Citizens Bank of Connecticut in New London, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 01, 2007

  • Citizens Bank of Connecticut in New London, Connecticut (CT)
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Citizens Bank of Connecticut - Overview

  • General
  • FDIC Certificate #: 18197
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: RBS Citizens, National Association (#57957)
    Federal Reserve ID: 586205
    Date Established: January 01, 1858
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 51 (Interstate: No)
    OTS Docket #: 7371
    FDIC's unique #: 12117
    Numeric code: 41
    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: July 01, 1960
    Last Structure Change Effective Date: September 01, 2007
    Last Structure Change Process Date: September 19, 2007
    Last Data Update: September 19, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 63 Eugene Oneill Drive, New London, CT 6320
    County: New London
    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): New London-Norwich, CT-RI (#5520)
    Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
    CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
  • Financial Summary
  • Total assets: $4,479.4 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, 2006)

  • Dollar figures in thousands
  • 414Total employees (full-time equivalent)
  • $4,617,028Total assets
  • $54,858Cash and due from depository institutions
  • $3,336Interest-bearing balances
  • $1,223,854Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $3,064,232Net loans & leases
  • $23,694Loan loss allowance
  • $14,059Trading account assets
  • $21,406Bank premises and fixed assets
  • $7,281Other real estate owned
  • $69,327Goodwill and other intangibles
  • $49,582Life insurance assets
  • $162,011All other assets
  • $4,617,028Total liabilities and capital
  • $4,226,626Total liabilities
  • $3,154,313Total deposits
  • $2,975,247Interest-bearing deposits
  • $3,154,313Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $584,173Federal funds purchased & repurchase agreements
  • $6,342Trading liabilities
  • $461,006Other borrowed funds
  • $0Subordinated debt
  • $20,792All other liabilities
  • $390,402Total equity capital
  • $390,402Total bank equity capital
  • $390,402Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $215,344Undivided profits
  • Memoranda
  • $175,058Noncurrent loans and leases
  • $1,522,590Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,232Earning assets
  • $1,664Long-term assets (5+ years)
  • $21,661Average Assets, year-to-date
  • $4,291,422Average Assets, quarterly
  • $2,373,110Volatile liabilities
  • $4,683,242Insider loans
  • $4,743,132FHLB advances
  • $1,587,499Loans and leases held for sale
  • $2,003Unused loan commitments
  • $460,266Tier 1 (core) risk-based capital
  • $1,612,122Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,522,590Total unused commitments
  • $0Restructured Loans and leases
  • $26,414Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $262,572Total interest income
  • $140,774Total interest expense
  • $121,798Net interest income
  • $6,126Provision for loan and lease losses
  • $39,482Total noninterest income
  • $700Fiduciary activities
  • $16,074Service charges on deposit accounts
  • $3,345Trading account gains & fees
  • $19,363Additional noninterest income
  • $69,622Total noninterest expense
  • $32,564Salaries and employee benefits
  • $14,897Premises and equipment expense
  • $22,161Additional noninterest expense
  • $85,532Pre-tax net operating income
  • $1,973Securities gains (losses)
  • $31,026Applicable income taxes
  • $56,479Income before extraordinary items
  • $0Extraordinary gains - net
  • $56,479Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,838Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.99%Yield on earning assets
  • 3.21%Cost of funding earning assets
  • 2.78%Net interest margin
  • 0.90%Noninterest income to earning assets
  • 1.59%Noninterest expense to earning assets
  • 1.18%Net operating income to assets
  • 1.21%Return on assets (ROA)
  • 1.87%Pretax return on assets
  • 15.77%Return on equity (ROE)
  • 15.77%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 159.61%Credit loss provision to net charge-offs
  • 23.88%Efficiency ratio
  • 42,513Assets per employee
  • 11.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.77%Loss allowance to noncurrent loans
  • 733.11%Noncurrent assets plus other real estate owned to assets
  • 0.07%Noncurrent loans to loans
  • 0.10%Net loans and leases to deposits
  • 97.14%Net loans and leases to core deposits
  • 117.98%Equity capital to assets
  • 8.46%Core capital (leverage) ratio
  • 7.01%Tier 1 risk-based capital ratio
  • 11.12%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $4,683,242Average earning assets
  • $358,230Average equity
  • $4,384,769Average loans

Total Fiduciary and Related Assets (December 31, 2006)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $86,533Managed Assets
  • 1Number of Accounts
  • $53,545Personal trust and agency accounts
  • $10,496Employee benefit-defined contribution accounts
  • $4,925Employee benefit-defined benefit accounts
  • $8,635Other retirement accounts
  • $5,260Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $24,229Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 51Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $32,988Other retirement accounts
  • $4,595Corporate trust and agency accounts
  • $28,205Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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