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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 1.34
FFNM's Cash to Debt is ranked lower than
52% of the 966 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.47 vs. FFNM: 1.34 )
Ranked among companies with meaningful Cash to Debt only.
FFNM' s 10-Year Cash to Debt Range
Min: 0.04  Med: 0.13 Max: N/A
Current: 1.34
Equity to Asset 0.09
FFNM's Equity to Asset is ranked lower than
58% of the 1319 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. FFNM: 0.09 )
Ranked among companies with meaningful Equity to Asset only.
FFNM' s 10-Year Equity to Asset Range
Min: 0.08  Med: 0.11 Max: 0.13
Current: 0.09
0.08
0.13
Interest Coverage 2.08
FFNM's Interest Coverage is ranked higher than
57% of the 1229 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.65 vs. FFNM: 2.08 )
Ranked among companies with meaningful Interest Coverage only.
FFNM' s 10-Year Interest Coverage Range
Min: 0.05  Med: 0.12 Max: 2.08
Current: 2.08
0.05
2.08
F-Score: 5
WACC vs ROIC
4.01%
6.16%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating margin (%) 19.57
FFNM's Operating margin (%) is ranked lower than
74% of the 1381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 29.90 vs. FFNM: 19.57 )
Ranked among companies with meaningful Operating margin (%) only.
FFNM' s 10-Year Operating margin (%) Range
Min: -56.67  Med: 4.91 Max: 23.12
Current: 19.57
-56.67
23.12
Net-margin (%) 19.57
FFNM's Net-margin (%) is ranked lower than
57% of the 1381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.60 vs. FFNM: 19.57 )
Ranked among companies with meaningful Net-margin (%) only.
FFNM' s 10-Year Net-margin (%) Range
Min: -68.11  Med: 3.56 Max: 25.07
Current: 19.57
-68.11
25.07
ROE (%) 8.52
FFNM's ROE (%) is ranked higher than
51% of the 1384 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.41 vs. FFNM: 8.52 )
Ranked among companies with meaningful ROE (%) only.
FFNM' s 10-Year ROE (%) Range
Min: -25.78  Med: 1.68 Max: 11.1
Current: 8.52
-25.78
11.1
ROA (%) 0.84
FFNM's ROA (%) is ranked higher than
51% of the 1392 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.84 vs. FFNM: 0.84 )
Ranked among companies with meaningful ROA (%) only.
FFNM' s 10-Year ROA (%) Range
Min: -2.81  Med: 0.17 Max: 0.84
Current: 0.84
-2.81
0.84
ROC (Joel Greenblatt) (%) 40.85
FFNM's ROC (Joel Greenblatt) (%) is ranked lower than
69% of the 1374 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 77.18 vs. FFNM: 40.85 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
FFNM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -82.42  Med: 3.90 Max: 38.98
Current: 40.85
-82.42
38.98
Revenue Growth (3Y)(%) 2.70
FFNM's Revenue Growth (3Y)(%) is ranked higher than
55% of the 1170 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.00 vs. FFNM: 2.70 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
FFNM' s 10-Year Revenue Growth (3Y)(%) Range
Min: 0  Med: -4.05 Max: 13.1
Current: 2.7
0
13.1
EBITDA Growth (3Y)(%) 22.50
FFNM's EBITDA Growth (3Y)(%) is ranked higher than
81% of the 1029 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.40 vs. FFNM: 22.50 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
FFNM' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0  Med: -27.65 Max: 22.5
Current: 22.5
0
22.5
EPS Growth (3Y)(%) 41.70
FFNM's EPS Growth (3Y)(%) is ranked higher than
88% of the 1036 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.60 vs. FFNM: 41.70 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
FFNM' s 10-Year EPS Growth (3Y)(%) Range
Min: 0  Med: -33.20 Max: 41.7
Current: 41.7
0
41.7
» FFNM's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

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Ratios

vs
industry
vs
history
P/E(ttm) 8.90
FFNM's P/E(ttm) is ranked higher than
80% of the 1245 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. FFNM: 8.90 )
Ranked among companies with meaningful P/E(ttm) only.
FFNM' s 10-Year P/E(ttm) Range
Min: 7.5  Med: 45.71 Max: 391.43
Current: 8.9
7.5
391.43
PE(NRI) 8.80
FFNM's PE(NRI) is ranked higher than
80% of the 1242 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.90 vs. FFNM: 8.80 )
Ranked among companies with meaningful PE(NRI) only.
FFNM' s 10-Year PE(NRI) Range
Min: 7.46  Med: 45.10 Max: 548
Current: 8.8
7.46
548
P/B 0.77
FFNM's P/B is ranked higher than
76% of the 1350 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. FFNM: 0.77 )
Ranked among companies with meaningful P/B only.
FFNM' s 10-Year P/B Range
Min: 0.07  Med: 0.56 Max: 1.29
Current: 0.77
0.07
1.29
P/S 1.70
FFNM's P/S is ranked higher than
80% of the 1367 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.97 vs. FFNM: 1.70 )
Ranked among companies with meaningful P/S only.
FFNM' s 10-Year P/S Range
Min: 0.25  Med: 1.40 Max: 2.45
Current: 1.7
0.25
2.45
PFCF 16.41
FFNM's PFCF is ranked lower than
68% of the 801 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.49 vs. FFNM: 16.41 )
Ranked among companies with meaningful PFCF only.
FFNM' s 10-Year PFCF Range
Min: 0.92  Med: 9.73 Max: 566.47
Current: 16.41
0.92
566.47
POCF 13.06
FFNM's POCF is ranked lower than
65% of the 911 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.73 vs. FFNM: 13.06 )
Ranked among companies with meaningful POCF only.
FFNM' s 10-Year POCF Range
Min: 0.82  Med: 9.26 Max: 85.21
Current: 13.06
0.82
85.21
EV-to-EBIT 6.92
FFNM's EV-to-EBIT is ranked higher than
83% of the 1371 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.11 vs. FFNM: 6.92 )
Ranked among companies with meaningful EV-to-EBIT only.
FFNM' s 10-Year EV-to-EBIT Range
Min: -356.8  Med: 25.30 Max: 701
Current: 6.92
-356.8
701
Days Sales Outstanding 32.68
FFNM's Days Sales Outstanding is ranked higher than
52% of the 768 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 34.05 vs. FFNM: 32.68 )
Ranked among companies with meaningful Days Sales Outstanding only.
FFNM' s 10-Year Days Sales Outstanding Range
Min: 30.44  Med: 45.40 Max: 72.72
Current: 32.68
30.44
72.72

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.24
FFNM's Dividend Yield is ranked lower than
81% of the 2188 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.63 vs. FFNM: 1.24 )
Ranked among companies with meaningful Dividend Yield only.
FFNM' s 10-Year Dividend Yield Range
Min: 0.36  Med: 2.44 Max: 19.48
Current: 1.24
0.36
19.48
Dividend Payout 0.11
FFNM's Dividend Payout is ranked higher than
92% of the 1279 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. FFNM: 0.11 )
Ranked among companies with meaningful Dividend Payout only.
FFNM' s 10-Year Dividend Payout Range
Min: 0.04  Med: 0.69 Max: 5
Current: 0.11
0.04
5
Yield on cost (5-Year) 1.24
FFNM's Yield on cost (5-Year) is ranked lower than
82% of the 2173 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.04 vs. FFNM: 1.24 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
FFNM' s 10-Year Yield on cost (5-Year) Range
Min: 0.36  Med: 2.44 Max: 19.48
Current: 1.24
0.36
19.48
Share Buyback Rate -1.80
FFNM's Share Buyback Rate is ranked lower than
53% of the 933 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.50 vs. FFNM: -1.80 )
Ranked among companies with meaningful Share Buyback Rate only.
FFNM' s 10-Year Share Buyback Rate Range
Min: 0  Med: -0.05 Max: -24.4
Current: -1.8

