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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 : 7/10

vs
industry
vs
history
Cash to Debt 0.13
FFNM's Cash to Debt is ranked higher than
52% of the 1369 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.49 vs. FFNM: 0.13 )
FFNM' s 10-Year Cash to Debt Range
Min: 0.04   Max: No Debt
Current: 0.13

Equity to Asset 0.11
FFNM's Equity to Asset is ranked higher than
81% of the 1759 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.09 vs. FFNM: 0.11 )
FFNM' s 10-Year Equity to Asset Range
Min: 0.08   Max: 0.13
Current: 0.11

0.08
0.13
Interest Coverage 0.05
FFNM's Interest Coverage is ranked lower than
53% of the 1628 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.27 vs. FFNM: 0.05 )
FFNM' s 10-Year Interest Coverage Range
Min: 0.05   Max: 0.33
Current: 0.05

0.05
0.33
F-Score: 5
Z-Score: 0.12
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 : 5/10

vs
industry
vs
history
Operating margin (%) 3.51
FFNM's Operating margin (%) is ranked higher than
52% of the 1784 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 29.51 vs. FFNM: 3.51 )
FFNM' s 10-Year Operating margin (%) Range
Min: -56.67   Max: 23.12
Current: 3.51

-56.67
23.12
Net-margin (%) 3.51
FFNM's Net-margin (%) is ranked higher than
52% of the 1784 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.58 vs. FFNM: 3.51 )
FFNM' s 10-Year Net-margin (%) Range
Min: -68.11   Max: 25.07
Current: 3.51

-68.11
25.07
ROE (%) 1.28
FFNM's ROE (%) is ranked higher than
52% of the 1791 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.52 vs. FFNM: 1.28 )
FFNM' s 10-Year ROE (%) Range
Min: -25.78   Max: 11.1
Current: 1.28

-25.78
11.1
ROA (%) 0.14
FFNM's ROA (%) is ranked higher than
53% of the 1791 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.81 vs. FFNM: 0.14 )
FFNM' s 10-Year ROA (%) Range
Min: -2.81   Max: 0.8
Current: 0.14

-2.81
0.8
ROC (Joel Greenblatt) (%) 5.89
FFNM's ROC (Joel Greenblatt) (%) is ranked higher than
53% of the 1765 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 76.03 vs. FFNM: 5.89 )
FFNM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -82.42   Max: 12.5
Current: 5.89

-82.42
12.5
Revenue Growth (%) -7.30
FFNM's Revenue Growth (%) is ranked higher than
59% of the 1557 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.20 vs. FFNM: -7.30 )
FFNM' s 10-Year Revenue Growth (%) Range
Min: 0   Max: 13.1
Current: -7.3

0
13.1
EBITDA Growth (%) -23.70
FFNM's EBITDA Growth (%) is ranked higher than
55% of the 1406 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.50 vs. FFNM: -23.70 )
FFNM' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 70
Current: -23.7

0
70
EPS Growth (%) -37.00
FFNM's EPS Growth (%) is ranked higher than
54% of the 1416 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.90 vs. FFNM: -37.00 )
FFNM' s 10-Year EPS Growth (%) Range
Min: 0   Max: -5.7
Current: -37

» FFNM's 10-Y Financials

Financials


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

» Details

Insider Trades

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Ratios

vs
industry
vs
history
P/E(ttm) 48.10
FFNM's P/E(ttm) is ranked higher than
51% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.80 vs. FFNM: 48.10 )
FFNM' s 10-Year P/E(ttm) Range
Min: 8.46   Max: 391.43
Current: 48.1

8.46
391.43
P/B 0.60
FFNM's P/B is ranked higher than
91% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.15 vs. FFNM: 0.60 )
FFNM' s 10-Year P/B Range
Min: 0.07   Max: 1.87
Current: 0.6

0.07
1.87
P/S 1.66
FFNM's P/S is ranked higher than
87% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.08 vs. FFNM: 1.66 )
FFNM' s 10-Year P/S Range
Min: 0.25   Max: 3.34
Current: 1.66

0.25
3.34
PFCF 13.51
FFNM's PFCF is ranked higher than
75% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9999.00 vs. FFNM: 13.51 )
FFNM' s 10-Year PFCF Range
Min: 0.92   Max: 566.47
Current: 13.51

0.92
566.47
EV-to-EBIT 119.08
FFNM's EV-to-EBIT is ranked higher than
57% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 17.06 vs. FFNM: 119.08 )
FFNM' s 10-Year EV-to-EBIT Range
Min: -356.8   Max: 701
Current: 119.08

-356.8
701

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.60
FFNM's Dividend Yield is ranked lower than
69% of the 1506 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.40 vs. FFNM: 1.60 )
FFNM' s 10-Year Dividend Yield Range
Min: 0.36   Max: 8
Current: 1.6

0.36
8
Dividend Payout 0.56
FFNM's Dividend Payout is ranked higher than
60% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.47 vs. FFNM: 0.56 )
FFNM' s 10-Year Dividend Payout Range
Min: 0.25   Max: 5
Current: 0.56

0.25
5
Yield on cost (5-Year) 1.60
FFNM's Yield on cost (5-Year) is ranked lower than
69% of the 1519 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.70 vs. FFNM: 1.60 )
FFNM' s 10-Year Yield on cost (5-Year) Range
Min: 0.36   Max: 8
Current: 1.6

0.36
8

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 0.61
FFNM's Price/Tangible Book is ranked higher than
92% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.33 vs. FFNM: 0.61 )
FFNM' s 10-Year Price/Tangible Book Range
Min: 0.09   Max: 2.19
Current: 0.61

0.09
2.19
Price/DCF (Projected) 0.54
FFNM's Price/DCF (Projected) is ranked higher than
86% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.15 vs. FFNM: 0.54 )
FFNM' s 10-Year Price/DCF (Projected) Range
Min: 0.07   Max: 5.13
Current: 0.54

0.07
5.13
Price/Median PS Value 1.18
FFNM's Price/Median PS Value is ranked higher than
66% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. FFNM: 1.18 )
FFNM' s 10-Year Price/Median PS Value Range
Min: 0.22   Max: 2.96
Current: 1.18

0.22
2.96
Price/Graham Number 1.14
FFNM's Price/Graham Number is ranked higher than
67% of the 1928 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.05 vs. FFNM: 1.14 )
FFNM' s 10-Year Price/Graham Number Range
Min: 0.42   Max: 3.86
Current: 1.14

0.42
3.86
Earnings Yield (Greenblatt) 0.80
FFNM's Earnings Yield (Greenblatt) is ranked lower than
58% of the 1575 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.30 vs. FFNM: 0.80 )
FFNM' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 5.6
Current: 0.8

0.1
5.6
Forward Rate of Return (Yacktman) 5.53
FFNM's Forward Rate of Return (Yacktman) is ranked higher than
61% of the 1413 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.52 vs. FFNM: 5.53 )
FFNM' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -26.5   Max: 200.5
Current: 5.53

-26.5
200.5

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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