FDIC Certificate #: 26593 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Commonwealth Co-operative Bank (#29842) Federal Reserve ID: 1015177 Date Established: January 01, 1927 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 35298 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: March 07, 1986 Last Structure Change Effective Date: December 31, 2008 Last Structure Change Process Date: January 29, 2009 Last Data Update: January 29, 2009 Data Source Date: April 05, 2012
Location
Address: Two Center Plaza, Boston, MA 2108 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 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: $45.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
7Total employees (full-time equivalent)
$42,528Total assets
$1,200Cash and due from depository institutions
$27Interest-bearing balances
$9,751Securities
$0Federal funds sold & reverse repurchase agreements
$30,433Net loans & leases
$193Loan loss allowance
$0Trading account assets
$77Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,067All other assets
$42,528Total liabilities and capital
$38,276Total liabilities
$38,080Total deposits
$38,080Interest-bearing deposits
$38,080Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$196All other liabilities
$4,252Total equity capital
$4,252Total bank equity capital
$4,252Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$4,252Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$115Average Assets, year-to-date
$40,211Average Assets, quarterly
$31,623Volatile liabilities
$42,100Insider loans
$41,861FHLB advances
$5,194Loans and leases held for sale
$1,110Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$193Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$2,342Total interest income
$1,212Total interest expense
$1,130Net interest income
$0Provision for loan and lease losses
$126Total noninterest income
$0Fiduciary activities
$14Service charges on deposit accounts
$0Trading account gains & fees
$112Additional noninterest income
$1,452Total noninterest expense
$579Salaries and employee benefits
$165Premises and equipment expense
$708Additional noninterest expense
-$196Pre-tax net operating income
-$9Securities gains (losses)
$1Applicable income taxes
-$206Income before extraordinary items
$0Extraordinary gains - net
-$206Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$33Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.88%Yield on earning assets
3.04%Cost of funding earning assets
2.84%Net interest margin
0.32%Noninterest income to earning assets
3.64%Noninterest expense to earning assets
-0.47%Net operating income to assets
-0.49%Return on assets (ROA)
-0.49%Pretax return on assets
-4.84%Return on equity (ROE)
-4.84%Retained earnings to average equity (YTD only)
-0.11%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
115,605Assets per employee
6.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.63%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
79.92%Net loans and leases to core deposits
92.54%Equity capital to assets
10.00%Core capital (leverage) ratio
9.14%Tier 1 risk-based capital ratio
18.96%Total risk-based capital ratio
Memoranda
$20Average assets
$42,100Average earning assets
$4,258Average equity
$39,856Average loans
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