The Miners State Bank in Iron River, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Miners State Bank - Overview

  • General
  • FDIC Certificate #: 10928
    Status: Active
    Federal Reserve ID: 255350
    Bank Holding Company (Regulatory Top Holder): Msb Bankshares, Inc. (RSSDID: 2962344, Location: Iron River, MI)
    Date Established: January 01, 1932
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 9864
    FDIC's unique #: 6999
    Numeric code: 21
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: August 07, 2009
    Last Structure Change Process Date: July 26, 2010
    Last Data Update: July 26, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 312 West Genesee Street, Iron River, MI 49935
    County: Iron
    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
  • Office Purchased
  • Financial Summary
  • Total assets: $128.5 mil
    Equity capital: $11.7 mil
    Deposits held in domestic offices: $115.8 mil
    Return on assets (ROA): 0.65% ($0.8 mil)
    Quarterly return on assets: 0.60% ($0.8 mil)
    Return on Equity (ROE): 7.65% ($0.9 mil)
    Quarterly return on equity: 6.74% ($0.8 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.65% ($835.2 mil)
    Quarterly Pretax return on assets: 0.60% ($770.9 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
  • 34Total employees (full-time equivalent)
  • $128,489Total assets
  • $5,872Cash and due from depository institutions
  • $35Interest-bearing balances
  • $34,706Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $79,257Net loans & leases
  • $923Loan loss allowance
  • $0Trading account assets
  • $3,660Bank premises and fixed assets
  • $870Other real estate owned
  • $647Goodwill and other intangibles
  • $128,489Life insurance assets
  • $3,477All other assets
  • $116,756Total liabilities and capital
  • $115,769Total liabilities
  • $101,285Total deposits
  • $115,769Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $987Subordinated debt
  • $11,733All other liabilities
  • $11,733Total equity capital
  • $11,733Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $9,569Surplus
  • $1,964Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $197Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $622Income earned, not collected on loans
  • $0Earning assets
  • $412Long-term assets (5+ years)
  • $113,998Average Assets, year-to-date
  • $42,777Average Assets, quarterly
  • $132,565Volatile liabilities
  • $131,922Insider loans
  • $88,433FHLB advances
  • $130,957Loans and leases held for sale
  • $2,217Unused loan commitments
  • $1,945Tier 1 (core) risk-based capital
  • $10,824Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $272Total unused commitments
  • $4,219Restructured Loans and leases
  • $1,277Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,253Total interest income
  • $1,146Total interest expense
  • $4,107Net interest income
  • $96Provision for loan and lease losses
  • $439Total noninterest income
  • $0Fiduciary activities
  • $233Service charges on deposit accounts
  • $0Trading account gains & fees
  • $206Additional noninterest income
  • $3,715Total noninterest expense
  • $1,641Salaries and employee benefits
  • $964Premises and equipment expense
  • $1,110Additional noninterest expense
  • $735Pre-tax net operating income
  • $132Securities gains (losses)
  • $0Applicable income taxes
  • $867Income before extraordinary items
  • $0Extraordinary gains - net
  • $867Net income attributable to bank
  • $0Net charge-offs
  • $867Cash dividends
  • $265Sale, conversion, retirement of capital stock, net
  • $740Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.43%Yield on earning assets
  • 0.97%Cost of funding earning assets
  • 3.47%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 3.14%Noninterest expense to earning assets
  • 0.55%Net operating income to assets
  • 0.65%Return on assets (ROA)
  • 0.65%Pretax return on assets
  • 7.65%Return on equity (ROE)
  • 1.12%Retained earnings to average equity (YTD only)
  • 0.33%Net charge-offs to loans
  • 36.23%Credit loss provision to net charge-offs
  • 3.14%Efficiency ratio
  • 79,828Assets per employee
  • 3.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 85.35%Loss allowance to loans
  • 1.15%Loss allowance to noncurrent loans
  • 148.39%Noncurrent assets plus other real estate owned to assets
  • 1.16%Noncurrent loans to loans
  • 0.78%Net loans and leases to deposits
  • 68.46%Net loans and leases to core deposits
  • 71.09%Equity capital to assets
  • 9.13%Core capital (leverage) ratio
  • 8.27%Tier 1 risk-based capital ratio
  • 12.24%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $132,565Average earning assets
  • $11,340Average equity
  • $118,500Average loans

List of branches

  • 6 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06999The Miners State Bank312 West Genesee Street, Iron River, MI 49935January 01, 1932Full Service Brick and Mortar
    1223103Riverside Plaza Branch833 Riverside Plaza, Iron River, MI 49935December 02, 1996Full Service Retail
    2423316Houghton Branch1203 Ridge Road, Houghton, MI 49931October 20, 2003Full Service Brick and Mortar
    4222680Ripley Branch49011 N Royce Rd, Hancock, MI 49930Febuary 22, 1983Full Service Brick and Mortar
    56759South Range Branch47 Trimountain Avenue, South Range, MI 49963January 01, 1903Full Service Brick and Mortar
    68500Ontonagon601 River Street, Ontonagon, MI 49953January 06, 1934Full Service Brick and Mortar

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