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Firstbank

Mount Pleasant, MI · Cert 1597

FDIC

Q1 2014

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2014, the quarter ended March 31, 2014, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Firstbank

Mount Pleasant, MI · Cert 1597

FDIC

Q1 2014

$1.2BAssets
$797.7MLoans
$1.1BDeposits
$120.3MEquity
Loan mix
74%RE $475.8M16%C&I $104.4M10%Consumer $61.3MQ1 2013Q1 2014
Deposit mix
78%Interest-bearing $827.1M22%Noninterest $233.2MQ1 2013Q1 2014

NIM

4.43%Q1 ’123.92%Q1 ’133.85%Q1 ’14-4%+1%

Non-interest income vs. expense

2.60%Q1 ’122.75%Q1 ’133.03%Q1 ’140%+28%

Executive Summary

  • Earnings: ROA of 0.80%, down 56 bps year over year; NIM at 3.54%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.35%.
  • Funding: loans stand at 75.23% of deposits as of Q1 2014.

Financial Results

Return on Assets (YTD, annualized)

0.80%-56 bps YoY

Net Interest Margin (YTD, annualized)

3.54%+3 bps YoY

Efficiency Ratio (YTD, annualized)

72.28%+1,006 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets1.35%1.28%1.24%1.11%0.80%-56 bps
Return on Equity13.86%12.97%12.58%11.33%8.19%-566 bps
Net Interest Margin3.51%3.61%3.63%3.60%3.54%+3 bps
Efficiency Ratio62.22%62.14%62.28%64.81%72.28%+1,006 bps
Non-Interest Burden1.88%1.94%1.96%2.07%2.41%+53 bps
Growth
Asset Growth (YoY)201%192.87%196.97%189.41%-1.54%-20,274 bps
Loan Growth (YoY)172.71%172.28%174.67%180.52%0.83%-17,188 bps
Deposit Growth (YoY)190.58%180.86%184.43%177.27%-1.69%-19,227 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.83%0.65%0.55%0.52%0.35%-47 bps
Allowance / Loans1.93%1.83%1.73%1.66%1.61%-32 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital14.20%13.89%14.01%13.77%13.89%-31 bps
Equity / Assets9.96%9.98%9.84%9.79%9.64%-31 bps
Liquidity & Funding
Loans / Deposits73.35%78.05%77.00%78.50%75.23%+188 bps
Liquid Assets / Assets5.70%2.30%2.07%1.87%4.43%-128 bps
CRE / Total Capitaln/an/an/an/an/an/an/a