Chittenden Trust Company in Burlington, Vermont (VT)



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Chittenden Trust Company
GeneralFDIC Certificate #: 14149
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: People's United Bank (#27334)
Federal Reserve ID: 40305
Date Established: November 05, 1906
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 18078
FDIC's unique #: 8835
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: March 31, 1934
Last Structure Change Effective Date: January 01, 2009
Last Structure Change Process Date: Febuary 19, 2009
Last Data Update: Febuary 19, 2009
Data Source Date: April 05, 2012
LocationAddress: Two Burlington Square, Burlington, VT 5401
County: Chittenden
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): Burlington, VT (#1305)
Core Based Statistical Area (CBSA): Burlington-South Burlington, VT (#15540)
CBSA Metro Statistical Area: Burlington-South Burlington, VT (#15540)
Financial SummaryTotal assets: $3,793.1 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)1,075
Total assets$3,793,058
Cash and due from depository institutions$75,586
Interest-bearing balances$391
Securities$792,446
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$2,430,221
Loan loss allowance $28,371
Trading account assets$0
Bank premises and fixed assets$61,543
Other real estate owned$1,432
Goodwill and other intangibles$362,421
All other assets$69,409
Life insurance assets$0
Total liabilities and capital$3,793,058
Total liabilities$3,179,776
Total deposits$2,582,700
Interest-bearing deposits$2,247,306
Deposits held in domestic offices$2,582,700
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $444,801
Trading liabilities$0
Other borrowed funds $20,772
Subordinated debt $0
All other liabilities $131,503
Total equity capital$613,282
Total bank equity capital$613,282
Perpetual preferred stock$613,282
Common stock$0
Surplus$1
Undivided profits $575,612
Memoranda
Noncurrent loans and leases $37,669
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $747,796
Income earned, not collected on loans $0
Earning assets $23,339
Long-term assets (5+ years) $2,886
Average Assets, year-to-date $10,799
Average Assets, quarterly $3,223,058
Volatile liabilities $0
Insider loans $3,545,566
FHLB advances $3,623,345
Loans and leases held for sale $725,888
Unused loan commitments $10,809
Tier 1 (core) risk-based capital $4,621
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $747,796
Restructured Loans and leases $1,621
Derivatives$28,571
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $161,170
Total interest expense $44,564
Net interest income $116,606
Provision for loan and lease losses $3,088
Total noninterest income $65,617
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $65,617
Total noninterest expense $130,220
Salaries and employee benefits $69,320
Premises and equipment expense $22,480
Additional noninterest expense $38,420
Pre-tax net operating income $48,915
Securities gains (losses) $10,206
Applicable income taxes $17,658
Income before extraordinary items $41,463
Extraordinary gains - net $0
Net income attributable to bank $41,463
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $3,842
Net operating income $0
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.38%
Cost of funding earning assets 1.49%
Net interest margin 3.89%
Noninterest income to earning assets 2.19%
Noninterest expense to earning assets 4.35%
Net operating income to assets 0.97%
Return on assets (ROA) 1.17%
Pretax return on assets 1.67%
Return on equity (ROE) 7.77%
Retained earnings to average equity (YTD only) 7.77%
Net charge-offs to loans 0.16%
Credit loss provision to net charge-offs 80.37%
Efficiency ratio13.54%
Assets per employee$64,751
Cash dividends to net income (YTD only)3.53%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.15%
Noncurrent assets plus other real estate owned to assets 121.56%
Noncurrent loans to loans 0.65%
Net loans and leases to deposits0.95%
Net loans and leases to core deposits 94.10%
Equity capital to assets 104.64%
Core capital (leverage) ratio 16.17%
Tier 1 risk-based capital ratio 7.38%
Total risk-based capital ratio 9.12%
Memoranda
Average assets$10
Average earning assets$3,545,566
Average equity $533,701
Average loans $2,995,702
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Total Fiduciary and Related Assets (December 31, 2008)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$7,498,334
Number of Accounts1
Personal trust and agency accounts$1,251,721
Employee benefit-defined contribution accounts$463,278
Employee benefit-defined benefit accounts$31,984
Other retirement accounts$101,629
Corporate trust and agency accounts$95,945
Investment management agency accounts$101,052
Other fiduciary accounts$457,830
Fiduciary accounts held in foreign offices$0
Non-managed Assets$3
Number of Accounts4383
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$6,246,613
Corporate trust and agency accounts$22,215
Other fiduciary accounts$172,286
Fiduciary accounts held in foreign offices$11,199
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Bank Assets Sold and Securitized (December 31, 2007)
(Dollar figures in thousands)
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