FDIC Certificate #: 17496 Status: Inactive Closing history: Office Sold Acquiring institution:Hudson United Bank (#12256) Federal Reserve ID: 943107 Date Established: October 07, 1955 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 9335 FDIC's unique #: 11477 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: October 07, 1955 Last Structure Change Effective Date: August 07, 2001 Last Structure Change Process Date: August 29, 2001 Last Data Update: May 02, 2006 Data Source Date: April 05, 2012
Location
Address: 280 Trumbull Street, Hartford, CT 6103 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
Other Liquidations and Closings
Change in Insurance Status
Office Sold
Financial Summary
Total assets: $468.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
220Total employees (full-time equivalent)
$437,760Total assets
$7,852Cash and due from depository institutions
$2,003Interest-bearing balances
$42,019Securities
$24,750Federal funds sold & reverse repurchase agreements
$238,190Net loans & leases
$8,115Loan loss allowance
$0Trading account assets
$4,548Bank premises and fixed assets
$0Other real estate owned
$11,605Goodwill and other intangibles
$0Life insurance assets
$108,796All other assets
$437,760Total liabilities and capital
$382,311Total liabilities
$295,655Total deposits
$285,872Interest-bearing deposits
$295,655Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$81,888Other borrowed funds
$0Subordinated debt
$4,768All other liabilities
$55,449Total equity capital
$55,449Total bank equity capital
$55,449Perpetual preferred stock
$0Common stock
$1,425Surplus
$29,691Undivided profits
Memoranda
$24,333Noncurrent loans and leases
$109,117Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5,549Earning assets
$0Long-term assets (5+ years)
$2,428Average Assets, year-to-date
$306,962Average Assets, quarterly
$22,011Volatile liabilities
$362,039Insider loans
$416,907FHLB advances
$352,035Loans and leases held for sale
$188Unused loan commitments
$0Tier 1 (core) risk-based capital
$57,000Tier 2 risk-based capital
$55,379Total risk weighted assets
$109,117Total unused commitments
$153Restructured Loans and leases
$7,141Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$31,370Total interest income
$22,212Total interest expense
$9,158Net interest income
$3,686Provision for loan and lease losses
$26,245Total noninterest income
$0Fiduciary activities
$2Service charges on deposit accounts
$0Trading account gains & fees
$26,243Additional noninterest income
$26,011Total noninterest expense
$17,117Salaries and employee benefits
$3,321Premises and equipment expense
$5,573Additional noninterest expense
$5,706Pre-tax net operating income
$204Securities gains (losses)
$1,915Applicable income taxes
$3,995Income before extraordinary items
$0Extraordinary gains - net
$3,995Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$3,904Sale, conversion, retirement of capital stock, net
$1,120Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
12.72%Yield on earning assets
9.00%Cost of funding earning assets
3.71%Net interest margin
10.64%Noninterest income to earning assets
10.54%Noninterest expense to earning assets
1.07%Net operating income to assets
1.10%Return on assets (ROA)
1.63%Pretax return on assets
7.17%Return on equity (ROE)
5.16%Retained earnings to average equity (YTD only)
2.15%Net charge-offs to loans
94.42%Credit loss provision to net charge-offs
2.41%Efficiency ratio
73,471Assets per employee
1.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
28.04%Loss allowance to loans
3.29%Loss allowance to noncurrent loans
146.24%Noncurrent assets plus other real estate owned to assets
1.27%Noncurrent loans to loans
2.25%Net loans and leases to deposits
80.56%Net loans and leases to core deposits
933.79%Equity capital to assets
12.67%Core capital (leverage) ratio
12.86%Tier 1 risk-based capital ratio
9.67%Total risk-based capital ratio
Memoranda
$11Average assets
$362,039Average earning assets
$55,708Average equity
$246,701Average loans
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