Firstbank (MI)

Firstbank (MI) Locations
102 South Main Street
Mt. Pleasant, MI 48858
www.firstbank-mtp.com

Firstbank (MI) is headquartered in Mt. Pleasant and is the 25th largest bank in the state of Michigan. It is also the 1,591st largest bank in the nation. It was established in 1894 and as of March of 2012, it had grown to 92 employees at 15 locations. Firstbank (MI) has a 4-star health rating.

Related Posts

$50 Checking Account Bonus with No Direct Deposit at FirstBank - CO, AZ & CA Only - 6/5/2009

FirstBank is having a checking account promotion with a $50 bonus for opening a checking account. According to the instructions, the $50 award will be given at account opening. The $50 bonus isn't that much, but unlike bonuses from other banks, this is...

3.50% 24-Month CD at FirstBank - Nationally Available - 1/28/2009

FirstBank is offering some competitive long-term CD rates. These include a 3.50% APY for 24 months, 3.75% APY for 42 months and 4.00% APY for 60 months. Minimum deposit is $10,000. These rates are listed at the bank's Premier Time Account Page as of...

$50 Checking Account Bonus at FirstBank - 7/16/2008

FirstBank is having a checking account promotion in which you can get a $50 gas card for opening a Free checking account. According to the instructions, you'll automatically have the gas card mailed to you once you open the checking account online. The...

High-Yield Reward Checking Account at a Tennessee Bank (FirstBank) - 6/26/2007

Update 3/31/08: The top yield has fallen to 4.07% APY. Refer to the bottom of the post for the rate history.FirstBank is offering a reward checking account it calls FirstReward Checking (see pdf). With the typical reward checking requirements, you can...


Data for Q1 2012


Institution Statistics


Firstbank
FDIC Certificate #1597
BankRate ReportView
Year Established1894
Employees92
Primary RegulatorFDIC

Assets and Liabilities

Assets$420.68 million
Loans$286.16 million
Deposits$371.17 million
Equity Capital$39.36 million
Loan Loss Allowance$3.91 million
Unbacked Noncurrent Loans$7.47 million
Real Estate Owned$831,000

Historic Data - March 2011

Assets$400.96 million
Equity Capital$37.82 million
Loan Loss Allowance$4.11 million
Unbacked Noncurrent Loans$8.51 million
Real Estate Owned$1.69 million

Profit Margin - Quarterly

Net Interest Margin3.89%
Return on Assets1.06%
Return on Equity11.33%
Interest Income$4.62 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Firstbank (MI) had $8.3 million in non-current loans and owned real-estate with $43.27 million in equity and loan loss allowances on hand to cover it. This gives Firstbank (MI) a Texas Ratio of 19.18% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Firstbank (MI) decreased slightly from 24.34% as of March 31, 2011 to 19.18% as of March 31, 2012, resulting in a positive change of 21.19%.This indicates that the balance sheet and financial strength for Firstbank (MI) has improved slightly in recent periods.
Deposit Growth4
In the past year, Firstbank (MI) has increased its total deposits by $16.74 million, resulting in 4.72% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Firstbank (MI) has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Firstbank (MI) has $420.68 million in assets with $43.27 million in equity, resulting in a capitalization level of 10.29%, which is above average.
Write Review

No reviews have been left for this bank yet. Be the first to review.


 
Featured Accounts
Nationwide Savings Accounts