FDIC Certificate #: 90172 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Citizens Bank of Massachusetts (#18562) Federal Reserve ID: 173801 Date Established: Febuary 22, 1853 WWW:http://www.cambridgeport.com Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 12 (Interstate: No) OTS Docket #: 7990 FDIC's unique #: 17765 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes FDIC Insured: Yes Insured Savings Institution: Yes Oakar Institutions: Yes State Chartered: Yes Date of Deposit Insurance: August 21, 1985 Last Structure Change Effective Date: July 31, 2003 Last Structure Change Process Date: September 04, 2003 Last Data Update: September 04, 2003 Data Source Date: April 05, 2012
Location
Address: 689 Massachusetts Avenue, Cambridge, MA 2139 County: Middlesex 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: Cambridge-Newton-Framingham, MA (#15764)
Financial Summary
Total assets: $1,507.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
180Total employees (full-time equivalent)
$1,444,508Total assets
$19,705Cash and due from depository institutions
$4,317Interest-bearing balances
$527,719Securities
$0Federal funds sold & reverse repurchase agreements
$850,061Net loans & leases
$10,007Loan loss allowance
$0Trading account assets
$22,499Bank premises and fixed assets
$0Other real estate owned
$41Goodwill and other intangibles
$0Life insurance assets
$24,483All other assets
$1,444,508Total liabilities and capital
$1,346,099Total liabilities
$1,163,359Total deposits
$1,125,179Interest-bearing deposits
$1,163,359Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$175,566Other borrowed funds
$0Subordinated debt
$7,174All other liabilities
$98,409Total equity capital
$98,409Total bank equity capital
$98,409Perpetual preferred stock
$0Common stock
$585Surplus
$71,168Undivided profits
Memoranda
$26,656Noncurrent loans and leases
$232,037Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$361Earning assets
$0Long-term assets (5+ years)
$5,846Average Assets, year-to-date
$1,382,097Average Assets, quarterly
$595,346Volatile liabilities
$1,303,712Insider loans
$1,430,509FHLB advances
$119,401Loans and leases held for sale
$400Unused loan commitments
$175,566Tier 1 (core) risk-based capital
$63,374Tier 2 risk-based capital
$13,718Total risk weighted assets
$232,037Total unused commitments
$0Restructured Loans and leases
$8,768Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$79,685Total interest income
$36,188Total interest expense
$43,497Net interest income
$650Provision for loan and lease losses
$5,292Total noninterest income
$0Fiduciary activities
$1,386Service charges on deposit accounts
$0Trading account gains & fees
$3,906Additional noninterest income
$26,918Total noninterest expense
$16,255Salaries and employee benefits
$3,393Premises and equipment expense
$7,270Additional noninterest expense
$21,221Pre-tax net operating income
$72Securities gains (losses)
$7,919Applicable income taxes
$13,374Income before extraordinary items
$0Extraordinary gains - net
$13,374Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$36Sale, conversion, retirement of capital stock, net
$8,005Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.42%Yield on earning assets
2.92%Cost of funding earning assets
3.50%Net interest margin
0.43%Noninterest income to earning assets
2.17%Noninterest expense to earning assets
1.02%Net operating income to assets
1.03%Return on assets (ROA)
1.63%Pretax return on assets
14.35%Return on equity (ROE)
5.76%Retained earnings to average equity (YTD only)
-0.00%Net charge-offs to loans
-1805.56%Credit loss provision to net charge-offs
0.00%Efficiency ratio
55,172Assets per employee
8.03%Cash dividends to net income (YTD only)
Condition Ratios (%)
59.85%Loss allowance to loans
1.16%Loss allowance to noncurrent loans
2772.02%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.04%Net loans and leases to deposits
73.07%Net loans and leases to core deposits
79.78%Equity capital to assets
6.81%Core capital (leverage) ratio
6.46%Tier 1 risk-based capital ratio
13.19%Total risk-based capital ratio
Memoranda
$14Average assets
$1,303,712Average earning assets
$93,167Average equity
$1,241,061Average loans
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