Union Bank in Lake Odessa, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Union Bank - Overview

  • General
  • FDIC Certificate #: 14722
    Status: Active
    Federal Reserve ID: 390840
    Bank Holding Company (Regulatory Top Holder): Union Financial Corporation (RSSDID: 1250204, Location: Lake Odessa, MI)
    Date Established: January 01, 1934
    WWW: http://www.ubmich.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 #: 14358
    FDIC's unique #: 9210
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: September 04, 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: 933 4th Avenue, Lake Odessa, MI 48849
    County: Ionia
    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
    Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
    Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
    CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $175.2 mil
    Equity capital: $16.0 mil
    Deposits held in domestic offices: $152.8 mil
    Return on assets (ROA): 0.30% ($0.5 mil)
    Quarterly return on assets: 0.32% ($0.6 mil)
    Return on Equity (ROE): 3.30% ($0.5 mil)
    Quarterly return on equity: 3.53% ($0.6 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.30% ($525.7 mil)
    Quarterly Pretax return on assets: 0.32% ($560.7 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
  • 59Total employees (full-time equivalent)
  • $175,219Total assets
  • $23,707Cash and due from depository institutions
  • $12,402Interest-bearing balances
  • $14,747Securities
  • $959Federal funds sold & reverse repurchase agreements
  • $118,967Net loans & leases
  • $3,035Loan loss allowance
  • $0Trading account assets
  • $5,521Bank premises and fixed assets
  • $3,620Other real estate owned
  • $1,190Goodwill and other intangibles
  • $175,219Life insurance assets
  • $6,508All other assets
  • $159,265Total liabilities and capital
  • $152,763Total liabilities
  • $127,984Total deposits
  • $152,763Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,065Trading liabilities
  • $0Other borrowed funds
  • $1,437Subordinated debt
  • $15,954All other liabilities
  • $15,954Total equity capital
  • $15,954Total bank equity capital
  • $0Perpetual preferred stock
  • $697Common stock
  • $10,381Surplus
  • $4,876Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,584Income earned, not collected on loans
  • $0Earning assets
  • $1,129Long-term assets (5+ years)
  • $147,075Average Assets, year-to-date
  • $23,713Average Assets, quarterly
  • $174,071Volatile liabilities
  • $173,445Insider loans
  • $132,720FHLB advances
  • $172,791Loans and leases held for sale
  • $3,138Unused loan commitments
  • $3,138Tier 1 (core) risk-based capital
  • $14,861Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $14,774Restructured Loans and leases
  • $3,957Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,147Total interest income
  • $1,311Total interest expense
  • $6,836Net interest income
  • $1,200Provision for loan and lease losses
  • $1,206Total noninterest income
  • $0Fiduciary activities
  • $548Service charges on deposit accounts
  • $0Trading account gains & fees
  • $658Additional noninterest income
  • $6,327Total noninterest expense
  • $3,160Salaries and employee benefits
  • $853Premises and equipment expense
  • $2,314Additional noninterest expense
  • $515Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $515Income before extraordinary items
  • $0Extraordinary gains - net
  • $515Net income attributable to bank
  • $0Net charge-offs
  • $515Cash dividends
  • $1,542Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.46%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 4.58%Net interest margin
  • 0.81%Noninterest income to earning assets
  • 4.24%Noninterest expense to earning assets
  • 0.30%Net operating income to assets
  • 0.30%Return on assets (ROA)
  • 0.30%Pretax return on assets
  • 3.30%Return on equity (ROE)
  • 3.30%Retained earnings to average equity (YTD only)
  • 1.26%Net charge-offs to loans
  • 77.82%Credit loss provision to net charge-offs
  • 1.11%Efficiency ratio
  • 78,674Assets per employee
  • 2.97%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.49%Loss allowance to noncurrent loans
  • 46.10%Noncurrent assets plus other real estate owned to assets
  • 5.82%Noncurrent loans to loans
  • 5.40%Net loans and leases to deposits
  • 77.88%Net loans and leases to core deposits
  • 81.25%Equity capital to assets
  • 9.11%Core capital (leverage) ratio
  • 8.60%Tier 1 risk-based capital ratio
  • 11.20%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $174,071Average earning assets
  • $15,599Average equity
  • $149,273Average loans

List of branches

  • 7 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09210Union Bank933 4th Avenue, Lake Odessa, MI 48849January 01, 1934Full Service Brick and Mortar
    1232051Drive-In Branch1150 Jordan Lake Street, Lake Odessa, MI 48849November 25, 1977Limited Service Facility
    2232052Mulliken Branch233 West Grand Ledge Highway, Mulliken, MI 48861September 05, 1989Full Service Brick and Mortar
    4230550Dimondale Branch127 East Rd, Dimondale, MI 48821October 15, 1969Full Service Brick and Mortar
    5222678Pewamo Branch11755 East Blue Water Highway, Pewamo, MI 48873October 21, 1965Full Service Brick and Mortar
    6363134Westphalia Branch202 East Main Street, Westphalia, MI 48894December 17, 2001Full Service Brick and Mortar
    7457104Hastings Branch529 West State Street, Hastings, MI 49058December 11, 2006Full Service Brick and Mortar

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