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


The First National Bank of Wakefield - Overview

  • General
  • FDIC Certificate #: 5076
    Status: Active
    Federal Reserve ID: 292850
    Bank Holding Company (Regulatory Top Holder): Wakefield Bancorporation, Inc. (RSSDID: 1128321, Location: Wakefield, MI)
    Date Established: January 01, 1910
    WWW: http://www.fnbwakefieldmi.com
    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: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 11326
    FDIC's unique #: 3390
    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: Yes
    Asset Concentration Hierarchy: All Other Specialization < 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: 401 Sunday Lake Street, Wakefield, MI 49968
    County: Gogebic
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $46.9 mil
    Equity capital: $4.9 mil
    Deposits held in domestic offices: $41.8 mil
    Return on assets (ROA): 0.87% ($0.4 mil)
    Quarterly return on assets: 0.41% ($0.2 mil)
    Return on Equity (ROE): 8.85% ($0.4 mil)
    Quarterly return on equity: 3.97% ($0.2 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.87% ($407.7 mil)
    Quarterly Pretax return on assets: 0.41% ($192.2 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
  • 18Total employees (full-time equivalent)
  • $46,866Total assets
  • $4,622Cash and due from depository institutions
  • $1,980Interest-bearing balances
  • $16,724Securities
  • $189Federal funds sold & reverse repurchase agreements
  • $23,449Net loans & leases
  • $341Loan loss allowance
  • $0Trading account assets
  • $808Bank premises and fixed assets
  • $533Other real estate owned
  • $0Goodwill and other intangibles
  • $46,866Life insurance assets
  • $541All other assets
  • $41,930Total liabilities and capital
  • $41,828Total liabilities
  • $34,278Total deposits
  • $41,828Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $102Subordinated debt
  • $4,936All other liabilities
  • $4,936Total equity capital
  • $4,936Total bank equity capital
  • $0Perpetual preferred stock
  • $49Common stock
  • $198Surplus
  • $4,689Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $821Income earned, not collected on loans
  • $0Earning assets
  • $223Long-term assets (5+ years)
  • $42,342Average Assets, year-to-date
  • $15,445Average Assets, quarterly
  • $48,717Volatile liabilities
  • $47,388Insider loans
  • $24,505FHLB advances
  • $47,689Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $4,724Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $49Restructured Loans and leases
  • $1,196Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,334Total interest income
  • $365Total interest expense
  • $1,969Net interest income
  • $106Provision for loan and lease losses
  • $170Total noninterest income
  • $0Fiduciary activities
  • $99Service charges on deposit accounts
  • $0Trading account gains & fees
  • $71Additional noninterest income
  • $1,618Total noninterest expense
  • $914Salaries and employee benefits
  • $293Premises and equipment expense
  • $411Additional noninterest expense
  • $415Pre-tax net operating income
  • $10Securities gains (losses)
  • $0Applicable income taxes
  • $425Income before extraordinary items
  • $0Extraordinary gains - net
  • $425Net income attributable to bank
  • $0Net charge-offs
  • $425Cash dividends
  • $110Sale, conversion, retirement of capital stock, net
  • $351Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.29%Yield on earning assets
  • 0.83%Cost of funding earning assets
  • 4.46%Net interest margin
  • 0.38%Noninterest income to earning assets
  • 3.66%Noninterest expense to earning assets
  • 0.85%Net operating income to assets
  • 0.87%Return on assets (ROA)
  • 0.87%Pretax return on assets
  • 8.85%Return on equity (ROE)
  • 1.54%Retained earnings to average equity (YTD only)
  • 0.45%Net charge-offs to loans
  • 96.36%Credit loss provision to net charge-offs
  • 4.74%Efficiency ratio
  • 75,643Assets per employee
  • 2.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 82.59%Loss allowance to loans
  • 1.43%Loss allowance to noncurrent loans
  • 41.53%Noncurrent assets plus other real estate owned to assets
  • 2.89%Noncurrent loans to loans
  • 3.45%Net loans and leases to deposits
  • 56.06%Net loans and leases to core deposits
  • 57.79%Equity capital to assets
  • 10.53%Core capital (leverage) ratio
  • 9.91%Tier 1 risk-based capital ratio
  • 19.28%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $48,717Average earning assets
  • $4,800Average equity
  • $44,157Average loans

List of branches

  • 2 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    03390The First National Bank Of Wakefield401 Sunday Lake Street, Wakefield, MI 49968January 01, 1910Full Service Brick and Mortar
    1356743Bessemer Branch1008 East Lead Street, Bessemer, MI 49911April 17, 2000Full Service Brick and Mortar

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