The Bank of Western Massachusetts in Springfield, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2009

  • The Bank of Western Massachusetts in Springfield, Massachusetts (MA)
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The Bank of Western Massachusetts - Overview

  • General
  • FDIC Certificate #: 26942
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: People's United Bank (#27334)
    Federal Reserve ID: 387000
    Date Established: April 01, 1987
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 18083
    FDIC's unique #: 36342
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: April 01, 1987
    Last Structure Change Effective Date: January 01, 2009
    Last Structure Change Process Date: Febuary 19, 2009
    Last Data Update: Febuary 19, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 1391 Main Street, 4th Floor, Springfield, MA 1101
    County: Hampden
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Springfield, MA (#8000)
    Core Based Statistical Area (CBSA): Springfield, MA (#44140)
    CBSA Metro Statistical Area: Springfield, MA (#44140)
  • Financial Summary
  • Total assets: $912.3 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
  • 144Total employees (full-time equivalent)
  • $912,289Total assets
  • $14,124Cash and due from depository institutions
  • $0Interest-bearing balances
  • $21,380Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $766,333Net loans & leases
  • $9,294Loan loss allowance
  • $0Trading account assets
  • $8,501Bank premises and fixed assets
  • $815Other real estate owned
  • $95,364Goodwill and other intangibles
  • $238Life insurance assets
  • $5,772All other assets
  • $912,289Total liabilities and capital
  • $744,519Total liabilities
  • $528,870Total deposits
  • $465,406Interest-bearing deposits
  • $528,870Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $201,915Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $13,734All other liabilities
  • $167,770Total equity capital
  • $167,770Total bank equity capital
  • $167,770Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $159,129Undivided profits
  • Memoranda
  • $8,641Noncurrent loans and leases
  • $179,079Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,817Earning assets
  • $1,224Long-term assets (5+ years)
  • $2,520Average Assets, year-to-date
  • $787,713Average Assets, quarterly
  • $0Volatile liabilities
  • $878,504Insider loans
  • $899,803FHLB advances
  • $290,707Loans and leases held for sale
  • $17,732Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $179,079Total unused commitments
  • $815Restructured Loans and leases
  • $8,692Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $45,678Total interest income
  • $13,771Total interest expense
  • $31,907Net interest income
  • $1,232Provision for loan and lease losses
  • $7,875Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $7,875Additional noninterest income
  • $26,028Total noninterest expense
  • $9,951Salaries and employee benefits
  • $2,605Premises and equipment expense
  • $13,472Additional noninterest expense
  • $12,522Pre-tax net operating income
  • $303Securities gains (losses)
  • $4,219Applicable income taxes
  • $8,606Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,606Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,136Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.97%Yield on earning assets
  • 1.80%Cost of funding earning assets
  • 4.17%Net interest margin
  • 1.03%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • 0.96%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 1.46%Pretax return on assets
  • 5.95%Return on equity (ROE)
  • 5.95%Retained earnings to average equity (YTD only)
  • 0.15%Net charge-offs to loans
  • 108.45%Credit loss provision to net charge-offs
  • 12.11%Efficiency ratio
  • 61,535Assets per employee
  • 6.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.20%Loss allowance to noncurrent loans
  • 243.49%Noncurrent assets plus other real estate owned to assets
  • 0.51%Noncurrent loans to loans
  • 0.49%Net loans and leases to deposits
  • 144.90%Net loans and leases to core deposits
  • 174.14%Equity capital to assets
  • 18.39%Core capital (leverage) ratio
  • 8.85%Tier 1 risk-based capital ratio
  • 10.42%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $878,504Average earning assets
  • $144,611Average equity
  • $764,853Average loans

Total Fiduciary and Related Assets (December 31, 2008)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $123,521Managed Assets
  • 1Number of Accounts
  • $121,562Personal trust and agency accounts
  • $45,841Employee benefit-defined contribution accounts
  • $398Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $14,128Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $61,195Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 351Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $1,959Other retirement accounts
  • $56Corporate trust and agency accounts
  • $1,886Other fiduciary accounts
  • $17Fiduciary accounts held in foreign offices

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