FDIC Certificate #: 90273 Status: Active Federal Reserve ID: 198103 Date Established: March 21, 1884 WWW:http://www.granitesavingsbank.com Trust Powers Granted: No Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 10990 FDIC's unique #: 17863 Numeric code: 42 Regulator: FDIC 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: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: All Other Specialization < 1 Billion Date of Deposit Insurance: January 16, 1986 Last Structure Change Effective Date: June 29, 2009 Last Structure Change Process Date: July 07, 2009 Last Data Update: July 07, 2009 Data Source Date: April 05, 2012
Location
Address: 247 Main Street, Rockport, MA 1966 County: Essex 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: Peabody, MA (#37764)
History of Changes
Change in Location
Financial Summary
Total assets: $74.2 mil Equity capital: $9.8 mil Deposits held in domestic offices: $59.5 mil Return on assets (ROA): 0.00% ($0.0 mil) Quarterly return on assets: 0.11% ($0.1 mil) Return on Equity (ROE): 0.03% ($0.0 mil) Quarterly return on equity: 0.87% ($0.1 mil) Net income: $0.0 mil Quarterly Net income: $0.0 mil Pretax return on assets: -0.02% (-$14.8 mil) Quarterly Pretax return on assets: 0.02% ($14.8 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
15Total employees (full-time equivalent)
$74,212Total assets
$1,045Cash and due from depository institutions
$25Interest-bearing balances
$21,096Securities
$4,318Federal funds sold & reverse repurchase agreements
$40,522Net loans & leases
$610Loan loss allowance
$0Trading account assets
$6,189Bank premises and fixed assets
$0Other real estate owned
$35Goodwill and other intangibles
$74,212Life insurance assets
$1,007All other assets
$64,456Total liabilities and capital
$59,546Total liabilities
$56,770Total deposits
$59,546Interest-bearing deposits
$86Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$4,221Trading liabilities
$0Other borrowed funds
$689Subordinated debt
$9,756All other liabilities
$9,756Total equity capital
$9,756Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$9,756Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$278Income earned, not collected on loans
$0Earning assets
$294Long-term assets (5+ years)
$65,961Average Assets, year-to-date
$23,999Average Assets, quarterly
$72,861Volatile liabilities
$73,399Insider loans
$42,620FHLB advances
$72,066Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$9,591Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$5,051Restructured Loans and leases
$1,274Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$2,529Total interest income
$603Total interest expense
$1,926Net interest income
$60Provision for loan and lease losses
$170Total noninterest income
$0Fiduciary activities
$27Service charges on deposit accounts
$0Trading account gains & fees
$143Additional noninterest income
$2,136Total noninterest expense
$965Salaries and employee benefits
$396Premises and equipment expense
$775Additional noninterest expense
-$100Pre-tax net operating income
$84Securities gains (losses)
-$19Applicable income taxes
$3Income before extraordinary items
$0Extraordinary gains - net
$3Net income attributable to bank
$0Net charge-offs
$3Cash dividends
-$1Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.92%Yield on earning assets
0.93%Cost of funding earning assets
2.98%Net interest margin
0.26%Noninterest income to earning assets
3.31%Noninterest expense to earning assets
-0.07%Net operating income to assets
0.00%Return on assets (ROA)
-0.02%Pretax return on assets
0.03%Return on equity (ROE)
0.03%Retained earnings to average equity (YTD only)
-0.00%Net charge-offs to loans
-6000.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
101,908Assets per employee
4.95%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.48%Loss allowance to noncurrent loans
219.42%Noncurrent assets plus other real estate owned to assets
0.37%Noncurrent loans to loans
0.68%Net loans and leases to deposits
68.05%Net loans and leases to core deposits
74.91%Equity capital to assets
13.15%Core capital (leverage) ratio
13.31%Tier 1 risk-based capital ratio
22.50%Total risk-based capital ratio
Memoranda
$24Average assets
$72,861Average earning assets
$9,685Average equity
$64,548Average loans
List of branches
1 Massachusetts Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
17863
Granite Savings Bank
247 Main Street, Rockport, MA 1966
March 21, 1884
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 Granite 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.
Comment about this bank, ask questions, or add new information about it: