Butler Bank in Lowell, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 16, 2010

  • Butler Bank in Lowell, Massachusetts (MA)
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Butler Bank - Overview

  • General
  • FDIC Certificate #: 26619
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: People's United Bank (#27334)
    Federal Reserve ID: 156877
    Date Established: January 01, 1901
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 4 (Interstate: No)
    OTS Docket #: 6170
    FDIC's unique #: 35343
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: April 02, 1986
    Last Structure Change Effective Date: April 16, 2010
    Last Structure Change Process Date: April 19, 2010
    Last Data Update: April 19, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 10 George Street, Lowell, MA 1852
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Lowell, MA-NH (#4560)
    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: Cambridge-Newton-Framingham, MA (#15764)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $245.5 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, 2009)

  • Dollar figures in thousands
  • 58Total employees (full-time equivalent)
  • $268,027Total assets
  • $20,034Cash and due from depository institutions
  • $2,997Interest-bearing balances
  • $11,102Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $196,163Net loans & leases
  • $2,013Loan loss allowance
  • $0Trading account assets
  • $7,264Bank premises and fixed assets
  • $18,632Other real estate owned
  • $1Goodwill and other intangibles
  • $4,686Life insurance assets
  • $14,831All other assets
  • $268,027Total liabilities and capital
  • $262,244Total liabilities
  • $233,222Total deposits
  • $206,066Interest-bearing deposits
  • $233,222Deposits held in domestic offices
  • 95.44%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $28,222Other borrowed funds
  • $0Subordinated debt
  • $800All other liabilities
  • $5,783Total equity capital
  • $5,783Total bank equity capital
  • $5,783Perpetual preferred stock
  • $0Common stock
  • $100Surplus
  • $5,751Undivided profits
  • Memoranda
  • $-68Noncurrent loans and leases
  • $9,627Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $26,433Earning assets
  • $0Long-term assets (5+ years)
  • $872Average Assets, year-to-date
  • $210,262Average Assets, quarterly
  • $108,648Volatile liabilities
  • $294,910Insider loans
  • $270,637FHLB advances
  • $93,868Loans and leases held for sale
  • $1,721Unused loan commitments
  • $28,222Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $9,627Total unused commitments
  • $1,442Restructured Loans and leases
  • $2,013Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $12,781Total interest income
  • $7,721Total interest expense
  • $5,060Net interest income
  • $3,197Provision for loan and lease losses
  • -$1,056Total noninterest income
  • $0Fiduciary activities
  • $181Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,237Additional noninterest income
  • $11,398Total noninterest expense
  • $3,798Salaries and employee benefits
  • $1,203Premises and equipment expense
  • $6,397Additional noninterest expense
  • -$10,591Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,349Applicable income taxes
  • -$9,242Income before extraordinary items
  • $0Extraordinary gains - net
  • -$9,242Net income attributable to bank
  • $0Net charge-offs
  • -$9,242Cash dividends
  • $5,377Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.05%Yield on earning assets
  • 3.05%Cost of funding earning assets
  • 2.00%Net interest margin
  • -0.42%Noninterest income to earning assets
  • 4.50%Noninterest expense to earning assets
  • -3.13%Net operating income to assets
  • -3.13%Return on assets (ROA)
  • -3.59%Pretax return on assets
  • -100.26%Return on equity (ROE)
  • -100.26%Retained earnings to average equity (YTD only)
  • 2.36%Net charge-offs to loans
  • 59.46%Credit loss provision to net charge-offs
  • -1.38%Efficiency ratio
  • 284,665Assets per employee
  • 4.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.02%Loss allowance to noncurrent loans
  • 7.62%Noncurrent assets plus other real estate owned to assets
  • 16.81%Noncurrent loans to loans
  • 13.34%Net loans and leases to deposits
  • 84.11%Net loans and leases to core deposits
  • 121.65%Equity capital to assets
  • 2.16%Core capital (leverage) ratio
  • 2.10%Tier 1 risk-based capital ratio
  • 2.80%Total risk-based capital ratio
  • Memoranda
  • $4Average assets
  • $294,910Average earning assets
  • $9,218Average equity
  • $253,187Average loans

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