FDIC Certificate #: 7422 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Chemung Canal Trust Company (#597) Federal Reserve ID: 898010 Date Established: Febuary 16, 1881 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 3 (Interstate: No) FDIC's unique #: 4834 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: May 30, 2009 Last Structure Change Process Date: June 18, 2009 Last Data Update: June 18, 2009 Data Source Date: April 05, 2012
Location
Address: 5 West Main Street, Canton, PA 17724 County: Bradford Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Harrisburg Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Core Based Statistical Area (CBSA): Sayre, PA (#42380) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $79.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
28Total employees (full-time equivalent)
$80,309Total assets
$8,434Cash and due from depository institutions
$7,532Interest-bearing balances
$5,535Securities
$0Federal funds sold & reverse repurchase agreements
$61,114Net loans & leases
$1,005Loan loss allowance
$0Trading account assets
$1,525Bank premises and fixed assets
$121Other real estate owned
$0Goodwill and other intangibles
$2,363Life insurance assets
$3,580All other assets
$80,309Total liabilities and capital
$72,722Total liabilities
$72,221Total deposits
$66,056Interest-bearing deposits
$72,221Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$501All other liabilities
$7,587Total equity capital
$7,587Total bank equity capital
$7,587Perpetual preferred stock
$0Common stock
$282Surplus
$352Undivided profits
Memoranda
$6,953Noncurrent loans and leases
$3,943Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,674Earning assets
$0Long-term assets (5+ years)
$296Average Assets, year-to-date
$74,181Average Assets, quarterly
$27,545Volatile liabilities
$82,739Insider loans
$81,672FHLB advances
$18,170Loans and leases held for sale
$2,499Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,943Total unused commitments
$0Restructured Loans and leases
$742Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$4,780Total interest income
$2,476Total interest expense
$2,304Net interest income
$360Provision for loan and lease losses
$423Total noninterest income
$0Fiduciary activities
$164Service charges on deposit accounts
$0Trading account gains & fees
$259Additional noninterest income
$2,498Total noninterest expense
$1,080Salaries and employee benefits
$179Premises and equipment expense
$1,239Additional noninterest expense
-$131Pre-tax net operating income
$0Securities gains (losses)
-$85Applicable income taxes
-$46Income before extraordinary items
$0Extraordinary gains - net
-$46Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$189Sale, conversion, retirement of capital stock, net
$131Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.38%Yield on earning assets
3.31%Cost of funding earning assets
3.08%Net interest margin
0.56%Noninterest income to earning assets
3.33%Noninterest expense to earning assets
-0.06%Net operating income to assets
-0.06%Return on assets (ROA)
-0.16%Pretax return on assets
-0.60%Return on equity (ROE)
-2.31%Retained earnings to average equity (YTD only)
0.30%Net charge-offs to loans
190.48%Credit loss provision to net charge-offs
1.21%Efficiency ratio
91,602Assets per employee
2.87%Cash dividends to net income (YTD only)
Condition Ratios (%)
-284.78%Loss allowance to loans
1.62%Loss allowance to noncurrent loans
60.04%Noncurrent assets plus other real estate owned to assets
2.24%Noncurrent loans to loans
2.69%Net loans and leases to deposits
84.62%Net loans and leases to core deposits
113.07%Equity capital to assets
9.45%Core capital (leverage) ratio
9.45%Tier 1 risk-based capital ratio
12.76%Total risk-based capital ratio
Memoranda
$14Average assets
$82,739Average earning assets
$7,666Average equity
$74,912Average loans
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