# WOLVERINE BANK FSB
MIDLAND, MI · FDIC certificate 28918 · asset band $300M-1B · latest filing 2017-09 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 2 (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 | $385.5M | |
| Deposits | $272.1M | |
| Loans and leases | $317.1M | |
| Total equity | $64.1M | |
| Loans / deposits | 113.88% (p97 of band) | 85.45% |
| Liquid assets / assets | 17.15% (p30 of band) | |
| Uninsured deposits / deposits | 36.15% (p86 of band) | 21.11% |
| Brokered deposits | 3.47% | |
| Wholesale funding | 15.40% (p82 of band) | |
| FHLB advances / assets | 10.12% | |
| Tier 1 leverage | 17.43% (p97 of band) | 10.27% |
| Unrealized securities loss / equity | 0.00% (p43 of band) | 0.09% |
| AOCI / equity | 0.00% (p8 of band) | |
| ROA (annualized) | 1.86% (p92 of band) | 0.96% |
| Net interest margin | 3.83% (p63 of band) | 3.65% |
| Efficiency ratio | 52.50% (p13 of band) | |
| Noncurrent loans | 1.28% (p79 of band) | 0.60% |
| Net charge-offs (annualized) | -0.27% (p1 of band) | |
| Reserve coverage of noncurrent | 178.75% | |
| Real estate % of loans | 95% | |
| Construction % of loans | 44.88% (p55 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p44 of band) | |
| Deposits YoY | 5.8% | |
| Employees | 50 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | loans exceed deposits, wholesale funding >15% |  |
| 2011-06 | 3 | reserve under noncurrent |  |
| 2011-09 | 3 |  |  |
| 2011-12 | 3 |  |  |
| 2012-03 | 5 | deposits shrinking, assets shrinking |  |
| 2012-06 | 6 | liquid assets <10% |  |
| 2012-09 | 6 |  |  |
| 2012-12 | 4 |  | deposits shrinking, assets shrinking |
| 2013-03 | 4 |  |  |
| 2013-06 | 3 |  | liquid assets <10% |
| 2013-09 | 3 |  |  |
| 2013-12 | 4 | liquid assets <10%, capital falling | reserve under noncurrent |
| 2014-03 | 4 |  |  |
| 2014-06 | 3 |  | liquid assets <10% |
| 2014-09 | 3 | liquid assets <10% | capital falling |
| 2014-12 | 5 | noncurrent p90, reserve under noncurrent |  |
| 2015-03 | 2 |  | liquid assets <10%, noncurrent p90, reserve under noncurrent |
| 2015-06 | 3 | capital falling |  |
| 2015-09 | 3 | liquid assets <10% | capital falling |
| 2015-12 | 3 | brokered >10% | liquid assets <10% |
| 2016-03 | 4 | capital falling |  |
| 2016-06 | 3 | liquid assets <10% | brokered >10%, capital falling |
| 2016-09 | 2 |  | liquid assets <10% |
| 2016-12 | 2 |  |  |
| 2017-03 | 2 |  |  |
| 2017-06 | 2 |  |  |
| 2017-09 | 2 |  |  |

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

- nothing found for that search

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=28918 (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/54.json (key "28918", 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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