Cortland Savings Bank in Cortland, New York (NY)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 08, 2002

  • Cortland Savings Bank in Cortland, New York (NY)
  • Show street view No street view available for this location

Cortland Savings Bank - Overview

  • General
  • FDIC Certificate #: 15964
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Niagara Bank, National Association (#16004)
    Federal Reserve ID: 48208
    Date Established: April 13, 1866
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 13587
    FDIC's unique #: 10195
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 01, 1943
    Last Structure Change Effective Date: November 08, 2002
    Last Structure Change Process Date: December 13, 2002
    Last Data Update: December 13, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 North Main Street, Cortland, NY 13045
    County: Cortland
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Syracuse
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Combined Statistical Area (CSA): Ithaca-Cortland, NY (#296)
    Core Based Statistical Area (CBSA): Cortland, NY (#18660)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $270.0 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, 2001)

  • Dollar figures in thousands
  • 62Total employees (full-time equivalent)
  • $255,617Total assets
  • $6,626Cash and due from depository institutions
  • $9Interest-bearing balances
  • $38,057Securities
  • $3,980Federal funds sold & reverse repurchase agreements
  • $177,801Net loans & leases
  • $2,413Loan loss allowance
  • $0Trading account assets
  • $3,229Bank premises and fixed assets
  • $66Other real estate owned
  • $15,638Goodwill and other intangibles
  • $0Life insurance assets
  • $10,220All other assets
  • $255,617Total liabilities and capital
  • $222,816Total liabilities
  • $209,772Total deposits
  • $196,087Interest-bearing deposits
  • $209,772Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $8,367Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,000Other borrowed funds
  • $0Subordinated debt
  • $3,677All other liabilities
  • $32,801Total equity capital
  • $32,801Total bank equity capital
  • $32,801Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $29,664Undivided profits
  • Memoranda
  • $3,137Noncurrent loans and leases
  • $17,558Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,330Earning assets
  • $0Long-term assets (5+ years)
  • $1,196Average Assets, year-to-date
  • $219,847Average Assets, quarterly
  • $93,339Volatile liabilities
  • $254,220Insider loans
  • $255,881FHLB advances
  • $28,067Loans and leases held for sale
  • $2,531Unused loan commitments
  • $1,000Tier 1 (core) risk-based capital
  • $291Tier 2 risk-based capital
  • $291Total risk weighted assets
  • $17,558Total unused commitments
  • $679Restructured Loans and leases
  • $2,054Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $17,499Total interest income
  • $8,760Total interest expense
  • $8,739Net interest income
  • $220Provision for loan and lease losses
  • $1,220Total noninterest income
  • $0Fiduciary activities
  • $751Service charges on deposit accounts
  • $0Trading account gains & fees
  • $469Additional noninterest income
  • $6,672Total noninterest expense
  • $2,471Salaries and employee benefits
  • $772Premises and equipment expense
  • $3,429Additional noninterest expense
  • $3,067Pre-tax net operating income
  • $14Securities gains (losses)
  • $1,357Applicable income taxes
  • $1,724Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,724Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $181Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.93%Yield on earning assets
  • 3.97%Cost of funding earning assets
  • 3.96%Net interest margin
  • 0.55%Noninterest income to earning assets
  • 3.02%Noninterest expense to earning assets
  • 0.67%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 1.21%Pretax return on assets
  • 5.40%Return on equity (ROE)
  • 5.40%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 121.55%Credit loss provision to net charge-offs
  • 18.16%Efficiency ratio
  • 58,520Assets per employee
  • 4.12%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.34%Loss allowance to noncurrent loans
  • 181.43%Noncurrent assets plus other real estate owned to assets
  • 0.55%Noncurrent loans to loans
  • 0.74%Net loans and leases to deposits
  • 84.76%Net loans and leases to core deposits
  • 93.05%Equity capital to assets
  • 12.83%Core capital (leverage) ratio
  • 6.88%Tier 1 risk-based capital ratio
  • 10.04%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $254,220Average earning assets
  • $31,941Average equity
  • $220,620Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Cortland Savings Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents