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The First National Bank of St. Ignace

Based on 1 review
The First National Bank of St. Ignace
Overview / Commentary
906-643-6800
132 North State Street
St. Ignace, MI 49781

The First National Bank of St. Ignace is headquartered in St. Ignace and is the 54th largest bank in the state of Michigan. It is also the 2,691st largest bank in the nation. It was established in 1888 and as of June of 2014, it had grown to 55 employees at 7 locations. The First National Bank of St. Ignace has a B+ health rating.

Reviews (1)

Customer Service

Service is excellent in Cedarville, a local bank with heart and style!



Health

Data for Q2 2014

Institution Health

B+

Texas Ratio

GRADE:
B

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 June 30, 2014 The First National Bank of St. Ignace had $5.02 million in non-current loans and owned real-estate with $25.34 million in equity and loan loss allowances on hand to cover it. This gives The First National Bank of St. Ignace a Texas Ratio of 19.82% which is above 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 The First National Bank of St. Ignace experienced no significant changes from 19.29% as of June 30, 2013 to 19.82% as of June 30, 2014, resulting in a negative change of 2.73%. This indicates that the balance sheet and financial strength for The First National Bank of St. Ignace has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, The First National Bank of St. Ignace has increased its total deposits by $7.69 million, resulting in 3.86% 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 The First National Bank of St. Ignace has shown is excellent.

Capitalization

GRADE:
B+

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. The First National Bank of St. Ignace has $234.46 million in assets with $25.34 million in equity, resulting in a capitalization level of 10.81%, which is above average.

Institution Statistics

Overall
FDIC Certificate #5074
Year Established1888
Employees55
Primary RegulatorOCC
Assets and Liabilities
Assets$234.46 million
Loans$86.01 million
Deposits$206.93 million
Equity Capital$24.05 million
Loan Loss Allowance$1.29 million
Unbacked Noncurrent Loans$2.65 million
Real Estate Owned$2.37 million
Historic Data - June 2013
Assets$226.10 million
Equity Capital$22.57 million
Loan Loss Allowance$1.36 million
Unbacked Noncurrent Loans$2.65 million
Real Estate Owned$2.51 million
Profit Margin - Quarterly
Return on Assets0.54%
Return on Equity5.42%
Interest Income$4.01 million
Rates

Sorry, we do not have rate data for The First National Bank of St. Ignace

Locations


The First National Bank of St. Ignace Locations
Newberry Branch1014 Newberry AvenueNewberry, MI 49868
The First National Bank Of St. Ignace132 North State StreetSt. Ignace, MI 49781
Cedarville Branch192 South Meridian StreetCedarville, MI 49719
North Bay Branch580 North State StreetSt. Ignace, MI 49781
Mackinac Island Branch7399 Market StreetMackinac Island, MI 49757
Moran Township Branch920 West Us-2Saint Ignace, MI 49781
West Mackinac BranchW11635 US Highway 2Naubinway, MI 49762