Bank of New England in Salem, New Hampshire (NH), MA
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank of New England - Overview

  • General
  • FDIC Certificate #: 24540
    Status: Active
    Federal Reserve ID: 113601
    Date Established: June 24, 1983
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: Yes)
    OTS Docket #: 15496
    FDIC's unique #: 17045
    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: June 24, 1983
    Last Structure Change Effective Date: April 02, 2007
    Last Structure Change Process Date: June 12, 2007
    Last Data Update: June 12, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 31 Pelham Road, Salem, NH 3079
    County: Rockingham
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Concord
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Lawrence, MA-NH (#4160)
    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): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Rockingham County-Strafford County, NH (#40484)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $470.7 mil
    Equity capital: $62.7 mil
    Deposits held in domestic offices: $405.4 mil
    Return on assets (ROA): 1.11% ($5.2 mil)
    Quarterly return on assets: 0.90% ($4.2 mil)
    Return on Equity (ROE): 8.75% ($5.5 mil)
    Quarterly return on equity: 7.04% ($4.4 mil)
    Net income: $5.3 mil
    Quarterly Net income: $1.1 mil
    Pretax return on assets: 1.88% ($8,849.9 mil)
    Quarterly Pretax return on assets: 1.53% ($7,202.3 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
  • 101Total employees (full-time equivalent)
  • $470,739Total assets
  • $50,897Cash and due from depository institutions
  • $2,212Interest-bearing balances
  • $960Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $403,496Net loans & leases
  • $5,135Loan loss allowance
  • $0Trading account assets
  • $264Bank premises and fixed assets
  • $7,195Other real estate owned
  • $0Goodwill and other intangibles
  • $470,739Life insurance assets
  • $7,927All other assets
  • $408,009Total liabilities and capital
  • $405,395Total liabilities
  • $355,506Total deposits
  • $405,395Interest-bearing deposits
  • $74Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $2,614Subordinated debt
  • $62,730All other liabilities
  • $62,730Total equity capital
  • $62,730Total bank equity capital
  • $10,000Perpetual preferred stock
  • $2,798Common stock
  • $5,143Surplus
  • $44,789Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,891Income earned, not collected on loans
  • $0Earning assets
  • $1,151Long-term assets (5+ years)
  • $406,668Average Assets, year-to-date
  • $35,070Average Assets, quarterly
  • $477,553Volatile liabilities
  • $484,979Insider loans
  • $436,058FHLB advances
  • $495,366Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $62,730Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $89,421Restructured Loans and leases
  • $1,066Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $25,297Total interest income
  • $4,715Total interest expense
  • $20,582Net interest income
  • -$214Provision for loan and lease losses
  • $695Total noninterest income
  • $0Fiduciary activities
  • $169Service charges on deposit accounts
  • $0Trading account gains & fees
  • $526Additional noninterest income
  • $12,529Total noninterest expense
  • $6,909Salaries and employee benefits
  • $2,164Premises and equipment expense
  • $3,456Additional noninterest expense
  • $8,962Pre-tax net operating income
  • $0Securities gains (losses)
  • $3,675Applicable income taxes
  • $5,287Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,287Net income attributable to bank
  • $0Net charge-offs
  • $5,287Cash dividends
  • $218Sale, conversion, retirement of capital stock, net
  • $525Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.73%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 4.66%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 2.84%Noninterest expense to earning assets
  • 1.11%Net operating income to assets
  • 1.11%Return on assets (ROA)
  • 1.88%Pretax return on assets
  • 8.75%Return on equity (ROE)
  • 7.88%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • -98.17%Credit loss provision to net charge-offs
  • 40.13%Efficiency ratio
  • 58,885Assets per employee
  • 4.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 9.93%Loss allowance to loans
  • 1.26%Loss allowance to noncurrent loans
  • 65.07%Noncurrent assets plus other real estate owned to assets
  • 3.20%Noncurrent loans to loans
  • 1.93%Net loans and leases to deposits
  • 99.53%Net loans and leases to core deposits
  • 104.04%Equity capital to assets
  • 13.33%Core capital (leverage) ratio
  • 12.66%Tier 1 risk-based capital ratio
  • 14.39%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $477,553Average earning assets
  • $60,456Average equity
  • $441,473Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    7360468Andover Branch12 Haverhill Street, Andover, MA 1810June 25, 2001Full Service Brick and Mortar
    8469585Methuen Branch3 Cross Street, Methuen, MA 1844November 08, 2007Full Service Brick and Mortar
    9469586Haverhill Branch37 Emerson Street, Haverhill, MA 1830November 15, 2007Full Service Brick and Mortar
  • 6 New Hampshire Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017045Bank Of New England31 Pelham Road, Salem, NH 3079June 24, 1983Full Service Brick and Mortar
    1257487Windham Office58 Range Road, Windham, NH 3079September 15, 1995Full Service Brick and Mortar
    2257488Bedford Branch177 South River Road, Bedford, NH 3110July 20, 1998Full Service Brick and Mortar
    3257489Nashua Branch295 Main Street, Nashua, NH 3060May 03, 1999Full Service Brick and Mortar
    557023Manchester Branch1589 Elm Street, Suite 102, Manchester, NH 3101April 07, 1997Full Service Brick and Mortar
    6360339Londonderry Br.1a Acton Boulevard, Londonderry, NH 3053June 12, 2001Full Service Brick and Mortar

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