FDIC Certificate #: 2489 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Salisbury Bank and Trust Company (#18467) Federal Reserve ID: 767004 Date Established: Febuary 14, 1907 WWW:http://www.canaanbank.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Interstate: No) OTS Docket #: 11170 FDIC's unique #: 1636 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: September 10, 2004 Last Structure Change Process Date: October 05, 2004 Last Data Update: October 05, 2004 Data Source Date: April 05, 2012
Location
Address: 100 Main Street, Canaan, CT 6018 County: Litchfield 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 Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408) Core Based Statistical Area (CBSA): Torrington, CT (#45860) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $105.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
32Total employees (full-time equivalent)
$107,034Total assets
$1,817Cash and due from depository institutions
$1Interest-bearing balances
$44,878Securities
$0Federal funds sold & reverse repurchase agreements
$56,508Net loans & leases
$698Loan loss allowance
$0Trading account assets
$1,144Bank premises and fixed assets
$0Other real estate owned
$304Goodwill and other intangibles
$0Life insurance assets
$2,383All other assets
$107,034Total liabilities and capital
$98,845Total liabilities
$75,161Total deposits
$60,740Interest-bearing deposits
$75,161Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$23,417Other borrowed funds
$0Subordinated debt
$267All other liabilities
$8,189Total equity capital
$8,189Total bank equity capital
$8,189Perpetual preferred stock
$0Common stock
$260Surplus
$1,616Undivided profits
Memoranda
$6,313Noncurrent loans and leases
$14,312Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$586Earning assets
$0Long-term assets (5+ years)
$572Average Assets, year-to-date
$101,387Average Assets, quarterly
$44,729Volatile liabilities
$105,490Insider loans
$107,276FHLB advances
$13,079Loans and leases held for sale
$3,294Unused loan commitments
$23,319Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$14,312Total unused commitments
$262Restructured Loans and leases
$698Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$5,429Total interest income
$2,201Total interest expense
$3,228Net interest income
$36Provision for loan and lease losses
$1,130Total noninterest income
$0Fiduciary activities
$306Service charges on deposit accounts
$0Trading account gains & fees
$824Additional noninterest income
$3,256Total noninterest expense
$1,668Salaries and employee benefits
$465Premises and equipment expense
$1,123Additional noninterest expense
$1,066Pre-tax net operating income
$0Securities gains (losses)
$325Applicable income taxes
$741Income before extraordinary items
$0Extraordinary gains - net
$741Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$18Sale, conversion, retirement of capital stock, net
$100Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.45%Yield on earning assets
2.21%Cost of funding earning assets
3.24%Net interest margin
1.13%Noninterest income to earning assets
3.27%Noninterest expense to earning assets
0.70%Net operating income to assets
0.70%Return on assets (ROA)
1.01%Pretax return on assets
8.98%Return on equity (ROE)
7.76%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
200.00%Credit loss provision to net charge-offs
61.22%Efficiency ratio
74,713Assets per employee
3.34%Cash dividends to net income (YTD only)
Condition Ratios (%)
13.50%Loss allowance to loans
1.22%Loss allowance to noncurrent loans
119.11%Noncurrent assets plus other real estate owned to assets
0.55%Noncurrent loans to loans
1.02%Net loans and leases to deposits
75.18%Net loans and leases to core deposits
84.20%Equity capital to assets
7.65%Core capital (leverage) ratio
7.38%Tier 1 risk-based capital ratio
11.80%Total risk-based capital ratio
Memoranda
$13Average assets
$105,490Average earning assets
$8,256Average equity
$99,564Average loans
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