Bay State Savings Bank in Worcester, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Bay State Savings Bank in Worcester, Massachusetts (MA)
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Bay State Savings Bank - Overview

  • General
  • FDIC Certificate #: 90311
    Status: Active
    Federal Reserve ID: 963002
    Bank Holding Company (Regulatory Top Holder): 1895 Mhc (RSSDID: 3535437, Location: Worcester, MA)
    Date Established: March 09, 1895
    WWW: http://www.baystatesavingsbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 7995
    FDIC's unique #: 17900
    Numeric code: 42
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 20, 1985
    Last Structure Change Effective Date: August 01, 2011
    Last Structure Change Process Date: August 17, 2011
    Last Data Update: August 17, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 28 Franklin Street, Worcester, MA 1608
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240)
    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): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • Financial Summary
  • Total assets: $268.4 mil
    Equity capital: $27.8 mil
    Deposits held in domestic offices: $214.3 mil
    Return on assets (ROA): 0.37% ($1.0 mil)
    Quarterly return on assets: 0.44% ($1.2 mil)
    Return on Equity (ROE): 3.63% ($1.0 mil)
    Quarterly return on equity: 4.22% ($1.2 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.44% ($1,181.1 mil)
    Quarterly Pretax return on assets: 0.35% ($939.5 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
  • 77Total employees (full-time equivalent)
  • $268,439Total assets
  • $21,961Cash and due from depository institutions
  • $16,218Interest-bearing balances
  • $28,941Securities
  • $2,516Federal funds sold & reverse repurchase agreements
  • $197,585Net loans & leases
  • $2,636Loan loss allowance
  • $0Trading account assets
  • $4,825Bank premises and fixed assets
  • $210Other real estate owned
  • $0Goodwill and other intangibles
  • $268,439Life insurance assets
  • $12,401All other assets
  • $240,629Total liabilities and capital
  • $214,294Total liabilities
  • $178,555Total deposits
  • $214,294Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $23,784Trading liabilities
  • $0Other borrowed funds
  • $2,551Subordinated debt
  • $27,810All other liabilities
  • $27,810Total equity capital
  • $27,810Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $26,890Surplus
  • $920Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,338Income earned, not collected on loans
  • $172Earning assets
  • $821Long-term assets (5+ years)
  • $245,260Average Assets, year-to-date
  • $102,173Average Assets, quarterly
  • $269,716Volatile liabilities
  • $268,045Insider loans
  • $180,427FHLB advances
  • $266,986Loans and leases held for sale
  • $4,432Unused loan commitments
  • $4,022Tier 1 (core) risk-based capital
  • $26,890Tier 2 risk-based capital
  • $410Total risk weighted assets
  • $0Total unused commitments
  • $33,855Restructured Loans and leases
  • $2,855Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,321Total interest income
  • $2,365Total interest expense
  • $9,956Net interest income
  • $671Provision for loan and lease losses
  • $1,275Total noninterest income
  • $0Fiduciary activities
  • $624Service charges on deposit accounts
  • $0Trading account gains & fees
  • $651Additional noninterest income
  • $9,882Total noninterest expense
  • $5,451Salaries and employee benefits
  • $1,352Premises and equipment expense
  • $3,079Additional noninterest expense
  • $678Pre-tax net operating income
  • $507Securities gains (losses)
  • $191Applicable income taxes
  • $994Income before extraordinary items
  • $0Extraordinary gains - net
  • $994Net income attributable to bank
  • $0Net charge-offs
  • $994Cash dividends
  • $906Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.99%Yield on earning assets
  • 0.96%Cost of funding earning assets
  • 4.03%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 4.00%Noninterest expense to earning assets
  • 0.21%Net operating income to assets
  • 0.37%Return on assets (ROA)
  • 0.44%Pretax return on assets
  • 3.63%Return on equity (ROE)
  • 3.63%Retained earnings to average equity (YTD only)
  • 0.45%Net charge-offs to loans
  • 74.06%Credit loss provision to net charge-offs
  • 1.49%Efficiency ratio
  • 87,989Assets per employee
  • 3.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.32%Loss allowance to noncurrent loans
  • 35.92%Noncurrent assets plus other real estate owned to assets
  • 2.81%Noncurrent loans to loans
  • 3.66%Net loans and leases to deposits
  • 92.20%Net loans and leases to core deposits
  • 95.63%Equity capital to assets
  • 10.36%Core capital (leverage) ratio
  • 10.07%Tier 1 risk-based capital ratio
  • 14.90%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $269,716Average earning assets
  • $27,388Average equity
  • $247,147Average loans

List of branches

  • 8 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017900Bay State Savings Bank28 Franklin Street, Worcester, MA 1608March 09, 1895Full Service Brick and Mortar
    1291580Burncoat Street Branch374-378 Burncoat Street, Worcester, MA 1606April 30, 1973Full Service Brick and Mortar
    2291581Mill Street Branch275 Mill Street, Worcester, MA 1602June 23, 1978Full Service Brick and Mortar
    3291582Auburn High School Branch99 Auburn Street, Auburn, MA 1501September 18, 1989Full Service Brick and Mortar
    4291583Holden Branch628 Main Street, Holden, MA 1520January 21, 1997Full Service Brick and Mortar
    5291584Minuteman Plaza Branch123 Auburn Street, Auburn, MA 1501June 15, 1998Full Service Brick and Mortar
    7423057Grafton Street Branch799 Grafton Streeet, Worcester, MA 1608October 01, 2003Full Service Brick and Mortar
    8474302Eastern Avenue Branch2 Eastern Avenue, Worcester, MA 1608May 06, 2008Full Service Brick and Mortar

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