Middlesex Federal Savings, F.A. in Somerville, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Middlesex Federal Savings, F.A. in Somerville, Massachusetts (MA)
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Middlesex Federal Savings, F.A. - Overview

  • General
  • FDIC Certificate #: 28368
    Status: Active
    Federal Reserve ID: 87579
    Date Established: January 01, 1890
    WWW: http://www.middlesexfederal.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 1452
    FDIC's unique #: 41202
    Numeric code: 38
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: Febuary 08, 1937
    Last Structure Change Effective Date: August 22, 2011
    Last Structure Change Process Date: November 28, 2011
    Last Data Update: November 28, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 College Ave, Somerville, MA 2144
    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: $354.3 mil
    Equity capital: $35.7 mil
    Deposits held in domestic offices: $285.8 mil
    Return on assets (ROA): -0.61% (-$2.2 mil)
    Quarterly return on assets: -0.68% (-$2.4 mil)
    Return on Equity (ROE): -5.96% (-$2.1 mil)
    Quarterly return on equity: -6.72% (-$2.4 mil)
    Net income: -$2.2 mil
    Quarterly Net income: -$0.6 mil
    Pretax return on assets: -0.91% (-$3,224.0 mil)
    Quarterly Pretax return on assets: -1.03% (-$3,649.2 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, 2011)

  • Dollar figures in thousands
  • 42Total employees (full-time equivalent)
  • $354,290Total assets
  • $46,571Cash and due from depository institutions
  • $40,925Interest-bearing balances
  • $77,852Securities
  • $7,492Federal funds sold & reverse repurchase agreements
  • $202,809Net loans & leases
  • $4,080Loan loss allowance
  • $0Trading account assets
  • $1,414Bank premises and fixed assets
  • $3,567Other real estate owned
  • $0Goodwill and other intangibles
  • $354,290Life insurance assets
  • $14,585All other assets
  • $318,541Total liabilities and capital
  • $285,775Total liabilities
  • $281,745Total deposits
  • $285,775Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $25,936Trading liabilities
  • $0Other borrowed funds
  • $6,830Subordinated debt
  • $35,749All other liabilities
  • $35,749Total equity capital
  • $35,749Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $35,749Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $18,062Income earned, not collected on loans
  • $0Earning assets
  • $1,022Long-term assets (5+ years)
  • $329,078Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $364,306Volatile liabilities
  • $353,829Insider loans
  • $193,731FHLB advances
  • $350,617Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $33,929Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,918Restructured Loans and leases
  • $211Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,682Total interest income
  • $6,177Total interest expense
  • $8,505Net interest income
  • $1,165Provision for loan and lease losses
  • -$564Total noninterest income
  • $0Fiduciary activities
  • $6Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$570Additional noninterest income
  • $10,099Total noninterest expense
  • $4,506Salaries and employee benefits
  • $933Premises and equipment expense
  • $4,660Additional noninterest expense
  • -$3,323Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,109Applicable income taxes
  • -$2,214Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,214Net income attributable to bank
  • $0Net charge-offs
  • -$2,214Cash dividends
  • $637Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.36%Yield on earning assets
  • 1.83%Cost of funding earning assets
  • 2.52%Net interest margin
  • -0.17%Noninterest income to earning assets
  • 3.00%Noninterest expense to earning assets
  • -0.61%Net operating income to assets
  • -0.61%Return on assets (ROA)
  • -0.91%Pretax return on assets
  • -5.96%Return on equity (ROE)
  • -5.96%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 182.89%Credit loss provision to net charge-offs
  • -3.39%Efficiency ratio
  • 127,175Assets per employee
  • 8.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.97%Loss allowance to noncurrent loans
  • 22.59%Noncurrent assets plus other real estate owned to assets
  • 6.10%Noncurrent loans to loans
  • 8.73%Net loans and leases to deposits
  • 70.97%Net loans and leases to core deposits
  • 76.77%Equity capital to assets
  • 10.09%Core capital (leverage) ratio
  • 9.68%Tier 1 risk-based capital ratio
  • 17.51%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $364,306Average earning assets
  • $37,141Average equity
  • $337,062Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    041202Middlesex Federal Savings, F.A.1 College Ave, Somerville, MA 2144January 01, 1890Full Service Brick and Mortar
    22669981196 Broadway Branch1196 Broadway, Somerville, MA 2144January 01, 1890Full Service Brick and Mortar
    100266999Riverside Ave Branch53 Riverside Avenue, Medford, MA 2155January 01, 1890Full Service Brick and Mortar

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