Call reports 2023
FIRST BANK, UPPER MICHIGAN — 2023
What FIRST BANK, UPPER MICHIGAN reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 579,152,000 | 580,086,000 | 587,497,000 | 598,352,000 |
| Total loans | 388,300,000 | 398,478,000 | 410,323,000 | 417,109,000 |
| Allowance for loan losses | 5,795,000 | 5,867,000 | 5,756,000 | 5,430,000 |
| Securities available for sale | 134,198,000 | 130,689,000 | 127,407,000 | 132,236,000 |
| Securities held to maturity | 518,000 | 414,000 | 414,000 | 414,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 489,652,000 | 491,124,000 | 500,432,000 | 500,448,000 |
| Interest-bearing deposits | 372,197,000 | 377,209,000 | 385,577,000 | 387,366,000 |
| Noninterest-bearing deposits | 117,455,000 | 113,915,000 | 114,855,000 | 113,082,000 |
| Equity capital | 59,978,000 | 58,286,000 | 56,776,000 | 65,067,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 5,614,000 | 11,659,000 | 18,239,000 | 25,154,000 |
| Interest expense | 1,136,000 | 2,716,000 | 4,590,000 | 6,725,000 |
| Net interest income | 4,478,000 | 8,943,000 | 13,649,000 | 18,429,000 |
| Noninterest income | 1,588,000 | 3,138,000 | 4,855,000 | 6,462,000 |
| Noninterest expense | 4,143,000 | 8,306,000 | 12,574,000 | 16,897,000 |
| Provision for loan losses | 150,000 | 300,000 | 300,000 | 300,000 |
| Pretax income | 1,773,000 | 3,493,000 | 5,664,000 | 7,725,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | 1,773,000 | 3,493,000 | 5,664,000 | 7,725,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 62,533,000 | 62,396,000 | 63,481,000 | 65,647,000 |
| Total capital | 68,059,000 | 68,010,000 | 69,237,000 | 71,194,000 |
| Risk-weighted assets | 441,861,000 | 448,858,000 | 461,272,000 | 468,336,000 |