FDIC Certificate #: 32836 Status: Active Federal Reserve ID: 1439054 Date Established: Febuary 28, 1990 WWW:http://www.primebankct.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 14265 FDIC's unique #: 45748 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: 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: Commercial Lending Specialization Date of Deposit Insurance: Febuary 28, 1990 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 7 Old Tavern Road, Orange, CT 6477 County: New Haven Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Hartford Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): New Haven-Meriden, CT (#5480) Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70) Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408) Core Based Statistical Area (CBSA): New Haven-Milford, CT (#35300) CBSA Metro Statistical Area: New Haven-Milford, CT (#35300)
History of Changes
Corrections
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $53.8 mil Equity capital: $8.3 mil Deposits held in domestic offices: $45.4 mil Return on assets (ROA): 0.53% ($0.3 mil) Quarterly return on assets: 0.82% ($0.4 mil) Return on Equity (ROE): 3.50% ($0.3 mil) Quarterly return on equity: 5.34% ($0.4 mil) Net income: $0.3 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.36% ($193.7 mil) Quarterly Pretax return on assets: 0.75% ($403.6 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
8Total employees (full-time equivalent)
$53,814Total assets
$9,688Cash and due from depository institutions
$8,603Interest-bearing balances
$16,904Securities
$0Federal funds sold & reverse repurchase agreements
$26,203Net loans & leases
$352Loan loss allowance
$0Trading account assets
$12Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$53,814Life insurance assets
$1,007All other assets
$45,564Total liabilities and capital
$45,425Total liabilities
$40,051Total deposits
$45,425Interest-bearing deposits
$87Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$139Subordinated debt
$8,250All other liabilities
$8,250Total equity capital
$8,250Total bank equity capital
$0Perpetual preferred stock
$1,121Common stock
$3,903Surplus
$3,226Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$550Income earned, not collected on loans
$0Earning assets
$221Long-term assets (5+ years)
$51,710Average Assets, year-to-date
$19,090Average Assets, quarterly
$52,831Volatile liabilities
$53,498Insider loans
$29,873FHLB advances
$53,322Loans and leases held for sale
$395Unused loan commitments
$0Tier 1 (core) risk-based capital
$7,905Tier 2 risk-based capital
$395Total risk weighted assets
$0Total unused commitments
$3,219Restructured Loans and leases
$1,036Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$2,317Total interest income
$643Total interest expense
$1,674Net interest income
$584Provision for loan and lease losses
$255Total noninterest income
$0Fiduciary activities
$106Service charges on deposit accounts
$0Trading account gains & fees
$149Additional noninterest income
$1,441Total noninterest expense
$784Salaries and employee benefits
$114Premises and equipment expense
$543Additional noninterest expense
-$96Pre-tax net operating income
$288Securities gains (losses)
-$87Applicable income taxes
$279Income before extraordinary items
$0Extraordinary gains - net
$279Net income attributable to bank
$0Net charge-offs
$279Cash dividends
$633Sale, conversion, retirement of capital stock, net
$112Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.62%Yield on earning assets
1.28%Cost of funding earning assets
3.34%Net interest margin
0.51%Noninterest income to earning assets
2.87%Noninterest expense to earning assets
-0.02%Net operating income to assets
0.53%Return on assets (ROA)
0.36%Pretax return on assets
3.50%Return on equity (ROE)
2.10%Retained earnings to average equity (YTD only)
2.40%Net charge-offs to loans
92.26%Credit loss provision to net charge-offs
0.77%Efficiency ratio
74,702Assets per employee
6.73%Cash dividends to net income (YTD only)
Condition Ratios (%)
40.14%Loss allowance to loans
1.33%Loss allowance to noncurrent loans
64.00%Noncurrent assets plus other real estate owned to assets
1.02%Noncurrent loans to loans
2.07%Net loans and leases to deposits
57.68%Net loans and leases to core deposits
68.55%Equity capital to assets
15.33%Core capital (leverage) ratio
14.83%Tier 1 risk-based capital ratio
26.46%Total risk-based capital ratio
Memoranda
$28Average assets
$52,831Average earning assets
$7,971Average equity
$50,140Average loans
List of branches
1 Connecticut Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
45748
Prime Bank
7 Old Tavern Road, Orange, CT 6477
Febuary 28, 1990
Full Service Brick and Mortar
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