FDIC Certificate #: 26550 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Mechanics' Co-operative Bank (#26634) Federal Reserve ID: 70076 Date Established: January 01, 1902 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 35240 Numeric code: 42 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: Febuary 18, 1986 Last Structure Change Effective Date: November 01, 2007 Last Structure Change Process Date: December 03, 2007 Last Data Update: December 03, 2007 Data Source Date: April 05, 2012
Location
Address: 72 Main Street, Bridgewater, MA 2324 County: Plymouth Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: South Boston Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Brockton, MA (#1200) 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: Boston-Quincy, MA (#14484)
Financial Summary
Total assets: $12.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
6Total employees (full-time equivalent)
$14,887Total assets
$2,481Cash and due from depository institutions
$0Interest-bearing balances
$2,938Securities
$1,827Federal funds sold & reverse repurchase agreements
$6,405Net loans & leases
$114Loan loss allowance
$0Trading account assets
$637Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$599All other assets
$14,887Total liabilities and capital
$13,420Total liabilities
$13,393Total deposits
$11,783Interest-bearing deposits
$13,393Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$27All other liabilities
$1,467Total equity capital
$1,467Total bank equity capital
$1,467Perpetual preferred stock
$0Common stock
$0Surplus
$1,467Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$19Earning assets
$0Long-term assets (5+ years)
$20Average Assets, year-to-date
$11,170Average Assets, quarterly
$3,665Volatile liabilities
$15,001Insider loans
$14,457FHLB advances
$243Loans and leases held for sale
$333Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$97Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$734Total interest income
$151Total interest expense
$583Net interest income
$0Provision for loan and lease losses
$27Total noninterest income
$0Fiduciary activities
$6Service charges on deposit accounts
$0Trading account gains & fees
$21Additional noninterest income
$502Total noninterest expense
$259Salaries and employee benefits
$65Premises and equipment expense
$178Additional noninterest expense
$108Pre-tax net operating income
$0Securities gains (losses)
$31Applicable income taxes
$77Income before extraordinary items
$0Extraordinary gains - net
$77Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.73%Yield on earning assets
1.18%Cost of funding earning assets
4.55%Net interest margin
0.21%Noninterest income to earning assets
3.92%Noninterest expense to earning assets
0.51%Net operating income to assets
0.51%Return on assets (ROA)
0.72%Pretax return on assets
5.37%Return on equity (ROE)
5.37%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
82,295Assets per employee
2.48%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.75%Loss allowance to noncurrent loans
600.00%Noncurrent assets plus other real estate owned to assets
0.13%Noncurrent loans to loans
0.29%Net loans and leases to deposits
47.82%Net loans and leases to core deposits
48.71%Equity capital to assets
9.85%Core capital (leverage) ratio
10.35%Tier 1 risk-based capital ratio
18.96%Total risk-based capital ratio
Memoranda
$20Average assets
$15,001Average earning assets
$1,435Average equity
$12,802Average loans
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