FDIC Certificate #: 29656 Status: Active Federal Reserve ID: 402275 Date Established: January 01, 1933 WWW:http://www.firstfedsavings.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 3835 FDIC's unique #: 42490 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: Yes Asset Concentration Hierarchy: Mortgage Lending Specialization Date of Deposit Insurance: May 09, 1936 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 19 School St, 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)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $74.3 mil Equity capital: $12.8 mil Deposits held in domestic offices: $52.4 mil Return on assets (ROA): -0.56% (-$0.4 mil) Quarterly return on assets: 0.10% ($0.1 mil) Return on Equity (ROE): -3.44% (-$0.4 mil) Quarterly return on equity: 0.56% ($0.1 mil) Net income: -$0.5 mil Quarterly Net income: $0.0 mil Pretax return on assets: -0.50% (-$371.4 mil) Quarterly Pretax return on assets: 0.18% ($133.7 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
102Total employees (full-time equivalent)
$74,285Total assets
$3,262Cash and due from depository institutions
$18Interest-bearing balances
$5Securities
$0Federal funds sold & reverse repurchase agreements
$57,519Net loans & leases
$435Loan loss allowance
$0Trading account assets
$2,249Bank premises and fixed assets
$284Other real estate owned
$8,788Goodwill and other intangibles
$74,287Life insurance assets
$2,178All other assets
$61,482Total liabilities and capital
$52,388Total liabilities
$37,427Total deposits
$52,388Interest-bearing deposits
$95Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$7,927Trading liabilities
$0Other borrowed funds
$1,167Subordinated debt
$12,805All other liabilities
$12,805Total equity capital
$12,805Total bank equity capital
$0Perpetual preferred stock
$1Common stock
$5,727Surplus
$7,077Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,198Income earned, not collected on loans
$0Earning assets
$170Long-term assets (5+ years)
$57,542Average Assets, year-to-date
$0Average Assets, quarterly
$82,375Volatile liabilities
$73,096Insider loans
$40,114FHLB advances
$72,714Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$11,234Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$36,425Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$2,608Total interest income
$571Total interest expense
$2,037Net interest income
$0Provision for loan and lease losses
$1,227Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$1,227Additional noninterest income
$12,006Total noninterest expense
$9,205Salaries and employee benefits
$1,415Premises and equipment expense
$1,386Additional noninterest expense
-$8,742Pre-tax net operating income
$8,327Securities gains (losses)
$44Applicable income taxes
-$459Income before extraordinary items
$0Extraordinary gains - net
-$459Net income attributable to bank
$0Net charge-offs
-$459Cash dividends
$0Sale, conversion, retirement of capital stock, net
$1,000Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.99%Yield on earning assets
0.87%Cost of funding earning assets
3.12%Net interest margin
1.88%Noninterest income to earning assets
18.37%Noninterest expense to earning assets
-10.67%Net operating income to assets
-0.56%Return on assets (ROA)
-0.50%Pretax return on assets
-3.44%Return on equity (ROE)
-10.94%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
367,831Assets per employee
0.73%Cash dividends to net income (YTD only)
Condition Ratios (%)
-217.86%Loss allowance to loans
0.75%Loss allowance to noncurrent loans
19.79%Noncurrent assets plus other real estate owned to assets
3.34%Noncurrent loans to loans
3.79%Net loans and leases to deposits
109.79%Net loans and leases to core deposits
148.42%Equity capital to assets
17.24%Core capital (leverage) ratio
15.45%Tier 1 risk-based capital ratio
28.01%Total risk-based capital ratio
Memoranda
$29Average assets
$82,375Average earning assets
$13,339Average equity
$65,356Average loans
List of branches
1 Massachusetts Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
42490
First Federal Savings Bank Of Boston
19 School St, Boston, MA 2108
January 01, 1933
Full Service Brick and Mortar
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 First Federal Savings Bank of Boston.
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.
Comment about this bank, ask questions, or add new information about it: