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Overview / Commentary
989-269-9531
One East Huron Avenue
Bad Axe, MI 48413

Signature Bank (MI) is headquartered in Bad Axe and is the 57th largest bank in the state of Michigan. It is also the 2,719st largest bank in the nation. It was established in 1894 and as of March of 2014, it had grown to 98 employees at 8 locations. Signature Bank (MI) has a C+ health rating.

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Health

Data for Q1 2014

Institution Health

C+

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Signature Bank (MI) had $9.76 million in non-current loans and owned real-estate with $25.6 million in equity and loan loss allowances on hand to cover it. This gives Signature Bank (MI) a Texas Ratio of 38.10% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Signature Bank (MI) increased slightly from 27.98% as of March 31, 2013 to 38.10% as of March 31, 2014, resulting in a negative change of 36.20%. This indicates that the balance sheet and financial strength for Signature Bank (MI) has declined slightly in recent periods.

Deposit Growth

GRADE:
B

In the past year, Signature Bank (MI) has increased its total deposits by $1.88 million, resulting in 0.92% 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 Signature Bank (MI) has shown is above average.

Capitalization

GRADE:
A

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. Signature Bank (MI) has $232.71 million in assets with $25.6 million in equity, resulting in a capitalization level of 11.00%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #10936
Year Established1894
Employees98
Primary RegulatorFDIC
Assets and Liabilities
Assets$232.71 million
Loans$166.04 million
Deposits$205.77 million
Equity Capital$21.16 million
Loan Loss Allowance$4.45 million
Unbacked Noncurrent Loans$7.66 million
Real Estate Owned$2.10 million
Historic Data - March 2013
Assets$230.83 million
Equity Capital$20.99 million
Loan Loss Allowance$5.10 million
Unbacked Noncurrent Loans$7.66 million
Real Estate Owned$2.01 million
Profit Margin - Quarterly
Net Interest Margin4.05%
Return on Assets0.05%
Return on Equity0.61%
Interest Income$2.42 million
Rates

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Signature Bank (MI) Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--AFT Payment Christmas Club Savings Account
0.20%$500-Health Savings Account
0.10%--Book Payment Christmas Club Savings Account
0.05%--Statement Savings Account

Signature Bank (MI) Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Signature Money Market Account
0.15%$100k-Insured Money Market Fund

Signature Bank (MI) Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$500k-Municipal Interest First Checking Account
0.05%$300-Interest First Checking Account

Signature Bank (MI) CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60-71 Month Fixed CD
0.70%$1k-48-59 Month Fixed CD
0.50%$1k-36-47 Month Fixed CD
0.40%$1k-24-35 Month Fixed CD
0.30%$1k-12-23 Month Fixed CD
0.23%$50k-12 Month Variable CD
0.10%$1k-6 Month Fixed CD
0.05%$1k-1-2 Month Fixed CD
0.05%$1k-3-5 Month Fixed CD

Signature Bank (MI) IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60-71 Month Fixed Conduit IRA
0.70%$1k-48-59 Month Fixed Conduit IRA
0.50%$1k-36-47 Month Fixed Conduit IRA
0.40%$1k-24-35 Month Fixed Conduit IRA
0.30%$1k-12-23 Month Fixed Conduit IRA
0.23%$50k-12 Month Variable IRA
0.23%$50k-12 Month Variable Conduit IRA
0.10%$1k-6 Month Fixed Conduit IRA
0.05%$1k-1-2 Month Fixed Conduit IRA
0.05%$1k-3-5 Month Fixed Conduit IRA
Locations


Signature Bank (MI) Locations
Harbor Beach Branch106 South HuronHarbor Beach, MI 48441
Genesee Street Branch170 West Genesee StreetFrankenmuth, MI 48734
Caro Branch345 North State StreetCaro, MI 48723
Port Hope Branch4474 Main StreetPort Hope, MI 48468
Sandusky Branch520 West Sanilac RoadSandusky, MI 48471
Sebewaing Branch668 Unionville RoadSebewaing, MI 48759
North Van Dyke Branch833 North Van DykeBad Axe, MI 48413
Signature BankOne East Huron AvenueBad Axe, MI 48413