Pacific National Bank of Nantucket in Nantucket, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 31, 1997

Pacific National Bank of Nantucket in Nantucket, Massachusetts (MA)
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Pacific National Bank of Nantucket - Overview

General
FDIC Certificate #: 2618
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fleet National Bank (#2558)
Federal Reserve ID: 698201
Date Established: January 01, 1804
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 2 (Interstate: No)
OTS Docket #: 9479
FDIC's unique #: 1697
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 31, 1997
Last Structure Change Process Date: November 17, 1997
Last Data Update: November 17, 1997
Data Source Date: April 05, 2012
Location
Address: 61 Main 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: $120.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$49Total assets
$102,385Cash and due from depository institutions
$4,780Interest-bearing balances
$103Securities
$17,263Federal funds sold & reverse repurchase agreements
$1,650Net loans & leases
$76,114Loan loss allowance
$2,349Trading account assets
$0Bank premises and fixed assets
$901Other real estate owned
$0Goodwill and other intangibles
$1,677Life insurance assets
$0All other assets
$0Total liabilities and capital
$102,385Total liabilities
$91,411Total deposits
$90,360Interest-bearing deposits
$74,570Deposits held in domestic offices
90360.00%% insured (estimated)
$86Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$179Subordinated debt
$0All other liabilities
$872Total equity capital
$872Total bank equity capital
$10,974Perpetual preferred stock
$0Common stock
$309Surplus
$5,035Undivided profits
Memoranda
$5,630Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$584Income earned, not collected on loans
$430Earning assets
$95,130Long-term assets (5+ years)
$4,293Average Assets, year-to-date
$101,953Average Assets, quarterly
$107,231Volatile liabilities
$2,047Insider loans
$3,190FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$21,284Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,974Total risk weighted assets
$58,648Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$8,194Total interest expense
$2,064Net interest income
$6,130Provision for loan and lease losses
$0Total noninterest income
$1,502Fiduciary activities
$0Service charges on deposit accounts
$537Trading account gains & fees
$0Additional noninterest income
$965Total noninterest expense
$4,695Salaries and employee benefits
$2,123Premises and equipment expense
$462Additional noninterest expense
$2,110Pre-tax net operating income
$2,937Securities gains (losses)
$0Applicable income taxes
$1,197Income before extraordinary items
$1,740Extraordinary gains - net
$0Net income attributable to bank
$1,740Net charge-offs
-$118Cash dividends
$593Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.62%Cost of funding earning assets
2.17%Net interest margin
6.45%Noninterest income to earning assets
1.58%Noninterest expense to earning assets
4.94%Net operating income to assets
1.71%Return on assets (ROA)
1.71%Pretax return on assets
2.88%Return on equity (ROE)
16.64%Retained earnings to average equity (YTD only)
10.97%Net charge-offs to loans
-0.15%Credit loss provision to net charge-offs
0.00%Efficiency ratio
61,517Assets per employee
2.09%Cash dividends to net income (YTD only)
Condition Ratios (%)
34.08%Loss allowance to loans
2.99%Loss allowance to noncurrent loans
402.23%Noncurrent assets plus other real estate owned to assets
0.57%Noncurrent loans to loans
0.74%Net loans and leases to deposits
84.23%Net loans and leases to core deposits
86.19%Equity capital to assets
10.72%Core capital (leverage) ratio
10.29%Tier 1 risk-based capital ratio
18.71%Total risk-based capital ratio
Memoranda
$20Average assets
$101,953Average earning assets
$10,457Average equity
$95,088Average loans

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