Vitals
  • Total Assets
    1.2B -1.5 %
  • Total Deposits
    1.1B -1.7 %
  • Total Net Loans
    784.8M 1.2 %
  • Net Income
    2.5M -14.0 %
  • Book Value
    120.3M -4.6 %
  • Book Value x2
    240.6M -4.6 %
  • Book Value x3
    360.9M -4.6 %
ROAA

.8

ROAE

8.195

Efficiency Ratio

71.391

Net Interest Margin

3.836

Balance Sheet Highlights
Financial Highlights Firstbank All Insured Commercial Banks in Michigan
Balance Sheet $(000)
Total Assets 1,247,618 278,445
Total Net Loans 784,827 178,664
Total Deposits 1,060,307 237,429
Total Equity 120,306 28,933
Profitability
Net Income 2,458 554
Return on Average Assets .8 .659
Return on Average Equity 8.195 6.422
Net Interest Margin 3.836 3.782
Efficiency Ratio 71.391 76.846
Noninterest Income/Revenue 13.63 18.965
Balance Sheet Ratios
Loan-to-Deposit 74.019 72.672
Securities/Assets .254 .181
Total Equity/Total Assets .096 .104
Tangible Equity/Tangible Assets .077 .101
Capital Adequacy
Tier 1 Common Capital — —
Tier 1 Capital 99,353 27,166
Tier 2 Capital 9,868 2,228
Total Capital 109,221 29,380
Total Risk Weighted Assets 786,500 188,418
Leverage Ratio 8.21 10.368
Common Equity Tier 1 Capital Ratio — —
Tier 1 Capital Ratio 12.63 16.31
Total Capital Ratio 13.89 17.501

Timeline for Firstbank

Mercantile Bank Of Michigan

Firstbank was acquired by Mercantile Bank Of Michigan 9 years

View Profile Jul 01 2014

Mercantile Bank Corporation

Mercantile Bank Corporation became a new parent organization for Firstbank.

View Profile Jun 01 2014

Firstbank - West Michigan

Acquisition: Firstbank acquired a new subsidiary, Firstbank - West Michigan, 11 years

View Profile Feb 01 2013

Firstbank - West Branch

Acquisition: Firstbank acquired a new subsidiary, Firstbank - West Branch, 11 years

View Profile Feb 01 2013

Firstbank - Alma

Acquisition: Firstbank acquired a new subsidiary, Firstbank - Alma, 11 years

View Profile Feb 01 2013

Want to see more?

Complete timeline for Firstbank is available.

View Complete Timeline
Acquisitions & Mergers Role Assets Acct Method Type Transaction Date
Mercantile Bank Of Michigan Buyer 3,043,801 Acquisition Discontinued 7/1/2014
Firstbank - West Michigan Seller 206,501 Pooling of Interests Discontinued 2/1/2013
Firstbank - West Branch Seller 248,949 Pooling of Interests Discontinued 2/1/2013
Firstbank - Alma Seller 367,869 Pooling of Interests Discontinued 2/1/2013
Firstbank - Lakeview Seller 113,700 Pooling of Interests Discontinued 5/16/2008
Winn State Bank Seller Discontinued 7/2/1962
Relationships Role Relationship Start Relationship End
Mercantile Bank Corporation Parent 6/1/2014 6/30/2014
Firstbank Corporation Parent 9/18/1987 5/31/2014
Comerica Incorporated Parent 9/14/1982 9/17/1987
First Bank Corporation Parent 11/1/1979 9/13/1982
1St Investors Title Agency, Llc Subsidary 2/1/2013 6/30/2014
Saint J Properties, Llc Subsidary 2/1/2013 5/31/2014
Firstbank - Alma Mortgage Company Subsidary 2/1/2013 2/28/2013
Firstbank Mortgage Company Subsidary 6/30/2007 2/28/2013
Firstbank - West Branch Mortgage Company Subsidary 2/1/2013 2/28/2013
Icnb Mortgage Company, Llc Subsidary 2/1/2013 2/28/2013
Firstbank - Lakeview Mortgage Company Subsidary 5/16/2008 7/20/2008
Firstbank Mortgage Company Subsidary 6/1/2001 6/29/2007
Michigan Bankers Title Of Northern Michigan, Llc Subsidary 1/22/1998 8/31/2001
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