Call reports 2005
BANK OF MICHIGAN — 2005
What BANK OF MICHIGAN reported to the FFIEC in 2005, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2005Q1 | 2005Q2 | 2005Q3 | 2005Q4 |
|---|---|---|---|---|
| Total assets | 10,396,000 | 15,827,000 | 17,161,000 | 31,120,000 |
| Total loans | 965,000 | 3,057,000 | 10,934,000 | 28,062,000 |
| Allowance for loan losses | 15,000 | 47,000 | 164,000 | 421,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 2,488,000 | 8,295,000 | 9,851,000 | 24,028,000 |
| Interest-bearing deposits | 2,007,000 | 7,908,000 | 9,173,000 | 23,505,000 |
| Noninterest-bearing deposits | 481,000 | 387,000 | 678,000 | 523,000 |
| Equity capital | 7,724,000 | 7,504,000 | 7,255,000 | 6,983,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2005Q1 | 2005Q2 | 2005Q3 | 2005Q4 |
|---|---|---|---|---|
| Interest income | 52,000 | 143,000 | 355,000 | 748,000 |
| Interest expense | 2,000 | 30,000 | 101,000 | 270,000 |
| Net interest income | 50,000 | 113,000 | 254,000 | 478,000 |
| Noninterest income | 2,000 | 7,000 | 12,000 | 25,000 |
| Noninterest expense | 455,000 | 825,000 | 1,228,000 | 1,620,000 |
| Provision for loan losses | 15,000 | 47,000 | 164,000 | 421,000 |
| Pretax income | -418,000 | -752,000 | -1,126,000 | -1,538,000 |
| Income tax | -142,000 | -256,000 | -381,000 | -521,000 |
| Net income | -276,000 | -496,000 | -745,000 | -1,017,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2005Q1 | 2005Q2 | 2005Q3 | 2005Q4 |
|---|---|---|---|---|
| Tier 1 capital | 7,582,000 | 7,248,000 | 6,874,000 | 6,462,000 |
| Total capital | 7,597,000 | 7,295,000 | 7,038,000 | 6,836,000 |
| Risk-weighted assets | 3,583,000 | 6,426,000 | 13,384,000 | 29,877,000 |