FDIC Certificate #: 18249 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:People's United Bank (#27334) Federal Reserve ID: 566908 Date Established: January 01, 1824 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 17 (Interstate: No) OTS Docket #: 8192 FDIC's unique #: 12165 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: July 01, 1960 Last Structure Change Effective Date: Febuary 24, 1998 Last Structure Change Process Date: March 06, 1998 Last Data Update: March 06, 1998 Data Source Date: April 05, 2012
Location
Address: Main Street At Broadway, Norwich, CT 6360 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 Metropolitan Statistical Area (MSA): New London-Norwich, CT-RI (#5520) Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980) CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
Financial Summary
Total assets: $696.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
228Total employees (full-time equivalent)
$696,439Total assets
$24,189Cash and due from depository institutions
$5,535Interest-bearing balances
$178,111Securities
$0Federal funds sold & reverse repurchase agreements
$460,921Net loans & leases
$12,425Loan loss allowance
$0Trading account assets
$13,703Bank premises and fixed assets
$2,418Other real estate owned
$7,188Goodwill and other intangibles
$0Life insurance assets
$9,909All other assets
$696,439Total liabilities and capital
$615,094Total liabilities
$594,226Total deposits
$514,973Interest-bearing deposits
$594,226Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$15,581Other borrowed funds
$0Subordinated debt
$5,287All other liabilities
$81,345Total equity capital
$81,345Total bank equity capital
$81,345Perpetual preferred stock
$0Common stock
$5,754Surplus
$56,642Undivided profits
Memoranda
$18,949Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5,184Earning assets
$107Long-term assets (5+ years)
$2,854Average Assets, year-to-date
$644,567Average Assets, quarterly
$148,312Volatile liabilities
$698,606Insider loans
$698,758FHLB advances
$39,483Loans and leases held for sale
$833Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,170Total risk weighted assets
$61,744Total unused commitments
$0Restructured Loans and leases
$528,226Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$52,875Total interest income
$23,550Total interest expense
$29,325Net interest income
$1,400Provision for loan and lease losses
$4,160Total noninterest income
$0Fiduciary activities
$2,475Service charges on deposit accounts
$0Trading account gains & fees
$1,685Additional noninterest income
$19,528Total noninterest expense
$9,707Salaries and employee benefits
$3,356Premises and equipment expense
$6,465Additional noninterest expense
$12,557Pre-tax net operating income
$1,855Securities gains (losses)
$5,717Applicable income taxes
$8,695Income before extraordinary items
$0Extraordinary gains - net
$8,695Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$2,903Sale, conversion, retirement of capital stock, net
$2,500Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.19%Yield on earning assets
3.65%Cost of funding earning assets
4.54%Net interest margin
0.64%Noninterest income to earning assets
3.03%Noninterest expense to earning assets
1.07%Net operating income to assets
1.24%Return on assets (ROA)
2.06%Pretax return on assets
11.13%Return on equity (ROE)
7.93%Retained earnings to average equity (YTD only)
0.59%Net charge-offs to loans
48.23%Credit loss provision to net charge-offs
4.81%Efficiency ratio
54,723Assets per employee
3.05%Cash dividends to net income (YTD only)
Condition Ratios (%)
28.75%Loss allowance to loans
2.62%Loss allowance to noncurrent loans
239.68%Noncurrent assets plus other real estate owned to assets
1.02%Noncurrent loans to loans
1.10%Net loans and leases to deposits
77.57%Net loans and leases to core deposits
83.09%Equity capital to assets
11.68%Core capital (leverage) ratio
10.62%Tier 1 risk-based capital ratio
13.94%Total risk-based capital ratio
Memoranda
$15Average assets
$698,606Average earning assets
$78,146Average equity
$645,463Average loans
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