West Newton Savings Bank in West Newton, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1994

  • West Newton Savings Bank in West Newton, Massachusetts (MA)
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West Newton Savings Bank - Overview

  • General
  • FDIC Certificate #: 90302
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Fleet National Bank of Massachusetts (#19429)
    Federal Reserve ID: 620202
    Date Established: January 01, 1887
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 8397
    FDIC's unique #: 17891
    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: November 06, 1985
    Last Structure Change Effective Date: September 30, 1994
    Last Structure Change Process Date: October 13, 1994
    Last Data Update: October 13, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 1314 Washington Street, West Newton, MA 2165
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Cambridge-Newton-Framingham, MA (#15764)
  • History of Changes
  • Merger - Without Assistance
    Participated in Reorganization
    Corrections
  • Financial Summary
  • Total assets: $254.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $56Total assets
  • $257,284Cash and due from depository institutions
  • $6,200Interest-bearing balances
  • $0Securities
  • $92,379Federal funds sold & reverse repurchase agreements
  • $6,075Net loans & leases
  • $146,245Loan loss allowance
  • $3,915Trading account assets
  • $0Bank premises and fixed assets
  • $902Other real estate owned
  • $618Goodwill and other intangibles
  • $4,865Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $257,284Total liabilities
  • $233,120Total deposits
  • $229,994Interest-bearing deposits
  • $225,886Deposits held in domestic offices
  • 229994.00%% insured (estimated)
  • $98Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $364Subordinated debt
  • $0All other liabilities
  • $2,762Total equity capital
  • $2,762Total bank equity capital
  • $24,164Perpetual preferred stock
  • $0Common stock
  • $172Surplus
  • $11,734Undivided profits
  • Memoranda
  • $12,258Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,688Income earned, not collected on loans
  • $637Earning assets
  • $244,699Long-term assets (5+ years)
  • $25,505Average Assets, year-to-date
  • $252,632Average Assets, quarterly
  • $255,314Volatile liabilities
  • $19,636Insider loans
  • $307FHLB advances
  • $0Loans and leases held for sale
  • $97Unused loan commitments
  • $19,816Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $24,164Total risk weighted assets
  • $105,806Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $16,038Total interest expense
  • $7,313Net interest income
  • $8,725Provision for loan and lease losses
  • $380Total noninterest income
  • $409Fiduciary activities
  • $0Service charges on deposit accounts
  • $231Trading account gains & fees
  • $0Additional noninterest income
  • $178Total noninterest expense
  • $5,502Salaries and employee benefits
  • $3,134Premises and equipment expense
  • $597Additional noninterest expense
  • $1,771Pre-tax net operating income
  • $3,252Securities gains (losses)
  • $0Applicable income taxes
  • $1,334Income before extraordinary items
  • $1,918Extraordinary gains - net
  • $762Net income attributable to bank
  • $2,680Net charge-offs
  • $218Cash dividends
  • $548Sale, conversion, retirement of capital stock, net
  • $14Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.66%Cost of funding earning assets
  • 3.04%Net interest margin
  • 3.63%Noninterest income to earning assets
  • 0.17%Noninterest expense to earning assets
  • 2.29%Net operating income to assets
  • 0.76%Return on assets (ROA)
  • 1.06%Pretax return on assets
  • 1.59%Return on equity (ROE)
  • 11.49%Retained earnings to average equity (YTD only)
  • 9.14%Net charge-offs to loans
  • 0.15%Credit loss provision to net charge-offs
  • 174.31%Efficiency ratio
  • 60,236Assets per employee
  • 4.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 20.45%Loss allowance to loans
  • 2.61%Loss allowance to noncurrent loans
  • 68.83%Noncurrent assets plus other real estate owned to assets
  • 2.45%Noncurrent loans to loans
  • 3.79%Net loans and leases to deposits
  • 63.59%Net loans and leases to core deposits
  • 69.40%Equity capital to assets
  • 9.39%Core capital (leverage) ratio
  • 9.42%Tier 1 risk-based capital ratio
  • 22.84%Total risk-based capital ratio
  • Memoranda
  • $24Average assets
  • $252,632Average earning assets
  • $23,331Average equity
  • $240,635Average loans

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