Bank of Alpena

Headquarters

468 Ripley Boulevard
Alpena, MI 49707
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 3.05% →
1-Year CD N.A. 3.30% →
2-Year CD N.A. 3.56% →
5-Year CD N.A. 3.75% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

Bank of Alpena is an FDIC insured institution located in Alpena, MI. It was founded in 2001 and has approximately $0.07 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57029
Date Established 2001
Assets $ 69.05 million
Loans $ 34.07 million
Deposits $ 61.69 million
Capital $ 7.13 million
 

For a more detailed analysis of Bank of Alpena's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 26, 2022

Your Current Location: Virginia, VA 20146

 

Loan Rates - September 26, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of Alpena

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
6.254% 6.125%
1.00 points
$3,452 fees
$1,520 Learn More
Rocket Mortgage
NMLS ID: 3030
6.998% 6.875%
0.75 points
$3,125 fees
$1,643 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
7.022% 6.875%
1.00 points
$3,750 fees
$1,643 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 5.740 %
After Intro: 6.750 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to Bank of Alpena
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Branches

Bank of Alpena branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Bank of Alpena Locations



Climate Initiatives

Bank of Alpena is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Bank of Alpena Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Alpena. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank of Alpena U.S. Bank Average
23.92% 4.01%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2022, Bank of Alpena had $1,729,000 in non-current loans and $136,000 in owned real estate. To cover these potential losses it had $7,131,000 in equity and $666,000 in loans loss reserves. That gives it a Texas Ratio of 23.92%.

Return on Equity
Bank of Alpena U.S. Bank Average
4.68% 9.01%

Bank of Alpena has a Return on Equity of 4.68% versus the BestCashCow average of 9.01%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Bank of Alpena U.S. Bank Average
10.33% 10.66%

Bank of Alpena has a Capitalization of 10.33% versus the BestCashCow average of 10.66. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank of Alpena Balance Sheet Analysis

As of June 30, 2014, Bank of Alpena had assets of $69,046,000, loans of $34,073,000, and deposits of $61,689,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2022
ASSETS
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 34.07 million
Loan loss allowance $ 0.67 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.14 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 61.69 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 69.05 million

Summary Income Statement

March 31, 2022
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Bank of Alpena’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Michigan, Bank of Alpena has a significantly higher percent of Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 33.81
Multifamily
Mortgages
0.23
Credit Card Loans 0.00
Consumer Auto Loans 0.46
Small Business Loans 26.71
Construction and Development Loans 4.70
Commercial Real Estate 44.84
Commercial and Industrial Loans 16.75
Farm Loans 0.07

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