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Level One Bancorp

Nasdaq:LEVL
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LEVL
Nasdaq
$194M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Level One Bancorp, Inc. operates as a bank holding company for Level One Bank that provides business and consumer financial services in Michigan. The last earnings update was 47 days ago. More info.


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LEVL Share Price and Events
7 Day Returns
6.4%
NasdaqGS:LEVL
2.4%
US Banks
2.9%
US Market
1 Year Returns
-
NasdaqGS:LEVL
-9.8%
US Banks
1.4%
US Market
LEVL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Level One Bancorp (LEVL) 6.4% 4% -0.8% - - -
US Banks 2.4% 2.7% 11.8% -9.8% 48.9% 40.9%
US Market 2.9% 2.5% 10% 1.4% 38.3% 42%
1 Year Return vs Industry and Market
  • No trading data on LEVL.
  • No trading data on LEVL.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Level One Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Level One Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Level One Bancorp.

NasdaqGS:LEVL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $22.51 * 10.3%
$2.31
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $22.51
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:LEVL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.637 (1 + (1- 21%) (59.12%))
0.956
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.956 * 5.96%)
8.43%

Discounted Cash Flow Calculation for NasdaqGS:LEVL using Excess Returns Model Model

The calculations below outline how an intrinsic value for Level One Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:LEVL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.3% – 8.43%) * $22.51)
$0.41
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.41 / (8.43% - 2.73%)
$7.23
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $22.51 + $7.23
$29.73
NasdaqGS:LEVL Discount to Share Price
Calculation Result
Value per share (USD) From above. $29.73
Current discount Discount to share price of $24.98
= -1 x ($24.98 - $29.73) / $29.73
16%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Level One Bancorp is available for.
Intrinsic value
16%
Share price is $24.98 vs Future cash flow value of $29.73
Current Discount Checks
For Level One Bancorp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Level One Bancorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Level One Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Level One Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Level One Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:LEVL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.95
NasdaqGS:LEVL Share Price ** NasdaqGS (2019-03-15) in USD $24.98
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 13.36x
United States of America Market PE Ratio Median Figure of 3,054 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Level One Bancorp.

NasdaqGS:LEVL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:LEVL Share Price ÷ EPS (both in USD)

= 24.98 ÷ 1.95

12.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Level One Bancorp is good value based on earnings compared to the US Banks industry average.
  • Level One Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Level One Bancorp's expected growth come at a high price?
Raw Data
NasdaqGS:LEVL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
10.9%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.23x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

NasdaqGS:LEVL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.81x ÷ 10.9%

1.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Level One Bancorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Level One Bancorp's assets?
Raw Data
NasdaqGS:LEVL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $19.58
NasdaqGS:LEVL Share Price * NasdaqGS (2019-03-15) in USD $24.98
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.25x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NasdaqGS:LEVL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:LEVL Share Price ÷ Book Value per Share (both in USD)

= 24.98 ÷ 19.58

1.28x

* Primary Listing of Level One Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Level One Bancorp is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Level One Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Level One Bancorp has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Level One Bancorp expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Level One Bancorp expected to grow at an attractive rate?
  • Level One Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Level One Bancorp's earnings growth is positive but not above the United States of America market average.
  • Level One Bancorp's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:LEVL Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:LEVL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 10.9%
NasdaqGS:LEVL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 9.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:LEVL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:LEVL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 69 18 2
2019-12-31 64 16 2
NasdaqGS:LEVL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 57 14
2018-09-30 54 4 11
2018-06-30 53 11 11
2018-03-31 53 8 10
2017-12-31 53 12 10
2017-09-30 52 7 12
2016-12-31 50 0 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Level One Bancorp's earnings are expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).
  • Level One Bancorp's revenue is expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:LEVL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Level One Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:LEVL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.27 2.28 2.25 3.00
2019-12-31 2.05 2.07 2.02 3.00
NasdaqGS:LEVL Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.95
2018-09-30 1.61
2018-06-30 1.63
2018-03-31 1.60
2017-12-31 1.54
2017-09-30 1.81
2016-12-31 1.74

