Dearborn Bancorp Reports Second Quarter Results
Dearborn Bancorp (NASDAQ:DEAR)
Intraday Stock Chart
Heute : Tuesday 20 July 2010
Dearborn Bancorp, Inc. (Nasdaq:DEAR), the Holding Company for Fidelity Bank ("Bank"), today reported a net loss of $13,629,000 or $(1.78) per fully diluted common share for the three months ended June 30, 2010 compared to a net loss of $9,075,000 or $(1.19) per share for the three months ended June 30, 2009. For the six months ended June 30, 2010, the Company's net loss was $12,501,000 or $(1.63) compared to a net loss of $15,324,000 or $(2.00) for the same period in 2009. The Company's Shareholders' Equity of $29,963,000 equates to a book value of $3.90 per share compared to the market closing price of $1.87 on June 30, 2010. In accordance with regulatory capital guidelines, the Bank remains "undercapitalized" at June 30, 2010.
At June 30, 2010, the Company's total assets were $933,113,000, representing a decline of 5.72 percent over the preceding 12 months. Total deposits increased 1.78 percent over the previous year and stood at $827,664,000 when the second quarter ended. Total loans were $783,032,000 on June 30, 2010, 11.28 percent less than they had been on the same date in 2009. Strong emphasis is being placed on collection and maintenance of the existing loan portfolio and new lending has been curtailed to conserve capital.
Michael J. Ross, President and Chief Executive Officer of both the Company and the Bank, announced the financial results and commented, "During the second quarter, charge-offs were $10.5 million and were all related to the reappraisal or reevaluation of collateral on already identified substandard classified loans. The corresponding provision for loan losses was $11.8 million for the second quarter which brought the total allowance for loan losses to $31.6 million or 4.03% of total loans. During the second quarter, loans restructured under troubled debt guidelines increased by $6.8 million as the Bank continues to work with borrowers to repay their loans. Non-accruing loans declined by $7.2 million and other real estate owned declined by $491,000 resulting in a decline in overall non-performing assets of $842,000 for the second quarter."
Ross continued, "The carrying value of other real estate owned was written down by $3.7 million due to the reappraisal or reevaluation of foreclosed collateral. Defaulted loan expense including taxes, insurance, maintenance and legal was $1.1 million during the quarter."
Ross concluded, "The core operations of the Company continue to produce income to offset the high cost of FDIC insurance and the holding costs of other real estate owned. The level of future unknown charge-offs remains the determining factor as to whether the Company can be profitable in future quarters. Thus, our primary concerns for 2010 are the Michigan economy, credit quality, and the stability or improvement of the underlying collateral values in our loan portfolio."
Dearborn Bancorp, Inc. is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. The Bank operates 17 offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. Its common shares trade on the Nasdaq Global Market under the symbol DEAR.
Forward-Looking Statements
This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "is likely," "plans," "projects," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Future Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Actual results and outcomes may materially differ from what is expressed in forward-looking statements. Dearborn Bancorp undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events (whether anticipated or unanticipated), or otherwise.
