Call reports 2024
FIRST BANK, UPPER MICHIGAN — 2024
What FIRST BANK, UPPER MICHIGAN reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 602,528,000 | 603,573,000 | 619,780,000 | 617,703,000 |
| Total loans | 418,195,000 | 427,945,000 | 430,562,000 | 425,138,000 |
| Allowance for loan losses | 5,543,000 | 5,531,000 | 5,014,000 | 4,943,000 |
| Securities available for sale | 129,024,000 | 126,367,000 | 124,180,000 | 118,838,000 |
| Securities held to maturity | 414,000 | 311,000 | 311,000 | 311,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 501,438,000 | 501,661,000 | 518,351,000 | 516,289,000 |
| Interest-bearing deposits | 395,330,000 | 388,878,000 | 399,745,000 | 396,121,000 |
| Noninterest-bearing deposits | 106,108,000 | 112,783,000 | 118,606,000 | 120,168,000 |
| Equity capital | 64,906,000 | 64,926,000 | 70,504,000 | 70,908,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 7,078,000 | 14,353,000 | 22,283,000 | 30,152,000 |
| Interest expense | 2,381,000 | 4,761,000 | 7,228,000 | 9,651,000 |
| Net interest income | 4,697,000 | 9,592,000 | 15,055,000 | 20,501,000 |
| Noninterest income | 1,529,000 | 3,229,000 | 5,040,000 | 6,911,000 |
| Noninterest expense | 4,361,000 | 8,681,000 | 13,085,000 | 17,483,000 |
| Provision for loan losses | 150,000 | 300,000 | 450,000 | 600,000 |
| Pretax income | 1,727,000 | 3,830,000 | 6,533,000 | 9,321,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | 1,727,000 | 3,830,000 | 6,533,000 | 9,321,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 66,401,000 | 66,479,000 | 68,026,000 | 70,919,000 |
| Total capital | 72,050,000 | 72,137,000 | 73,184,000 | 75,987,000 |
| Risk-weighted assets | 471,772,000 | 474,895,000 | 478,223,000 | 475,025,000 |