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


  • The Port Austin State Bank in Port Austin, Michigan (MI)
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The Port Austin State Bank - Overview

  • General
  • FDIC Certificate #: 14999
    Status: Active
    Federal Reserve ID: 779641
    Date Established: January 01, 1884
    WWW: http://www.portaustinbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 16104
    FDIC's unique #: 9401
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: January 22, 1935
    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: 62 East State Street, Port Austin, MI 48467
    County: Huron
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Detroit
    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: $41.9 mil
    Equity capital: $7.7 mil
    Deposits held in domestic offices: $33.7 mil
    Return on assets (ROA): 1.59% ($0.7 mil)
    Quarterly return on assets: 1.78% ($0.7 mil)
    Return on Equity (ROE): 9.09% ($0.7 mil)
    Quarterly return on equity: 9.67% ($0.8 mil)
    Net income: $0.7 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.59% ($666.8 mil)
    Quarterly Pretax return on assets: 1.78% ($746.4 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
  • 9Total employees (full-time equivalent)
  • $41,935Total assets
  • $2,016Cash and due from depository institutions
  • $1,038Interest-bearing balances
  • $4,114Securities
  • $1,583Federal funds sold & reverse repurchase agreements
  • $32,011Net loans & leases
  • $358Loan loss allowance
  • $0Trading account assets
  • $415Bank premises and fixed assets
  • $282Other real estate owned
  • $0Goodwill and other intangibles
  • $41,935Life insurance assets
  • $1,514All other assets
  • $34,263Total liabilities and capital
  • $33,694Total liabilities
  • $28,449Total deposits
  • $33,694Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $500Trading liabilities
  • $0Other borrowed funds
  • $69Subordinated debt
  • $7,672All other liabilities
  • $7,672Total equity capital
  • $7,672Total bank equity capital
  • $0Perpetual preferred stock
  • $330Common stock
  • $2,300Surplus
  • $5,042Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $82Income earned, not collected on loans
  • $0Earning assets
  • $166Long-term assets (5+ years)
  • $38,746Average Assets, year-to-date
  • $8,269Average Assets, quarterly
  • $42,817Volatile liabilities
  • $41,521Insider loans
  • $27,098FHLB advances
  • $42,629Loans and leases held for sale
  • $1,034Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,560Tier 2 risk-based capital
  • $1,034Total risk weighted assets
  • $0Total unused commitments
  • $1,155Restructured Loans and leases
  • $599Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,930Total interest income
  • $400Total interest expense
  • $1,530Net interest income
  • -$9Provision for loan and lease losses
  • $48Total noninterest income
  • $0Fiduciary activities
  • $53Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$5Additional noninterest income
  • $905Total noninterest expense
  • $513Salaries and employee benefits
  • $68Premises and equipment expense
  • $324Additional noninterest expense
  • $682Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $682Income before extraordinary items
  • $0Extraordinary gains - net
  • $682Net income attributable to bank
  • $0Net charge-offs
  • $682Cash dividends
  • $5Sale, conversion, retirement of capital stock, net
  • $363Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 1.01%Cost of funding earning assets
  • 3.85%Net interest margin
  • 0.12%Noninterest income to earning assets
  • 2.28%Noninterest expense to earning assets
  • 1.59%Net operating income to assets
  • 1.59%Return on assets (ROA)
  • 1.59%Pretax return on assets
  • 9.09%Return on equity (ROE)
  • 4.25%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • -180.00%Credit loss provision to net charge-offs
  • 134.60%Efficiency ratio
  • 57,351Assets per employee
  • 4.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 53.23%Loss allowance to loans
  • 1.11%Loss allowance to noncurrent loans
  • 436.59%Noncurrent assets plus other real estate owned to assets
  • 0.87%Noncurrent loans to loans
  • 0.25%Net loans and leases to deposits
  • 95.01%Net loans and leases to core deposits
  • 98.93%Equity capital to assets
  • 18.29%Core capital (leverage) ratio
  • 17.73%Tier 1 risk-based capital ratio
  • 27.90%Total risk-based capital ratio
  • Memoranda
  • $29Average assets
  • $42,817Average earning assets
  • $7,505Average equity
  • $39,730Average loans

List of branches

  • 1 Michigan Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09401The Port Austin State Bank62 East State Street, Port Austin, MI 48467January 01, 1884Full Service Brick and Mortar

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