FDIC Certificate #: 90222 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Country Bank for Savings (#23992) Federal Reserve ID: 730606 Date Established: April 17, 1869 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 9510 FDIC's unique #: 17812 Numeric code: 42 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: Febuary 11, 1986 Last Structure Change Effective Date: January 01, 1998 Last Structure Change Process Date: January 09, 1998 Last Data Update: January 09, 1998 Data Source Date: April 05, 2012
Location
Address: 1084 Main Street, Leicester, MA 1524 County: Worcester Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Springfield Ma Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240) 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): Worcester, MA (#49340) CBSA Metro Statistical Area: Worcester, MA (#49340)
Financial Summary
Total assets: $29.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
15Total employees (full-time equivalent)
$29,808Total assets
$4,054Cash and due from depository institutions
$3,202Interest-bearing balances
$5,061Securities
$0Federal funds sold & reverse repurchase agreements
$19,277Net loans & leases
$1,153Loan loss allowance
$0Trading account assets
$398Bank premises and fixed assets
$536Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$482All other assets
$29,808Total liabilities and capital
$29,761Total liabilities
$29,604Total deposits
$27,662Interest-bearing deposits
$29,604Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$157All other liabilities
$47Total equity capital
$47Total bank equity capital
$47Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$47Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$857Earning assets
$0Long-term assets (5+ years)
$147Average Assets, year-to-date
$27,540Average Assets, quarterly
$3,639Volatile liabilities
$32,039Insider loans
$30,529FHLB advances
$3,619Loans and leases held for sale
$292Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$405Total unused commitments
$0Restructured Loans and leases
$15,519Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$2,511Total interest income
$1,199Total interest expense
$1,312Net interest income
$1,308Provision for loan and lease losses
$80Total noninterest income
$0Fiduciary activities
$52Service charges on deposit accounts
$0Trading account gains & fees
$28Additional noninterest income
$1,912Total noninterest expense
$595Salaries and employee benefits
$259Premises and equipment expense
$1,058Additional noninterest expense
-$1,828Pre-tax net operating income
$0Securities gains (losses)
$106Applicable income taxes
-$1,934Income before extraordinary items
$0Extraordinary gains - net
-$1,934Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$831Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.47%Yield on earning assets
4.05%Cost of funding earning assets
4.43%Net interest margin
0.27%Noninterest income to earning assets
6.45%Noninterest expense to earning assets
-6.04%Net operating income to assets
-6.04%Return on assets (ROA)
-5.71%Pretax return on assets
-160.26%Return on equity (ROE)
-160.26%Retained earnings to average equity (YTD only)
3.49%Net charge-offs to loans
157.40%Credit loss provision to net charge-offs
-0.63%Efficiency ratio
137,356Assets per employee
1.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.64%Loss allowance to noncurrent loans
134.54%Noncurrent assets plus other real estate owned to assets
4.67%Noncurrent loans to loans
4.19%Net loans and leases to deposits
65.12%Net loans and leases to core deposits
74.19%Equity capital to assets
0.16%Core capital (leverage) ratio
0.15%Tier 1 risk-based capital ratio
0.30%Total risk-based capital ratio
Memoranda
$1Average assets
$32,039Average earning assets
$1,207Average equity
$29,640Average loans
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