Call reports 2024
FIRST STATE BANK OF MICHIGAN — 2024
What FIRST STATE BANK OF 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 | 54,029,000 | 53,721,000 | 53,989,000 | 59,649,000 |
| Total loans | 27,371,000 | 27,750,000 | 28,241,000 | 26,304,000 |
| Allowance for loan losses | 373,000 | 374,000 | 377,000 | 349,000 |
| Securities available for sale | 18,008,000 | 16,991,000 | 17,079,000 | 17,215,000 |
| Securities held to maturity | 2,933,000 | 2,060,000 | 1,557,000 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 43,371,000 | 42,906,000 | 42,580,000 | 44,101,000 |
| Interest-bearing deposits | 37,424,000 | 35,373,000 | 35,463,000 | 35,436,000 |
| Noninterest-bearing deposits | 5,947,000 | 7,533,000 | 7,117,000 | 8,665,000 |
| Equity capital | 10,427,000 | 10,488,000 | 10,255,000 | 15,396,000 |
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 | 541,000 | 1,100,000 | 1,654,000 | 521,000 |
| Interest expense | 126,000 | 236,000 | 362,000 | 89,000 |
| Net interest income | 415,000 | 864,000 | 1,292,000 | 432,000 |
| Noninterest income | 32,000 | 67,000 | 101,000 | 21,000 |
| Noninterest expense | 414,000 | 836,000 | 2,121,000 | 547,000 |
| Provision for loan losses | 0 | 18,000 | 22,000 | 352,000 |
| Pretax income | 33,000 | 77,000 | -750,000 | -446,000 |
| Income tax | -6,000 | -7,000 | -202,000 | 0 |
| Net income | 39,000 | 84,000 | -548,000 | -446,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 11,511,000 | 11,557,000 | 10,925,000 | 11,635,000 |