Citizens Bank of Massachusetts in Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 01, 2007

  • Citizens Bank of Massachusetts in Boston, Massachusetts (MA)
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Citizens Bank of Massachusetts - Overview

  • General
  • FDIC Certificate #: 18562
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: RBS Citizens, National Association (#57957)
    Federal Reserve ID: 14409
    Date Established: Febuary 22, 1825
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 262 (Interstate: No)
    OTS Docket #: 7913
    FDIC's unique #: 12450
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 16, 1962
    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: 28 State Street, Boston, MA 2110
    County: Suffolk
    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): 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: Boston-Quincy, MA (#14484)
  • Financial Summary
  • Total assets: $35,742.5 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
  • 3,119Total employees (full-time equivalent)
  • $35,276,018Total assets
  • $641,521Cash and due from depository institutions
  • $21,140Interest-bearing balances
  • $6,110,583Securities
  • $1,000,000Federal funds sold & reverse repurchase agreements
  • $24,278,267Net loans & leases
  • $178,270Loan loss allowance
  • $55,463Trading account assets
  • $147,975Bank premises and fixed assets
  • $35,322Other real estate owned
  • $1,922,098Goodwill and other intangibles
  • $295,248Life insurance assets
  • $1,084,789All other assets
  • $35,276,018Total liabilities and capital
  • $30,992,269Total liabilities
  • $23,418,081Total deposits
  • $21,763,753Interest-bearing deposits
  • $22,972,113Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,095,878Federal funds purchased & repurchase agreements
  • $28,944Trading liabilities
  • $3,860,338Other borrowed funds
  • $260,000Subordinated debt
  • $329,028All other liabilities
  • $4,283,749Total equity capital
  • $4,283,749Total bank equity capital
  • $4,283,749Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $2,532,380Undivided profits
  • Memoranda
  • $1,751,369Noncurrent loans and leases
  • $17,176,291Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $48,373Earning assets
  • $5,393Long-term assets (5+ years)
  • $159,740Average Assets, year-to-date
  • $31,409,990Average Assets, quarterly
  • $15,490,683Volatile liabilities
  • $35,395,649Insider loans
  • $35,395,738FHLB advances
  • $10,781,783Loans and leases held for sale
  • $96,474Unused loan commitments
  • $3,859,269Tier 1 (core) risk-based capital
  • $11,953,562Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $17,176,291Total unused commitments
  • $0Restructured Loans and leases
  • $465,314Derivatives
  • $30,218Total assets and liabilities in foreign offices

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $1,910,512Total interest income
  • $854,638Total interest expense
  • $1,055,874Net interest income
  • $69,328Provision for loan and lease losses
  • $418,324Total noninterest income
  • $2,819Fiduciary activities
  • $140,564Service charges on deposit accounts
  • $13,652Trading account gains & fees
  • $261,289Additional noninterest income
  • $665,714Total noninterest expense
  • $269,537Salaries and employee benefits
  • $125,282Premises and equipment expense
  • $270,895Additional noninterest expense
  • $739,156Pre-tax net operating income
  • -$1,355Securities gains (losses)
  • $261,830Applicable income taxes
  • $475,971Income before extraordinary items
  • $0Extraordinary gains - net
  • $475,971Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $87,612Sale, conversion, retirement of capital stock, net
  • $150,000Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.97%Yield on earning assets
  • 2.67%Cost of funding earning assets
  • 3.30%Net interest margin
  • 1.31%Noninterest income to earning assets
  • 2.08%Noninterest expense to earning assets
  • 1.35%Net operating income to assets
  • 1.34%Return on assets (ROA)
  • 2.08%Pretax return on assets
  • 11.53%Return on equity (ROE)
  • 7.89%Retained earnings to average equity (YTD only)
  • 0.36%Net charge-offs to loans
  • 79.13%Credit loss provision to net charge-offs
  • 9.23%Efficiency ratio
  • 43,406Assets per employee
  • 11.31%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.51%Loss allowance to loans
  • 0.73%Loss allowance to noncurrent loans
  • 368.53%Noncurrent assets plus other real estate owned to assets
  • 0.15%Noncurrent loans to loans
  • 0.20%Net loans and leases to deposits
  • 103.67%Net loans and leases to core deposits
  • 124.48%Equity capital to assets
  • 12.14%Core capital (leverage) ratio
  • 7.38%Tier 1 risk-based capital ratio
  • 9.27%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $35,395,649Average earning assets
  • $4,129,390Average equity
  • $32,026,825Average 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
  • $629,690Managed Assets
  • 1Number of Accounts
  • $494,224Personal trust and agency accounts
  • $7,966Employee benefit-defined contribution accounts
  • $10,060Employee benefit-defined benefit accounts
  • $343Other retirement accounts
  • $14,783Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $461,072Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 208Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $135,466Other retirement accounts
  • $2,064Corporate trust and agency accounts
  • $104,415Other fiduciary accounts
  • $11,406Fiduciary accounts held in foreign offices

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