Lotus Bank
Novi, MI — Domestic Branch of a Domestic Bank
Acquired Mar 2015
Vitals
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Total Assets107.5M 14.8 %
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Total Deposits93.3M 16.6 %
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Total Net Loans76.8M 8.5 %
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Net Income435000.0000 -34.2 %
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Book Value11.8M 6.0 %
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Book Value x223.7M 6.0 %
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Book Value x335.5M 6.0 %
Balance Sheet Highlights
| Financial Highlights | Lotus Bank | All Insured Commercial Banks in Michigan |
| Balance Sheet $(000) | ||
| Total Assets | 107,515 | 277,560 |
| Total Net Loans | 76,785 | 183,072 |
| Total Deposits | 93,339 | 232,939 |
| Total Equity | 11,848 | 29,840 |
| Profitability | ||
| Net Income | 435 | 2,636 |
| Return on Average Assets | .431 | .807 |
| Return on Average Equity | 3.763 | 7.464 |
| Net Interest Margin | 3.785 | 3.836 |
| Efficiency Ratio | 81.004 | 75.309 |
| Noninterest Income/Revenue | 3.257 | 20.656 |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 82.265 | 75.158 |
| Securities/Assets | .13 | .188 |
| Total Equity/Total Assets | .11 | .108 |
| Tangible Equity/Tangible Assets | .11 | .104 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 11,475 | 27,827 |
| Tier 2 Capital | 1,070 | 2,263 |
| Total Capital | 12,545 | 30,075 |
| Total Risk Weighted Assets | 85,489 | 193,304 |
| Leverage Ratio | 10.97 | 10.409 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 13.42 | 16.22 |
| Total Capital Ratio | 14.67 | 17.374 |
Timeline for Lotus Bank
Lotus Bank
Lotus Bank was established 17 years ago and is currently headquartered in Novi, MI.
Feb 28 2007
Lotus Bancorp, Inc.
Lotus Bancorp, Inc. became a new parent organization for Lotus Bank.
View Profile Feb 28 2007| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Level One Bank | Buyer | 1,103,254 | Acquisition | Discontinued | 3/1/2015 |
| Relationships | Role | Relationship Start | Relationship End |
| Lotus Bancorp, Inc. | Parent | 2/28/2007 | 2/28/2015 |
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