Call reports 2002
BANK OF NORTHERN MICHIGAN, THE — 2002
What BANK OF NORTHERN MICHIGAN, THE reported to the FFIEC in 2002, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2002Q1 | 2002Q2 | 2002Q3 | 2002Q4 |
|---|---|---|---|---|
| Total assets | 94,398,000 | 110,945,000 | 117,358,000 | 121,392,000 |
| Total loans | 82,493,000 | 94,708,000 | 97,039,000 | 105,504,000 |
| Allowance for loan losses | 1,079,000 | 1,182,000 | 1,286,000 | 1,390,000 |
| Securities available for sale | 9,887,000 | 10,385,000 | 10,139,000 | 10,507,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 81,527,000 | 97,571,000 | 105,526,000 | 106,552,000 |
| Interest-bearing deposits | 77,635,000 | 91,097,000 | 98,891,000 | 98,914,000 |
| Noninterest-bearing deposits | 3,892,000 | 6,474,000 | 6,635,000 | 7,638,000 |
| Equity capital | 7,404,000 | 8,333,000 | 9,096,000 | 9,633,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2002Q1 | 2002Q2 | 2002Q3 | 2002Q4 |
|---|---|---|---|---|
| Interest income | 1,500,000 | 3,135,000 | 4,927,000 | 6,750,000 |
| Interest expense | 817,000 | 1,698,000 | 2,643,000 | 3,571,000 |
| Net interest income | 683,000 | 1,437,000 | 2,284,000 | 3,179,000 |
| Noninterest income | 214,000 | 373,000 | 704,000 | 1,061,000 |
| Noninterest expense | 651,000 | 1,264,000 | 1,909,000 | 2,662,000 |
| Provision for loan losses | 104,000 | 207,000 | 311,000 | 415,000 |
| Pretax income | 142,000 | 339,000 | 768,000 | 1,163,000 |
| Income tax | 49,000 | 117,000 | 265,000 | 405,000 |
| Net income | 93,000 | 222,000 | 503,000 | 758,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2002Q1 | 2002Q2 | 2002Q3 | 2002Q4 |
|---|---|---|---|---|
| Tier 1 capital | 7,402,000 | 8,294,000 | 9,075,000 | 9,578,000 |
| Total capital | 8,409,000 | 9,470,000 | 10,296,000 | 10,892,000 |
| Risk-weighted assets | 80,480,000 | 94,099,000 | 97,647,000 | 105,020,000 |