Future Factors include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies, trends in customer behavior as well as their ability to repay loans; actions by bank regulators; availability of capital; changes in local real estate values; changes in the national and local economy; and other factors, including risk factors disclosed from time to time in filings made by Dearborn Bancorp with the Securities and Exchange Commission. These are representative of the Future Factors and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars, in thousands)
6/30/2010 12/31/2009 6/30/2009
ASSETS
Cash and cash equivalents
Cash and due from banks $7,088 $7,803 $25,475
Federal funds sold 57 156 1,425
Interest bearing deposits with banks 67,056 69,538 18,454
Total cash and cash equivalents 74,201 77,497 45,354
Mortgage loans held for sale 1,169 1,129 60
Securities available for sale 46,171 45,964 3,257
Securities held to maturity 336 336 ---
Federal Home Loan Bank stock 3,698 3,698 3,698
Loans
Loans 783,032 833,136 882,568
Allowance for loan losses (31,574) (35,125) (22,422)
Net loans 751,458 798,011 860,146
Premises and equipment, net 19,724 20,194 20,784
Real estate owned 23,976 23,435 17,434
Other intangible assets --- --- 4,195
Accrued interest receivable 3,181 3,562 3,512
Other assets 9,199 12,660 31,360
Total assets $933,113 $986,486 $989,800
LIABILITIES
Deposits
Non-interest bearing deposits $91,447 $83,873 $83,752
Interest bearing deposits 736,217 784,082 729,415
Total deposits 827,664 867,955 813,167
Other liabilities
Securities sold under agreements to repurchase --- --- 2,206
Federal Home Loan Bank advances 63,799 63,855 73,955
Accrued interest payable 941 1,046 1,104
Other liabilities 746 1,685 1,491
Subordinated debentures 10,000 10,000 10,000
Total liabilities 903,150 944,541 901,923
STOCKHOLDERS' EQUITY
Common stock - no par value 100,000,000 shares
authorized, 7,685,704 at 6/30/10, 7,687,470
shares at 12/31/09 and 7,687,470 shares at 6/30/09 131,991 131,929 131,866
Retained earnings (accumulated deficit) (102,350) (89,850) (43,998)
Accumulated other comprehensive income (loss) 322 (134) 9
Total stockholders' equity 29,963 41,945 87,877
Total liabilities and stockholders' equity $933,113 $986,486 $989,800
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF OPERATIONS (unaudited)
(In thousands, except share data) Three Months Ended Six Months Ended
6/30/2010 6/30/2009 6/30/2010 6/30/2009
Interest income
Interest on loans $11,536 $13,286 $23,314 $27,096
Interest on securities, available for sale 157 178 325 434
Interest on deposits with banks 64 103 101 197
Interest on federal funds --- 6 1 12
Total interest income 11,757 13,573 23,741 27,739
Interest expense
Interest on deposits 2,925 5,458 6,468 11,456
Interest on other liabilities 376 578 762 1,229
Total interest expense 3,301 6,036 7,230 12,685
Net interest income 8,456 7,537 16,511 15,054
Provision for loan losses 11,803 13,610 11,903 24,337
Net interest income (loss) after provision for loan losses (3,347) (6,073) 4,608 (9,283)
Non-interest income
Service charges on deposit accounts 380 375 723 730
Fees for other services to customers 49 37 85 62
Gain on the sale of loans 66 160 124 216
Gain on the sale of securities --- 270 69 465
Gain (loss) on the sale of real estate owned 43 (32) 32 (3)
Loss on the write-down of real estate owned (3,693) (1,506) (4,349) (1,860)
Other income 78 125 180 147
Total non-interest income (3,077) (571) (3,136) (243)
Non-interest expense
Salaries and employee benefits 3,078 3,208 6,197 6,498
Occupancy and equipment expense 777 916 1,631 1,850
Amortization of intangible expense --- 199 --- 397
FDIC assessment 1,125 833 2,075 1,181
Advertising and marketing 33 59 60 129
Stationery and supplies 75 109 147 220
Professional services 306 173 472 364
Data processing 174 238 360 466
Defaulted loan expense 1,054 926 2,089 1,687
Other operating expenses 583 442 942 822
Total non-interest expense 7,205 7,103 13,973 13,614
Income before federal income tax expense (13,629) (13,747) (12,501) (23,140)
Income tax expense (benefit) --- (4,672) --- (7,816)
Net loss ($13,629) ($9,075) ($12,501) ($15,324)
Per share data:
Net loss - basic ($1.78) ($1.19) ($1.63) ($2.00)
Net loss - diluted ($1.78) ($1.19) ($1.63) ($2.00)
Weighted average number of shares outstanding - basic 7,645,940 7,644,207 7,645,940 7,644,198
Weighted average number of shares outstanding - diluted 7,645,940 7,644,207 7,645,940 7,644,198
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(Dollars, in thousands)
Quarter Ended
6/30/10 3/31/10 12/31/09 9/30/09 6/30/09
ASSETS
Cash and cash equivalents
Cash and due from banks $7,088 $8,047 $7,803 $17,330 $25,475
Federal funds sold 57 57 156 6,206 1,425
Interest bearing deposits with banks 67,056 70,898 69,538 117,732 18,454
Total cash and cash equivalents 74,201 79,002 77,497 141,268 45,354
Mortgage loans held for sale 1,169 758 1,129 1,449 60
Securities 46,507 46,267 46,300 13,910 4,007
Federal Home Loan Bank stock 3,698 3,698 3,698 3,698 3,698
Loans
Loans 783,032 813,961 833,136 862,664 881,818
Allowance for loan loss (31,574) (30,288) (35,125) (28,373) (22,422)
Net loans 751,458 783,673 798,011 834,291 859,396
Bank premises and equipment, net 19,724 19,973 20,194 20,477 20,784
Other real estate 23,976 24,467 23,435 15,472 17,434
Other intangible assets --- --- --- --- 4,195
Accrued interest receivable 3,181 3,595 3,562 3,619 3,512
Other assets 9,199 9,266 12,660 8,153 31,360
Total assets $933,113 $970,699 $986,486 $1,042,337 $989,800
LIABILITIES
Deposits
Non-interest bearing deposits $91,447 $86,407 $83,873 $89,329 $83,752
Interest bearing deposits 736,217 765,610 784,082 815,625 729,415
Total deposits 827,664 852,017 867,955 904,954 813,167
Other liabilities
Securities sold under agreements to repurchase --- --- --- 2,302 2,206
Federal Home Loan Bank advances 63,799 63,799 63,855 73,855 73,955
Other liabilities 942 956 1,685 2,380 1,104
Accrued interest payable 745 747 1,046 956 1,491
Subordinated debentures 10,000 10,000 10,000 10,000 10,000
Total liabilities 903,150 927,519 944,541 994,447 901,923
Total stockholders' equity 29,963 43,180 41,945 47,890 87,877
Total liabilities and stockholders' equity $933,113 $970,699 $986,486 $1,042,337 $989,800
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF OPERATIONS
(Dollars, in thousands) Quarter ended
6/30/2010 3/31/2010 12/31/2009 9/30/2009 6/30/2009
INTEREST INCOME
Interest on loans, including fees $11,536 $11,778 $13,042 $13,135 $13,286
Interest on other earning assets 221 206 226 111 287
Total interest income 11,757 11,984 13,268 13,246 13,573
INTEREST EXPENSE
Interest on deposits 2,925 3,543 4,731 4,806 5,458
Interest on other liabilities 376 386 531 614 578
Total interest expense 3,301 3,929 5,262 5,420 6,036
Net interest income 8,456 8,055 8,006 7,826 7,537
