Alpena Bancshares, Inc. is a federally chartered holding company that conducts business principally through its wholly owned subsidiary, First Federal of Northern Michigan, a federally chartered savings bank (the Bank). The Bank is a community-oriented savings institution that is primarily engaged in the business of attracting deposits from the general public in the Banks market area, and investing such deposits in one- to four-family residential real estate mortgages, commercial real estate loans and consumer loans. The Bank conducts its operations from nine full-service facilities located in Cheboygan, Alpena, Iosco, Otsego, Montmorency and Oscoda Counties, Michigan.