Admirals Bank in Cranston, Rhode Island (RI), MA
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Admirals Bank in Cranston, Rhode Island (RI), MA
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Admirals Bank - Overview

  • General
  • FDIC Certificate #: 27015
    Status: Active
    Federal Reserve ID: 541307
    Date Established: January 01, 1967
    WWW: http://www.admiralsbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 12 (Domestic: 12, Interstate: Yes)
    OTS Docket #: 13964
    FDIC's unique #: 36457
    Numeric code: 33
    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: Commercial Lending Specialization
    Date of Deposit Insurance: July 20, 1987
    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: 815 Reservoir Avenue, Cranston, RI 2910
    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: $518.7 mil
    Equity capital: $50.8 mil
    Deposits held in domestic offices: $462.0 mil
    Return on assets (ROA): 0.67% ($3.5 mil)
    Quarterly return on assets: 1.10% ($5.7 mil)
    Return on Equity (ROE): 5.48% ($2.8 mil)
    Quarterly return on equity: 10.05% ($5.1 mil)
    Net income: $2.7 mil
    Quarterly Net income: $1.3 mil
    Pretax return on assets: 1.16% ($6,016.7 mil)
    Quarterly Pretax return on assets: 2.25% ($11,670.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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
  • 226Total employees (full-time equivalent)
  • $518,680Total assets
  • $64,710Cash and due from depository institutions
  • $51,489Interest-bearing balances
  • $1,565Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $414,923Net loans & leases
  • $1,948Loan loss allowance
  • $0Trading account assets
  • $10,989Bank premises and fixed assets
  • $619Other real estate owned
  • $2,247Goodwill and other intangibles
  • $518,680Life insurance assets
  • $23,627All other assets
  • $467,841Total liabilities and capital
  • $462,040Total liabilities
  • $435,341Total deposits
  • $462,040Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $5,801Subordinated debt
  • $50,839All other liabilities
  • $50,839Total equity capital
  • $50,839Total bank equity capital
  • $0Perpetual preferred stock
  • $250Common stock
  • $37,896Surplus
  • $12,693Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,688Income earned, not collected on loans
  • $0Earning assets
  • $1,980Long-term assets (5+ years)
  • $467,977Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $400,461Volatile liabilities
  • $457,757Insider loans
  • $436,184FHLB advances
  • $517,143Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $49,302Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $64,859Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $29,968Total interest income
  • $3,648Total interest expense
  • $26,320Net interest income
  • $2,503Provision for loan and lease losses
  • $8,950Total noninterest income
  • $0Fiduciary activities
  • $2,072Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6,878Additional noninterest income
  • $28,540Total noninterest expense
  • $15,761Salaries and employee benefits
  • $4,548Premises and equipment expense
  • $8,231Additional noninterest expense
  • $4,227Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,979Applicable income taxes
  • $2,248Income before extraordinary items
  • $437Extraordinary gains - net
  • $2,685Net income attributable to bank
  • $0Net charge-offs
  • $2,685Cash dividends
  • $1,333Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.21%Yield on earning assets
  • 1.00%Cost of funding earning assets
  • 7.21%Net interest margin
  • 2.45%Noninterest income to earning assets
  • 7.82%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.67%Return on assets (ROA)
  • 1.16%Pretax return on assets
  • 5.48%Return on equity (ROE)
  • 5.48%Retained earnings to average equity (YTD only)
  • 0.43%Net charge-offs to loans
  • 187.77%Credit loss provision to net charge-offs
  • 5.05%Efficiency ratio
  • 79,853Assets per employee
  • 2.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.47%Loss allowance to noncurrent loans
  • 15.35%Noncurrent assets plus other real estate owned to assets
  • 2.57%Noncurrent loans to loans
  • 3.04%Net loans and leases to deposits
  • 89.80%Net loans and leases to core deposits
  • 112.15%Equity capital to assets
  • 9.80%Core capital (leverage) ratio
  • 9.53%Tier 1 risk-based capital ratio
  • 11.30%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $400,461Average earning assets
  • $49,022Average equity
  • $364,902Average loans

List of branches

  • 6 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    4463781Paramount Drive Branch36 Paramount Drive, Raynham, MA 2767March 22, 2004Full Service Retail
    8496095Northbridge Branch100 Valley Parkway, Whitinsville, MA 1588March 14, 2007Full Service Retail
    9428721Rockdale Avenue Branch37 Rockdale Avenue, New Bedford, MA 2740March 02, 2004Full Service Brick and Mortar
    10428806Pleasant Street-Fall River North Bra215 Pleasant Street, Fall River, MA 2721May 24, 2004Full Service Brick and Mortar
    11429723E. Street Branch40 East Street, Ludlow, MA 1056Febuary 17, 2004Full Service Brick and Mortar
    12447408Acushnet Avenue Branch1657-1667 Acushnet Avenue, New Bedford, MA 2746November 03, 2005Full Service Brick and Mortar
  • 6 Rhode Island Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    036457Admirals Bank815 Reservoir Avenue, Cranston, RI 2910January 01, 1967Full Service Brick and Mortar
    1463774Bald Hill Road Branch650 Bald Hill Road, Warwick, RI 2886January 23, 2002Full Service Retail
    3463780Diamond Hill Branch1500 Diamond Hill Road, Woonsocket, RI 2895September 03, 2003Full Service Retail
    5463783Ten Rod Road Branch1031 Ten Rod Rd, North Kingstown, RI 2852August 24, 2004Full Service Retail
    6496093Coventry Branch650 Centre Of New England Boulevard, Coventry, RI 2816January 16, 2007Full Service Retail
    7496094Providence Branch51 Silver Spring Street, Providence, RI 2904Febuary 23, 2007Full Service Retail

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