Summit Bank in Norwalk, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 2001

  • Summit Bank in Norwalk, Connecticut (CT)
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Summit Bank - Overview

  • General
  • FDIC Certificate #: 17944
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 695901
    Date Established: May 07, 1849
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 24 (Interstate: No)
    OTS Docket #: 7742
    FDIC's unique #: 11878
    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: January 02, 1959
    Last Structure Change Effective Date: March 01, 2001
    Last Structure Change Process Date: April 18, 2001
    Last Data Update: April 18, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 48 Wall Street, Norwalk, CT 6852
    County: Fairfield
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Stamford-Norwalk, CT (#8040)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): Bridgeport-Stamford-Norwalk, CT (#14860)
    CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
  • Financial Summary
  • Total assets: $1,297.3 mil

1992 - 1999 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, 2000)

  • Dollar figures in thousands
  • 230Total employees (full-time equivalent)
  • $1,297,255Total assets
  • $33,351Cash and due from depository institutions
  • $0Interest-bearing balances
  • $305,776Securities
  • $42,500Federal funds sold & reverse repurchase agreements
  • $731,190Net loans & leases
  • $12,954Loan loss allowance
  • $0Trading account assets
  • $11,686Bank premises and fixed assets
  • $158Other real estate owned
  • $154,825Goodwill and other intangibles
  • $0Life insurance assets
  • $17,769All other assets
  • $1,297,255Total liabilities and capital
  • $1,034,120Total liabilities
  • $971,370Total deposits
  • $858,218Interest-bearing deposits
  • $971,370Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $11,278Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $36,611Other borrowed funds
  • $0Subordinated debt
  • $14,861All other liabilities
  • $263,135Total equity capital
  • $263,135Total bank equity capital
  • $263,135Perpetual preferred stock
  • $0Common stock
  • $14,884Surplus
  • $186,518Undivided profits
  • Memoranda
  • $61,733Noncurrent loans and leases
  • $110,511Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,690Earning assets
  • $0Long-term assets (5+ years)
  • $4,484Average Assets, year-to-date
  • $1,079,466Average Assets, quarterly
  • $386,962Volatile liabilities
  • $1,150,414Insider loans
  • $1,305,984FHLB advances
  • $132,254Loans and leases held for sale
  • $953Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $3,822Tier 2 risk-based capital
  • $7,231Total risk weighted assets
  • $110,511Total unused commitments
  • $0Restructured Loans and leases
  • $8,383Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $76,626Total interest income
  • $37,823Total interest expense
  • $38,803Net interest income
  • $1,200Provision for loan and lease losses
  • $4,377Total noninterest income
  • $263Fiduciary activities
  • $2,128Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,986Additional noninterest income
  • $31,640Total noninterest expense
  • $10,201Salaries and employee benefits
  • $4,869Premises and equipment expense
  • $16,570Additional noninterest expense
  • $10,340Pre-tax net operating income
  • $1,015Securities gains (losses)
  • $5,673Applicable income taxes
  • $5,682Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,682Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$280Sale, conversion, retirement of capital stock, net
  • $5,827Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.17%Yield on earning assets
  • 4.03%Cost of funding earning assets
  • 4.14%Net interest margin
  • 0.47%Noninterest income to earning assets
  • 3.37%Noninterest expense to earning assets
  • 0.44%Net operating income to assets
  • 0.49%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 2.44%Return on equity (ROE)
  • -0.06%Retained earnings to average equity (YTD only)
  • -0.04%Net charge-offs to loans
  • -428.57%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 54,683Assets per employee
  • 5.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 102.55%Loss allowance to loans
  • 1.74%Loss allowance to noncurrent loans
  • 276.20%Noncurrent assets plus other real estate owned to assets
  • 0.37%Noncurrent loans to loans
  • 0.63%Net loans and leases to deposits
  • 75.27%Net loans and leases to core deposits
  • 82.76%Equity capital to assets
  • 20.28%Core capital (leverage) ratio
  • 9.52%Tier 1 risk-based capital ratio
  • 16.32%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $1,150,414Average earning assets
  • $233,321Average equity
  • $937,879Average loans

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