Eastern Michigan Financial Corporation
Eastern Michigan Financial Corporation operates as the bank holding company for Eastern Michigan Bank that provides retail and commercial banking services to individuals and businesses in Michigan. The company offers checking and savings accounts, individual retirement accounts, time deposits, and certificates of deposit. It also provides home equity lines of credit, home equity term loans, autom… Read more
Eastern Michigan Financial Corporation (EFIN) - Net Assets
Latest net assets as of June 2025: $52.90 Million USD
Based on the latest financial reports, Eastern Michigan Financial Corporation (EFIN) has net assets worth $52.90 Million USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($504.54 Million) and total liabilities ($451.64 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $52.90 Million |
| % of Total Assets | 10.49% |
| Annual Growth Rate | 4.07% |
| 5-Year Change | 13.28% |
| 10-Year Change | 64.33% |
| Growth Volatility | 277.22 |
Eastern Michigan Financial Corporation - Net Assets Trend (2002–2024)
This chart illustrates how Eastern Michigan Financial Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Eastern Michigan Financial Corporation (2002–2024)
The table below shows the annual net assets of Eastern Michigan Financial Corporation from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $48.59 Million | +20.23% |
| 2023-12-31 | $40.42 Million | +23.74% |
| 2022-12-31 | $32.66 Million | -26.73% |
| 2021-12-31 | $44.58 Million | +3.92% |
| 2020-12-31 | $42.90 Million | +10.70% |
| 2019-12-31 | $38.75 Million | +12.40% |
| 2018-12-31 | $34.48 Million | +5.60% |
| 2017-12-31 | $32.65 Million | +6.55% |
| 2016-12-31 | $30.64 Million | +3.62% |
| 2015-12-31 | $29.57 Million | -89.56% |
| 2014-12-31 | $283.23 Million | +1.40% |
| 2013-12-31 | $279.33 Million | +1139.42% |
| 2006-12-31 | $22.54 Million | +6.61% |
| 2005-12-31 | $21.14 Million | +3.55% |
| 2004-12-31 | $20.41 Million | +5.74% |
| 2003-12-31 | $19.31 Million | -4.34% |
| 2002-12-31 | $20.18 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Eastern Michigan Financial Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 279.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $45.57 Million | 93.78% |
| Common Stock | $6.21 Million | 12.79% |
| Other Comprehensive Income | $-6.16 Million | -12.68% |
| Other Components | $2.97 Million | 6.11% |
| Total Equity | $48.59 Million | 100.00% |
Eastern Michigan Financial Corporation Competitors by Market Cap
The table below lists competitors of Eastern Michigan Financial Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Biodesix Inc
NASDAQ:BDSX
|
$50.38 Million |
|
Sajo Ind
KO:007160
|
$50.38 Million |
|
Sir Royalty Income Fund
PINK:SIRZF
|
$50.38 Million |
|
Wonbang Tech Co. Ltd.
KQ:053080
|
$50.42 Million |
|
BYC Co Ltd
KO:001465
|
$50.34 Million |
|
Hyundai Hcn
KO:126560
|
$50.33 Million |
|
Morn Sun Feed Mill Corp
TWO:1240
|
$50.32 Million |
|
Sunny Pharmtech Inc.
TWO:6676
|
$50.30 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Eastern Michigan Financial Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 40,417,000 to 48,595,000, a change of 8,178,000 (20.2%).
- Net income of 7,038,000 contributed positively to equity growth.
- Dividend payments of 2,663,000 reduced retained earnings.
- New share issuances of 15,000 increased equity.
- Other comprehensive income increased equity by 3,433,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $7.04 Million | +14.48% |
| Dividends Paid | $2.66 Million | -5.48% |
| Share Issuances | $15.00K | +0.03% |
| Other Comprehensive Income | $3.43 Million | +7.06% |
| Other Changes | $355.00K | +0.73% |
| Total Change | $- | 20.23% |
Book Value vs Market Value Analysis
This analysis compares Eastern Michigan Financial Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.09x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.54x to 1.09x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | $16.34 | $41.49 | x |
| 2003-12-31 | $16.76 | $41.49 | x |
| 2004-12-31 | $17.72 | $41.49 | x |
| 2005-12-31 | $17.91 | $41.49 | x |
| 2006-12-31 | $19.11 | $41.49 | x |
| 2013-12-31 | $23.32 | $41.49 | x |
| 2014-12-31 | $24.87 | $41.49 | x |
| 2015-12-31 | $25.64 | $41.49 | x |
| 2016-12-31 | $26.41 | $41.49 | x |
| 2017-12-31 | $27.76 | $41.49 | x |
| 2018-12-31 | $28.68 | $41.49 | x |
| 2019-12-31 | $31.87 | $41.49 | x |
| 2020-12-31 | $34.65 | $41.49 | x |
| 2021-12-31 | $35.63 | $41.49 | x |
| 2022-12-31 | $25.77 | $41.49 | x |
| 2023-12-31 | $32.21 | $41.49 | x |
| 2024-12-31 | $38.11 | $41.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Eastern Michigan Financial Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.48%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.28%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 10.72x
- Recent ROE (14.48%) is above the historical average (9.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 12.21% | 17.45% | 0.06x | 10.87x | $445.80K |
| 2003 | 9.23% | 12.71% | 0.06x | 12.01x | $-148.60K |
| 2004 | 11.19% | 17.66% | 0.06x | 11.17x | $242.50K |
| 2005 | 9.15% | 19.14% | 0.04x | 11.22x | $-175.40K |
| 2006 | 10.54% | 22.96% | 0.04x | 10.60x | $118.30K |
| 2013 | 6.87% | 19.04% | 0.03x | 10.55x | $-828.90K |
| 2014 | 6.43% | 18.77% | 0.03x | 9.98x | $-1.01 Million |
| 2015 | 6.67% | 18.58% | 0.04x | 9.92x | $-985.20K |
| 2016 | 6.85% | 18.70% | 0.03x | 10.61x | $-964.30K |
| 2017 | 7.46% | 20.82% | 0.04x | 10.09x | $-827.90K |
| 2018 | 9.00% | 23.86% | 0.04x | 10.30x | $-345.70K |
| 2019 | 10.32% | 27.46% | 0.04x | 9.65x | $125.80K |
| 2020 | 9.78% | 27.64% | 0.03x | 10.91x | $-92.70K |
| 2021 | 11.00% | 29.70% | 0.03x | 11.98x | $446.20K |
| 2022 | 11.14% | 21.78% | 0.03x | 17.25x | $370.80K |
| 2023 | 15.31% | 28.42% | 0.04x | 13.36x | $2.15 Million |
| 2024 | 14.48% | 27.28% | 0.05x | 10.72x | $2.18 Million |
Industry Comparison
This section compares Eastern Michigan Financial Corporation's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Eastern Michigan Financial Corporation (EFIN) | $52.90 Million | 12.21% | 8.54x | $50.36 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |