Bank of Akron in Akron, New York (NY)
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank of Akron - Overview

  • General
  • FDIC Certificate #: 13290
    Status: Active
    Federal Reserve ID: 452104
    Date Established: January 01, 1900
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    FDIC's unique #: 8404
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 46 Main Street, Akron, NY 14001
    County: Erie
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Syracuse
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Buffalo-Niagara Falls, NY (#1280)
    Combined Statistical Area (CSA): Buffalo-Niagara-Cattaraugus, NY (#160)
    Core Based Statistical Area (CBSA): Buffalo-Niagara Falls, NY (#15380)
    CBSA Metro Statistical Area: Buffalo-Niagara Falls, NY (#15380)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $223.4 mil
    Equity capital: $23.7 mil
    Deposits held in domestic offices: $188.8 mil
    Return on assets (ROA): 0.79% ($1.8 mil)
    Quarterly return on assets: 0.72% ($1.6 mil)
    Return on Equity (ROE): 7.43% ($1.8 mil)
    Quarterly return on equity: 6.75% ($1.6 mil)
    Net income: $1.7 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.17% ($2,613.9 mil)
    Quarterly Pretax return on assets: 1.10% ($2,457.5 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, 2011)

  • Dollar figures in thousands
  • 60Total employees (full-time equivalent)
  • $223,407Total assets
  • $6,304Cash and due from depository institutions
  • $4,342Interest-bearing balances
  • $55,441Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $148,273Net loans & leases
  • $2,958Loan loss allowance
  • $0Trading account assets
  • $4,580Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $223,407Life insurance assets
  • $8,809All other assets
  • $199,709Total liabilities and capital
  • $188,844Total liabilities
  • $149,030Total deposits
  • $188,844Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,600Trading liabilities
  • $0Other borrowed funds
  • $3,265Subordinated debt
  • $23,698All other liabilities
  • $23,698Total equity capital
  • $23,698Total bank equity capital
  • $0Perpetual preferred stock
  • $900Common stock
  • $3,000Surplus
  • $19,798Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,168Income earned, not collected on loans
  • $125Earning assets
  • $746Long-term assets (5+ years)
  • $208,056Average Assets, year-to-date
  • $73,569Average Assets, quarterly
  • $216,035Volatile liabilities
  • $221,930Insider loans
  • $164,435FHLB advances
  • $220,468Loans and leases held for sale
  • $6,390Unused loan commitments
  • $6,390Tier 1 (core) risk-based capital
  • $22,086Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $27,157Restructured Loans and leases
  • $2,986Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,446Total interest income
  • $1,141Total interest expense
  • $8,305Net interest income
  • $230Provision for loan and lease losses
  • $1,501Total noninterest income
  • $0Fiduciary activities
  • $945Service charges on deposit accounts
  • $0Trading account gains & fees
  • $556Additional noninterest income
  • $7,303Total noninterest expense
  • $3,840Salaries and employee benefits
  • $706Premises and equipment expense
  • $2,757Additional noninterest expense
  • $2,273Pre-tax net operating income
  • $262Securities gains (losses)
  • $833Applicable income taxes
  • $1,702Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,702Net income attributable to bank
  • $0Net charge-offs
  • $1,702Cash dividends
  • $49Sale, conversion, retirement of capital stock, net
  • $1,125Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.73%Yield on earning assets
  • 0.57%Cost of funding earning assets
  • 4.16%Net interest margin
  • 0.75%Noninterest income to earning assets
  • 3.65%Noninterest expense to earning assets
  • 0.71%Net operating income to assets
  • 0.79%Return on assets (ROA)
  • 1.17%Pretax return on assets
  • 7.43%Return on equity (ROE)
  • 2.52%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 469.39%Credit loss provision to net charge-offs
  • 51.08%Efficiency ratio
  • 74,475Assets per employee
  • 3.72%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 66.10%Loss allowance to loans
  • 1.96%Loss allowance to noncurrent loans
  • 253.25%Noncurrent assets plus other real estate owned to assets
  • 0.52%Noncurrent loans to loans
  • 0.77%Net loans and leases to deposits
  • 78.52%Net loans and leases to core deposits
  • 80.63%Equity capital to assets
  • 10.61%Core capital (leverage) ratio
  • 10.02%Tier 1 risk-based capital ratio
  • 13.43%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $216,035Average earning assets
  • $22,892Average equity
  • $199,815Average loans

List of branches

  • 5 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08404Bank Of Akron46 Main Street, Akron, NY 14001January 01, 1900Full Service Brick and Mortar
    1229422Clarence Branch9470 Clarence Center Road, Clarence, NY 14032July 06, 1993Full Service Brick and Mortar
    2229423Akron Branch77 Buell Street, Akron, NY 14001November 12, 1996Full Service Brick and Mortar
    33653669865 Main Road Branch9865 Main Road, Clarence, NY 14031January 08, 2002Full Service Brick and Mortar
    4468796Lancaster Office3619 Walden Avenue, Lancaster, NY 14086September 29, 2007Full Service Brick and Mortar

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