Commonwealth National Bank in Worcester, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 01, 2009

  • Commonwealth National Bank in Worcester, Massachusetts (MA)
  • Show street view No street view available for this location

Commonwealth National Bank - Overview

  • General
  • FDIC Certificate #: 57201
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: United Bank (#26486)
    Federal Reserve ID: 3072053
    Date Established: November 19, 2001
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 6 (Interstate: No)
    FDIC's unique #: 359431
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: November 19, 2001
    Last Structure Change Effective Date: December 01, 2009
    Last Structure Change Process Date: December 10, 2009
    Last Data Update: December 10, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 33 Waldo Street, Worcester, MA 1608
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240)
    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): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • Financial Summary
  • Total assets: $285.9 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, 2008)

  • Dollar figures in thousands
  • 68Total employees (full-time equivalent)
  • $295,045Total assets
  • $4,392Cash and due from depository institutions
  • $72Interest-bearing balances
  • $40,114Securities
  • $215Federal funds sold & reverse repurchase agreements
  • $239,524Net loans & leases
  • $2,873Loan loss allowance
  • $0Trading account assets
  • $2,052Bank premises and fixed assets
  • $879Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $7,869All other assets
  • $295,045Total liabilities and capital
  • $270,294Total liabilities
  • $198,753Total deposits
  • $171,750Interest-bearing deposits
  • $198,753Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $14,035Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $55,650Other borrowed funds
  • $0Subordinated debt
  • $1,856All other liabilities
  • $24,751Total equity capital
  • $24,751Total bank equity capital
  • $24,751Perpetual preferred stock
  • $0Common stock
  • $10,566Surplus
  • $15,796Undivided profits
  • Memoranda
  • $-1,611Noncurrent loans and leases
  • $65,082Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,409Earning assets
  • $95Long-term assets (5+ years)
  • $977Average Assets, year-to-date
  • $279,925Average Assets, quarterly
  • $167,440Volatile liabilities
  • $297,137Insider loans
  • $296,312FHLB advances
  • $82,808Loans and leases held for sale
  • $11,865Unused loan commitments
  • $55,650Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $65,082Total unused commitments
  • $0Restructured Loans and leases
  • $2,934Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $17,731Total interest income
  • $7,487Total interest expense
  • $10,244Net interest income
  • $1,359Provision for loan and lease losses
  • $486Total noninterest income
  • $0Fiduciary activities
  • $302Service charges on deposit accounts
  • $0Trading account gains & fees
  • $184Additional noninterest income
  • $8,670Total noninterest expense
  • $4,798Salaries and employee benefits
  • $1,294Premises and equipment expense
  • $2,578Additional noninterest expense
  • $701Pre-tax net operating income
  • -$2,780Securities gains (losses)
  • -$870Applicable income taxes
  • -$1,209Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,209Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,330Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.27%Yield on earning assets
  • 2.65%Cost of funding earning assets
  • 3.62%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 3.07%Noninterest expense to earning assets
  • 0.19%Net operating income to assets
  • -0.41%Return on assets (ROA)
  • -0.70%Pretax return on assets
  • -4.76%Return on equity (ROE)
  • -4.76%Retained earnings to average equity (YTD only)
  • 0.58%Net charge-offs to loans
  • 102.18%Credit loss provision to net charge-offs
  • 1.55%Efficiency ratio
  • 80,801Assets per employee
  • 4.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.19%Loss allowance to noncurrent loans
  • 84.28%Noncurrent assets plus other real estate owned to assets
  • 1.45%Noncurrent loans to loans
  • 1.41%Net loans and leases to deposits
  • 120.51%Net loans and leases to core deposits
  • 162.69%Equity capital to assets
  • 8.39%Core capital (leverage) ratio
  • 7.92%Tier 1 risk-based capital ratio
  • 9.90%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $297,137Average earning assets
  • $25,417Average equity
  • $282,791Average loans

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