South Boston Savings Bank in Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 28, 1996

  • South Boston Savings Bank in Boston, Massachusetts (MA)
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South Boston Savings Bank - Overview

  • General
  • FDIC Certificate #: 90164
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 97103
    Date Established: March 03, 1863
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 7 (Interstate: No)
    OTS Docket #: 8410
    FDIC's unique #: 17759
    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: May 06, 1985
    Last Structure Change Effective Date: June 28, 1996
    Last Structure Change Process Date: July 08, 1996
    Last Data Update: July 08, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 460 West Broadway, Boston, MA 2127
    County: Suffolk
    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: Boston-Quincy, MA (#14484)
  • Financial Summary
  • Total assets: $1,629.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $173Total assets
  • $1,727,631Cash and due from depository institutions
  • $22,244Interest-bearing balances
  • $50Securities
  • $1,298,051Federal funds sold & reverse repurchase agreements
  • $15,450Net loans & leases
  • $351,546Loan loss allowance
  • $2,077Trading account assets
  • $0Bank premises and fixed assets
  • $9,485Other real estate owned
  • $7,020Goodwill and other intangibles
  • $23,835Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $1,727,631Total liabilities
  • $1,539,364Total deposits
  • $1,363,177Interest-bearing deposits
  • $1,346,577Deposits held in domestic offices
  • 1363177.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $57,875Trading liabilities
  • $0Other borrowed funds
  • $97,216Subordinated debt
  • $0All other liabilities
  • $21,096Total equity capital
  • $21,096Total bank equity capital
  • $188,267Perpetual preferred stock
  • $0Common stock
  • $4,934Surplus
  • $124,954Undivided profits
  • Memoranda
  • $58,379Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,124Income earned, not collected on loans
  • $2,230Earning assets
  • $1,665,097Long-term assets (5+ years)
  • $918,328Average Assets, year-to-date
  • $1,966,110Average Assets, quarterly
  • $1,886,092Volatile liabilities
  • $227,629Insider loans
  • $2,919FHLB advances
  • $0Loans and leases held for sale
  • $142,551Unused loan commitments
  • $5,818Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $163,868Total risk weighted assets
  • $645,673Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $137,364Total interest expense
  • $85,474Net interest income
  • $51,890Provision for loan and lease losses
  • $2,667Total noninterest income
  • $5,477Fiduciary activities
  • $0Service charges on deposit accounts
  • $874Trading account gains & fees
  • $0Additional noninterest income
  • $4,603Total noninterest expense
  • $42,828Salaries and employee benefits
  • $12,861Premises and equipment expense
  • $2,320Additional noninterest expense
  • $27,647Pre-tax net operating income
  • $11,872Securities gains (losses)
  • $35,730Applicable income taxes
  • $13,622Income before extraordinary items
  • $33,980Extraordinary gains - net
  • $0Net income attributable to bank
  • $33,980Net charge-offs
  • $11,134Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.24%Cost of funding earning assets
  • 4.50%Net interest margin
  • 2.73%Noninterest income to earning assets
  • 0.29%Noninterest expense to earning assets
  • 2.26%Net operating income to assets
  • 0.44%Return on assets (ROA)
  • 1.73%Pretax return on assets
  • 2.42%Return on equity (ROE)
  • 22.68%Retained earnings to average equity (YTD only)
  • 22.68%Net charge-offs to loans
  • 2.97%Credit loss provision to net charge-offs
  • 23.95%Efficiency ratio
  • 74,656Assets per employee
  • 9.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.59%Loss allowance to noncurrent loans
  • 50.36%Noncurrent assets plus other real estate owned to assets
  • 0.65%Noncurrent loans to loans
  • 1.17%Net loans and leases to deposits
  • 25.79%Net loans and leases to core deposits
  • 28.97%Equity capital to assets
  • 10.90%Core capital (leverage) ratio
  • 9.32%Tier 1 risk-based capital ratio
  • 25.38%Total risk-based capital ratio
  • Memoranda
  • $26Average assets
  • $1,966,110Average earning assets
  • $149,812Average equity
  • $1,897,422Average loans

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