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


  • West Michigan Bank & Trust in Frankfort, Michigan (MI)
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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
  • NoIDNameAddressEstablishedService TypeMap
    017008West Michigan Bank & Trust501 Main Street, Frankfort, MI 49635May 02, 1983Full Service Brick and Mortar
    1257432Manistee Branch120 Cypress Street, Manistee, MI 49660October 16, 1989Full Service Brick and Mortar

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