FDIC Certificate #: 57189 Status: Active Federal Reserve ID: 3048937 Date Established: November 12, 2001 WWW:http://www.unionfsb.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 17338 FDIC's unique #: 359358 Numeric code: 37 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion Date of Deposit Insurance: November 12, 2001 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 1565 Mineral Spring Avenue, North Providence, RI 2904 County: Providence Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: South Boston Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480) Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148) Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300) CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $125.5 mil Equity capital: $15.1 mil Deposits held in domestic offices: $109.5 mil Return on assets (ROA): -2.24% (-$2.8 mil) Quarterly return on assets: -1.02% (-$1.3 mil) Return on Equity (ROE): -14.56% (-$2.2 mil) Quarterly return on equity: -7.93% (-$1.2 mil) Net income: -$1.9 mil Quarterly Net income: -$0.3 mil Pretax return on assets: -2.24% (-$2,811.1 mil) Quarterly Pretax return on assets: -1.02% (-$1,280.1 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
10Total employees (full-time equivalent)
$125,497Total assets
$60,568Cash and due from depository institutions
$60,247Interest-bearing balances
$37,641Securities
$500Federal funds sold & reverse repurchase agreements
$24,775Net loans & leases
$356Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$5Goodwill and other intangibles
$125,497Life insurance assets
$2,008All other assets
$110,439Total liabilities and capital
$109,528Total liabilities
$69,257Total deposits
$109,528Interest-bearing deposits
$98Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$911Subordinated debt
$15,058All other liabilities
$15,058Total equity capital
$15,058Total bank equity capital
$0Perpetual preferred stock
$4,000Common stock
$107,689Surplus
$-96,631Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$469Income earned, not collected on loans
$0Earning assets
$258Long-term assets (5+ years)
$123,163Average Assets, year-to-date
$0Average Assets, quarterly
$84,221Volatile liabilities
$102,667Insider loans
$28,158FHLB advances
$125,134Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$14,684Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$11,105Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$995Total interest income
$580Total interest expense
$415Net interest income
$310Provision for loan and lease losses
$401Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$401Additional noninterest income
$2,395Total noninterest expense
$924Salaries and employee benefits
$458Premises and equipment expense
$1,013Additional noninterest expense
-$1,889Pre-tax net operating income
$0Securities gains (losses)
-$1Applicable income taxes
-$1,888Income before extraordinary items
$0Extraordinary gains - net
-$1,888Net income attributable to bank
$0Net charge-offs
-$1,888Cash dividends
$262Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
1.23%Yield on earning assets
0.71%Cost of funding earning assets
0.51%Net interest margin
0.49%Noninterest income to earning assets
2.95%Noninterest expense to earning assets
-2.24%Net operating income to assets
-2.24%Return on assets (ROA)
-2.24%Pretax return on assets
-14.56%Return on equity (ROE)
-14.56%Retained earnings to average equity (YTD only)
2.12%Net charge-offs to loans
118.32%Credit loss provision to net charge-offs
-6.03%Efficiency ratio
250,980Assets per employee
12.55%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.42%Loss allowance to noncurrent loans
75.91%Noncurrent assets plus other real estate owned to assets
0.37%Noncurrent loans to loans
1.87%Net loans and leases to deposits
22.62%Net loans and leases to core deposits
22.94%Equity capital to assets
12.00%Core capital (leverage) ratio
11.74%Tier 1 risk-based capital ratio
52.15%Total risk-based capital ratio
Memoranda
$53Average assets
$84,221Average earning assets
$12,971Average equity
$81,215Average loans
List of branches
1 Rhode Island Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
359358
Union Federal Savings Bank
1565 Mineral Spring Avenue, North Providence, RI 2904
November 12, 2001
Full Service Brick and Mortar
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