West Michigan Community Bank in Hudsonville, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • West Michigan Community Bank in Hudsonville, Michigan (MI)
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West Michigan Community Bank - Overview

  • General
  • FDIC Certificate #: 22308
    Status: Active
    Federal Reserve ID: 715340
    Date Established: July 21, 1976
    WWW: http://www.wmcb.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 5, Interstate: No)
    OTS Docket #: 9915
    FDIC's unique #: 15517
    Numeric code: 21
    Regulator: FDIC
    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: July 21, 1976
    Last Structure Change Effective Date: July 08, 2011
    Last Structure Change Process Date: July 12, 2011
    Last Data Update: July 12, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 3467-3469 Kelly Street, Hudsonville, MI 49426
    County: Ottawa
    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): Holland-Grand Haven, MI (#26100)
    CBSA Metro Statistical Area: Holland-Grand Haven, MI (#26100)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $119.3 mil
    Equity capital: $14.7 mil
    Deposits held in domestic offices: $103.3 mil
    Return on assets (ROA): -0.36% (-$0.4 mil)
    Quarterly return on assets: -2.42% (-$2.9 mil)
    Return on Equity (ROE): -3.09% (-$0.5 mil)
    Quarterly return on equity: -19.25% (-$2.9 mil)
    Net income: -$0.4 mil
    Quarterly Net income: -$0.7 mil
    Pretax return on assets: -0.41% (-$489.1 mil)
    Quarterly Pretax return on assets: -2.46% (-$2,934.6 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
  • 54Total employees (full-time equivalent)
  • $119,292Total assets
  • $12,911Cash and due from depository institutions
  • $10,571Interest-bearing balances
  • $14,447Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $82,873Net loans & leases
  • $1,171Loan loss allowance
  • $0Trading account assets
  • $5,132Bank premises and fixed assets
  • $0Other real estate owned
  • $1,229Goodwill and other intangibles
  • $119,292Life insurance assets
  • $2,700All other assets
  • $104,583Total liabilities and capital
  • $103,269Total liabilities
  • $86,114Total deposits
  • $103,269Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,314Subordinated debt
  • $14,709All other liabilities
  • $14,709Total equity capital
  • $14,709Total bank equity capital
  • $0Perpetual preferred stock
  • $638Common stock
  • $14,433Surplus
  • $-362Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $110Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $829Income earned, not collected on loans
  • $0Earning assets
  • $383Long-term assets (5+ years)
  • $107,891Average Assets, year-to-date
  • $12,573Average Assets, quarterly
  • $121,386Volatile liabilities
  • $120,185Insider loans
  • $89,118FHLB advances
  • $118,566Loans and leases held for sale
  • $1,422Unused loan commitments
  • $1,422Tier 1 (core) risk-based capital
  • $13,399Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,530Restructured Loans and leases
  • $3,849Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,955Total interest income
  • $606Total interest expense
  • $5,349Net interest income
  • $1,320Provision for loan and lease losses
  • $747Total noninterest income
  • $234Fiduciary activities
  • $118Service charges on deposit accounts
  • $0Trading account gains & fees
  • $395Additional noninterest income
  • $5,272Total noninterest expense
  • $2,622Salaries and employee benefits
  • $707Premises and equipment expense
  • $1,943Additional noninterest expense
  • -$496Pre-tax net operating income
  • $0Securities gains (losses)
  • -$59Applicable income taxes
  • -$437Income before extraordinary items
  • $0Extraordinary gains - net
  • -$437Net income attributable to bank
  • $0Net charge-offs
  • -$437Cash dividends
  • $153Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.45%Yield on earning assets
  • 0.55%Cost of funding earning assets
  • 4.89%Net interest margin
  • 0.68%Noninterest income to earning assets
  • 4.82%Noninterest expense to earning assets
  • -0.36%Net operating income to assets
  • -0.36%Return on assets (ROA)
  • -0.41%Pretax return on assets
  • -3.09%Return on equity (ROE)
  • -3.09%Retained earnings to average equity (YTD only)
  • 0.19%Net charge-offs to loans
  • 862.75%Credit loss provision to net charge-offs
  • 5.39%Efficiency ratio
  • 80,495Assets per employee
  • 2.21%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.39%Loss allowance to noncurrent loans
  • 141.25%Noncurrent assets plus other real estate owned to assets
  • 0.69%Noncurrent loans to loans
  • 0.99%Net loans and leases to deposits
  • 80.25%Net loans and leases to core deposits
  • 88.56%Equity capital to assets
  • 12.33%Core capital (leverage) ratio
  • 11.30%Tier 1 risk-based capital ratio
  • 15.04%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $121,386Average earning assets
  • $14,158Average equity
  • $109,305Average 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
  • $26,995Managed Assets
  • 1Number of Accounts
  • $26,523Personal trust and agency accounts
  • $15,618Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $2,016Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $8,889Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 58Number of Accounts
  • $0Personal trust and agency accounts
  • $2,016Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $472Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $472Fiduciary accounts held in foreign offices

List of branches

  • 6 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015517West Michigan Community Bank3467-3469 Kelly Street, Hudsonville, MI 49426July 21, 1976Full Service Brick and Mortar
    1254374Jenison Branch437 Baldwin Street, Jenison, MI 49428July 19, 1996Full Service Brick and Mortar
    2366275Holland Branch81 East 8th Street, Holland, MI 49423Febuary 03, 2003Full Service Brick and Mortar
    4465184North Holland Branch3493 West Shore Drive, Holland, MI 49424March 19, 2007Full Service Brick and Mortar
    5522152Hudsonville Corporate Office5367 School Avenue, Hudsonville, MI 49426August 01, 2011Limited Service Administrative
    6529947Zeeland Branch59 West Washington Street, Unit K, Zeeland, MI 49464Febuary 20, 2012Full Service Retail

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