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


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

  • General
  • FDIC Certificate #: 10157
    Status: Active
    Federal Reserve ID: 961343
    Bank Holding Company (Regulatory Top Holder): Shelby Financial Corporation (RSSDID: 1493001, Location: Shelby, MI)
    Date Established: March 02, 1910
    WWW: http://www.shelbybank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 11363
    FDIC's unique #: 6499
    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: 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: 242 North Michigan, Shelby, MI 49455
    County: Oceana
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $206.2 mil
    Equity capital: $20.2 mil
    Deposits held in domestic offices: $177.4 mil
    Return on assets (ROA): 0.91% ($1.9 mil)
    Quarterly return on assets: 1.04% ($2.1 mil)
    Return on Equity (ROE): 9.47% ($1.9 mil)
    Quarterly return on equity: 10.64% ($2.1 mil)
    Net income: $1.9 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.25% ($2,577.3 mil)
    Quarterly Pretax return on assets: 1.39% ($2,866.0 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
  • 80Total employees (full-time equivalent)
  • $206,185Total assets
  • $8,788Cash and due from depository institutions
  • $3,184Interest-bearing balances
  • $63,544Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $121,662Net loans & leases
  • $1,861Loan loss allowance
  • $0Trading account assets
  • $6,555Bank premises and fixed assets
  • $763Other real estate owned
  • $1,250Goodwill and other intangibles
  • $206,185Life insurance assets
  • $3,623All other assets
  • $185,966Total liabilities and capital
  • $177,442Total liabilities
  • $141,443Total deposits
  • $177,442Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 6971.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,553Subordinated debt
  • $20,219All other liabilities
  • $20,219Total equity capital
  • $20,219Total bank equity capital
  • $0Perpetual preferred stock
  • $2,610Common stock
  • $4,390Surplus
  • $13,219Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $707Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,673Income earned, not collected on loans
  • $0Earning assets
  • $964Long-term assets (5+ years)
  • $188,390Average Assets, year-to-date
  • $39,001Average Assets, quarterly
  • $203,294Volatile liabilities
  • $205,899Insider loans
  • $132,391FHLB advances
  • $204,132Loans and leases held for sale
  • $1,516Unused loan commitments
  • $1,016Tier 1 (core) risk-based capital
  • $18,460Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $500Total unused commitments
  • $20,513Restructured Loans and leases
  • $3,637Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,832Total interest income
  • $1,474Total interest expense
  • $7,358Net interest income
  • $500Provision for loan and lease losses
  • $2,977Total noninterest income
  • $0Fiduciary activities
  • $770Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,207Additional noninterest income
  • $7,394Total noninterest expense
  • $4,284Salaries and employee benefits
  • $958Premises and equipment expense
  • $2,152Additional noninterest expense
  • $2,441Pre-tax net operating income
  • $108Securities gains (losses)
  • $697Applicable income taxes
  • $1,852Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,852Net income attributable to bank
  • $0Net charge-offs
  • $1,852Cash dividends
  • $340Sale, conversion, retirement of capital stock, net
  • $1,127Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.73%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 3.94%Net interest margin
  • 1.59%Noninterest income to earning assets
  • 3.96%Noninterest expense to earning assets
  • 0.87%Net operating income to assets
  • 0.91%Return on assets (ROA)
  • 1.25%Pretax return on assets
  • 9.47%Return on equity (ROE)
  • 3.71%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 147.06%Credit loss provision to net charge-offs
  • 8.65%Efficiency ratio
  • 71,543Assets per employee
  • 2.58%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 60.85%Loss allowance to loans
  • 1.51%Loss allowance to noncurrent loans
  • 111.24%Noncurrent assets plus other real estate owned to assets
  • 1.18%Noncurrent loans to loans
  • 1.35%Net loans and leases to deposits
  • 68.56%Net loans and leases to core deposits
  • 72.12%Equity capital to assets
  • 9.81%Core capital (leverage) ratio
  • 9.04%Tier 1 risk-based capital ratio
  • 13.94%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $203,294Average earning assets
  • $19,554Average equity
  • $186,804Average loans

List of branches

  • 8 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06499The Shelby State Bank242 North Michigan, Shelby, MI 49455March 02, 1910Full Service Brick and Mortar
    14020Hesperia Branch180 North Division, Hesperia, MI 49421November 14, 1931Full Service Brick and Mortar
    2208339Whitelake Branch8238 Whitehall Road, Whitehall Township, MI 49461July 06, 1981Full Service Brick and Mortar
    3221971Dalton Township Branch2222 Holton Road, Dalton Township, MI 49445January 13, 1992Full Service Brick and Mortar
    5228288Airline Road Branch6448 Airline Road, Fruitport Township, MI 49415March 20, 1989Full Service Brick and Mortar
    6359383Hart Branch811 South State Street, Hart, MI 49420October 16, 2000Full Service Brick and Mortar
    7441089Pentwater Branch388 South Hancock Street, Pentwater, MI 49449June 06, 2005Full Service Brick and Mortar
    8481539Ludington Branch30 North Meyers Avenue, Ludington, MI 49431July 08, 2008Full Service Brick and Mortar

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