September 21, 2017 4:40 PM ET

Banks

Company Overview of Birmingham Bloomfield Bancshares, Inc.

Company Overview

As of January 6, 2017, Birmingham Bloomfield Bancshares, Inc. was acquired by Arbor Bancorp, Inc.

33583 Woodward Avenue

Birmingham, MI 48009

United States

Founded in 2004

Phone:

248-723-7200

Key Executives for Birmingham Bloomfield Bancshares, Inc.

Birmingham Bloomfield Bancshares, Inc. does not have any Key Executives recorded.

Birmingham Bloomfield Bancshares, Inc. Key Developments

Birmingham Bloomfield Bancshares Deleted From Other OTC

Birmingham Bloomfield Bancshares, Inc. common stock deleted from Other OTC, effective January 9, 2017. The deletion was due to Acquisition/Merger/Amalgamation.

Birmingham Bloomfield Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Month Periods Ended September 30, 2016; Reports Net Charge- Off for the Third Quarter Ended September 30, 2016

Birmingham Bloomfield Bancshares Inc. reported unaudited consolidated earnings results for the third quarter and nine month periods ended September 30, 2016. For the quarter, the company reported total interest income was $3,065,043 against $2,641,436 a year ago. Net interest income after provision for loan losses was $2,636,200 against $2,322,573 a year ago. Net income before income taxes was $948,828 against $804,323 a year ago. Net Income applicable to common shareholders was $617,992 against $512,332 a year ago. Income per share - basic & diluted was $0.33 against $0.27 a year ago. Return on average assets (annualized) was 0.88% compared to 0.89% a year ago. Return on average common equity (annualized) was 21.16% compared to 19.22% a year ago. For the nine months, the company reported total interest income was $8,736,385 against $7,428,700 a year ago. Net interest income after provision for loan losses was $6,708,936 against $6,007,337 a year ago, the increase was the direct result of earning asset growth. Net income before income taxes was $1,807,071 against $2,172,191 a year ago. Net Income applicable to common shareholders was $1,180,336 against $1,388,381 a year ago. Income per share - basic & diluted was $0.63 against $0.74 a year ago. Book value per share as at September 30, 2016 was $9.92 against $8.99 a year ago. The company reported a pre-tax, pre-provision ROA of 1.31% and experienced an increase of 28% in total assets. The company reported net charge- off was $280,000 for the third quarter ended September 30, 2016.

Birmingham Bloomfield Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Birmingham Bloomfield Bancshares Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net income of $249,000 or $0.13 per common share for the second quarter of 2016 compared to net income of $588,000 or $0.31 per common share for the same period of 2015. The company reported net interest income of $2.489 million for the second quarter of 2016, a 16.3% increase compared to the same quarter of 2015 and 3.8% increase from the first quarter of 2016. Net interest margin for the quarter was 3.82% compared to 3.85% for the most recent linked quarter and 4.00% for March 31, 2015. The margin compression is a result of the competitive market conditions affecting loan pricing and additional funding costs associated with the term debt facility. Total interest income was $2,879,188 against $2,450,315 a year ago. Net income before income taxes was $381,257 against $912,003 a year ago. For the six months, the company reported net income for the six month period ended June 30, 2016 was $562,000 or $0.30 per common share compared to $876,000 or $0.47 per common share for the same period last year. The reduction in earnings is a function of higher provision, decrease in SBA sale revenue and additional operating costs. Net interest income for the first six months of 2016 was $4.888 million, an increase of 16.1% relative to the same period of 2015. The increase was the direct result of earning asset growth. Total interest income was $5,671,342 against $4,787,264 a year ago. Net income before income taxes was $858,243 against $1,367,870 a year ago. Return on average assets (annualized) was 0.42% against 0.83% a year ago. Return on average common equity (annualized) was 6.37% against 11.50% a year ago. Book value per share was $9.59 against $8.71 a year ago.

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