FDIC Certificate #: 26660 Status: Inactive Closing history: Corrections Acquiring institution:The Cooperative Bank (#26922) Federal Reserve ID: 273372 Date Established: January 01, 1913 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 4331 FDIC's unique #: 35393 Numeric code: 42 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes FDIC Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: May 07, 1986 Last Structure Change Effective Date: September 19, 1998 Last Structure Change Process Date: October 05, 1998 Last Data Update: October 05, 1998 Data Source Date: April 05, 2012
Location
Address: 201 Main Street, Charlestown, MA 2129 County: Suffolk 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 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)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $17.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
8Total employees (full-time equivalent)
$18,614Total assets
$710Cash and due from depository institutions
$15Interest-bearing balances
$646Securities
$713Federal funds sold & reverse repurchase agreements
$14,997Net loans & leases
$103Loan loss allowance
$0Trading account assets
$980Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$568All other assets
$18,614Total liabilities and capital
$16,803Total liabilities
$15,747Total deposits
$14,296Interest-bearing deposits
$15,747Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,000Other borrowed funds
$0Subordinated debt
$56All other liabilities
$1,811Total equity capital
$1,811Total bank equity capital
$1,811Perpetual preferred stock
$0Common stock
$0Surplus
$1,833Undivided profits
Memoranda
$-22Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$227Earning assets
$0Long-term assets (5+ years)
$92Average Assets, year-to-date
$16,371Average Assets, quarterly
$3,256Volatile liabilities
$18,258Insider loans
$18,814FHLB advances
$2,114Loans and leases held for sale
$239Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,152Total unused commitments
$0Restructured Loans and leases
$11,588Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$1,398Total interest income
$535Total interest expense
$863Net interest income
$10Provision for loan and lease losses
$77Total noninterest income
$0Fiduciary activities
$47Service charges on deposit accounts
$0Trading account gains & fees
$30Additional noninterest income
$746Total noninterest expense
$346Salaries and employee benefits
$102Premises and equipment expense
$298Additional noninterest expense
$184Pre-tax net operating income
$0Securities gains (losses)
$51Applicable income taxes
$133Income before extraordinary items
$0Extraordinary gains - net
$133Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$2Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.67%Yield on earning assets
3.32%Cost of funding earning assets
5.35%Net interest margin
0.48%Noninterest income to earning assets
4.63%Noninterest expense to earning assets
0.73%Net operating income to assets
0.73%Return on assets (ROA)
1.01%Pretax return on assets
7.66%Return on equity (ROE)
7.66%Retained earnings to average equity (YTD only)
-0.01%Net charge-offs to loans
-500.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
79,362Assets per employee
2.33%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.68%Loss allowance to noncurrent loans
45.37%Noncurrent assets plus other real estate owned to assets
1.22%Noncurrent loans to loans
1.50%Net loans and leases to deposits
95.24%Net loans and leases to core deposits
102.49%Equity capital to assets
9.73%Core capital (leverage) ratio
9.73%Tier 1 risk-based capital ratio
15.63%Total risk-based capital ratio
Memoranda
$17Average assets
$18,258Average earning assets
$1,736Average equity
$16,118Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Charlestown Co-operative Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: