The Grant State Bank in Grant, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 07, 1996

The Grant State Bank in Grant, Michigan (MI)
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The Grant State Bank - Overview

General
FDIC Certificate #: 5895
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Valley Ridge Bank (#1592)
Federal Reserve ID: 665445
Date Established: August 09, 1906
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Interstate: No)
OTS Docket #: 12888
FDIC's unique #: 4021
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 07, 1996
Last Structure Change Process Date: January 22, 1997
Last Data Update: January 22, 1997
Data Source Date: April 05, 2012
Location
Address: 10 West Main Street, Grant, MI 49327
County: Newaygo
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
Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
Financial Summary
Total assets: $26.4 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$20Total assets
$28,733Cash and due from depository institutions
$2,669Interest-bearing balances
$10Securities
$3,023Federal funds sold & reverse repurchase agreements
$2,800Net loans & leases
$18,957Loan loss allowance
$225Trading account assets
$0Bank premises and fixed assets
$911Other real estate owned
$0Goodwill and other intangibles
$373Life insurance assets
$0All other assets
$0Total liabilities and capital
$28,733Total liabilities
$26,466Total deposits
$25,369Interest-bearing deposits
$20,876Deposits held in domestic offices
25369.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$800Subordinated debt
$0All other liabilities
$297Total equity capital
$297Total bank equity capital
$2,267Perpetual preferred stock
$0Common stock
$413Surplus
$812Undivided profits
Memoranda
$1,042Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$30Income earned, not collected on loans
$229Earning assets
$24,790Long-term assets (5+ years)
$206Average Assets, year-to-date
$26,143Average Assets, quarterly
$27,812Volatile liabilities
$2,144Insider loans
$421FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$2,214Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,260Total risk weighted assets
$19,661Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$2,249Total interest expense
$711Net interest income
$1,538Provision for loan and lease losses
$62Total noninterest income
$222Fiduciary activities
$0Service charges on deposit accounts
$159Trading account gains & fees
$0Additional noninterest income
$63Total noninterest expense
$1,080Salaries and employee benefits
$526Premises and equipment expense
$165Additional noninterest expense
$389Pre-tax net operating income
$618Securities gains (losses)
$1Applicable income taxes
$218Income before extraordinary items
$401Extraordinary gains - net
$0Net income attributable to bank
$401Net charge-offs
$16Cash dividends
$64Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
9.82%Cost of funding earning assets
3.10%Net interest margin
6.72%Noninterest income to earning assets
0.97%Noninterest expense to earning assets
4.72%Net operating income to assets
1.53%Return on assets (ROA)
1.53%Pretax return on assets
2.37%Return on equity (ROE)
19.22%Retained earnings to average equity (YTD only)
16.15%Net charge-offs to loans
0.09%Credit loss provision to net charge-offs
387.50%Efficiency ratio
61,364Assets per employee
1.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
15.96%Loss allowance to loans
1.17%Loss allowance to noncurrent loans
750.00%Noncurrent assets plus other real estate owned to assets
0.10%Noncurrent loans to loans
0.16%Net loans and leases to deposits
74.73%Net loans and leases to core deposits
78.91%Equity capital to assets
7.89%Core capital (leverage) ratio
8.28%Tier 1 risk-based capital ratio
11.50%Total risk-based capital ratio
Memoranda
$13Average assets
$26,143Average earning assets
$2,086Average equity
$22,899Average loans

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