FDIC Certificate #: 26445 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Fidelity Co-operative Bank (#26451) Federal Reserve ID: 327471 Date Established: January 01, 1908 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 8359 FDIC's unique #: 33086 Numeric code: 42 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes FDIC Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: December 05, 1985 Last Structure Change Effective Date: March 15, 1998 Last Structure Change Process Date: March 26, 1998 Last Data Update: March 26, 1998 Data Source Date: April 05, 2012
Location
Address: 25 Main Street, Shirley, MA 1464 County: Middlesex Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: North 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: Cambridge-Newton-Framingham, MA (#15764)
Financial Summary
Total assets: $25.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
10Total employees (full-time equivalent)
$25,169Total assets
$3,483Cash and due from depository institutions
$3,233Interest-bearing balances
$4,536Securities
$0Federal funds sold & reverse repurchase agreements
$16,587Net loans & leases
$123Loan loss allowance
$0Trading account assets
$360Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$203All other assets
$25,169Total liabilities and capital
$23,187Total liabilities
$21,526Total deposits
$20,259Interest-bearing deposits
$21,526Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,550Other borrowed funds
$0Subordinated debt
$111All other liabilities
$1,982Total equity capital
$1,982Total bank equity capital
$1,982Perpetual preferred stock
$0Common stock
$0Surplus
$1,983Undivided profits
Memoranda
$-1Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$56Earning assets
$0Long-term assets (5+ years)
$93Average Assets, year-to-date
$24,356Average Assets, quarterly
$4,770Volatile liabilities
$24,513Insider loans
$25,137FHLB advances
$1,549Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,986Total unused commitments
$0Restructured Loans and leases
$13,670Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$1,809Total interest income
$814Total interest expense
$995Net interest income
$8Provision for loan and lease losses
$199Total noninterest income
$0Fiduciary activities
$98Service charges on deposit accounts
$0Trading account gains & fees
$101Additional noninterest income
$1,012Total noninterest expense
$449Salaries and employee benefits
$91Premises and equipment expense
$472Additional noninterest expense
$174Pre-tax net operating income
$0Securities gains (losses)
$62Applicable income taxes
$112Income before extraordinary items
$0Extraordinary gains - net
$112Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.69%Yield on earning assets
3.46%Cost of funding earning assets
4.23%Net interest margin
0.85%Noninterest income to earning assets
4.30%Noninterest expense to earning assets
0.46%Net operating income to assets
0.46%Return on assets (ROA)
0.71%Pretax return on assets
5.82%Return on equity (ROE)
5.82%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
84,757Assets per employee
2.52%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.74%Loss allowance to noncurrent loans
219.64%Noncurrent assets plus other real estate owned to assets
0.22%Noncurrent loans to loans
0.34%Net loans and leases to deposits
77.06%Net loans and leases to core deposits
80.03%Equity capital to assets
7.87%Core capital (leverage) ratio
7.81%Tier 1 risk-based capital ratio
14.51%Total risk-based capital ratio
Memoranda
$15Average assets
$24,513Average earning assets
$1,923Average equity
$23,513Average loans
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