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Level One Bancorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Level One Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Level One Bancorp has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Level One Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Level One Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Level One Bancorp's year on year earnings growth rate has been positive over the past 5 years.
  • Level One Bancorp's 1-year earnings growth exceeds its 5-year average (46.2% vs 18.7%)
  • Level One Bancorp's earnings growth has exceeded the US Banks industry average in the past year (46.2% vs 43.2%).
Earnings and Revenue History
Level One Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Level One Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:LEVL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 57.07 14.39 35.50
2018-09-30 54.34 11.37 34.15
2018-06-30 53.39 10.95 32.68
2018-03-31 52.63 10.26 31.75
2017-12-31 52.62 9.84 31.40
2017-09-30 52.02 11.52 30.37
2016-12-31 49.55 11.05 25.83
2015-12-31 40.28 12.42 20.61
2014-12-31 23.35 1.77 17.93
2013-12-31 25.43 3.80 16.95
2012-12-31 25.72 5.09 14.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Level One Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Level One Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Level One Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Level One Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Level One Bancorp has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Level One Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Level One Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Level One Bancorp Company Filings, last reported 2 months ago.

NasdaqGS:LEVL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 151.76 114.47 33.30
2018-09-30 145.46 161.38 77.85
2018-06-30 143.45 101.46 34.77
2018-03-31 110.52 67.64 39.88
2017-12-31 107.96 62.68 63.66
2017-09-30 106.99 77.73 92.75
2016-12-31 96.57 97.43 19.12
2015-12-31 85.63 49.24 16.04
2014-12-31 84.42 78.39 16.99
2013-12-31 79.53 28.49 10.98
2012-12-31 78.76 15.85 18.95
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Level One Bancorp has an acceptable proportion of non-loan assets held.
  • Level One Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Level One Bancorp are broadly funded by customer deposits.
  • Level One Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Level One Bancorp has a low allowance for bad loans.
  • Level One Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Level One Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Level One Bancorp has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Level One Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.48%
Current annual income from Level One Bancorp dividends. Estimated to be 0.72% next year.
If you bought $2,000 of Level One Bancorp shares you are expected to receive $10 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Level One Bancorp's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Level One Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:LEVL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 470 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:LEVL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.21 3.00
2019-12-31 0.15 3.00
NasdaqGS:LEVL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-20 0.120 0.503
2018-09-20 0.120 0.447
2018-06-21 0.120 0.434
2018-06-01 0.120 0.433
2018-05-15 0.120 0.418
2018-04-20 0.120 0.416

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Level One Bancorp is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Level One Bancorp is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Level One Bancorp's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Level One Bancorp's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Level One Bancorp's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Level One Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Level One Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Level One Bancorp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Level One Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Patrick Fehring
COMPENSATION $604,807
AGE 59
CEO Bio

Mr. Patrick J. Fehring, Jr., is Chairman, President and Chief Executive Officer of Level One Bancorp, Inc. and Level One Bank. Mr. Fehring is a Co-founder of Level One Bank (the “Bank”) and has more than three decades of experience in financial services. Prior to joining Level One, he spent over 25 years at Fifth Third Bank, advancing through various management positions. Fehring served nearly five years as President of Fifth Third Bank in the Eastern Michigan market, following a decade as President of the Central Ohio region. He is an active Leader in the local community, currently serving as a Board Member of the Detroit Regional Chamber, Detroit Regional Chamber Foundation, Detroit Public Television and Archdiocese of Detroit Endowment. He has previously been involved as a board member and volunteer with New Detroit, Detroit Renaissance, United Way, Farmington-Farmington Hills Foundation for Youth and Families and the American Heart Association of Southeast Michigan. He earned a Bachelor of Science degree in business from Miami University in Ohio.

