Andover Bank in Andover, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2002

  • Andover Bank in Andover, Massachusetts (MA)
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Andover Bank - Overview

  • General
  • FDIC Certificate #: 23284
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Massachusetts Bank, National Association (#34136)
    Federal Reserve ID: 157605
    Date Established: April 02, 1834
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 14 (Interstate: No)
    OTS Docket #: 7744
    FDIC's unique #: 16317
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 02, 1981
    Last Structure Change Effective Date: January 01, 2002
    Last Structure Change Process Date: January 29, 2002
    Last Data Update: January 29, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 61 Main Street, Andover, MA 1810
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Lawrence, MA-NH (#4160)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Peabody, MA (#37764)
  • Financial Summary
  • Total assets: $1,791.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2001)

  • Dollar figures in thousands
  • 241Total employees (full-time equivalent)
  • $1,791,328Total assets
  • $37,730Cash and due from depository institutions
  • $2Interest-bearing balances
  • $259,547Securities
  • $161,400Federal funds sold & reverse repurchase agreements
  • $1,099,350Net loans & leases
  • $17,088Loan loss allowance
  • $0Trading account assets
  • $16,171Bank premises and fixed assets
  • $0Other real estate owned
  • $179,785Goodwill and other intangibles
  • $0Life insurance assets
  • $37,345All other assets
  • $1,791,328Total liabilities and capital
  • $1,513,984Total liabilities
  • $1,144,087Total deposits
  • $1,086,510Interest-bearing deposits
  • $1,144,087Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $29,166Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $324,296Other borrowed funds
  • $0Subordinated debt
  • $16,435All other liabilities
  • $277,344Total equity capital
  • $277,344Total bank equity capital
  • $277,344Perpetual preferred stock
  • $0Common stock
  • $502Surplus
  • $274,793Undivided profits
  • Memoranda
  • $2,049Noncurrent loans and leases
  • $181,400Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,049Earning assets
  • $0Long-term assets (5+ years)
  • $8,372Average Assets, year-to-date
  • $1,520,299Average Assets, quarterly
  • $538,143Volatile liabilities
  • $1,683,487Insider loans
  • $1,711,635FHLB advances
  • $162,708Loans and leases held for sale
  • $251Unused loan commitments
  • $324,296Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $181,400Total unused commitments
  • $0Restructured Loans and leases
  • $12,917Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $16,204Total interest income
  • $6,272Total interest expense
  • $9,932Net interest income
  • $300Provision for loan and lease losses
  • $874Total noninterest income
  • $0Fiduciary activities
  • $586Service charges on deposit accounts
  • $4Trading account gains & fees
  • $284Additional noninterest income
  • $4,238Total noninterest expense
  • $1,356Salaries and employee benefits
  • $524Premises and equipment expense
  • $2,358Additional noninterest expense
  • $6,268Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,333Applicable income taxes
  • $3,935Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,935Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,370Sale, conversion, retirement of capital stock, net
  • $15,000Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 1.04%Yield on earning assets
  • 0.40%Cost of funding earning assets
  • 0.64%Net interest margin
  • 0.06%Noninterest income to earning assets
  • 0.27%Noninterest expense to earning assets
  • 0.23%Net operating income to assets
  • 0.23%Return on assets (ROA)
  • 0.37%Pretax return on assets
  • 2.43%Return on equity (ROE)
  • -6.83%Retained earnings to average equity (YTD only)
  • 0.19%Net charge-offs to loans
  • 12.66%Credit loss provision to net charge-offs
  • 2.77%Efficiency ratio
  • 35,378Assets per employee
  • 7.43%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 381.19%Loss allowance to loans
  • 1.53%Loss allowance to noncurrent loans
  • 282.49%Noncurrent assets plus other real estate owned to assets
  • 0.34%Noncurrent loans to loans
  • 0.54%Net loans and leases to deposits
  • 96.09%Net loans and leases to core deposits
  • 104.99%Equity capital to assets
  • 15.48%Core capital (leverage) ratio
  • 6.69%Tier 1 risk-based capital ratio
  • 10.62%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $1,683,487Average earning assets
  • $162,092Average equity
  • $1,559,866Average loans

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