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| Auto Club Trust, FSB |
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| General | FDIC Certificate #: 35115
Status: Active
Federal Reserve ID: 2860459
Date Established: 1999-11-30
WWW: http://www.autoclubgroup.commichigan/
Trust Powers Granted: Yes
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 15850
FDIC's unique #: 74904
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: 1999-11-30
Last Structure Change Effective Date: 2006-03-31
Last Structure Change Process Date: 2006-11-03
Last Data Update: 2006-11-03
Data Source Date: 2009-05-14 |
| Location | Address: One Auto Club Drive, Dearborn, MI 48126
County: Wayne
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Detroit
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Detroit, MI (#2160)
Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35)
Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220)
Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820)
CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820)
Core Based Statistical Division: Detroit-Livonia-Dearborn, MI (#19804) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $6.4 mil
Equity capital: $5.8 mil
Deposits held in domestic offices: $0.5 mil
Return on assets (ROA): 5.12% ($0.3 mil)
Quarterly return on assets: 6.95% ($0.4 mil)
Return on Equity (ROE): 5.66% ($0.3 mil)
Quarterly return on equity: 7.64% ($0.5 mil)
Net income: $0.3 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 5.30% ($337.5 mil)
Quarterly Pretax return on assets: 7.15% ($455.3 mil) |
2000 - 2008 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
(Dollar figures in thousands) |
| Total employees (full-time equivalent) | 1 |
| Total assets | $6,368 |
| Cash and due from depository institutions | $773 |
| Interest-bearing balances | $773 |
| Securities | $5,432 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $0 |
| Loan loss allowance | $0 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $0 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $163 |
| Life insurance assets | $0 |
| Total liabilities and capital | $6,368 |
| Total liabilities | $535 |
| Total deposits | $500 |
| Interest-bearing deposits | $500 |
| Deposits held in domestic offices | $500 |
| % insured (estimated) | 104.20% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $35 |
| Total equity capital | $5,833 |
| Total bank equity capital | $5,833 |
| Perpetual preferred stock | $0 |
| Common stock | $2,342 |
| Surplus | $4,957 |
| Undivided profits | $-1,466 |
| Memoranda |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $22 |
| Earning assets | $6,205 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $6,209 |
| Average Assets, quarterly | $6,270 |
| Volatile liabilities | $500 |
| Insider loans | $0 |
| FHLB advances | $0 |
| Loans and leases held for sale | $0 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $5,670 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $1,281 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $0 |
| Derivatives | $0 |
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Income and Expense (December 31, 2008)
(Dollar figures in thousands) |
| Total interest income | $271 |
| Total interest expense | $20 |
| Net interest income | $251 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $1,159 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $1,159 |
| Total noninterest expense | $1,081 |
| Salaries and employee benefits | $494 |
| Premises and equipment expense | $251 |
| Additional noninterest expense | $336 |
| Pre-tax net operating income | $329 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $11 |
| Income before extraordinary items | $318 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $318 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $318 |
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands) |
| Performance Ratios (%, annualized) |
| Yield on earning assets | 4.56% |
| Cost of funding earning assets | 0.34% |
| Net interest margin | 4.22% |
| Noninterest income to earning assets | 19.48% |
| Noninterest expense to earning assets | 18.17% |
| Net operating income to assets | 5.12% |
| Return on assets (ROA) | 5.12% |
| Pretax return on assets | 5.30% |
| Return on equity (ROE) | 5.66% |
| Retained earnings to average equity (YTD only) | 5.66% |
| Net charge-offs to loans | 0.00% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 76.67% |
| Assets per employee | $6,368 |
| Cash dividends to net income (YTD only) | 0.00% |
| Condition Ratios (%) |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 0.00% |
| Noncurrent assets plus other real estate owned to assets | 0.00% |
| Noncurrent loans to loans | 0.00% |
| Net loans and leases to deposits | 0.00% |
| Net loans and leases to core deposits | 0.00% |
| Equity capital to assets | 91.60% |
| Core capital (leverage) ratio | 91.38% |
| Tier 1 risk-based capital ratio | 442.62% |
| Total risk-based capital ratio | 442.62% |
| Memoranda |
| Average assets | $6,209 |
| Average earning assets | $5,948 |
| Average equity | $0 |
| Average loans | $5,618 |
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Total Fiduciary and Related Assets (December 31, 2008)
(Dollar figures in thousands) |
| Total fiduciary and related assets | $25,927 |
| Number of Fiduciary Accounts and Related Asset Accounts | 270 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $25,464 |
| Number of Accounts | 264 |
| Personal trust and agency accounts | $1,521 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $14,768 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $9,175 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $463 |
| Number of Accounts | 6 |
| Personal trust and agency accounts | $460 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Other fiduciary accounts | $3 |
| Fiduciary accounts held in foreign offices | $0 |
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| 1 Michigan Branch as of 2009-05-14 |
| No | ID | Name | Address | Established | Service Type | Map |
|---|
| 0 | 74904 | Auto Club Trust, Fsb | One Auto Club Drive, Dearborn, MI 48126 | 1999-11-30 | Full Service Brick and Mortar |  |
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