FDIC Certificate #: 22055 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Sovereign Bank, National Association (#29950) Federal Reserve ID: 885001 Date Established: April 01, 1834 WWW:http://www.nantucketbank.com Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 11354 FDIC's unique #: 15307 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: July 01, 1975 Last Structure Change Effective Date: July 23, 2004 Last Structure Change Process Date: October 05, 2004 Last Data Update: October 05, 2004 Data Source Date: April 05, 2012
Location
Address: 104 Pleasant Street, Nantucket, MA 2554 County: Nantucket 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
Financial Summary
Total assets: $571.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
81Total employees (full-time equivalent)
$485,321Total assets
$15,814Cash and due from depository institutions
$1,297Interest-bearing balances
$41,353Securities
$0Federal funds sold & reverse repurchase agreements
$373,169Net loans & leases
$5,205Loan loss allowance
$0Trading account assets
$10,406Bank premises and fixed assets
$0Other real estate owned
$34,251Goodwill and other intangibles
$0Life insurance assets
$10,328All other assets
$485,321Total liabilities and capital
$408,523Total liabilities
$297,744Total deposits
$263,697Interest-bearing deposits
$297,744Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$103,805Other borrowed funds
$0Subordinated debt
$6,974All other liabilities
$76,798Total equity capital
$76,798Total bank equity capital
$76,798Perpetual preferred stock
$0Common stock
$100Surplus
$9,016Undivided profits
Memoranda
$67,682Noncurrent loans and leases
$72,169Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$137Earning assets
$0Long-term assets (5+ years)
$1,824Average Assets, year-to-date
$415,819Average Assets, quarterly
$169,223Volatile liabilities
$476,568Insider loans
$489,468FHLB advances
$83,397Loans and leases held for sale
$4,567Unused loan commitments
$103,800Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,624Total risk weighted assets
$72,169Total unused commitments
$0Restructured Loans and leases
$4,019Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$25,548Total interest income
$7,787Total interest expense
$17,761Net interest income
$200Provision for loan and lease losses
$2,356Total noninterest income
$0Fiduciary activities
$692Service charges on deposit accounts
$0Trading account gains & fees
$1,664Additional noninterest income
$8,766Total noninterest expense
$4,909Salaries and employee benefits
$1,210Premises and equipment expense
$2,647Additional noninterest expense
$11,151Pre-tax net operating income
$309Securities gains (losses)
$5,918Applicable income taxes
$5,542Income before extraordinary items
$0Extraordinary gains - net
$5,542Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$16Sale, conversion, retirement of capital stock, net
$1,000Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.28%Yield on earning assets
1.91%Cost of funding earning assets
4.37%Net interest margin
0.58%Noninterest income to earning assets
2.16%Noninterest expense to earning assets
1.12%Net operating income to assets
1.16%Return on assets (ROA)
2.40%Pretax return on assets
7.54%Return on equity (ROE)
6.18%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
1250.00%Credit loss provision to net charge-offs
709.44%Efficiency ratio
43,575Assets per employee
5.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
18.04%Loss allowance to loans
1.38%Loss allowance to noncurrent loans
3799.27%Noncurrent assets plus other real estate owned to assets
0.03%Noncurrent loans to loans
0.04%Net loans and leases to deposits
125.33%Net loans and leases to core deposits
153.35%Equity capital to assets
15.82%Core capital (leverage) ratio
9.05%Tier 1 risk-based capital ratio
13.10%Total risk-based capital ratio
Memoranda
$14Average assets
$476,568Average earning assets
$73,543Average equity
$406,656Average loans
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