FDIC Certificate #: 90278 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:USTrust (#17971) Federal Reserve ID: 565200 Date Established: January 01, 1885 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 6 (Interstate: No) OTS Docket #: 8393 FDIC's unique #: 17868 Numeric code: 41 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: September 10, 1985 Last Structure Change Effective Date: July 21, 1998 Last Structure Change Process Date: July 23, 1998 Last Data Update: July 23, 1998 Data Source Date: April 05, 2012
Location
Address: 212 Elm Street, Somerville, MA 2144 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: $524.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
145Total employees (full-time equivalent)
$539,869Total assets
$7,908Cash and due from depository institutions
$177Interest-bearing balances
$91,472Securities
$2,805Federal funds sold & reverse repurchase agreements
$412,177Net loans & leases
$7,668Loan loss allowance
$0Trading account assets
$12,468Bank premises and fixed assets
$5,908Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$7,131All other assets
$539,869Total liabilities and capital
$503,992Total liabilities
$456,031Total deposits
$430,479Interest-bearing deposits
$456,031Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$43,376Other borrowed funds
$0Subordinated debt
$4,585All other liabilities
$35,877Total equity capital
$35,877Total bank equity capital
$35,877Perpetual preferred stock
$0Common stock
$16,659Surplus
$18,652Undivided profits
Memoranda
$566Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,238Earning assets
$0Long-term assets (5+ years)
$2,451Average Assets, year-to-date
$506,631Average Assets, quarterly
$137,859Volatile liabilities
$522,938Insider loans
$530,179FHLB advances
$87,759Loans and leases held for sale
$1,511Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$29,784Total unused commitments
$0Restructured Loans and leases
$372,987Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$42,351Total interest income
$22,185Total interest expense
$20,166Net interest income
$1,200Provision for loan and lease losses
$1,277Total noninterest income
$0Fiduciary activities
$694Service charges on deposit accounts
$0Trading account gains & fees
$583Additional noninterest income
$15,500Total noninterest expense
$7,290Salaries and employee benefits
$1,586Premises and equipment expense
$6,624Additional noninterest expense
$4,743Pre-tax net operating income
$0Securities gains (losses)
-$1,224Applicable income taxes
$5,967Income before extraordinary items
$0Extraordinary gains - net
$5,967Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$232Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.66%Yield on earning assets
4.54%Cost of funding earning assets
4.12%Net interest margin
0.26%Noninterest income to earning assets
3.17%Noninterest expense to earning assets
1.14%Net operating income to assets
1.14%Return on assets (ROA)
0.91%Pretax return on assets
18.25%Return on equity (ROE)
18.25%Retained earnings to average equity (YTD only)
-0.06%Net charge-offs to loans
-517.24%Credit loss provision to net charge-offs
0.00%Efficiency ratio
72,285Assets per employee
3.72%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.83%Loss allowance to noncurrent loans
236.81%Noncurrent assets plus other real estate owned to assets
1.69%Noncurrent loans to loans
0.77%Net loans and leases to deposits
90.38%Net loans and leases to core deposits
102.74%Equity capital to assets
6.65%Core capital (leverage) ratio
6.76%Tier 1 risk-based capital ratio
9.54%Total risk-based capital ratio
Memoranda
$11Average assets
$522,938Average earning assets
$32,693Average equity
$489,161Average loans
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