Worcester County Institution for Savings in Worcester, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 28, 1994

  • Worcester County Institution for Savings in Worcester, Massachusetts (MA)
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Worcester County Institution for Savings - Overview

  • General
  • FDIC Certificate #: 17660
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 655503
    Date Established: June 04, 1828
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 28 (Interstate: No)
    OTS Docket #: 7932
    FDIC's unique #: 11625
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: September 13, 1956
    Last Structure Change Effective Date: May 28, 1994
    Last Structure Change Process Date: July 20, 1994
    Last Data Update: July 20, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 365 Main Street, Worcester, MA 1608
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • Financial Summary
  • Total assets: $1,458.1 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)
  • $534Total assets
  • $1,456,081Cash and due from depository institutions
  • $180,901Interest-bearing balances
  • $135,053Securities
  • $197,036Federal funds sold & reverse repurchase agreements
  • $3,000Net loans & leases
  • $1,020,170Loan loss allowance
  • $16,072Trading account assets
  • $0Bank premises and fixed assets
  • $15,205Other real estate owned
  • $14,382Goodwill and other intangibles
  • $17,370Life insurance assets
  • $8,017All other assets
  • $0Total liabilities and capital
  • $1,456,081Total liabilities
  • $1,317,295Total deposits
  • $1,258,851Interest-bearing deposits
  • $1,188,602Deposits held in domestic offices
  • 1258851.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $41,106Trading liabilities
  • $0Other borrowed funds
  • $10,882Subordinated debt
  • $0All other liabilities
  • $6,456Total equity capital
  • $6,456Total bank equity capital
  • $138,786Perpetual preferred stock
  • $0Common stock
  • $816Surplus
  • $96,464Undivided profits
  • Memoranda
  • $41,506Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,823Income earned, not collected on loans
  • $8,003Earning assets
  • $1,355,259Long-term assets (5+ years)
  • $140,363Average Assets, year-to-date
  • $1,439,669Average Assets, quarterly
  • $1,455,809Volatile liabilities
  • $86,156Insider loans
  • $7,610FHLB advances
  • $0Loans and leases held for sale
  • $20,693Unused loan commitments
  • $174,375Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $130,769Total risk weighted assets
  • $928,053Total unused commitments
  • $0Restructured Loans and leases
  • $2,650Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $93,175Total interest expense
  • $35,931Net interest income
  • $57,244Provision for loan and lease losses
  • $6,750Total noninterest income
  • $10,265Fiduciary activities
  • $785Service charges on deposit accounts
  • $6,332Trading account gains & fees
  • $0Additional noninterest income
  • $3,148Total noninterest expense
  • $43,108Salaries and employee benefits
  • $21,365Premises and equipment expense
  • $4,954Additional noninterest expense
  • $16,789Pre-tax net operating income
  • $17,651Securities gains (losses)
  • $10Applicable income taxes
  • $7,844Income before extraordinary items
  • $9,817Extraordinary gains - net
  • $0Net income attributable to bank
  • $9,817Net charge-offs
  • $6,944Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $243Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.97%Cost of funding earning assets
  • 2.69%Net interest margin
  • 4.28%Noninterest income to earning assets
  • 0.77%Noninterest expense to earning assets
  • 3.22%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.68%Pretax return on assets
  • 1.23%Return on equity (ROE)
  • 7.34%Retained earnings to average equity (YTD only)
  • 7.34%Net charge-offs to loans
  • 0.68%Credit loss provision to net charge-offs
  • 97.21%Efficiency ratio
  • 62,654Assets per employee
  • 2.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.55%Loss allowance to noncurrent loans
  • 135.94%Noncurrent assets plus other real estate owned to assets
  • 1.53%Noncurrent loans to loans
  • 1.14%Net loans and leases to deposits
  • 81.04%Net loans and leases to core deposits
  • 83.30%Equity capital to assets
  • 9.53%Core capital (leverage) ratio
  • 9.10%Tier 1 risk-based capital ratio
  • 14.09%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,439,669Average earning assets
  • $133,782Average equity
  • $1,337,027Average loans

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