Signature Bank, Financial Information

About Signature Bank

 Address:
One East Huron Avenue
Bad Axe, MI
Huron County, Michigan
 Established:
Jan 1894
 Number of domestic offices:
8
Total assets$229M
Net income$1M
Net income, quarterly$1M
Total deposits$203M
Domestic deposits$203M
Equity capital$21M
ROA0.38%
ROAQ, quarterly0.98%
ROA, pretax0.98%
ROAQ, quarterly, pretax0.98%
ROE4.5%
ROEQ, quarterly11.06%
UpdatedApr 11, 2013

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

In 1970, a small group of local businessmen organized to form First National Bank of Bad Axe in order to provide an alternative for local businesses and residents in what was then a "one bank" town. Upon receiving approval from all the regulating agencies, the bank opened for business in December 1970. This was the bank’s Main Office, which is located on the corner of East Huron Avenue and North Port Crescent Street in downtown Bad Axe.

A branch office was added on the northern outskirts of Bad Axe in 1976. Further expansion saw the opening of a branch in Harbor Beach in 1980 and in Sebewaing in 1983. The holding company, First of Huron Corp., was formed in 1981, of which First National Bank of Bad Axe was a wholly-owned subsidiary.

In November of 1991, the holding company purchased the State Bank of Port Hope. On June 25, 1993 State Bank of Port Hope and First National Bank of Bad Axe merged under the name of "Signature Bank." The combined bank operated under the 1895 charter of State Bank of Port Hope. 1993 also saw the construction of a new Main Office facility. In 1995, a full service office was opened in Ubly.

In 1997, Signature Bank added the convenience of "banking where you shop" with the opening of new offices inside the Farmer Jack stores in Sandusky and Caro. A new Operations Center was opened near Cass City in 1999. It was believed that the strategic location of the new Operations Center would increase opportunities to expand market boundaries. A Loan Production Office was opened in Sandusky in 2000.

In 2005, the bank became a full service office in Frankenmuth and in 2006, Signature Bank opened the second Frankenmuth office on North Main with "walk in", "drive-up", and a drive-up ATM. In 2009, Signature Bank opened its new Frankenmuth office on West Genesee. Signature Bank is proud to continue the tradition of being a locally owned community bank.

Main Office
One East Huron Avenue, Bad Axe, MI 48413-1371
Phone: 989-269-9531
Fax: 989-269-1878

Caro
345 North State Street, Caro, MI 48723-1537
Phone: 989-673-6152
Fax: 989-673-6475

Frankenmuth
170 West Genesee Street, Frankenmuth, MI 48734-1134
Phone: 989-652-1129
Fax: 989-652-2868

Harbor Beach
106 South Huron Avenue, Harbor Beach, MI 48441-1201
Phone: 989-479-3255
Fax: 989-479-9552

North Van Dyke
833 N. Van Dyke, Bad Axe, MI 48413-9016
Phone: 989-269-9211
Fax: 989-269-6261

Port Hope
4474 Main Street, Port Hope, MI 48468-0186
Phone: 989-428-4111
Fax: 989-428-4496

Sandusky
520 West Sanilac Road, Sandusky, MI 48471-9616
Phone: 810-648-3947
Fax: 810-648-4136

Sebewaing
668 Unionville Road, Sebewaing, MI 48759-0667
Phone: 989-883-2400
Fax: 989-883-9541