The First State Bank, White Cloud, Michigan
White Cloud, MI
$36.4M
total assets, December 31, 1987
$36.4M
total assets, December 31, 1987
The First State Bank, White Cloud, Michigan was a state nonmember bank in White Cloud, MI. It failed on Feb 12, 1988, and Peoples STB Of ST Joseph took over its deposits. At its last report it held $36.4 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 1987
This bank failed
- Failed on
- Feb 12, 1988
- Assets
- $36.4M
- Deposits
- $37.4M
- Estimated cost
- $10.5M
- Deposits went to
- Peoples STB Of ST Joseph, ST. Joseph, MI
Total assets
$36.4M
+9.8% in a year · -14.1% in a quarter
Deposits
$37.4M
+27.2% in a year · -1.3% in a quarter
Loans
$31.0M
+11.0% in a year · -13.6% in a quarter
Profit so far
-$4.7M
Jan 1 to Dec 31, 1987 · -724.4% in a year
Capital ratio
-2.96%
-13.32 pts in a year
Return on assets
-12.25%
-14.56 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1075 Wilcox Avenue, White Cloud, MI, 49349
- County
- Newaygo
- Established
- Jul 1, 1910
- Failed
- Feb 12, 1988
- Employees
- 19
- Id
- b10155
Quarter by quarter
March 31, 1984 to December 31, 1987
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is The First State Bank, White Cloud, Michigan?
$36.4 million in total assets and $37.4 million in deposits as of December 31, 1987, with assets up 9.8% from a year before. Its loans were $31.0 million.
Is The First State Bank, White Cloud, Michigan profitable?
No: it lost $4.65 million from January 1 to December 31, 1987. Its return on assets was -12.25% a year; about 1% is typical.
When did The First State Bank, White Cloud, Michigan fail?
Feb 12, 1988. Peoples STB Of ST Joseph of ST. Joseph, MI took over its deposits. The estimated cost of the failure was $10.5 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.