FDIC Certificate #: 26446 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Eastern Bank (#32773) Federal Reserve ID: 332970 Date Established: January 01, 1912 WWW:http://www.sharonco-opbank.com Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 1396 FDIC's unique #: 33087 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: December 05, 1985 Last Structure Change Effective Date: May 12, 2007 Last Structure Change Process Date: May 25, 2007 Last Data Update: May 25, 2007 Data Source Date: April 05, 2012
Location
Address: 7 South Main Street, Sharon, MA 2067 County: Norfolk 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: $67.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
11Total employees (full-time equivalent)
$67,781Total assets
$2,697Cash and due from depository institutions
$0Interest-bearing balances
$15,799Securities
$6,521Federal funds sold & reverse repurchase agreements
$40,264Net loans & leases
$176Loan loss allowance
$0Trading account assets
$702Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$555Life insurance assets
$1,798All other assets
$67,781Total liabilities and capital
$60,552Total liabilities
$60,389Total deposits
$57,539Interest-bearing deposits
$60,389Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$17Other borrowed funds
$0Subordinated debt
$146All other liabilities
$7,229Total equity capital
$7,229Total bank equity capital
$7,229Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$7,229Noncurrent loans and leases
$8,107Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$361Average Assets, year-to-date
$62,584Average Assets, quarterly
$33,371Volatile liabilities
$69,632Insider loans
$68,055FHLB advances
$9,088Loans and leases held for sale
$476Unused loan commitments
$17Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,107Total unused commitments
$0Restructured Loans and leases
$175Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$3,456Total interest income
$1,615Total interest expense
$1,841Net interest income
$0Provision for loan and lease losses
$180Total noninterest income
$0Fiduciary activities
$65Service charges on deposit accounts
$0Trading account gains & fees
$115Additional noninterest income
$1,773Total noninterest expense
$844Salaries and employee benefits
$201Premises and equipment expense
$728Additional noninterest expense
$248Pre-tax net operating income
$0Securities gains (losses)
$87Applicable income taxes
$161Income before extraordinary items
$0Extraordinary gains - net
$161Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.28%Yield on earning assets
2.47%Cost of funding earning assets
2.81%Net interest margin
0.28%Noninterest income to earning assets
2.71%Noninterest expense to earning assets
0.23%Net operating income to assets
0.23%Return on assets (ROA)
0.36%Pretax return on assets
2.29%Return on equity (ROE)
2.29%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
248.00%Efficiency ratio
87,729Assets per employee
6.16%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.44%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
66.67%Net loans and leases to core deposits
78.49%Equity capital to assets
10.67%Core capital (leverage) ratio
10.71%Tier 1 risk-based capital ratio
18.45%Total risk-based capital ratio
Memoranda
$19Average assets
$69,632Average earning assets
$7,024Average equity
$65,403Average loans
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