Lotus Bank is a State chartered full service commercial bank headquartered in Novi, Michigan.  The bank serves the city of Novi, Michigan, and the surrounding areas, including Commerce Township, Farmington, Farmington Hills, Northville, West Bloomfield, Walled Lake and Wixom, and offers a broad range of commercial and consumer banking services to small- and medium-sized businesses, licensed professionals and individuals.  Lotus Bank was established on February 28, 2007 and has been FDIC insured since that time.  Lotus Bank is chartered as a Federal Reserve Non-member.  Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).

The bank has total assets of $34,350,000 and total deposits of $25,953,000 as of December 31, 2008.  The bank ended 2008 with a net loss of -$1,390,000.  Lotus Bank has approximately 12 total full-time equivalent employees.

Lotus Bank most recent performance ratios.
As of December 31, 2008:

Yield on earning assets 5.19% 
Cost of funding earning assets 1.82% 
Net interest margin 3.36%
Return on assets (ROA) -5.80%
Return on equity (ROE) -15.48%
Noncurrent loans to loans 0
Equity capital to assets 24.16% 
Core capital (leverage) ratio 27.64% 
Tier 1 risk-based capital ratio 27.00% 
Total risk-based capital ratio 28.02%

Lotus Bank products and services:

Lotus Bank grants mortgage, commercial and consumer loans to customers.  A large portion of the loan portfolio is represented by commercial and commercial real estate loans in Oakland County, Michigan and the surrounding region.  The bank provides customary retail and commercial banking services to its customers, including standard checking accounts interest bearing checking account, 50+ checking account, money market accounts, premium money market accounts, savings accounts, certificates of deposit, safe deposit facilities, commercial loans, real estate mortgage loans, jumbo mortgage loans, adjustable rate mortgages, installment loans, IRAs and night depository facilities, new or used boat loans, recreational vehicle loans, motorcycle loans, personal loans, home equity loans or home equity lines of credit as well as overdraft protection lines of credit.

Lotus Bank branch bank locations:

Lotus Bank
44350 Twelve Mile Road
Novi, MI 48377
Telephone (248) 735-1000
Fax (248) 735-3830

Lotus Bank web address: www.lotusbank.net

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