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 0.82
FFNM's Price/Tangible Book is ranked higher than
76% of the 1329 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.17 vs. FFNM: 0.82 )
Ranked among companies with meaningful Price/Tangible Book only.
FFNM' s 10-Year Price/Tangible Book Range
Min: 0.09  Med: 0.75 Max: 2.19
Current: 0.82
0.09
2.19
Price/Projected FCF 0.66
FFNM's Price/Projected FCF is ranked higher than
54% of the 759 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.68 vs. FFNM: 0.66 )
Ranked among companies with meaningful Price/Projected FCF only.
FFNM' s 10-Year Price/Projected FCF Range
Min: 0.07  Med: 0.46 Max: 5.13
Current: 0.66
0.07
5.13
Price/Median PS Value 1.22
FFNM's Price/Median PS Value is ranked lower than
63% of the 1232 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.09 vs. FFNM: 1.22 )
Ranked among companies with meaningful Price/Median PS Value only.
FFNM' s 10-Year Price/Median PS Value Range
Min: 0.22  Med: 1.18 Max: 2.95
Current: 1.22
0.22
2.95
Price/Graham Number 0.60
FFNM's Price/Graham Number is ranked higher than
77% of the 1122 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.87 vs. FFNM: 0.60 )
Ranked among companies with meaningful Price/Graham Number only.
FFNM' s 10-Year Price/Graham Number Range
Min: 0.42  Med: 1.26 Max: 3.86
Current: 0.6
0.42
3.86
Earnings Yield (Greenblatt) (%) 14.27
FFNM's Earnings Yield (Greenblatt) (%) is ranked higher than
84% of the 1343 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.70 vs. FFNM: 14.27 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
FFNM' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 0.1  Med: 1.40 Max: 17.1
Current: 14.27
0.1
17.1
Forward Rate of Return (Yacktman) (%) -5.86
FFNM's Forward Rate of Return (Yacktman) (%) is ranked lower than
82% of the 758 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.31 vs. FFNM: -5.86 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
FFNM' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -51.1  Med: 6.10 Max: 160.8
Current: -5.86
-51.1
160.8

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
First Federal of Northern Michigan Bancorp, Inc., a Maryland corporation was incorporated in 1957. The Company is a holding company for First Federal of Northern Michigan which is a full-service, community-oriented savings bank. The Bank provides financial services to individuals, families and businesses from eight full-service facilities located in Alpena, Antrim, Cheboygan, Emmett, Iosco, Otsego, Montmorency and Oscoda Counties, Michigan. First Federal of Northern Michigan's business consists mainly of accepting deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in one -to-four-family residential mortgage loans, commercial real estate loans, commercial business loans, consumer loans and in investment securities and mortgage-backed securities. First Federal of Northern Michigan conducts operations through its main office in Alpena, Michigan, which is located in the northeastern lower peninsula of Michigan, and through its seven other branch offices in Michigan. The largest part of the company's loan portfolio is mortgage loans secured by one- to four-family residential real estate. Bancorp also originate commercial loans, commercial real estate loans and consumer loans. The company originates a variety of consumer and other loans, including loans secured by savings accounts, new and used automobiles, mobile homes, boats, recreational vehicles, and other personal property. It originates construction loans to local home builders in its market area, generally with whom the company has an established relationship, and to individuals engaged in the construction of its residence. First Federal of Northern Michigan Bancorp, Inc.'s only direct subsidiary is First Federal of Northern Michigan. First Federal of Northern Michigan has two wholly owned subsidiaries. One subsidiary, Financial Services & Mortgage Corporation, leases, sells, develops and maintains real estate properties. The Company encounters strong competition both in attracting deposits and in originating real estate and other loans. Its direct competition for deposits has historically come from commercial banks, other savings institutions, and credit unions in its market area. Competition for loans comes from such financial institutions. It competes for savings deposits by offering depositors a high level of personal service and a range of competitively priced financial products. It competes for real estate loans primarily on the basis of the interest rates and fees it charges and through advertising. Interest and other charges collected or contracted for by First Federal of Northern Michigan are subject to state usury laws and federal laws concerning interest rates. First Federal of Northern Michigan's operations are also subject to federal laws applicable to credit transactions.
» More Articles for FFNM

Headlines

Articles On GuruFocus.com
low price/ bv Mar 10 2012 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) Nov 15 2010 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) Aug 16 2010 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) May 17 2010 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) Nov 16 2009 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) Aug 14 2009 
First Federal of Northern Michigan Banco Reports Operating Results (10-Q) May 15 2009 
First Federal of Northern Michigan Bancorp, Inc. Announces Suspension of Quarterly Dividend Dec 16 2008 

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