The Peninsula Bank of Ishpeming in Ishpeming, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Peninsula Bank of Ishpeming - Overview

  • General
  • FDIC Certificate #: 11401
    Status: Active
    Federal Reserve ID: 258351
    Bank Holding Company (Regulatory Top Holder): Peninsula Financial Corporation (RSSDID: 1139121, Location: Ishpeming, MI)
    Date Established: October 27, 1887
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 9667
    FDIC's unique #: 7278
    Numeric code: 13
    Regulator: FED
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    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: 100 South Main Street, Ishpeming, MI 49849
    County: Marquette
    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
    Core Based Statistical Area (CBSA): Marquette, MI (#32100)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $137.3 mil
    Equity capital: $16.7 mil
    Deposits held in domestic offices: $115.7 mil
    Return on assets (ROA): 0.38% ($0.5 mil)
    Quarterly return on assets: 0.54% ($0.7 mil)
    Return on Equity (ROE): 3.15% ($0.5 mil)
    Quarterly return on equity: 4.53% ($0.8 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.55% ($755.2 mil)
    Quarterly Pretax return on assets: 0.73% ($1,002.4 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
  • 46Total employees (full-time equivalent)
  • $137,313Total assets
  • $17,753Cash and due from depository institutions
  • $282Interest-bearing balances
  • $14,114Securities
  • $6,650Federal funds sold & reverse repurchase agreements
  • $92,901Net loans & leases
  • $2,005Loan loss allowance
  • $0Trading account assets
  • $973Bank premises and fixed assets
  • $498Other real estate owned
  • $0Goodwill and other intangibles
  • $137,313Life insurance assets
  • $4,424All other assets
  • $120,592Total liabilities and capital
  • $115,742Total liabilities
  • $104,535Total deposits
  • $115,742Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,043Trading liabilities
  • $0Other borrowed funds
  • $2,807Subordinated debt
  • $16,721All other liabilities
  • $16,721Total equity capital
  • $16,721Total bank equity capital
  • $0Perpetual preferred stock
  • $450Common stock
  • $3,550Surplus
  • $12,721Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $434Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,403Income earned, not collected on loans
  • $0Earning assets
  • $397Long-term assets (5+ years)
  • $113,947Average Assets, year-to-date
  • $14,479Average Assets, quarterly
  • $138,708Volatile liabilities
  • $139,273Insider loans
  • $92,165FHLB advances
  • $136,861Loans and leases held for sale
  • $1,859Unused loan commitments
  • $1,859Tier 1 (core) risk-based capital
  • $16,448Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,361Restructured Loans and leases
  • $2,868Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,272Total interest income
  • $1,141Total interest expense
  • $5,131Net interest income
  • $1,100Provision for loan and lease losses
  • $868Total noninterest income
  • $0Fiduciary activities
  • $148Service charges on deposit accounts
  • $0Trading account gains & fees
  • $720Additional noninterest income
  • $4,130Total noninterest expense
  • $2,158Salaries and employee benefits
  • $441Premises and equipment expense
  • $1,531Additional noninterest expense
  • $769Pre-tax net operating income
  • $0Securities gains (losses)
  • $247Applicable income taxes
  • $522Income before extraordinary items
  • $0Extraordinary gains - net
  • $522Net income attributable to bank
  • $0Net charge-offs
  • $522Cash dividends
  • $664Sale, conversion, retirement of capital stock, net
  • $297Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.36%Yield on earning assets
  • 0.97%Cost of funding earning assets
  • 4.38%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 3.53%Noninterest expense to earning assets
  • 0.38%Net operating income to assets
  • 0.38%Return on assets (ROA)
  • 0.55%Pretax return on assets
  • 3.15%Return on equity (ROE)
  • 1.36%Retained earnings to average equity (YTD only)
  • 0.68%Net charge-offs to loans
  • 165.66%Credit loss provision to net charge-offs
  • 2.81%Efficiency ratio
  • 68,845Assets per employee
  • 2.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 56.90%Loss allowance to loans
  • 2.11%Loss allowance to noncurrent loans
  • 142.91%Noncurrent assets plus other real estate owned to assets
  • 1.38%Noncurrent loans to loans
  • 1.48%Net loans and leases to deposits
  • 80.27%Net loans and leases to core deposits
  • 85.35%Equity capital to assets
  • 12.18%Core capital (leverage) ratio
  • 12.02%Tier 1 risk-based capital ratio
  • 17.85%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $138,708Average earning assets
  • $16,564Average equity
  • $117,094Average loans

List of branches

  • 6 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07278The Peninsula Bank Of Ishpeming100 South Main Street, Ishpeming, MI 49849October 27, 1887Full Service Brick and Mortar
    1224509Pen West BranchDaisy Street And U. S. 41, Ishpeming Township, MI 49849Febuary 15, 1968Full Service Brick and Mortar
    2224510Pen North Branch900 U.S. 41 West, Ishpeming, MI 49849May 10, 1993Full Service Brick and Mortar
    3224511Negaunee Branch440 U.S. 41 East, Negaunee, MI 49866September 29, 1997Full Service Brick and Mortar
    4361362Marquette Branch102 N Front Street, Marquette, MI 49855June 30, 2001Full Service Brick and Mortar
    5364836Medical Center Branch1414 W. Fair Ave., Marquette, MI 49855November 26, 2001Limited Service Facility

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