Merrimac Savings Bank in Merrimac, Massachusetts (MA), NH
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Merrimac Savings Bank in Merrimac, Massachusetts (MA), NH
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Merrimac Savings Bank routing number info

Merrimac Savings Bank - Overview

  • General
  • FDIC Certificate #: 90240
    Status: Active
    Federal Reserve ID: 875909
    Date Established: April 19, 1871
    WWW: http://www.merrimacbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: Yes)
    FDIC's unique #: 17830
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: November 19, 1985
    Last Structure Change Effective Date: October 23, 2006
    Last Structure Change Process Date: October 23, 2006
    Last Data Update: October 23, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 West Main Street, Merrimac, MA 1860
    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): Lawrence, MA-NH (#4160)
    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)
  • Financial Summary
  • Total assets: $63.4 mil
    Equity capital: $4.5 mil
    Deposits held in domestic offices: $56.2 mil
    Return on assets (ROA): 0.58% ($0.4 mil)
    Quarterly return on assets: 0.41% ($0.3 mil)
    Return on Equity (ROE): 9.30% ($0.5 mil)
    Quarterly return on equity: 5.86% ($0.3 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.63% ($399.1 mil)
    Quarterly Pretax return on assets: 0.19% ($120.4 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
  • 21Total employees (full-time equivalent)
  • $63,350Total assets
  • $1,945Cash and due from depository institutions
  • $47Interest-bearing balances
  • $18,639Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $40,033Net loans & leases
  • $374Loan loss allowance
  • $0Trading account assets
  • $1,600Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $63,350Life insurance assets
  • $1,133All other assets
  • $58,818Total liabilities and capital
  • $56,165Total liabilities
  • $48,227Total deposits
  • $56,165Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 909.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,666Trading liabilities
  • $0Other borrowed funds
  • $78Subordinated debt
  • $4,532All other liabilities
  • $4,532Total equity capital
  • $4,532Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $4,532Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $842Income earned, not collected on loans
  • $0Earning assets
  • $261Long-term assets (5+ years)
  • $58,719Average Assets, year-to-date
  • $36,996Average Assets, quarterly
  • $63,553Volatile liabilities
  • $63,420Insider loans
  • $34,309FHLB advances
  • $61,755Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $4,092Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,667Restructured Loans and leases
  • $159Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,674Total interest income
  • $347Total interest expense
  • $2,327Net interest income
  • $161Provision for loan and lease losses
  • $498Total noninterest income
  • $0Fiduciary activities
  • $199Service charges on deposit accounts
  • $0Trading account gains & fees
  • $299Additional noninterest income
  • $2,455Total noninterest expense
  • $1,155Salaries and employee benefits
  • $279Premises and equipment expense
  • $1,021Additional noninterest expense
  • $209Pre-tax net operating income
  • $190Securities gains (losses)
  • $29Applicable income taxes
  • $370Income before extraordinary items
  • $0Extraordinary gains - net
  • $370Net income attributable to bank
  • $0Net charge-offs
  • $370Cash dividends
  • $97Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.53%Yield on earning assets
  • 0.59%Cost of funding earning assets
  • 3.95%Net interest margin
  • 0.84%Noninterest income to earning assets
  • 4.16%Noninterest expense to earning assets
  • 0.30%Net operating income to assets
  • 0.58%Return on assets (ROA)
  • 0.63%Pretax return on assets
  • 9.30%Return on equity (ROE)
  • 9.30%Retained earnings to average equity (YTD only)
  • 0.24%Net charge-offs to loans
  • 165.98%Credit loss provision to net charge-offs
  • 3.81%Efficiency ratio
  • 86,903Assets per employee
  • 3.02%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.93%Loss allowance to noncurrent loans
  • 44.42%Noncurrent assets plus other real estate owned to assets
  • 1.33%Noncurrent loans to loans
  • 2.08%Net loans and leases to deposits
  • 71.28%Net loans and leases to core deposits
  • 76.03%Equity capital to assets
  • 7.15%Core capital (leverage) ratio
  • 6.63%Tier 1 risk-based capital ratio
  • 11.93%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $63,553Average earning assets
  • $3,977Average equity
  • $58,982Average loans

List of branches

  • 1 Massachusetts Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    017830Merrimac Savings Bank1 West Main Street, Merrimac, MA 1860April 19, 1871Full Service Brick and Mortar
  • 1 New Hampshire Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    1433586Newton Nh Branch29 South Main Street, Newton, NH 3858December 15, 2004Full Service Brick and Mortar

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