FDIC Certificate #: 21819 Status: Inactive Closing history: Corrections Acquiring institution:Webster Bank, National Association (#18221) Federal Reserve ID: 944908 Date Established: November 12, 1974 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Interstate: No) OTS Docket #: 14066 FDIC's unique #: 15115 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: November 12, 1974 Last Structure Change Effective Date: May 19, 1999 Last Structure Change Process Date: June 23, 1999 Last Data Update: June 23, 1999 Data Source Date: April 05, 2012
Location
Address: 25 Prospect Street, Ridgefield, CT 6877 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): Danbury, CT (#1930) 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)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $237.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
88Total employees (full-time equivalent)
$237,081Total assets
$13,092Cash and due from depository institutions
$1Interest-bearing balances
$47,563Securities
$18,150Federal funds sold & reverse repurchase agreements
$150,082Net loans & leases
$1,178Loan loss allowance
$0Trading account assets
$5,230Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,964All other assets
$237,081Total liabilities and capital
$219,676Total liabilities
$217,226Total deposits
$195,015Interest-bearing deposits
$217,226Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,450All other liabilities
$17,405Total equity capital
$17,405Total bank equity capital
$17,405Perpetual preferred stock
$0Common stock
$2,073Surplus
$4,821Undivided profits
Memoranda
$10,511Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,288Earning assets
$0Long-term assets (5+ years)
$1,031Average Assets, year-to-date
$215,796Average Assets, quarterly
$26,365Volatile liabilities
$230,437Insider loans
$233,590FHLB advances
$12,072Loans and leases held for sale
$5,132Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$1,873Total risk weighted assets
$39,062Total unused commitments
$0Restructured Loans and leases
$134,182Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$15,626Total interest income
$6,202Total interest expense
$9,424Net interest income
-$123Provision for loan and lease losses
$990Total noninterest income
$151Fiduciary activities
$350Service charges on deposit accounts
$0Trading account gains & fees
$489Additional noninterest income
$7,620Total noninterest expense
$3,896Salaries and employee benefits
$1,366Premises and equipment expense
$2,358Additional noninterest expense
$2,917Pre-tax net operating income
$83Securities gains (losses)
$939Applicable income taxes
$2,061Income before extraordinary items
$0Extraordinary gains - net
$2,061Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$8Sale, conversion, retirement of capital stock, net
$470Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.45%Yield on earning assets
2.96%Cost of funding earning assets
4.49%Net interest margin
0.47%Noninterest income to earning assets
3.63%Noninterest expense to earning assets
0.87%Net operating income to assets
0.89%Return on assets (ROA)
1.30%Pretax return on assets
12.42%Return on equity (ROE)
9.59%Retained earnings to average equity (YTD only)
0.01%Net charge-offs to loans
-1537.50%Credit loss provision to net charge-offs
349.25%Efficiency ratio
73,171Assets per employee
2.69%Cash dividends to net income (YTD only)
Condition Ratios (%)
22.80%Loss allowance to loans
0.78%Loss allowance to noncurrent loans
91.46%Noncurrent assets plus other real estate owned to assets
0.54%Noncurrent loans to loans
0.85%Net loans and leases to deposits
69.09%Net loans and leases to core deposits
73.16%Equity capital to assets
7.34%Core capital (leverage) ratio
7.53%Tier 1 risk-based capital ratio
12.94%Total risk-based capital ratio
Memoranda
$14Average assets
$230,437Average earning assets
$16,592Average equity
$209,732Average loans
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