 7 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    03388The First National Bank Of St. Ignac132 North State Street, St. Ignace, MI 49781May 17, 1888Full Service Brick and Mortar
    1207086Cedarville Branch192 South Meridian Street, Cedarville, MI 49719July 01, 1958Full Service Brick and Mortar
    2207087Mackinac Island Branch7399 Market Street, Mackinac Island, MI 49757June 30, 1966Full Service Brick and Mortar
    3207088West Mackinac BranchW11635 Us Highway 2, Naubinway, MI 49762July 01, 1970Full Service Brick and Mortar
    4207089North Bay Branch580 North State Street, St. Ignace, MI 49781October 28, 1974Full Service Brick and Mortar
    6207091Newberry Branch1014 Newberry Avenue, Newberry, MI 49868March 15, 1995Full Service Brick and Mortar
    7360534Moran Township Branch920 West Us-2, Saint Ignace, MI 49781May 30, 2001Full Service Brick and Mortar

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