Provision for loan loss 11,803 100 12,341 14,185 13,610
Net interest income (loss) after provision for loan loss (3,347) 7,955 (4,335) (6,359) (6,073)
NON-INTEREST INCOME
Deposit service charges 429 379 412 421 412
Gain on the sale of loans 66 58 99 37 160
Loss on the sale or write-down of real estate (3,650) (667) (249) (793) (1,538)
Other 78 171 112 (265) 395
Total non-interest income (loss) (3,077) (59) 374 (600) (571)
NON-INTEREST EXPENSE
Salaries and employee benefits 3,078 3,119 3,317 3,159 3,208
Occupancy and equipment expense 777 854 870 903 916
Impairment of goodwill and other intangible assets --- --- --- 3,997 ---
Other expense 3,350 2,795 3,109 3,751 2,979
Total non-interest expense 7,205 6,768 7,296 11,810 7,103
Income (loss) before income tax provision (13,629) 1,128 (11,257) (18,769) (13,747)
Income tax provision (benefit) 0 0 (5,451) 21,276 (4,672)
Net income (loss) ($13,629) $1,128 ($5,806) ($40,045) ($9,075)
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED FINANCIAL DATA
(Dollars in thousands, except share and per share data) Quarter ended
6/30/2010 3/31/2010 12/31/2009 9/30/2009 6/30/2009
EARNINGS SUMMARY
Net interest income $8,456 $8,055 $8,006 $7,826 $7,537
Provision for loan loss $11,803 $100 $12,341 $14,185 $13,610
Total non-interest income ($3,077) ($59) $374 ($600) ($571)
Total non-interest expense $7,205 $6,768 $7,296 $11,810 $7,103
Income taxes (benefit) $0 $0 ($5,451) $21,276 ($4,672)
Net income (loss) ($13,629) $1,128 ($5,806) ($40,045) ($9,075)
Basic earnings per share ($1.78) $0.15 ($0.76) ($5.24) ($1.19)
Diluted earnings per share ($1.78) $0.15 ($0.76) ($5.24) ($1.19)
MARKET DATA
Book value per share $3.90 $5.62 $5.46 $6.23 $11.43
Tangible book value per share $3.90 $5.62 $5.46 $6.23 $10.59
Market value per share $1.87 $1.11 $0.46 $1.21 $1.80
Average basic common shares 7,645,940 7,645,940 7,645,940 7,645,940 7,644,207
Average diluted common shares 7,645,940 7,645,940 7,645,940 7,645,940 7,644,207
Period end common shares 7,685,704 7,687,470 7,687,470 7,687,470 7,687,470
PERFORMANCE RATIOS
Return on average assets -5.67% 0.44% -2.20% -15.77% -3.45%
Return on average equity -123.92% 10.50% -45.21% -181.36% -37.77%
Net interest margin (FTE) 3.68% 3.47% 3.14% 3.24% 3.01%
Efficiency ratio 79.80% 78.13% 84.55% 147.28% 83.53%
ASSET QUALITY
Net charge-offs (YTD) $15,454 $4,938 $30,190 $24,600 $16,367
Nonperforming loans $113,676 $114,027 $108,761 $104,891 $104,324
Other real estate $23,976 $24,467 $23,435 $15,472 $17,434
Nonperforming loans to total loans 14.52% 14.01% 13.05% 12.16% 11.83%
Nonperforming assets to total assets 14.75% 14.27% 13.40% 11.55% 12.30%
Allowance for loan loss to total loans 4.03% 3.72% 4.22% 3.29% 2.54%
CAPITAL & LIQUIDITY
Average equity to average assets 4.58% 4.17% 4.87% 8.70% 9.13%
Tier 1 capital to risk weighted assets 4.63% 6.25% 6.10% 6.40% 7.32%
Total capital to risk weighted assets 6.07% 7.50% 7.39% 7.65% 8.59%
Loan to deposit ratio 94.61% 95.53% 95.99% 95.33% 108.44%
Loan to funding ratio 87.84% 88.88% 89.41% 88.13% 99.40%
END OF PERIOD BALANCES
Total portfolio loans $783,032 $813,961 $833,136 $862,664 $881,818
Earning assets $901,519 $935,639 $953,957 $1,005,659 $909,462
Total assets $933,113 $970,699 $986,486 $1,042,337 $989,800
Deposits $827,664 $852,017 $867,955 $904,954 $813,167
Total shareholders' equity $29,963 $43,180 $41,945 $47,890 $87,877
AVERAGE BALANCES
Total portfolio loans $801,464 $826,188 $851,447 $875,545 $897,978
