Call reports 2008
MICHIGAN HERITAGE BANK — 2008
What MICHIGAN HERITAGE BANK reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 188,406,000 | 178,792,000 | 181,611,000 | 179,653,000 |
| Total loans | 147,873,000 | 139,605,000 | 141,670,000 | 129,866,000 |
| Allowance for loan losses | 2,965,000 | 6,157,000 | 5,937,000 | 5,336,000 |
| Securities available for sale | 31,949,000 | 31,720,000 | 27,555,000 | 26,435,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 159,122,000 | 147,560,000 | 155,423,000 | 160,088,000 |
| Interest-bearing deposits | 152,262,000 | 141,005,000 | 146,284,000 | 148,142,000 |
| Noninterest-bearing deposits | 6,860,000 | 6,555,000 | 9,139,000 | 11,946,000 |
| Equity capital | 14,987,000 | 10,579,000 | 10,142,000 | 6,399,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 3,206,000 | 6,081,000 | 8,859,000 | 11,031,000 |
| Interest expense | 1,841,000 | 3,344,000 | 4,837,000 | 6,338,000 |
| Net interest income | 1,365,000 | 2,737,000 | 4,022,000 | 4,693,000 |
| Noninterest income | 102,000 | 121,000 | 333,000 | 386,000 |
| Noninterest expense | 1,606,000 | 3,359,000 | 4,995,000 | 6,710,000 |
| Provision for loan losses | 120,000 | 5,860,000 | 5,860,000 | 10,484,000 |
| Pretax income | -242,000 | -6,343,000 | -7,039,000 | -12,928,000 |
| Income tax | -82,000 | -2,161,000 | -2,394,000 | -4,374,000 |
| Net income | -160,000 | -4,182,000 | -4,645,000 | -8,554,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 14,768,000 | 9,246,000 | 9,257,000 | 2,850,000 |
| Total capital | 16,827,000 | 11,238,000 | 11,271,000 | 4,752,000 |
| Risk-weighted assets | 163,783,000 | 155,181,000 | 157,837,000 | 149,469,000 |