Valley Ridge Bank in Kent City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 07, 2006

  • Valley Ridge Bank in Kent City, Michigan (MI)
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Valley Ridge Bank - Overview

  • General
  • FDIC Certificate #: 1592
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: ChoiceOne Bank (#1014)
    Federal Reserve ID: 268846
    Date Established: April 01, 1907
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 9 (Interstate: No)
    OTS Docket #: 11285
    FDIC's unique #: 1039
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: December 07, 2006
    Last Structure Change Process Date: January 23, 2007
    Last Data Update: January 23, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 450 West Muskegon Street, Kent City, MI 49330
    County: Kent
    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
    Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000)
    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)
  • Financial Summary
  • Total assets: $213.9 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, 2005)

  • Dollar figures in thousands
  • 83Total employees (full-time equivalent)
  • $216,262Total assets
  • $6,625Cash and due from depository institutions
  • $219Interest-bearing balances
  • $38,411Securities
  • $7,700Federal funds sold & reverse repurchase agreements
  • $149,417Net loans & leases
  • $1,674Loan loss allowance
  • $0Trading account assets
  • $4,075Bank premises and fixed assets
  • $50Other real estate owned
  • $336Goodwill and other intangibles
  • $0Life insurance assets
  • $9,648All other assets
  • $216,262Total liabilities and capital
  • $195,823Total liabilities
  • $165,903Total deposits
  • $132,964Interest-bearing deposits
  • $165,903Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $10,379Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $16,500Other borrowed funds
  • $0Subordinated debt
  • $3,041All other liabilities
  • $20,439Total equity capital
  • $20,439Total bank equity capital
  • $20,439Perpetual preferred stock
  • $0Common stock
  • $1,050Surplus
  • $8,950Undivided profits
  • Memoranda
  • $10,439Noncurrent loans and leases
  • $17,709Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $712Earning assets
  • $0Long-term assets (5+ years)
  • $1,117Average Assets, year-to-date
  • $195,747Average Assets, quarterly
  • $21,658Volatile liabilities
  • $203,098Insider loans
  • $209,890FHLB advances
  • $33,659Loans and leases held for sale
  • $2,465Unused loan commitments
  • $16,500Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $351Total risk weighted assets
  • $17,709Total unused commitments
  • $1,604Restructured Loans and leases
  • $1,674Derivatives

Income and Expense (December 31, 2005)

  • Dollar figures in thousands
  • $11,581Total interest income
  • $3,890Total interest expense
  • $7,691Net interest income
  • $120Provision for loan and lease losses
  • $2,958Total noninterest income
  • $0Fiduciary activities
  • $1,611Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,347Additional noninterest income
  • $7,599Total noninterest expense
  • $4,022Salaries and employee benefits
  • $1,041Premises and equipment expense
  • $2,536Additional noninterest expense
  • $2,930Pre-tax net operating income
  • -$8Securities gains (losses)
  • $704Applicable income taxes
  • $2,218Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,218Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $103Sale, conversion, retirement of capital stock, net
  • $840Net operating income

Performance and Condition Ratios (December 31, 2005)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.32%Yield on earning assets
  • 2.12%Cost of funding earning assets
  • 4.20%Net interest margin
  • 1.61%Noninterest income to earning assets
  • 4.15%Noninterest expense to earning assets
  • 1.10%Net operating income to assets
  • 1.09%Return on assets (ROA)
  • 1.44%Pretax return on assets
  • 11.19%Return on equity (ROE)
  • 6.95%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 116.50%Credit loss provision to net charge-offs
  • 29.61%Efficiency ratio
  • 69,528Assets per employee
  • 2.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 37.87%Loss allowance to loans
  • 1.11%Loss allowance to noncurrent loans
  • 235.11%Noncurrent assets plus other real estate owned to assets
  • 0.35%Noncurrent loans to loans
  • 0.47%Net loans and leases to deposits
  • 90.06%Net loans and leases to core deposits
  • 99.53%Equity capital to assets
  • 9.45%Core capital (leverage) ratio
  • 9.97%Tier 1 risk-based capital ratio
  • 13.26%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $203,098Average earning assets
  • $19,827Average equity
  • $183,205Average loans

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