Call reports 2008
BANK OF NORTHERN MICHIGAN, THE — 2008
What BANK OF NORTHERN MICHIGAN, THE 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 | 278,213,000 | 294,459,000 | 335,537,000 | 344,424,000 |
| Total loans | 223,611,000 | 231,210,000 | 245,864,000 | 260,117,000 |
| Allowance for loan losses | 2,622,000 | 2,799,000 | 2,700,000 | 2,694,000 |
| Securities available for sale | 37,103,000 | 45,535,000 | 43,972,000 | 60,812,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 221,947,000 | 232,550,000 | 274,720,000 | 275,273,000 |
| Interest-bearing deposits | 218,420,000 | 225,749,000 | 269,936,000 | 270,173,000 |
| Noninterest-bearing deposits | 3,527,000 | 6,801,000 | 4,784,000 | 5,100,000 |
| Equity capital | 23,082,000 | 22,732,000 | 25,370,000 | 25,993,000 |
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 | 4,273,000 | 8,456,000 | 12,806,000 | 17,294,000 |
| Interest expense | 2,566,000 | 4,938,000 | 7,351,000 | 9,773,000 |
| Net interest income | 1,707,000 | 3,518,000 | 5,455,000 | 7,521,000 |
| Noninterest income | 272,000 | 888,000 | 1,091,000 | 1,223,000 |
| Noninterest expense | 1,687,000 | 3,261,000 | 4,792,000 | 6,300,000 |
| Provision for loan losses | 290,000 | 550,000 | 810,000 | 1,070,000 |
| Pretax income | 242,000 | 828,000 | 1,227,000 | 1,793,000 |
| Income tax | 62,000 | 251,000 | 372,000 | 552,000 |
| Net income | 180,000 | 577,000 | 855,000 | 1,241,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 23,150,000 | 23,530,000 | 25,803,000 | 26,179,000 |
| Total capital | 25,772,000 | 26,330,000 | 28,503,000 | 28,873,000 |
| Risk-weighted assets | 238,182,000 | 248,803,000 | 266,835,000 | 272,021,000 |