Call reports 2003
BANK OF NORTHERN MICHIGAN, THE — 2003
What BANK OF NORTHERN MICHIGAN, THE reported to the FFIEC in 2003, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Total assets | 120,685,000 | 129,713,000 | 134,162,000 | 140,702,000 |
| Total loans | 105,532,000 | 113,295,000 | 116,216,000 | 118,308,000 |
| Allowance for loan losses | 1,448,000 | 1,506,000 | 1,565,000 | 1,619,000 |
| Securities available for sale | 9,116,000 | 9,075,000 | 10,805,000 | 12,810,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 105,055,000 | 113,490,000 | 119,083,000 | 120,439,000 |
| Interest-bearing deposits | 98,465,000 | 103,164,000 | 109,028,000 | 112,374,000 |
| Noninterest-bearing deposits | 6,590,000 | 10,326,000 | 10,055,000 | 8,065,000 |
| Equity capital | 10,600,000 | 10,932,000 | 11,169,000 | 11,414,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Interest income | 1,720,000 | 3,547,000 | 5,391,000 | 7,203,000 |
| Interest expense | 891,000 | 1,766,000 | 2,617,000 | 3,461,000 |
| Net interest income | 829,000 | 1,781,000 | 2,774,000 | 3,742,000 |
| Noninterest income | 381,000 | 780,000 | 1,302,000 | 1,505,000 |
| Noninterest expense | 757,000 | 1,543,000 | 2,455,000 | 3,223,000 |
| Provision for loan losses | 58,000 | 116,000 | 175,000 | 233,000 |
| Pretax income | 395,000 | 902,000 | 1,461,000 | 1,806,000 |
| Income tax | 137,000 | 311,000 | 504,000 | 624,000 |
| Net income | 258,000 | 591,000 | 957,000 | 1,182,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Tier 1 capital | 10,559,000 | 10,884,000 | 11,268,000 | 11,510,000 |
| Total capital | 11,897,000 | 12,331,000 | 12,752,000 | 13,023,000 |
| Risk-weighted assets | 106,937,000 | 115,717,000 | 118,613,000 | 120,903,000 |