Bank of Westport in Westport, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 21, 2004

  • Bank of Westport in Westport, Connecticut (CT)
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Bank of Westport - Overview

  • General
  • FDIC Certificate #: 34859
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fairfield County Bank (#18213)
    Federal Reserve ID: 2735182
    Date Established: October 01, 1998
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Interstate: No)
    FDIC's unique #: 61822
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: October 01, 1998
    Last Structure Change Effective Date: June 21, 2004
    Last Structure Change Process Date: July 19, 2004
    Last Data Update: July 19, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 180 Post Road East, Westport, CT 6880
    County: Fairfield
    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): Stamford-Norwalk, CT (#8040)
    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): Bridgeport-Stamford-Norwalk, CT (#14860)
    CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
  • Financial Summary
  • Total assets: $81.8 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, 2003)

  • Dollar figures in thousands
  • 21Total employees (full-time equivalent)
  • $71,856Total assets
  • $3,607Cash and due from depository institutions
  • $121Interest-bearing balances
  • $15,160Securities
  • $1,000Federal funds sold & reverse repurchase agreements
  • $50,710Net loans & leases
  • $531Loan loss allowance
  • $0Trading account assets
  • $245Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,134All other assets
  • $71,856Total liabilities and capital
  • $65,355Total liabilities
  • $64,289Total deposits
  • $48,171Interest-bearing deposits
  • $64,289Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,000Other borrowed funds
  • $0Subordinated debt
  • $66All other liabilities
  • $6,501Total equity capital
  • $6,501Total bank equity capital
  • $6,501Perpetual preferred stock
  • $0Common stock
  • $918Surplus
  • $7,286Undivided profits
  • Memoranda
  • $-1,703Noncurrent loans and leases
  • $7,952Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $41Earning assets
  • $0Long-term assets (5+ years)
  • $354Average Assets, year-to-date
  • $66,991Average Assets, quarterly
  • $23,819Volatile liabilities
  • $65,816Insider loans
  • $69,528FHLB advances
  • $8,445Loans and leases held for sale
  • $0Unused loan commitments
  • $1,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $7,952Total unused commitments
  • $0Restructured Loans and leases
  • $531Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $3,143Total interest income
  • $648Total interest expense
  • $2,495Net interest income
  • $181Provision for loan and lease losses
  • $177Total noninterest income
  • $0Fiduciary activities
  • $124Service charges on deposit accounts
  • $0Trading account gains & fees
  • $53Additional noninterest income
  • $2,426Total noninterest expense
  • $1,206Salaries and employee benefits
  • $379Premises and equipment expense
  • $841Additional noninterest expense
  • $65Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $65Income before extraordinary items
  • $0Extraordinary gains - net
  • $65Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $68Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.24%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 4.16%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 4.04%Noninterest expense to earning assets
  • 0.10%Net operating income to assets
  • 0.10%Return on assets (ROA)
  • 0.10%Pretax return on assets
  • 0.99%Return on equity (ROE)
  • 0.99%Retained earnings to average equity (YTD only)
  • 0.15%Net charge-offs to loans
  • 266.18%Credit loss provision to net charge-offs
  • 3.62%Efficiency ratio
  • 90,793Assets per employee
  • 3.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.04%Loss allowance to noncurrent loans
  • 1295.12%Noncurrent assets plus other real estate owned to assets
  • 0.06%Noncurrent loans to loans
  • 0.08%Net loans and leases to deposits
  • 78.88%Net loans and leases to core deposits
  • 90.81%Equity capital to assets
  • 9.05%Core capital (leverage) ratio
  • 9.36%Tier 1 risk-based capital ratio
  • 13.56%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $65,816Average earning assets
  • $6,562Average equity
  • $59,995Average loans

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