FDIC Certificate #: 57475 Status: Inactive Closing history: Corrections Acquiring institution:Liberty Bank (#17943) Federal Reserve ID: 3151837 Date Established: November 18, 2002 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 364046 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: November 18, 2002 Last Structure Change Effective Date: December 03, 2010 Last Structure Change Process Date: January 06, 2011 Last Data Update: January 06, 2011 Data Source Date: April 05, 2012
Location
Address: 1190 Silas Deane Highway, Wethersfield, CT 6109 County: Hartford 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): Hartford, CT (#3280) Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278) Core Based Statistical Area (CBSA): Hartford-West Hartford-East Hartford, CT (#25540) CBSA Metro Statistical Area: Hartford-West Hartford-East Hartford, CT (#25540)
History of Changes
Merger - Without Assistance
Office Sold
Corrections
Financial Summary
Total assets: $165.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
32Total employees (full-time equivalent)
$174,788Total assets
$1,570Cash and due from depository institutions
$89Interest-bearing balances
$34,786Securities
$388Federal funds sold & reverse repurchase agreements
$132,157Net loans & leases
$2,331Loan loss allowance
$0Trading account assets
$1,369Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,518All other assets
$174,788Total liabilities and capital
$160,997Total liabilities
$132,700Total deposits
$115,991Interest-bearing deposits
$132,700Deposits held in domestic offices
92.73%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$26,752Other borrowed funds
$0Subordinated debt
$1,545All other liabilities
$13,791Total equity capital
$13,791Total bank equity capital
$13,791Perpetual preferred stock
$0Common stock
$15Surplus
$14,719Undivided profits
Memoranda
$-943Noncurrent loans and leases
$14,957Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,048Earning assets
$574Long-term assets (5+ years)
$698Average Assets, year-to-date
$167,420Average Assets, quarterly
$28,293Volatile liabilities
$183,225Insider loans
$179,363FHLB advances
$39,311Loans and leases held for sale
$3,713Unused loan commitments
$26,752Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$14,957Total unused commitments
$2,827Restructured Loans and leases
$1,717Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$10,572Total interest income
$4,469Total interest expense
$6,103Net interest income
$2,512Provision for loan and lease losses
$489Total noninterest income
$0Fiduciary activities
$343Service charges on deposit accounts
$0Trading account gains & fees
$146Additional noninterest income
$4,901Total noninterest expense
$2,601Salaries and employee benefits
$630Premises and equipment expense
$1,670Additional noninterest expense
-$821Pre-tax net operating income
$592Securities gains (losses)
-$74Applicable income taxes
-$155Income before extraordinary items
$0Extraordinary gains - net
-$155Net income attributable to bank
$0Net charge-offs
-$155Cash dividends
$2,277Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.99%Yield on earning assets
2.53%Cost of funding earning assets
3.46%Net interest margin
0.28%Noninterest income to earning assets
2.78%Noninterest expense to earning assets
-0.30%Net operating income to assets
-0.08%Return on assets (ROA)
-0.12%Pretax return on assets
-1.10%Return on equity (ROE)
-1.10%Retained earnings to average equity (YTD only)
1.69%Net charge-offs to loans
110.32%Credit loss provision to net charge-offs
0.74%Efficiency ratio
74,348Assets per employee
5.46%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.73%Loss allowance to noncurrent loans
57.58%Noncurrent assets plus other real estate owned to assets
2.32%Noncurrent loans to loans
3.01%Net loans and leases to deposits
99.59%Net loans and leases to core deposits
131.10%Equity capital to assets
7.89%Core capital (leverage) ratio
7.50%Tier 1 risk-based capital ratio
9.81%Total risk-based capital ratio
Memoranda
$11Average assets
$183,225Average earning assets
$14,143Average equity
$176,593Average loans
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