The State Savings Bank of Manistique in Manistique, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • The State Savings Bank of Manistique in Manistique, Michigan (MI)
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The State Savings Bank of Manistique - Overview

  • General
  • FDIC Certificate #: 13249
    Status: Active
    Federal Reserve ID: 259956
    Bank Holding Company (Regulatory Top Holder): Ssb, Inc. (RSSDID: 1137686, Location: Manistique, MI)
    Date Established: July 07, 1917
    WWW: http://www.statesavingsbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 13742
    FDIC's unique #: 8382
    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: May 10, 2007
    Last Structure Change Process Date: May 10, 2007
    Last Data Update: May 10, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 101 South Cedar, Manistique, MI 49854
    County: Schoolcraft
    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
  • Financial Summary
  • Total assets: $118.7 mil
    Equity capital: $13.3 mil
    Deposits held in domestic offices: $89.7 mil
    Return on assets (ROA): 0.71% ($0.8 mil)
    Quarterly return on assets: -0.25% (-$0.3 mil)
    Return on Equity (ROE): 6.54% ($0.9 mil)
    Quarterly return on equity: -2.27% (-$0.3 mil)
    Net income: $0.8 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: 0.73% ($866.2 mil)
    Quarterly Pretax return on assets: -0.36% (-$427.2 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
  • 28Total employees (full-time equivalent)
  • $118,659Total assets
  • $5,193Cash and due from depository institutions
  • $0Interest-bearing balances
  • $47,229Securities
  • $2,600Federal funds sold & reverse repurchase agreements
  • $57,946Net loans & leases
  • $1,114Loan loss allowance
  • $0Trading account assets
  • $2,706Bank premises and fixed assets
  • $843Other real estate owned
  • $238Goodwill and other intangibles
  • $118,659Life insurance assets
  • $1,904All other assets
  • $105,336Total liabilities and capital
  • $89,737Total liabilities
  • $83,419Total deposits
  • $89,737Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 8621.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,603Trading liabilities
  • $0Other borrowed funds
  • $375Subordinated debt
  • $13,323All other liabilities
  • $13,323Total equity capital
  • $13,323Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $4,500Surplus
  • $8,323Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,345Income earned, not collected on loans
  • $0Earning assets
  • $583Long-term assets (5+ years)
  • $107,775Average Assets, year-to-date
  • $30,986Average Assets, quarterly
  • $119,118Volatile liabilities
  • $120,882Insider loans
  • $78,437FHLB advances
  • $120,115Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,167Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,092Restructured Loans and leases
  • $1,009Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,289Total interest income
  • $1,204Total interest expense
  • $4,085Net interest income
  • $621Provision for loan and lease losses
  • $219Total noninterest income
  • $0Fiduciary activities
  • $143Service charges on deposit accounts
  • $0Trading account gains & fees
  • $76Additional noninterest income
  • $2,816Total noninterest expense
  • $1,547Salaries and employee benefits
  • $278Premises and equipment expense
  • $991Additional noninterest expense
  • $867Pre-tax net operating income
  • $0Securities gains (losses)
  • $18Applicable income taxes
  • $849Income before extraordinary items
  • $0Extraordinary gains - net
  • $849Net income attributable to bank
  • $0Net charge-offs
  • $849Cash dividends
  • $716Sale, conversion, retirement of capital stock, net
  • $837Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.10%Cost of funding earning assets
  • 3.75%Net interest margin
  • 0.20%Noninterest income to earning assets
  • 2.58%Noninterest expense to earning assets
  • 0.71%Net operating income to assets
  • 0.71%Return on assets (ROA)
  • 0.73%Pretax return on assets
  • 6.54%Return on equity (ROE)
  • 0.09%Retained earnings to average equity (YTD only)
  • 1.16%Net charge-offs to loans
  • 86.73%Credit loss provision to net charge-offs
  • 2.08%Efficiency ratio
  • 65,428Assets per employee
  • 4.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 98.59%Loss allowance to loans
  • 1.89%Loss allowance to noncurrent loans
  • 47.51%Noncurrent assets plus other real estate owned to assets
  • 2.69%Noncurrent loans to loans
  • 3.97%Net loans and leases to deposits
  • 64.57%Net loans and leases to core deposits
  • 66.65%Equity capital to assets
  • 11.23%Core capital (leverage) ratio
  • 10.13%Tier 1 risk-based capital ratio
  • 15.51%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $119,118Average earning assets
  • $12,976Average equity
  • $109,027Average loans

List of branches

  • 5 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08382The State Savings Bank Of Manistique101 South Cedar, Manistique, MI 49854July 07, 1917Full Service Brick and Mortar
    1229380West Side Branch231 Deer Street, Manistique, MI 49854July 08, 1970Full Service Brick and Mortar
    2229381Gulliver BranchEast U.S. 2 Highway, Gulliver, MI 49840December 02, 1977Full Service Brick and Mortar
    315470Curtis BranchMain And Harrison Streets, Curtis, MI 49820April 12, 1976Full Service Brick and Mortar
    4232190Naubinway BranchU.S. 2 And Arbor Street, Naubinway, MI 49762December 07, 1990Full Service Brick and Mortar

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