FDIC Certificate #: 23290 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Citizens Bank of Massachusetts (#18562) Federal Reserve ID: 943004 Date Established: January 01, 1869 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 19 (Interstate: No) OTS Docket #: 8450 FDIC's unique #: 16323 Numeric code: 41 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: January 02, 1981 Last Structure Change Effective Date: October 15, 2002 Last Structure Change Process Date: November 12, 2002 Last Data Update: November 12, 2002 Data Source Date: April 05, 2012
Location
Address: 29 High Street, Medford, MA 2155 County: Middlesex 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: Cambridge-Newton-Framingham, MA (#15764)
Financial Summary
Total assets: $1,473.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
267Total employees (full-time equivalent)
$1,412,335Total assets
$18,210Cash and due from depository institutions
$0Interest-bearing balances
$645,285Securities
$28,280Federal funds sold & reverse repurchase agreements
$675,977Net loans & leases
$7,080Loan loss allowance
$0Trading account assets
$11,578Bank premises and fixed assets
$0Other real estate owned
$1,532Goodwill and other intangibles
$0Life insurance assets
$31,473All other assets
$1,412,335Total liabilities and capital
$1,302,316Total liabilities
$1,097,562Total deposits
$1,022,854Interest-bearing deposits
$1,097,562Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$200,281Other borrowed funds
$0Subordinated debt
$4,473All other liabilities
$110,019Total equity capital
$110,019Total bank equity capital
$110,019Perpetual preferred stock
$0Common stock
$2,271Surplus
$29,151Undivided profits
Memoranda
$78,597Noncurrent loans and leases
$84,295Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$977Earning assets
$0Long-term assets (5+ years)
$9,596Average Assets, year-to-date
$1,349,542Average Assets, quarterly
$173,423Volatile liabilities
$1,364,741Insider loans
$1,407,737FHLB advances
$164,663Loans and leases held for sale
$619Unused loan commitments
$200,281Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$84,295Total unused commitments
$0Restructured Loans and leases
$7,083Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$89,147Total interest income
$51,144Total interest expense
$38,003Net interest income
$150Provision for loan and lease losses
$3,106Total noninterest income
$0Fiduciary activities
$1,357Service charges on deposit accounts
$0Trading account gains & fees
$1,749Additional noninterest income
$21,541Total noninterest expense
$12,170Salaries and employee benefits
$2,914Premises and equipment expense
$6,457Additional noninterest expense
$19,418Pre-tax net operating income
$2,121Securities gains (losses)
$7,749Applicable income taxes
$13,790Income before extraordinary items
$0Extraordinary gains - net
$13,790Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$20Sale, conversion, retirement of capital stock, net
$9,450Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.84%Yield on earning assets
3.92%Cost of funding earning assets
2.91%Net interest margin
0.24%Noninterest income to earning assets
1.65%Noninterest expense to earning assets
0.91%Net operating income to assets
1.01%Return on assets (ROA)
1.58%Pretax return on assets
13.09%Return on equity (ROE)
4.12%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
750.00%Credit loss provision to net charge-offs
978.40%Efficiency ratio
49,831Assets per employee
5.29%Cash dividends to net income (YTD only)
Condition Ratios (%)
68.53%Loss allowance to loans
1.04%Loss allowance to noncurrent loans
724.67%Noncurrent assets plus other real estate owned to assets
0.07%Noncurrent loans to loans
0.14%Net loans and leases to deposits
61.59%Net loans and leases to core deposits
66.72%Equity capital to assets
7.79%Core capital (leverage) ratio
7.32%Tier 1 risk-based capital ratio
12.74%Total risk-based capital ratio
Memoranda
$14Average assets
$1,364,741Average earning assets
$105,347Average equity
$1,304,198Average loans
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