Institution Statistics
| The West Michigan Savings Bank | | FDIC Certificate # | 11404 | | BankRate Report | View | | Year Established | 1882 | | Employees | 12 | | Primary Regulator | FDIC |
Assets and Liabilities | | Assets | $40.50 million | | Loans | $12.85 million | | Deposits | $36.14 million | | Equity Capital | $4.09 million | | Loan Loss Allowance | $225,000 | | Unbacked Noncurrent Loans | $516,000 | | Real Estate Owned | $443,000 |
Historic Data - March 2011 | | Assets | $37.46 million | | Equity Capital | $4.13 million | | Loan Loss Allowance | $215,000 | | Unbacked Noncurrent Loans | $1.24 million | | Real Estate Owned | $310,000 |
Profit Margin - Quarterly | | Net Interest Margin | 3.34% | | Return on Assets | -0.13% | | Return on Equity | -1.26% | | Interest Income | $327,000 |
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Institution Health
Overall Score:
4 out of 5 
| Texas Ratio |  | | 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 The West Michigan Savings Bank had $959,000 in non-current loans and owned real-estate with $4.32 million in equity and loan loss allowances on hand to cover it. This gives The West Michigan Savings Bank a Texas Ratio of 22.20% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. | | Texas Ratio Trend |  | | The Texas Ratio for The West Michigan Savings Bank decreased slightly from 34.12% as of March 31, 2011 to 22.20% as of March 31, 2012, resulting in a positive change of 34.93%.This indicates that the balance sheet and financial strength for The West Michigan Savings Bank has improved slightly in recent periods. | | Deposit Growth |  | | In the past year, The West Michigan Savings Bank has increased its total deposits by $3.02 million, resulting in 9.11% 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 West Michigan Savings Bank has shown is excellent. | | Capitalization | | | 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 West Michigan Savings Bank has $40.5 million in assets with $4.32 million in equity, resulting in a capitalization level of 10.66%, which is above average. |
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