FDIC Certificate #: 26662 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Mt. Washington Co-operative Bank (#26552) Federal Reserve ID: 336071 Date Established: January 01, 1889 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 4957 FDIC's unique #: 35395 Numeric code: 42 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: May 07, 1986 Last Structure Change Effective Date: May 16, 2008 Last Structure Change Process Date: June 11, 2008 Last Data Update: June 11, 2008 Data Source Date: April 05, 2012
Location
Address: 515 Centre Street, Boston, MA 2130 County: Suffolk 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 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: Boston-Quincy, MA (#14484)
Financial Summary
Total assets: $25.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
9Total employees (full-time equivalent)
$25,560Total assets
$3,173Cash and due from depository institutions
$2,451Interest-bearing balances
$6,911Securities
$1,437Federal funds sold & reverse repurchase agreements
$13,403Net loans & leases
$194Loan loss allowance
$0Trading account assets
$179Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$457All other assets
$25,560Total liabilities and capital
$22,695Total liabilities
$21,585Total deposits
$21,378Interest-bearing deposits
$21,585Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,000Other borrowed funds
$0Subordinated debt
$110All other liabilities
$2,865Total equity capital
$2,865Total bank equity capital
$2,865Perpetual preferred stock
$0Common stock
$0Surplus
$2,865Undivided profits
Memoranda
$0Noncurrent loans and leases
$487Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$362Earning assets
$0Long-term assets (5+ years)
$117Average Assets, year-to-date
$24,202Average Assets, quarterly
$8,429Volatile liabilities
$25,379Insider loans
$25,502FHLB advances
$3,524Loans and leases held for sale
$0Unused loan commitments
$1,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$487Total unused commitments
$0Restructured Loans and leases
$145Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$1,451Total interest income
$515Total interest expense
$936Net interest income
$32Provision for loan and lease losses
$80Total noninterest income
$0Fiduciary activities
$65Service charges on deposit accounts
$0Trading account gains & fees
$15Additional noninterest income
$1,105Total noninterest expense
$585Salaries and employee benefits
$119Premises and equipment expense
$401Additional noninterest expense
-$121Pre-tax net operating income
$0Securities gains (losses)
-$48Applicable income taxes
-$73Income before extraordinary items
$0Extraordinary gains - net
-$73Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$6Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.04%Yield on earning assets
2.14%Cost of funding earning assets
3.90%Net interest margin
0.33%Noninterest income to earning assets
4.60%Noninterest expense to earning assets
-0.29%Net operating income to assets
-0.29%Return on assets (ROA)
-0.48%Pretax return on assets
-2.55%Return on equity (ROE)
-2.55%Retained earnings to average equity (YTD only)
0.04%Net charge-offs to loans
533.33%Credit loss provision to net charge-offs
-14.83%Efficiency ratio
108,760Assets per employee
2.84%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.43%Loss allowance to noncurrent loans
53.59%Noncurrent assets plus other real estate owned to assets
1.42%Noncurrent loans to loans
2.66%Net loans and leases to deposits
62.09%Net loans and leases to core deposits
70.32%Equity capital to assets
11.21%Core capital (leverage) ratio
11.47%Tier 1 risk-based capital ratio
24.80%Total risk-based capital ratio
Memoranda
$26Average assets
$25,379Average earning assets
$2,865Average equity
$24,012Average loans
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