Earning assets $926,477 $941,959 $1,013,062 $958,383 $1,004,914
Total assets $963,919 $1,045,938 $1,045,938 $1,018,320 $1,066,951
Deposits $844,001 $854,071 $912,691 $841,447 $898,387
Total shareholders' equity $44,114 $43,567 $50,956 $88,565 $97,454
DEARBORN BANCORP, INC. AND SUBSIDIARY
DEPOSIT INFORMATION
(In thousands)
June 30
Category 2010 2009
Non-interest bearing
Demand $91,446 $83,752
Interest bearing
Interest Checking $79,195 $106,669
Money market 57,476 72,394
Savings 43,343 52,017
Time, under $100,000 287,761 221,980
Time, $100,000 and over 268,443 276,355
736,218 729,415
$827,664 $813,167
DEARBORN BANCORP, INC. AND SUBSIDIARY
ASSET QUALITY DATA
(Dollars, in thousands)
6/30/2010 3/31/2010 12/31/2009 9/30/2009 6/30/2009
Troubled debt restructuring $38,530 $31,737 $59,420 $46,025 $46,714
Loans over 90 days past due
and still accruing --- 1,127 --- --- ---
Non-accrual loans 75,146 81,163 49,341 58,866 57,610
Total non-performing loans 113,676 114,027 108,761 104,891 104,324
Other real estate and
other repossessed assets 23,976 24,467 23,435 15,472 17,434
Total non-performing assets $137,652 $138,494 $132,196 $120,363 $121,758
Net charge-offs (year to date) $15,454 $4,938 $30,190 $24,600 $16,367
Allowance for loan losses 31,574 30,288 35,125 28,373 22,422
ASSET QUALITY RATIOS
6/30/2010 3/31/2010 12/31/2009 9/30/2009 6/30/2009
Non-accrual loans to total loans 9.60% 9.97% 5.92% 6.82% 6.53%
Non-performing loans to total loans 14.52% 14.01% 13.05% 12.16% 11.83%
Non-performing assets to total assets 14.75% 14.27% 13.40% 11.55% 12.30%
Loans over 90 days past due
and still accruing to total loans ---% 0.14% ---% ---% ---%
Net charge-offs to average loans 1.90% 0.60% 3.40% 2.74% 1.78%
Allowance for loan losses
to non-performing loans 27.78% 26.56% 32.30% 27.05% 21.49%
Allowance for loan losses
to non-performing assets 22.94% 21.87% 26.57% 23.57% 18.42%
Allowance for loan losses
to total loans 4.03% 3.72% 4.22% 3.29% 2.54%
Dearborn Bancorp, Inc.
Loan Information at June 30, 2010
(In thousands) Loan Detail Other Related Data
Accruing Loans Allowance Year to Date Other Real
6/30/10 Current TDR 30 to 89 past due 90+ days past due Non-Accrual For Loan Losses Net Charge-Offs Estate Owned
Consumer Loans $28,017 $26,782 $0 $184 $0 $1,051 $1,176 $386 $114
Commercial Loans 134,199 108,465 6,916 4,684 0 14,134 5,037 2,664 2,012
Land Development - Residential 29,233 9,506 1,980 746 0 17,001 2,437 7,171 6,034
Land Development - Non Residential 9,427 8,108 0 0 0 1,319 1,815 300 1,786
Commercial Construction Loans - Residential 11,060 687 2,160 0 0 8,213 2,516 1,711 1,525
Commercial Construction Loans - Non Residential 17,935 14,402 3,200 0 0 333 4,413 36 2,869
Commercial Mortgage Loans 511,265 441,566 24,274 14,895 0 30,530 13,833 3,005 8,786
Residential Mortgage Loans 41,896 39,248 0 83 0 2,565 347 181 850
Totals $783,032 $648,764 $38,530 $20,592 $0 $75,146 $31,574 $15,454 $23,976
Loan Information at March 31, 2010
(In thousands) Loan Detail Other Related Data
Accruing Loans Allowance Year to Date Other Real
3/31/10 Current TDR 30 to 89 past due 90+ days past due Non-Accrual For Loan Losses Net Charge-Offs Estate Owned
Consumer Loans $28,623 $27,578 $0 $121 $0 $924 $1,041 $319 $127
Commercial Loans 141,338 113,803 7,412 7,374 0 12,749 3,663 1,506 2,441
Land Development - Residential 36,089 10,701 1,628 500 0 23,260 3,883 1,283 8,286
