Safety Fund National Bank in Fitchburg, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 11, 1998

  • Safety Fund National Bank in Fitchburg, Massachusetts (MA)
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Safety Fund National Bank - Overview

  • General
  • FDIC Certificate #: 2580
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Family Bank, National Association (#90209)
    Federal Reserve ID: 807405
    Date Established: April 17, 1874
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 10 (Interstate: No)
    OTS Docket #: 13839
    FDIC's unique #: 1673
    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: April 11, 1998
    Last Structure Change Process Date: April 30, 1998
    Last Data Update: April 30, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 470 Main Street, Fitchburg, MA 1420
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Fitchburg-Leominster, MA (#2600)
    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): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • Financial Summary
  • Total assets: $329.6 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 166Total employees (full-time equivalent)
  • $342,408Total assets
  • $17,012Cash and due from depository institutions
  • $2Interest-bearing balances
  • $96,253Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $205,690Net loans & leases
  • $6,593Loan loss allowance
  • $0Trading account assets
  • $9,729Bank premises and fixed assets
  • $121Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $13,603All other assets
  • $342,408Total liabilities and capital
  • $319,042Total liabilities
  • $271,928Total deposits
  • $200,425Interest-bearing deposits
  • $271,928Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $43,035Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $678Other borrowed funds
  • $0Subordinated debt
  • $3,401All other liabilities
  • $23,366Total equity capital
  • $23,366Total bank equity capital
  • $23,366Perpetual preferred stock
  • $0Common stock
  • $1,415Surplus
  • $7,955Undivided profits
  • Memoranda
  • $13,996Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,815Earning assets
  • $187Long-term assets (5+ years)
  • $1,147Average Assets, year-to-date
  • $301,945Average Assets, quarterly
  • $104,740Volatile liabilities
  • $340,616Insider loans
  • $345,888FHLB advances
  • $57,143Loans and leases held for sale
  • $4,917Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $43,947Total unused commitments
  • $0Restructured Loans and leases
  • $209,674Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $24,501Total interest income
  • $10,373Total interest expense
  • $14,128Net interest income
  • $0Provision for loan and lease losses
  • $5,481Total noninterest income
  • $2,902Fiduciary activities
  • $1,140Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,439Additional noninterest income
  • $14,053Total noninterest expense
  • $7,255Salaries and employee benefits
  • $1,965Premises and equipment expense
  • $4,833Additional noninterest expense
  • $5,556Pre-tax net operating income
  • $116Securities gains (losses)
  • $1,629Applicable income taxes
  • $4,043Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,043Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $478Sale, conversion, retirement of capital stock, net
  • $3,100Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.11%Yield on earning assets
  • 3.43%Cost of funding earning assets
  • 4.68%Net interest margin
  • 1.81%Noninterest income to earning assets
  • 4.65%Noninterest expense to earning assets
  • 1.16%Net operating income to assets
  • 1.19%Return on assets (ROA)
  • 1.67%Pretax return on assets
  • 17.91%Return on equity (ROE)
  • 4.18%Retained earnings to average equity (YTD only)
  • 0.24%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 11.62%Efficiency ratio
  • 71,666Assets per employee
  • 2.06%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 76.68%Loss allowance to loans
  • 3.11%Loss allowance to noncurrent loans
  • 172.82%Noncurrent assets plus other real estate owned to assets
  • 1.15%Noncurrent loans to loans
  • 1.80%Net loans and leases to deposits
  • 75.64%Net loans and leases to core deposits
  • 79.78%Equity capital to assets
  • 6.82%Core capital (leverage) ratio
  • 6.78%Tier 1 risk-based capital ratio
  • 10.98%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $340,616Average earning assets
  • $22,578Average equity
  • $302,137Average loans

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