FDIC Certificate #: 26536 Status: Active Federal Reserve ID: 331375 Date Established: January 01, 1887 WWW:http://www.bankgloucester.com Trust Powers Granted: No Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 13786 FDIC's unique #: 35224 Numeric code: 42 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: Febuary 10, 1986 Last Structure Change Effective Date: July 15, 2009 Last Structure Change Process Date: July 21, 2009 Last Data Update: July 21, 2009 Data Source Date: April 05, 2012
Location
Address: 160 Main Street, Gloucester, MA 1930 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): Boston, MA-NH (#1120) 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)
History of Changes
Name Change
Financial Summary
Total assets: $179.6 mil Equity capital: $15.2 mil Deposits held in domestic offices: $138.6 mil Return on assets (ROA): 0.49% ($0.9 mil) Quarterly return on assets: 0.53% ($1.0 mil) Return on Equity (ROE): 5.86% ($0.9 mil) Quarterly return on equity: 6.26% ($0.9 mil) Net income: $0.9 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.77% ($1,382.8 mil) Quarterly Pretax return on assets: 0.83% ($1,490.6 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
30Total employees (full-time equivalent)
$179,586Total assets
$4,587Cash and due from depository institutions
$2,806Interest-bearing balances
$20,435Securities
$0Federal funds sold & reverse repurchase agreements
$144,997Net loans & leases
$1,477Loan loss allowance
$0Trading account assets
$6,254Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$179,586Life insurance assets
$3,313All other assets
$164,405Total liabilities and capital
$138,573Total liabilities
$129,626Total deposits
$138,573Interest-bearing deposits
$87Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$25,000Trading liabilities
$0Other borrowed funds
$832Subordinated debt
$15,181All other liabilities
$15,181Total equity capital
$15,181Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$14,118Surplus
$1,063Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$5,593Income earned, not collected on loans
$0Earning assets
$567Long-term assets (5+ years)
$168,238Average Assets, year-to-date
$37,413Average Assets, quarterly
$172,715Volatile liabilities
$176,573Insider loans
$128,144FHLB advances
$176,280Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$14,751Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$24,673Restructured Loans and leases
$176Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$7,872Total interest income
$2,146Total interest expense
$5,726Net interest income
$368Provision for loan and lease losses
$577Total noninterest income
$0Fiduciary activities
$354Service charges on deposit accounts
$0Trading account gains & fees
$223Additional noninterest income
$4,613Total noninterest expense
$2,290Salaries and employee benefits
$404Premises and equipment expense
$1,919Additional noninterest expense
$1,322Pre-tax net operating income
$0Securities gains (losses)
$468Applicable income taxes
$854Income before extraordinary items
$0Extraordinary gains - net
$854Net income attributable to bank
$0Net charge-offs
$854Cash dividends
$14Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.90%Yield on earning assets
1.34%Cost of funding earning assets
3.56%Net interest margin
0.36%Noninterest income to earning assets
2.87%Noninterest expense to earning assets
0.49%Net operating income to assets
0.49%Return on assets (ROA)
0.77%Pretax return on assets
5.86%Return on equity (ROE)
5.86%Retained earnings to average equity (YTD only)
0.01%Net charge-offs to loans
2628.57%Credit loss provision to net charge-offs
120.71%Efficiency ratio
73,187Assets per employee
5.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.01%Loss allowance to noncurrent loans
26.41%Noncurrent assets plus other real estate owned to assets
3.11%Noncurrent loans to loans
3.82%Net loans and leases to deposits
104.64%Net loans and leases to core deposits
111.76%Equity capital to assets
8.45%Core capital (leverage) ratio
8.37%Tier 1 risk-based capital ratio
11.51%Total risk-based capital ratio
Memoranda
$13Average assets
$172,715Average earning assets
$14,566Average equity
$160,702Average loans
List of branches
1 Massachusetts Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
35224
Bankgloucester
160 Main Street, Gloucester, MA 1930
January 01, 1887
Full Service Brick and Mortar
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