CEO Compensation
  • Patrick's compensation has been consistent with company performance over the past year.
  • Patrick's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Patrick Fehring

TITLE
Chairman
COMPENSATION
$605K
AGE
59

Dave Walker

TITLE
Executive VP & CFO
COMPENSATION
$356K
AGE
57
TENURE
9.6 yrs

Greg Wernette

TITLE
Executive VP
COMPENSATION
$404K
AGE
55

Peter Root

TITLE
Investor Relations Contact

Lani Barrett

TITLE
Executive VP & Chief Human Resources Officer
AGE
58
TENURE
1.2 yrs

Tim Mackay

TITLE
Executive VP & Consumer Banking Officer
AGE
47

Eva Scurlock

TITLE
Executive VP & Risk Management Officer
AGE
39

Barbara Felts

TITLE
Controller
Board of Directors

Patrick Fehring

TITLE
Chairman
COMPENSATION
$605K
AGE
59

Thomas Fabbri

TITLE
Director
COMPENSATION
$39K
AGE
65

Barbara Allushuski

TITLE
Director
COMPENSATION
$39K
AGE
66

Stefan Wanczyk

TITLE
Director
COMPENSATION
$40K
AGE
57

Shukri David

TITLE
Lead Director
COMPENSATION
$40K
AGE
59

Mark Herman

TITLE
Director
COMPENSATION
$33K
AGE
63

James Bellinson

TITLE
Director
COMPENSATION
$40K
AGE
58

Victor Ansara

TITLE
Director
COMPENSATION
$41K
AGE
59

Michael Brillati

TITLE
Director
COMPENSATION
$41K
AGE
42

Steven Rivera

TITLE
Director
COMPENSATION
$43K
AGE
55
Who owns this company?
Recent Insider Trading
  • Level One Bancorp insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
12. Mar 19 Buy Stefan Wanczyk Individual 11. Feb 19 12. Mar 19 2,077 $23.00 $47,771
15. Feb 19 Sell Gregory Wernette Individual 13. Feb 19 13. Feb 19 -5,500 $24.04 $-132,199
15. Feb 19 Buy James Bellinson Individual 13. Feb 19 14. Feb 19 2,000 $23.91 $47,717
28. Nov 18 Buy James Bellinson Individual 26. Nov 18 27. Nov 18 8,114 $26.45 $214,074
23. Apr 18 Sell Mark Herman Individual 19. Apr 18 19. Apr 18 -123,235 $28.00 $-3,450,580
23. Apr 18 Sell Shukri David Individual 19. Apr 18 19. Apr 18 -22,500 $28.00 $-630,000
23. Apr 18 Sell Steven Rivera Individual 19. Apr 18 19. Apr 18 -7,000 $28.00 $-196,000
23. Apr 18 Sell Michael Brillati Individual 19. Apr 18 19. Apr 18 -7,500 $28.00 $-210,000
23. Apr 18 Sell Victor Ansara Individual 19. Apr 18 19. Apr 18 -20,000 $28.00 $-560,000
23. Apr 18 Sell Gregory Wernette Individual 19. Apr 18 19. Apr 18 -9,000 $28.00 $-252,000
X
Management checks
We assess Level One Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Level One Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Much Of Level One Bancorp, Inc. (NASDAQ:LEVL) Do Insiders Own?

With a market capitalization of US$179m, Level One Bancorp is a small cap stock, so it might not be well known by many institutional investors. … Our analysis of the ownership of the company, below, shows that. … See our latest analysis for Level One Bancorp

Simply Wall St -

Despite Its High P/E Ratio, Is Level One Bancorp, Inc. (NASDAQ:LEVL) Still Undervalued?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Level One Bancorp, Inc.'s (NASDAQ:LEVL) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How Much Are Level One Bancorp Inc (NASDAQ:LEVL) Insiders Taking Off The Table?

