FDIC Certificate #: 90238 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Middlesex Savings Bank (#90183) Federal Reserve ID: 760108 Date Established: January 01, 1871 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 8 (Interstate: No) OTS Docket #: 10887 FDIC's unique #: 17828 Numeric code: 41 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: August 19, 1985 Last Structure Change Effective Date: July 01, 2009 Last Structure Change Process Date: July 16, 2009 Last Data Update: July 16, 2009 Data Source Date: April 05, 2012
Location
Address: 81 Main Street, Medway, MA 2053 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: $369.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
93Total employees (full-time equivalent)
$385,809Total assets
$4,854Cash and due from depository institutions
$361Interest-bearing balances
$30,063Securities
$8Federal funds sold & reverse repurchase agreements
$320,414Net loans & leases
$3,574Loan loss allowance
$0Trading account assets
$4,766Bank premises and fixed assets
$4,625Other real estate owned
$59Goodwill and other intangibles
$5,321Life insurance assets
$21,020All other assets
$385,809Total liabilities and capital
$364,238Total liabilities
$244,582Total deposits
$211,115Interest-bearing deposits
$244,582Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$117,798Other borrowed funds
$0Subordinated debt
$1,858All other liabilities
$21,571Total equity capital
$21,571Total bank equity capital
$21,571Perpetual preferred stock
$0Common stock
$0Surplus
$30,643Undivided profits
Memoranda
$-9,072Noncurrent loans and leases
$40,540Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$6,122Earning assets
$0Long-term assets (5+ years)
$1,423Average Assets, year-to-date
$350,846Average Assets, quarterly
$157,701Volatile liabilities
$406,105Insider loans
$393,640FHLB advances
$93,492Loans and leases held for sale
$640Unused loan commitments
$117,798Tier 1 (core) risk-based capital
$2,126Tier 2 risk-based capital
$459Total risk weighted assets
$40,540Total unused commitments
$0Restructured Loans and leases
$3,476Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$22,879Total interest income
$11,480Total interest expense
$11,399Net interest income
$4,540Provision for loan and lease losses
$1,790Total noninterest income
$0Fiduciary activities
$705Service charges on deposit accounts
$0Trading account gains & fees
$1,085Additional noninterest income
$12,833Total noninterest expense
$6,016Salaries and employee benefits
$2,005Premises and equipment expense
$4,812Additional noninterest expense
-$4,184Pre-tax net operating income
-$8,771Securities gains (losses)
-$4,856Applicable income taxes
-$8,099Income before extraordinary items
$0Extraordinary gains - net
-$8,099Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$3,789Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.10%Yield on earning assets
3.06%Cost of funding earning assets
3.04%Net interest margin
0.48%Noninterest income to earning assets
3.42%Noninterest expense to earning assets
-0.61%Net operating income to assets
-1.99%Return on assets (ROA)
-3.19%Pretax return on assets
-31.72%Return on equity (ROE)
-31.72%Retained earnings to average equity (YTD only)
1.14%Net charge-offs to loans
119.82%Credit loss provision to net charge-offs
0.09%Efficiency ratio
97,301Assets per employee
4.15%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.10%Loss allowance to noncurrent loans
58.38%Noncurrent assets plus other real estate owned to assets
2.79%Noncurrent loans to loans
1.89%Net loans and leases to deposits
131.00%Net loans and leases to core deposits
169.37%Equity capital to assets
5.59%Core capital (leverage) ratio
4.73%Tier 1 risk-based capital ratio
6.76%Total risk-based capital ratio
Memoranda
$8Average assets
$406,105Average earning assets
$25,530Average equity
$375,057Average loans
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