Land Development - Non Residential 9,711 7,026 0 0 1,127 1,558 1,055 229 1,802
Commercial Construction Loans - Residential 12,164 687 1,904 0 0 9,573 2,534 905 1,636
Commercial Construction Loans - Non Residential 20,813 17,943 0 0 0 2,870 4,246 36 0
Commercial Mortgage Loans 521,701 464,202 20,793 8,843 0 27,863 13,354 550 9,458
Residential Mortgage Loans 43,522 40,388 0 768 0 2,366 512 109 718
Totals $813,961 $682,328 $31,737 $17,606 $1,127 $81,163 $30,288 $4,937 $24,468
Loan Information at December 31, 2009
(In thousands) Loan Detail Other Related Data
Accruing Loans Allowance Year to Date Other Real
12/31/09 Current TDR 30 to 89 past due 90+ days past due Non-Accrual For Loan Losses Net Charge-Offs Estate Owned
Consumer Loans $29,386 $27,877 $0 $270 $0 $1,239 $819 $978 $127
Commercial Loans 144,630 113,361 20,162 2,019 0 9,088 6,498 4,539 2,456
Land Development - Residential 38,472 26,557 1,980 0 0 9,935 5,909 9,334 7,853
Land Development - Non Residential 11,644 8,346 306 0 0 2,992 807 4,364 384
Commercial Construction Loans - Residential 13,287 4,983 1,784 596 0 5,924 2,003 1,471 2,177
Commercial Construction Loans - Non Residential 20,061 16,502 0 0 0 3,559 3,450 1,981 0
Commercial Mortgage Loans 531,156 474,938 35,188 6,449 0 14,581 15,286 6,858 9,469
Residential Mortgage Loans 44,500 42,098 0 379 0 2,023 353 665 969
Totals $833,136 $714,662 $59,420 $9,713 $0 $49,341 $35,125 $30,190 $23,435
Loan Information at September 30, 2009
(In thousands) Loan Detail Other Related Data
Accruing Loans Allowance Year to Date Other Real
9/30/09 Current TDR 30 to 89 past due 90+ days past due Non-Accrual For Loan Losses Net Charge-Offs Estate Owned
Consumer Loans $30,028 $28,383 $0 $410 $0 $1,235 $623 $547 $18
Commercial Loans 154,358 131,518 13,010 1,192 0 8,638 4,784 3,368 2,588
Land Development - Residential 44,997 29,203 1,309 0 0 14,485 5,849 7,008 4,380
Land Development - Non Residential 11,604 8,244 0 231 0 3,129 778 3,999 384
Commercial Construction Loans - Residential 15,042 9,389 98 0 0 5,555 3,485 1,270 2,002
Commercial Construction Loans - Non Residential 20,445 17,378 0 0 0 3,067 1,196 1,981 0
Commercial Mortgage Loans 539,200 481,151 31,217 6,365 0 20,467 10,775 5,743 5,340
Residential Mortgage Loans 46,990 42,877 0 1,823 0 2,290 883 684 760
Totals $862,664 $748,143 $45,634 $10,021 $0 $58,866 $28,373 $24,600 $15,472
Loan Information at June 30, 2009
(In thousands) Loan Detail Other Related Data
Accruing Loans Allowance Year to Date Other Real
6/30/09 Current TDR 30 to 89 past due 90+ days past due Non-Accrual For Loan Losses Net Charge-Offs Estate Owned
Consumer Loans $30,270 $29,017 $0 $214 $0 $1,039 $359 $528 $18
Commercial Loans 156,688 131,630 14,346 3,791 0 6,921 4,025 2,301 1,913
Land Development - Residential 48,454 31,199 1,309 240 0 15,706 6,114 5,280 4,103
Land Development - Non Residential 13,405 7,483 0 1,150 0 4,772 1,448 2,356 384
Commercial Construction Loans - Residential 13,125 7,846 99 103 0 5,077 2,345 1,176 2,495
Commercial Construction Loans - Non Residential 22,518 16,336 0 0 0 6,182 869 430 0
Commercial Mortgage Loans 549,275 486,038 30,960 15,969 0 16,308 6,623 3,682 7,789
Residential Mortgage Loans 48,083 46,258 0 220 0 1,605 639 614 732
Totals $881,818 $755,807 $46,714 $21,687 $0 $57,610 $22,422 $16,367 $17,434
CONTACT: Dearborn Bancorp, Inc.
Michael J. Ross, President & CEO
(313) 565-5700
Jeffrey L. Karafa, CFO
(313) 381-3200
Market Data 
Markets 
AI
