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Overview / Commentary
517-664-1912
1600 Abbott Road
East Lansing, MI 48823

Summit Community Bank is headquartered in East Lansing and is the 77th largest bank in the state of Michigan. It is also the 3,575th largest bank in the nation. It was established in 2002 and as of December of 2013, it had grown to 68 employees at 2 locations. Summit Community Bank has a A health rating.

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
B+

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 December 31, 2013 Summit Community Bank had $2.62 million in non-current loans and owned real-estate with $18.38 million in equity and loan loss allowances on hand to cover it. This gives Summit Community Bank a Texas Ratio of 14.23% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Summit Community Bank decreased slightly from 18.37% as of December 31, 2012 to 14.23% as of December 31, 2013, resulting in a positive change of 22.50%.This indicates that the balance sheet and financial strength for Summit Community Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Summit Community Bank has increased its total deposits by $7.31 million, resulting in 6.23% 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 Summit Community Bank has shown is excellent.

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. Summit Community Bank has $159.66 million in assets with $18.38 million in equity, resulting in a capitalization level of 11.51%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #57401
Year Established2002
Employees68
Primary RegulatorFDIC
Assets and Liabilities
Assets$159.66 million
Loans$134.22 million
Deposits$124.66 million
Equity Capital$16.71 million
Loan Loss Allowance$1.67 million
Unbacked Noncurrent Loans$1.83 million
Real Estate Owned$788,000
Historic Data - December 2012
Assets$160.68 million
Equity Capital$15.39 million
Loan Loss Allowance$1.95 million
Unbacked Noncurrent Loans$1.83 million
Real Estate Owned$1.22 million
Profit Margin - Quarterly
Net Interest Margin4.16%
Return on Assets1.16%
Return on Equity11.58%
Interest Income$6.94 million
Rates

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Locations


Summit Community Bank Locations
Summit Community Bank1600 Abbott RoadEast Lansing, MI 48823
Summit Community Bank Branch2151 West Grand RiverOkemos, MI 48864