FDIC Certificate #: 30060 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Mechanics' Co-operative Bank (#26634) Federal Reserve ID: 957971 Date Established: January 01, 1894 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 4658 FDIC's unique #: 42894 Numeric code: 34 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: May 15, 1984 Last Structure Change Effective Date: September 01, 2008 Last Structure Change Process Date: September 23, 2008 Last Data Update: September 23, 2008 Data Source Date: April 05, 2012
Location
Address: 60 Bedford Street, Fall River, MA 2720 County: Bristol Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: South Boston Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480) Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148) Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300) CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
Financial Summary
Total assets: $111.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
31Total employees (full-time equivalent)
$111,873Total assets
$2,640Cash and due from depository institutions
$1,735Interest-bearing balances
$63,645Securities
$1,090Federal funds sold & reverse repurchase agreements
$42,251Net loans & leases
$413Loan loss allowance
$0Trading account assets
$331Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,916All other assets
$111,873Total liabilities and capital
$100,163Total liabilities
$92,033Total deposits
$87,791Interest-bearing deposits
$92,033Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,032Other borrowed funds
$0Subordinated debt
$98All other liabilities
$11,710Total equity capital
$11,710Total bank equity capital
$11,710Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$11,710Noncurrent loans and leases
$885Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$75Earning assets
$0Long-term assets (5+ years)
$565Average Assets, year-to-date
$108,721Average Assets, quarterly
$0Volatile liabilities
$109,922Insider loans
$111,121FHLB advances
$23,083Loans and leases held for sale
$1,034Unused loan commitments
$8,032Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$885Total unused commitments
$0Restructured Loans and leases
$398Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$5,365Total interest income
$2,964Total interest expense
$2,401Net interest income
$0Provision for loan and lease losses
$173Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$173Additional noninterest income
$2,234Total noninterest expense
$1,444Salaries and employee benefits
$390Premises and equipment expense
$400Additional noninterest expense
$340Pre-tax net operating income
$0Securities gains (losses)
$108Applicable income taxes
$232Income before extraordinary items
$0Extraordinary gains - net
$232Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.02%Yield on earning assets
2.77%Cost of funding earning assets
2.25%Net interest margin
0.16%Noninterest income to earning assets
2.09%Noninterest expense to earning assets
0.21%Net operating income to assets
0.21%Return on assets (ROA)
0.31%Pretax return on assets
2.00%Return on equity (ROE)
2.00%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
86,791Assets per employee
3.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.97%Loss allowance to noncurrent loans
550.67%Noncurrent assets plus other real estate owned to assets
0.07%Noncurrent loans to loans
0.18%Net loans and leases to deposits
45.91%Net loans and leases to core deposits
54.88%Equity capital to assets
10.47%Core capital (leverage) ratio
10.69%Tier 1 risk-based capital ratio
37.69%Total risk-based capital ratio
Memoranda
$39Average assets
$109,922Average earning assets
$11,628Average equity
$106,912Average loans
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