FDIC Certificate #: 26498 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:American Savings Bank (#18246) Federal Reserve ID: 985871 Date Established: January 01, 1920 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 17 (Interstate: No) OTS Docket #: 802 FDIC's unique #: 33166 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: December 30, 1985 Last Structure Change Effective Date: January 18, 2002 Last Structure Change Process Date: Febuary 05, 2002 Last Data Update: Febuary 05, 2002 Data Source Date: April 05, 2012
Location
Address: Two West Main Street, Waterbury, CT 6702 County: New Haven 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): Waterbury, CT (#8880) 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): New Haven-Milford, CT (#35300) CBSA Metro Statistical Area: New Haven-Milford, CT (#35300)
Financial Summary
Total assets: $925.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
149Total employees (full-time equivalent)
$925,454Total assets
$15,398Cash and due from depository institutions
$795Interest-bearing balances
$317,049Securities
$117,400Federal funds sold & reverse repurchase agreements
$415,755Net loans & leases
$8,396Loan loss allowance
$0Trading account assets
$4,494Bank premises and fixed assets
$173Other real estate owned
$12,538Goodwill and other intangibles
$0Life insurance assets
$42,647All other assets
$925,454Total liabilities and capital
$841,282Total liabilities
$731,527Total deposits
$724,449Interest-bearing deposits
$731,527Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$107,000Other borrowed funds
$0Subordinated debt
$2,755All other liabilities
$84,172Total equity capital
$84,172Total bank equity capital
$84,172Perpetual preferred stock
$0Common stock
$5,008Surplus
$12,385Undivided profits
Memoranda
$66,779Noncurrent loans and leases
$70,741Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,394Earning assets
$337Long-term assets (5+ years)
$4,100Average Assets, year-to-date
$850,999Average Assets, quarterly
$392,034Volatile liabilities
$926,076Insider loans
$927,362FHLB advances
$48,392Loans and leases held for sale
$9,371Unused loan commitments
$107,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$70,741Total unused commitments
$3,825Restructured Loans and leases
$6,229Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$58,937Total interest income
$34,178Total interest expense
$24,759Net interest income
$1,100Provision for loan and lease losses
$6,140Total noninterest income
$0Fiduciary activities
$1,049Service charges on deposit accounts
-$19Trading account gains & fees
$5,110Additional noninterest income
$17,692Total noninterest expense
$8,784Salaries and employee benefits
$2,587Premises and equipment expense
$6,321Additional noninterest expense
$12,107Pre-tax net operating income
-$837Securities gains (losses)
$3,170Applicable income taxes
$8,100Income before extraordinary items
$0Extraordinary gains - net
$8,100Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$64Sale, conversion, retirement of capital stock, net
$5,018Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.91%Yield on earning assets
4.00%Cost of funding earning assets
2.90%Net interest margin
0.72%Noninterest income to earning assets
2.07%Noninterest expense to earning assets
0.94%Net operating income to assets
0.87%Return on assets (ROA)
1.22%Pretax return on assets
10.26%Return on equity (ROE)
3.90%Retained earnings to average equity (YTD only)
0.02%Net charge-offs to loans
1718.75%Credit loss provision to net charge-offs
206.36%Efficiency ratio
51,212Assets per employee
6.21%Cash dividends to net income (YTD only)
Condition Ratios (%)
61.95%Loss allowance to loans
1.98%Loss allowance to noncurrent loans
602.30%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.33%Net loans and leases to deposits
56.83%Net loans and leases to core deposits
60.42%Equity capital to assets
9.10%Core capital (leverage) ratio
7.33%Tier 1 risk-based capital ratio
13.62%Total risk-based capital ratio
Memoranda
$15Average assets
$926,076Average earning assets
$78,966Average equity
$853,473Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with American Bank of Connecticut.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: