FDIC Certificate #: 28696 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Westbank (#18532) Federal Reserve ID: 563073 Date Established: January 01, 1916 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 2168 FDIC's unique #: 41530 Numeric code: 35 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: December 26, 1957 Last Structure Change Effective Date: September 07, 2001 Last Structure Change Process Date: September 17, 2001 Last Data Update: September 17, 2001 Data Source Date: April 05, 2012
Location
Address: 203 Main Street, Danielson, CT 6239 County: Windham 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 Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278) Core Based Statistical Area (CBSA): Willimantic, CT (#48740) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $160.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
30Total employees (full-time equivalent)
$161,390Total assets
$3,598Cash and due from depository institutions
$123Interest-bearing balances
$27,616Securities
$44Federal funds sold & reverse repurchase agreements
$114,924Net loans & leases
$1,162Loan loss allowance
$0Trading account assets
$2,628Bank premises and fixed assets
$427Other real estate owned
$9,551Goodwill and other intangibles
$0Life insurance assets
$2,602All other assets
$161,390Total liabilities and capital
$142,055Total liabilities
$140,076Total deposits
$132,416Interest-bearing deposits
$140,076Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$438Other borrowed funds
$0Subordinated debt
$1,541All other liabilities
$19,335Total equity capital
$19,335Total bank equity capital
$19,335Perpetual preferred stock
$0Common stock
$256Surplus
$16,644Undivided profits
Memoranda
$2,435Noncurrent loans and leases
$4,234Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,265Earning assets
$0Long-term assets (5+ years)
$760Average Assets, year-to-date
$142,707Average Assets, quarterly
$0Volatile liabilities
$164,778Insider loans
$163,285FHLB advances
$20,376Loans and leases held for sale
$151Unused loan commitments
$230Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,234Total unused commitments
$427Restructured Loans and leases
$1,050Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$11,542Total interest income
$5,975Total interest expense
$5,567Net interest income
-$193Provision for loan and lease losses
$334Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$334Additional noninterest income
$4,582Total noninterest expense
$1,487Salaries and employee benefits
$1,019Premises and equipment expense
$2,076Additional noninterest expense
$1,512Pre-tax net operating income
$0Securities gains (losses)
$573Applicable income taxes
$939Income before extraordinary items
$0Extraordinary gains - net
$939Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$178Sale, conversion, retirement of capital stock, net
$543Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.91%Yield on earning assets
4.09%Cost of funding earning assets
3.81%Net interest margin
0.23%Noninterest income to earning assets
3.14%Noninterest expense to earning assets
0.57%Net operating income to assets
0.57%Return on assets (ROA)
0.92%Pretax return on assets
4.94%Return on equity (ROE)
2.09%Retained earnings to average equity (YTD only)
0.15%Net charge-offs to loans
-108.43%Credit loss provision to net charge-offs
7.41%Efficiency ratio
66,074Assets per employee
5.38%Cash dividends to net income (YTD only)
Condition Ratios (%)
57.83%Loss allowance to loans
1.00%Loss allowance to noncurrent loans
91.86%Noncurrent assets plus other real estate owned to assets
1.05%Noncurrent loans to loans
1.09%Net loans and leases to deposits
82.04%Net loans and leases to core deposits
95.66%Equity capital to assets
11.98%Core capital (leverage) ratio
6.44%Tier 1 risk-based capital ratio
11.65%Total risk-based capital ratio
Memoranda
$13Average assets
$164,778Average earning assets
$18,991Average equity
$145,957Average loans
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