So we'll take a look at whether insiders have been buying or selling shares in Level One Bancorp Inc (NASDAQ:LEVL). … The Last 12 Months Of Insider Transactions At Level One Bancorp. … In total, Level One Bancorp insiders sold more than they bought over the last year

Simply Wall St -

Have You Considered These Key Risks For Level One Bancorp Inc (NASDAQ:LEVL)?

As a small-cap bank with a market capitalisation of US$211m, Level One Bancorp Inc’s (NASDAQ:LEVL) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off Level One Bancorp’s bottom line. … Today I will take you through some bad debt and liability measures to analyse the level of risky assets held by the bank.

Simply Wall St -

With An ROE Of 7.63%, Can Level One Bancorp Inc (NASDAQ:LEVL) Catch Up To The Industry?

With an ROE of 7.63%, Level One Bancorp Inc (NASDAQ:LEVL) returned in-line to its own industry which delivered 8.83% over the past year. … But what is more interesting is whether LEVL can sustain or improve on this level of return. … Check out our latest analysis for Level One Bancorp

Simply Wall St -

Is Level One Bancorp Inc (NASDAQ:LEVL) Worth US$27.75 Based On Intrinsic Value?

This is because the rules banks face are different to other companies, which can impact the way we forecast their cash flows. … Banks, for example, must hold certain levels of tiered capital in order to maintain a safe cash cushion.

Simply Wall St -

Is Level One Bancorp Inc (NASDAQ:LEVL) Undervalued After Accounting For Its Future Growth?

Level One Bancorp Inc (NASDAQ:LEVL) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of $28.15 is based on unrealistic expectations. … What can we expect from Level One Bancorp in the future. … One reason why investors are attracted to LEVL is the high growth potential in the near future

Simply Wall St -

Financial Metrics For Level One Bancorp Inc (NASDAQ:LEVL)

As a small-cap bank stock with a market capitalisation of US$208.86m, Level One Bancorp Inc’s (NASDAQ:LEVL) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … Given that banks operate by reinvesting deposits in the form of loans, negative economic growth may lower the level of saving deposits and demand for loans, directly affecting those banks’ levels of cash flows. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Level One Bancorp to vulnerabilities.

Simply Wall St -

June Fundamental Stock Pick: Level One Bancorp Inc (NASDAQ:LEVL)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Level One Bancorp Inc (NASDAQ:LEVL) due to its excellent fundamentals in more than one area.

Simply Wall St -

Company Info

Description

Level One Bancorp, Inc. operates as a bank holding company for Level One Bank that provides business and consumer financial services in Michigan. It offers a range of deposit services, including checking accounts, NOW accounts, savings, other time deposits, certificates of deposit, and specialty deposit accounts. The company also provides lending products and related services comprising commercial mortgages; commercial and industrial loans with lines of credit, term loans, and owner occupied mortgages to small businesses; loans under the SBA lending program; residential real estate loans; construction and land development loans; and consumer loans, including home equity loans and automobile loans, as well as credit card services. In addition, it offers cash management services, treasury management services, and mobile banking services. The company serves individuals, owner-managed businesses, professional firms, real estate professionals, and not-for-profit businesses. It operate through 14 offices, including 12 full-service banking centers located in southeastern Michigan; and a mortgage loan production office in Ann Arbor, Michigan. Level One Bancorp, Inc. was founded in 2007 and is headquartered in Farmington Hills, Michigan.

Details
Name: Level One Bancorp, Inc.
LEVL
Exchange: NasdaqGS
Founded: 2007
$193,600,395
7,750,216
Website: http://www.levelonebank.com
Address: Level One Bancorp, Inc.
32991 Hamilton Court,
Farmington Hills,
Michigan, 48334,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS LEVL Common Stock Nasdaq Global Select US USD 20. Apr 2018
Number of employees
Current staff
Staff numbers
235
Level One Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 00:50
End of day share price update: 2019/03/15 00:00
Last estimates confirmation: 2019/02/24
Last earnings filing: 2019/01/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.