The Bank of Mystic in Mystic, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 1995

The Bank of Mystic in Mystic, Connecticut (CT)
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The Bank of Mystic - Overview

General
FDIC Certificate #: 26992
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Norwich Savings Society (#18249)
Federal Reserve ID: 260103
Date Established: June 19, 1987
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 9185
FDIC's unique #: 36421
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: June 19, 1987
Last Structure Change Effective Date: April 01, 1995
Last Structure Change Process Date: April 06, 1995
Last Data Update: April 06, 1995
Data Source Date: April 05, 2012
Location
Address: 12 Roosevelt Avenue, Mystic Packer Building, Mystic, CT 6355
County: New London
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
Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
Financial Summary
Total assets: $66.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$27Total assets
$70,561Cash and due from depository institutions
$1,195Interest-bearing balances
$198Securities
$18,036Federal funds sold & reverse repurchase agreements
$250Net loans & leases
$49,239Loan loss allowance
$1,360Trading account assets
$0Bank premises and fixed assets
$450Other real estate owned
$332Goodwill and other intangibles
$1,059Life insurance assets
$0All other assets
$0Total liabilities and capital
$70,561Total liabilities
$65,400Total deposits
$59,090Interest-bearing deposits
$53,394Deposits held in domestic offices
59090.00%% insured (estimated)
$97Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$6,020Subordinated debt
$0All other liabilities
$290Total equity capital
$290Total bank equity capital
$5,161Perpetual preferred stock
$0Common stock
$5,125Surplus
$3,458Undivided profits
Memoranda
$-3,422Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,027Income earned, not collected on loans
$296Earning assets
$67,723Long-term assets (5+ years)
$1,928Average Assets, year-to-date
$68,525Average Assets, quarterly
$68,605Volatile liabilities
$10,878Insider loans
$1,629FHLB advances
$0Loans and leases held for sale
$603Unused loan commitments
$5,163Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$5,306Total risk weighted assets
$45,972Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$4,922Total interest expense
$2,155Net interest income
$2,767Provision for loan and lease losses
$109Total noninterest income
$990Fiduciary activities
$0Service charges on deposit accounts
$99Trading account gains & fees
$0Additional noninterest income
$891Total noninterest expense
$3,593Salaries and employee benefits
$1,566Premises and equipment expense
$455Additional noninterest expense
$1,572Pre-tax net operating income
$55Securities gains (losses)
$0Applicable income taxes
$10Income before extraordinary items
$45Extraordinary gains - net
$466Net income attributable to bank
$511Net charge-offs
$253Cash dividends
$0Sale, conversion, retirement of capital stock, net
$30Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.61%Cost of funding earning assets
3.33%Net interest margin
4.28%Noninterest income to earning assets
1.53%Noninterest expense to earning assets
5.56%Net operating income to assets
0.07%Return on assets (ROA)
0.75%Pretax return on assets
0.76%Return on equity (ROE)
10.22%Retained earnings to average equity (YTD only)
10.22%Net charge-offs to loans
0.49%Credit loss provision to net charge-offs
43.08%Efficiency ratio
95,635Assets per employee
2.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.69%Loss allowance to noncurrent loans
132.42%Noncurrent assets plus other real estate owned to assets
1.93%Noncurrent loans to loans
2.03%Net loans and leases to deposits
83.33%Net loans and leases to core deposits
90.83%Equity capital to assets
7.31%Core capital (leverage) ratio
7.82%Tier 1 risk-based capital ratio
11.54%Total risk-based capital ratio
Memoranda
$13Average assets
$68,525Average earning assets
$5,001Average equity
$64,642Average loans

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