# WEST MICHIGAN SAVINGS BANK
BANGOR, MI · FDIC certificate 11404 · asset band <$300M · latest filing 2015-03 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 7 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $35.9M | |
| Deposits | $32.7M | |
| Loans and leases | $11.8M | |
| Total equity | $2.7M | |
| Loans / deposits | 35.48% (p8 of band) | 70.43% |
| Liquid assets / assets | 66.13% (p92 of band) | |
| Uninsured deposits / deposits | 6.09% (p16 of band) | 13.33% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p19 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 8.23% (p10 of band) | 10.49% |
| Unrealized securities loss / equity | 9.58% (p95 of band) | 1.32% |
| AOCI / equity | 2.19% (p91 of band) | |
| ROA (annualized) | -4.21% (p0 of band) | 0.80% |
| Net interest margin | 3.05% (p22 of band) | 3.57% |
| Efficiency ratio | 235.97% (p100 of band) | |
| Noncurrent loans | 8.05% (p98 of band) | 0.77% |
| Net charge-offs (annualized) | -0.11% (p5 of band) | |
| Reserve coverage of noncurrent | 22.95% | |
| Real estate % of loans | 84% | |
| Construction % of loans | 2.08% (p22 of band) | |
| Auto loans | $384,000 (3.25% of loans; DQ 6.51%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -5.9% | |
| Employees | 11 | |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **noncurrent p90** (`aq_noncurrent`)
- **reserve under noncurrent** (`aq_reserve`)
- **deposits shrinking** (`shrink_deposits`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | noncurrent p90, reserve under noncurrent |  |
| 2011-06 | 2 |  |  |
| 2011-09 | 3 | capital falling |  |
| 2011-12 | 2 |  | noncurrent p90 |
| 2012-03 | 4 | losing money, expense ratio p90 |  |
| 2012-06 | 3 |  | capital falling |
| 2012-09 | 2 |  | losing money |
| 2012-12 | 3 | uninsured deposits leaving |  |
| 2013-03 | 4 | losing money |  |
| 2013-06 | 4 | noncurrent p90 | uninsured deposits leaving |
| 2013-09 | 4 |  |  |
| 2013-12 | 5 | capital falling |  |
| 2014-03 | 7 | deposits shrinking, assets shrinking |  |
| 2014-06 | 4 |  | capital falling, deposits shrinking, assets shrinking |
| 2014-09 | 7 | deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2014-12 | 6 |  | uninsured deposits leaving |
| 2015-03 | 7 | uninsured deposits leaving |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2018-11-29 [Obituary information for Terrence "Terry" James Burghardt - Langeland Funeral Homes](https://news.google.com/rss/articles/CBMiigFBVV95cUxNTEd1anJMTm8zZWM2TUZ5Q3ZCV2RSLVRiRlNfVjMtTkNQQV9HZXlXYVVtenQyVFhUVkUyMGlYSVE0X2V2MjZxRklyTk5QcFhkTkZpdW90ejVfS0xTVzI1OUloek8tR3JOcUNsdzZyd3ZnVlgtT3IzckVGZmRaOU91eW0xdnlMelZiUWc?oc=5) · Langeland Funeral Homes
- 2014-10-11 [Leslie MERRIMAN Obituary (2014) - Bangor, MI - Kalamazoo Gazette - MLive.com](https://news.google.com/rss/articles/CBMikwFBVV95cUxOQkd5ZVNOZHdfQVFPUlExdld4aHlLY1dILV9UbTR2ZVVzdXdZVjBQSWVOajhreHB6RkcyX1dHZG1OcHdJdjJ2M1dBOEZjVUxfM25RQjRHZnBkMTdsaVU2WjdITEVKVG9YMTZqek9QeV9QZ3NCejViRFQ3YjE3d1l3d244QzBjZXh0NjhYOUNkbmJiNEk?oc=5) · MLive.com
- 2021-03-17 [Paul Naz Obituary - Grosse Pointe Woods, MI - Dignity Memorial](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPeVp0ZWM2UGd1X3dBWndwUEhSVlQ4QWpkWms5eXp4YlhfZjlQV0RubjF0aXhfQ0huUE9IQmhiWTNVSGRMSUs5RUI5Rmp3d1UwdzZOTjZBbVEtcnE1QmhIM2w4R1hmZm1ydU5MNGk2Y3JNYUdGOU5hcmpta1FMX1VLZG1tSnRyNlV3WHIw?oc=5) · Dignity Memorial

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=11404 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/12.json (key "11404", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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