Call reports 2024
BANK MICHIGAN — 2024
What BANK 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 | 116,561,000 | 125,221,000 | 130,617,000 | 132,121,000 |
| Total loans | 90,679,000 | 95,381,000 | 100,222,000 | 105,365,000 |
| Allowance for loan losses | 1,499,000 | 1,539,000 | 2,323,000 | 2,581,000 |
| Securities available for sale | 9,089,000 | 9,512,000 | 9,597,000 | 9,224,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 96,746,000 | 106,164,000 | 111,121,000 | 115,810,000 |
| Interest-bearing deposits | 65,597,000 | 73,925,000 | 77,380,000 | 82,951,000 |
| Noninterest-bearing deposits | 31,149,000 | 32,239,000 | 33,741,000 | 32,859,000 |
| Equity capital | 12,210,000 | 12,214,000 | 10,938,000 | 8,919,000 |
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 | 1,700,000 | 3,508,000 | 5,452,000 | 7,293,000 |
| Interest expense | 389,000 | 818,000 | 1,391,000 | 1,945,000 |
| Net interest income | 1,311,000 | 2,690,000 | 4,061,000 | 5,348,000 |
| Noninterest income | 510,000 | 1,003,000 | 1,799,000 | 2,253,000 |
| Noninterest expense | 1,857,000 | 3,669,000 | 5,703,000 | 7,657,000 |
| Provision for loan losses | -2,000 | 38,000 | 1,959,000 | 2,221,000 |
| Pretax income | -74,000 | -78,000 | -1,845,000 | -2,296,000 |
| Income tax | -13,000 | -13,000 | -384,000 | 1,074,000 |
| Net income | -61,000 | -65,000 | -1,461,000 | -3,370,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 11,355,000 | 11,351,000 | 9,618,000 | 9,216,000 |
| Total capital | 12,474,000 | 12,533,000 | 10,849,000 | 10,524,000 |
| Risk-weighted assets | 89,093,000 | 94,152,000 | 97,359,000 | 103,357,000 |