West Michigan Bank & Trust in city_name, state_name - Detailed Financial Reports, Location

West Michigan Bank & Trust in Frankfort, Michigan (MI)
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West Michigan Bank & Trust routing number info

West Michigan Bank & Trust - Overview

General
FDIC Certificate #: 24471
Status: Active
Federal Reserve ID: 23045
Date Established: May 02, 1983
WWW: http://www.wmibt.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 17008
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: Yes
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: May 02, 1983
Last Structure Change Effective Date: June 02, 2008
Last Structure Change Process Date: July 17, 2008
Last Data Update: July 17, 2008
Data Source Date: April 05, 2012
Location
Address: 501 Main Street, Frankfort, MI 49635
County: Benzie
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
Core Based Statistical Area (CBSA): Traverse City, MI (#45900)
CBSA Micro Statistical Area: Yes
History of Changes
Name Change
Change in Primary Regulatory Agency
Change in Supervisory Agency
Financial Summary
Total assets: $41.6 mil
Equity capital: $8.0 mil
Deposits held in domestic offices: $33.5 mil
Return on assets (ROA): 0.45% ($0.2 mil)
Quarterly return on assets: 0.38% ($0.2 mil)
Return on Equity (ROE): 2.37% ($0.2 mil)
Quarterly return on equity: 1.94% ($0.2 mil)
Net income: $0.2 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.45% ($187.3 mil)
Quarterly Pretax return on assets: 0.38% ($158.2 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
15Total employees (full-time equivalent)
$41,632Total assets
$5,289Cash and due from depository institutions
$4,987Interest-bearing balances
$28,792Securities
$144Federal funds sold & reverse repurchase agreements
$6,398Net loans & leases
$191Loan loss allowance
$0Trading account assets
$406Bank premises and fixed assets
$189Other real estate owned
$0Goodwill and other intangibles
$41,632Life insurance assets
$414All other assets
$33,619Total liabilities and capital
$33,541Total liabilities
$30,869Total deposits
$33,541Interest-bearing deposits
$63Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$78Subordinated debt
$8,013All other liabilities
$8,013Total equity capital
$8,013Total bank equity capital
$0Perpetual preferred stock
$2,769Common stock
$2,769Surplus
$2,475Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$86Income earned, not collected on loans
$0Earning assets
$168Long-term assets (5+ years)
$40,321Average Assets, year-to-date
$22,883Average Assets, quarterly
$39,720Volatile liabilities
$40,872Insider loans
$11,683FHLB advances
$40,916Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$7,947Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$435Restructured Loans and leases
$251Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$1,136Total interest income
$121Total interest expense
$1,015Net interest income
$0Provision for loan and lease losses
$277Total noninterest income
$201Fiduciary activities
$46Service charges on deposit accounts
$0Trading account gains & fees
$30Additional noninterest income
$1,113Total noninterest expense
$696Salaries and employee benefits
$127Premises and equipment expense
$290Additional noninterest expense
$179Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$179Income before extraordinary items
$0Extraordinary gains - net
$179Net income attributable to bank
$0Net charge-offs
$179Cash dividends
-$5Sale, conversion, retirement of capital stock, net
$130Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
2.96%Yield on earning assets
0.32%Cost of funding earning assets
2.64%Net interest margin
0.72%Noninterest income to earning assets
2.90%Noninterest expense to earning assets
0.45%Net operating income to assets
0.45%Return on assets (ROA)
0.45%Pretax return on assets
2.37%Return on equity (ROE)
0.65%Retained earnings to average equity (YTD only)
-0.07%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
86,146Assets per employee
2.78%Cash dividends to net income (YTD only)
Condition Ratios (%)
72.63%Loss allowance to loans
2.90%Loss allowance to noncurrent loans
222.09%Noncurrent assets plus other real estate owned to assets
0.66%Noncurrent loans to loans
1.31%Net loans and leases to deposits
19.08%Net loans and leases to core deposits
20.87%Equity capital to assets
19.25%Core capital (leverage) ratio
19.42%Tier 1 risk-based capital ratio
68.02%Total risk-based capital ratio
Memoranda
$69Average assets
$39,720Average earning assets
$7,559Average equity
$38,387Average loans

Total Fiduciary and Related Assets (December 31, 2011)

Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
YesFiduciary powers granted
YesFiduciary or related activity
$32,447Managed Assets
1Number of Accounts
$10,420Personal trust and agency accounts
$8,067Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$0Other retirement accounts
$0Corporate trust and agency accounts
$0Investment management agency accounts
$0Other fiduciary accounts
$1,179Fiduciary accounts held in foreign offices
$1,174Non-managed Assets
37Number of Accounts
$0Personal trust and agency accounts
$0Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$22,027Other retirement accounts
$5,071Corporate trust and agency accounts
$0Other fiduciary accounts
$0Fiduciary accounts held in foreign offices

List of branches

2 Michigan Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type	Map
0	17008	West Michigan Bank & Trust	501 Main Street, Frankfort, MI 49635	May 02, 1983	Full Service Brick and Mortar
1	257432	Manistee Branch	120 Cypress Street, Manistee, MI 49660	October 16, 1989	Full Service Brick and Mortar

West Michigan Bank & Trust in Frankfort, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

West Michigan Bank & Trust - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

Total Fiduciary and Related Assets (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

West Michigan Bank & Trust in Frankfort, Michigan (MI)Overview, Financial Summary, Detailed Financial Reports, Branches

West Michigan Bank & Trust - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

Total Fiduciary and Related Assets (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

West Michigan Bank & Trust in Frankfort, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches