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Muskegon Commerce Bank

Muskegon, MI · Cert 34608

FDIC

Q4 2008

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: Q4 2008, the quarter ended December 31, 2008, 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

Muskegon Commerce Bank

Muskegon, MI · Cert 34608

FDIC

Q4 2008

$90.5MAssets
$77.3MLoans
$73.8MDeposits
$7.2MEquity
Loan mix
73%RE $51.6M26%C&I $18.7M0%Consumer $0.2MQ4 2007Q4 2008
Deposit mix
92%Interest-bearing $67.6M8%Noninterest $6.2MQ4 2007Q4 2008

NIM

7.05%Q4 ’067.11%Q4 ’075.56%Q4 ’080%-23%

Non-interest income vs. expense

2.91%Q4 ’063.75%Q4 ’073.26%Q4 ’08+40%-12%

Executive Summary

  • Earnings: ROA of -4.19%, down 330 bps year over year; NIM at 2.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.59%.
  • Funding: loans stand at 104.78% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

-4.19%-330 bps YoY

Net Interest Margin (YTD, annualized)

2.57%-77 bps YoY

Efficiency Ratio (YTD, annualized)

109.89%+1,187 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets-0.89%-1.83%-4.99%-3.40%-4.19%-330 bps
Return on Equity-9.17%-20.94%-60.90%-42.17%-52.07%-4,289 bps
Net Interest Margin3.34%2.91%2.97%2.78%2.57%-77 bps
Efficiency Ratio98.02%100.24%121.88%114.74%109.89%+1,187 bps
Non-Interest Burden3.26%2.92%3.63%3.20%2.86%-40 bps
Growth
Asset Growth (YoY)2.63%3.25%1.93%-6.63%-8.63%-1,125 bps
Loan Growth (YoY)10.66%1.24%-4.90%-6.78%-14.12%-2,478 bps
Deposit Growth (YoY)4.52%2.13%2.73%-12.53%-6.86%-1,138 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.91%1.53%4.46%2.96%2.59%+168 bps
Allowance / Loans1.96%2.50%4.20%4.36%6.98%+502 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 Capital10.67%9.72%11.10%11.35%8.51%-216 bps
Equity / Assets8.83%8.67%7.04%7.64%7.99%-85 bps
Liquidity & Funding
Loans / Deposits113.63%110.39%106.48%114.98%104.78%-886 bps
Liquid Assets / Assets0.17%0.17%0.18%0.20%7.41%+724 bps
CRE / Total Capitaln/an/an/an/an/an/an/a