Chelsea Groton Bank in Norwich, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Chelsea Groton Bank in Norwich, Connecticut (CT)
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Chelsea Groton Bank - Overview

  • General
  • FDIC Certificate #: 18238
    Status: Active
    Federal Reserve ID: 345309
    Date Established: January 01, 1854
    WWW: http://www.chelseagroton.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 14 (Domestic: 14, Interstate: No)
    OTS Docket #: 8593
    FDIC's unique #: 12154
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: July 01, 1960
    Last Structure Change Effective Date: April 01, 2010
    Last Structure Change Process Date: June 21, 2010
    Last Data Update: June 21, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: One Franklin Square, Norwich, CT 6360
    County: New London
    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): New London-Norwich, CT-RI (#5520)
    Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
    CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $836.6 mil
    Equity capital: $120.6 mil
    Deposits held in domestic offices: $688.4 mil
    Return on assets (ROA): 0.38% ($3.2 mil)
    Quarterly return on assets: 0.26% ($2.2 mil)
    Return on Equity (ROE): 2.63% ($3.2 mil)
    Quarterly return on equity: 1.80% ($2.2 mil)
    Net income: $3.1 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.46% ($3,848.3 mil)
    Quarterly Pretax return on assets: 0.28% ($2,342.5 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
  • 193Total employees (full-time equivalent)
  • $836,596Total assets
  • $32,852Cash and due from depository institutions
  • $17,382Interest-bearing balances
  • $229,597Securities
  • $2,728Federal funds sold & reverse repurchase agreements
  • $507,061Net loans & leases
  • $8,075Loan loss allowance
  • $0Trading account assets
  • $16,748Bank premises and fixed assets
  • $1,857Other real estate owned
  • $965Goodwill and other intangibles
  • $836,596Life insurance assets
  • $44,788All other assets
  • $715,993Total liabilities and capital
  • $688,390Total liabilities
  • $582,185Total deposits
  • $688,390Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,709Trading liabilities
  • $0Other borrowed funds
  • $16,894Subordinated debt
  • $120,603All other liabilities
  • $120,603Total equity capital
  • $120,603Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $3,190Surplus
  • $117,413Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,109Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $13,629Income earned, not collected on loans
  • $0Earning assets
  • $2,518Long-term assets (5+ years)
  • $756,768Average Assets, year-to-date
  • $394,157Average Assets, quarterly
  • $826,254Volatile liabilities
  • $839,119Insider loans
  • $515,966FHLB advances
  • $832,776Loans and leases held for sale
  • $26,455Unused loan commitments
  • $26,455Tier 1 (core) risk-based capital
  • $120,569Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $52,434Restructured Loans and leases
  • $1,324Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $31,512Total interest income
  • $4,695Total interest expense
  • $26,817Net interest income
  • $2,963Provision for loan and lease losses
  • $5,699Total noninterest income
  • $0Fiduciary activities
  • $2,365Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,334Additional noninterest income
  • $26,976Total noninterest expense
  • $16,589Salaries and employee benefits
  • $2,814Premises and equipment expense
  • $7,573Additional noninterest expense
  • $2,577Pre-tax net operating income
  • $1,226Securities gains (losses)
  • $666Applicable income taxes
  • $3,137Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,137Net income attributable to bank
  • $0Net charge-offs
  • $3,137Cash dividends
  • $1,647Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.21%Yield on earning assets
  • 0.63%Cost of funding earning assets
  • 3.58%Net interest margin
  • 0.76%Noninterest income to earning assets
  • 3.61%Noninterest expense to earning assets
  • 0.26%Net operating income to assets
  • 0.38%Return on assets (ROA)
  • 0.46%Pretax return on assets
  • 2.63%Return on equity (ROE)
  • 2.63%Retained earnings to average equity (YTD only)
  • 0.32%Net charge-offs to loans
  • 179.90%Credit loss provision to net charge-offs
  • 3.36%Efficiency ratio
  • 82,962Assets per employee
  • 4.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.57%Loss allowance to noncurrent loans
  • 59.25%Noncurrent assets plus other real estate owned to assets
  • 1.85%Noncurrent loans to loans
  • 2.65%Net loans and leases to deposits
  • 73.66%Net loans and leases to core deposits
  • 78.25%Equity capital to assets
  • 14.42%Core capital (leverage) ratio
  • 14.48%Tier 1 risk-based capital ratio
  • 23.37%Total risk-based capital ratio
  • Memoranda
  • $25Average assets
  • $826,254Average earning assets
  • $119,467Average equity
  • $748,191Average loans

List of branches

  • 14 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012154Chelsea Groton BankOne Franklin Square, Norwich, CT 6360January 01, 1854Full Service Brick and Mortar
    1244408Groton Branch904 Poquonnock Road, Groton, CT 6340Febuary 20, 1956Full Service Brick and Mortar
    2244409Pawcatuck Branch116 West Broad Street, Pawcatuck, CT 6379July 01, 1964Full Service Brick and Mortar
    3244410Center Groton BranchRoutes 184 And 117, Groton, CT 6340May 20, 1978Full Service Brick and Mortar
    4244411North Stonington BranchHolly Green Plaza Route 2, North Stonington, CT 6359May 05, 1979Full Service Brick and Mortar
    512164Mystic Branch2 Water Street, Mystic, CT 6355January 01, 1858Full Service Brick and Mortar
    6244494Norwichtown Branch50 Town Street, Norwich, CT 6360December 06, 1975Full Service Brick and Mortar
    7244495Sprague Branch156 Willimantic Road, Baltic, CT 6330March 19, 1981Full Service Brick and Mortar
    8244412Salem Branch2 Salem Marketplace Routes 82 & 85, Salem, CT 6420May 18, 1987Full Service Brick and Mortar
    10244414West Main Street Branch444 West Main Street, Norwich, CT 6360November 23, 1987Full Service Brick and Mortar
    12244415Niantic Branch21 Pennsylvania Avenue, Niantic, CT 6357September 26, 1994Full Service Brick and Mortar
    13244416Waterford Branch157 Boston Post Road, Waterford, CT 6385January 13, 1997Full Service Brick and Mortar
    14244417Mystic Autobank Express50 N Stonington Road, Mystic, CT 6355March 17, 1998Limited Service Facility
    15424754New London BranchOne Montauk Avenue, New London, CT 6320September 26, 2003Full Service Brick and Mortar

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