FDIC Certificate #: 34859 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Fairfield County Bank (#18213) Federal Reserve ID: 2735182 Date Established: October 01, 1998 WWW:http://www.bankofwestport.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 61822 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: October 01, 1998 Last Structure Change Effective Date: June 21, 2004 Last Structure Change Process Date: July 19, 2004 Last Data Update: July 19, 2004 Data Source Date: April 05, 2012
Location
Address: 180 Post Road East, Westport, CT 6880 County: Fairfield Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Hartford Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Stamford-Norwalk, CT (#8040) Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70) Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408) Core Based Statistical Area (CBSA): Bridgeport-Stamford-Norwalk, CT (#14860) CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
Financial Summary
Total assets: $81.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
21Total employees (full-time equivalent)
$71,856Total assets
$3,607Cash and due from depository institutions
$121Interest-bearing balances
$15,160Securities
$1,000Federal funds sold & reverse repurchase agreements
$50,710Net loans & leases
$531Loan loss allowance
$0Trading account assets
$245Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,134All other assets
$71,856Total liabilities and capital
$65,355Total liabilities
$64,289Total deposits
$48,171Interest-bearing deposits
$64,289Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,000Other borrowed funds
$0Subordinated debt
$66All other liabilities
$6,501Total equity capital
$6,501Total bank equity capital
$6,501Perpetual preferred stock
$0Common stock
$918Surplus
$7,286Undivided profits
Memoranda
$-1,703Noncurrent loans and leases
$7,952Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$41Earning assets
$0Long-term assets (5+ years)
$354Average Assets, year-to-date
$66,991Average Assets, quarterly
$23,819Volatile liabilities
$65,816Insider loans
$69,528FHLB advances
$8,445Loans and leases held for sale
$0Unused loan commitments
$1,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,952Total unused commitments
$0Restructured Loans and leases
$531Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$3,143Total interest income
$648Total interest expense
$2,495Net interest income
$181Provision for loan and lease losses
$177Total noninterest income
$0Fiduciary activities
$124Service charges on deposit accounts
$0Trading account gains & fees
$53Additional noninterest income
$2,426Total noninterest expense
$1,206Salaries and employee benefits
$379Premises and equipment expense
$841Additional noninterest expense
$65Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$65Income before extraordinary items
$0Extraordinary gains - net
$65Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$68Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.24%Yield on earning assets
1.08%Cost of funding earning assets
4.16%Net interest margin
0.30%Noninterest income to earning assets
4.04%Noninterest expense to earning assets
0.10%Net operating income to assets
0.10%Return on assets (ROA)
0.10%Pretax return on assets
0.99%Return on equity (ROE)
0.99%Retained earnings to average equity (YTD only)
0.15%Net charge-offs to loans
266.18%Credit loss provision to net charge-offs
3.62%Efficiency ratio
90,793Assets per employee
3.42%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.04%Loss allowance to noncurrent loans
1295.12%Noncurrent assets plus other real estate owned to assets
0.06%Noncurrent loans to loans
0.08%Net loans and leases to deposits
78.88%Net loans and leases to core deposits
90.81%Equity capital to assets
9.05%Core capital (leverage) ratio
9.36%Tier 1 risk-based capital ratio
13.56%Total risk-based capital ratio
Memoranda
$15Average assets
$65,816Average earning assets
$6,562Average equity
$59,995Average loans
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