Centerpoint Bank in Bedford, New Hampshire (NH)



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Centerpoint Bank
GeneralFDIC Certificate #: 32965
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: CFX Bank (#17991)
Federal Reserve ID: 1463330
Date Established: May 30, 1990
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 9112
FDIC's unique #: 46143
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: May 30, 1990
Last Structure Change Effective Date: August 29, 1997
Last Structure Change Process Date: September 15, 1997
Last Data Update: September 15, 1997
Data Source Date: April 05, 2012
LocationAddress: 141 South River Road, Bedford, NH 3110
County: Hillsborough
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): Manchester, NH (#4760)
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): Manchester-Nashua, NH (#31700)
CBSA Metro Statistical Area: Manchester-Nashua, NH (#31700)
Financial SummaryTotal assets: $129.5 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$32
Cash and due from depository institutions$113,514
Interest-bearing balances$8,153
Securities$83
Federal funds sold & reverse repurchase agreements$23,270
Net loans & leases$3,265
Loan loss allowance $76,633
Trading account assets$881
Bank premises and fixed assets$0
Other real estate owned$1,074
Goodwill and other intangibles$0
All other assets$0
Life insurance assets$1,119
Total liabilities and capital$0
Total liabilities$113,514
Total deposits$106,080
Interest-bearing deposits$88,709
Deposits held in domestic offices$60,472
% insured (estimated)88709.00%
Federal funds purchased & repurchase agreements $82
Trading liabilities$15,529
Other borrowed funds $0
Subordinated debt $893
All other liabilities $0
Total equity capital$949
Total bank equity capital$949
Perpetual preferred stock$7,434
Common stock$0
Surplus$80
Undivided profits $5,714
Memoranda
Noncurrent loans and leases $1,640
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $184
Earning assets $386
Long-term assets (5+ years) $103,251
Average Assets, year-to-date $8,420
Average Assets, quarterly $105,326
Volatile liabilities $115,896
Insider loans $22,376
FHLB advances $137
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $36,474
Tier 2 risk-based capital $0
Total risk weighted assets $7,537
Total unused commitments $81,220
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $8,463
Net interest income $2,803
Provision for loan and lease losses $5,660
Total noninterest income $300
Fiduciary activities $224
Service charges on deposit accounts $0
Trading account gains & fees $133
Additional noninterest income $0
Total noninterest expense $91
Salaries and employee benefits $3,553
Premises and equipment expense $1,663
Additional noninterest expense $530
Pre-tax net operating income $1,360
Securities gains (losses) $2,031
Applicable income taxes $0
Income before extraordinary items $755
Extraordinary gains - net $1,276
Net income attributable to bank $0
Net charge-offs $1,276
Cash dividends $79
Sale, conversion, retirement of capital stock, net $391
Net operating income $241
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 9.04%
Net interest margin 2.99%
Noninterest income to earning assets 6.05%
Noninterest expense to earning assets 0.24%
Net operating income to assets 3.80%
Return on assets (ROA) 1.21%
Pretax return on assets 1.21%
Return on equity (ROE) 1.93%
Retained earnings to average equity (YTD only) 19.19%
Net charge-offs to loans 13.31%
Credit loss provision to net charge-offs 0.12%
Efficiency ratio379.75%
Assets per employee$60,367
Cash dividends to net income (YTD only)3.55%
Condition Ratios (%)
Loss allowance to loans 30.64%
Loss allowance to noncurrent loans 1.14%
Noncurrent assets plus other real estate owned to assets 478.80%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.24%
Net loans and leases to core deposits 86.39%
Equity capital to assets 93.61%
Core capital (leverage) ratio 6.55%
Tier 1 risk-based capital ratio 6.76%
Total risk-based capital ratio 9.28%
Memoranda
Average assets$10
Average earning assets$105,326
Average equity $6,648
Average loans $93,590
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