Wolverine Bank, Federal Savings Bank in Midland, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Wolverine Bank, Federal Savings Bank in Midland, Michigan (MI)
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Wolverine Bank, Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 28918
    Status: Active
    Federal Reserve ID: 707877
    Date Established: January 01, 1933
    WWW: http://www.wolverinebank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 2620
    FDIC's unique #: 41752
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 15, 1934
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 5710 Eastman Avenue, Midland, MI 48640
    County: Midland
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Detroit
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Saginaw-Bay City-Midland, MI (#6960)
    Core Based Statistical Area (CBSA): Midland, MI (#33220)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $293.8 mil
    Equity capital: $53.4 mil
    Deposits held in domestic offices: $171.6 mil
    Return on assets (ROA): 0.47% ($1.4 mil)
    Quarterly return on assets: 0.56% ($1.6 mil)
    Return on Equity (ROE): 2.83% ($1.5 mil)
    Quarterly return on equity: 3.11% ($1.6 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.71% ($2,086.1 mil)
    Quarterly Pretax return on assets: 0.79% ($2,321.1 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
  • 62Total employees (full-time equivalent)
  • $293,814Total assets
  • $35,269Cash and due from depository institutions
  • $31,464Interest-bearing balances
  • $315Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $244,038Net loans & leases
  • $5,691Loan loss allowance
  • $0Trading account assets
  • $1,503Bank premises and fixed assets
  • $1,364Other real estate owned
  • $0Goodwill and other intangibles
  • $293,814Life insurance assets
  • $11,325All other assets
  • $240,413Total liabilities and capital
  • $171,577Total liabilities
  • $154,818Total deposits
  • $171,577Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $67,790Trading liabilities
  • $0Other borrowed funds
  • $1,046Subordinated debt
  • $53,401All other liabilities
  • $53,401Total equity capital
  • $53,401Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $11,936Surplus
  • $41,465Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,660Income earned, not collected on loans
  • $0Earning assets
  • $817Long-term assets (5+ years)
  • $275,817Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $305,555Volatile liabilities
  • $297,047Insider loans
  • $226,414FHLB advances
  • $293,814Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $53,401Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $21,177Restructured Loans and leases
  • $450Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,466Total interest income
  • $5,047Total interest expense
  • $9,419Net interest income
  • $1,385Provision for loan and lease losses
  • $898Total noninterest income
  • $0Fiduciary activities
  • $8Service charges on deposit accounts
  • $0Trading account gains & fees
  • $890Additional noninterest income
  • $6,913Total noninterest expense
  • $4,043Salaries and employee benefits
  • $1,020Premises and equipment expense
  • $1,850Additional noninterest expense
  • $2,019Pre-tax net operating income
  • $136Securities gains (losses)
  • $727Applicable income taxes
  • $1,428Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,428Net income attributable to bank
  • $0Net charge-offs
  • $1,428Cash dividends
  • $1,933Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.05%Yield on earning assets
  • 1.76%Cost of funding earning assets
  • 3.29%Net interest margin
  • 0.31%Noninterest income to earning assets
  • 2.41%Noninterest expense to earning assets
  • 0.44%Net operating income to assets
  • 0.47%Return on assets (ROA)
  • 0.71%Pretax return on assets
  • 2.83%Return on equity (ROE)
  • 2.83%Retained earnings to average equity (YTD only)
  • 0.78%Net charge-offs to loans
  • 71.65%Credit loss provision to net charge-offs
  • 1.76%Efficiency ratio
  • 67,006Assets per employee
  • 4.74%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.28%Loss allowance to noncurrent loans
  • 48.81%Noncurrent assets plus other real estate owned to assets
  • 4.43%Noncurrent loans to loans
  • 4.67%Net loans and leases to deposits
  • 142.23%Net loans and leases to core deposits
  • 157.61%Equity capital to assets
  • 18.18%Core capital (leverage) ratio
  • 18.18%Tier 1 risk-based capital ratio
  • 23.59%Total risk-based capital ratio
  • Memoranda
  • $25Average assets
  • $305,555Average earning assets
  • $50,516Average equity
  • $286,388Average loans

List of branches

  • 4 Michigan Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041752Wolverine Bank, Federal Savings Bank5710 Eastman Avenue, Midland, MI 48640January 01, 1933Full Service Brick and Mortar
    1271571South Saginaw Road Branch1015 South Saginaw Road, Midland, MI 48640January 01, 1933Full Service Brick and Mortar
    101271573Frankenmuth Branch464 North Main Street, Frankenmuth, MI 48734January 01, 1933Full Service Brick and Mortar
    104495119Ashman Street Branch118 Ashman Street, Midland, MI 48640June 30, 2006Full Service Brick and Mortar

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