Citizens Savings Bank FSB in Ithaca, New York (NY)



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Citizens Savings Bank FSB
GeneralFDIC Certificate #: 31753
Status: Inactive
Closing history: Corrections
Acquiring institution: Manufacturers and Traders Trust Company (#588)
Federal Reserve ID: 431501
Date Established: December 30, 1980
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 7424
FDIC's unique #: 44587
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: December 30, 1980
Last Structure Change Effective Date: December 01, 1994
Last Structure Change Process Date: Febuary 02, 1995
Last Data Update: January 27, 1999
Data Source Date: April 05, 2012
LocationAddress: 118 North Tioga Street, Ithaca, NY 14850
County: Tompkins
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Syracuse
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Ithaca-Cortland, NY (#296)
Core Based Statistical Area (CBSA): Ithaca, NY (#27060)
CBSA Metro Statistical Area: Ithaca, NY (#27060)
History of ChangesMerger - Without Assistance
Corrections
Financial SummaryTotal assets: $467.9 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$194
Cash and due from depository institutions$456,222
Interest-bearing balances$6,731
Securities$4,107
Federal funds sold & reverse repurchase agreements$74,007
Net loans & leases$4,400
Loan loss allowance $344,736
Trading account assets$3,588
Bank premises and fixed assets$0
Other real estate owned$3,201
Goodwill and other intangibles$2,965
All other assets$1,307
Life insurance assets$18,875
Total liabilities and capital$0
Total liabilities$456,222
Total deposits$432,076
Interest-bearing deposits$340,293
Deposits held in domestic offices$340,293
% insured (estimated)340293.00%
Federal funds purchased & repurchase agreements $95
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $77,812
All other liabilities $0
Total equity capital$13,971
Total bank equity capital$13,971
Perpetual preferred stock$24,146
Common stock$0
Surplus$2,309
Undivided profits $18,029
Memoranda
Noncurrent loans and leases $3,808
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,548
Earning assets $3,118
Long-term assets (5+ years) $427,250
Average Assets, year-to-date $0
Average Assets, quarterly $459,031
Volatile liabilities $456,488
Insider loans $112,815
FHLB advances $3,239
Loans and leases held for sale $77,812
Unused loan commitments $0
Tier 1 (core) risk-based capital $32,947
Tier 2 risk-based capital $0
Total risk weighted assets $23,566
Total unused commitments $257,265
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $29,786
Net interest income $15,973
Provision for loan and lease losses $13,813
Total noninterest income $275
Fiduciary activities $917
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $917
Salaries and employee benefits $15,563
Premises and equipment expense $6,088
Additional noninterest expense $2,873
Pre-tax net operating income $6,602
Securities gains (losses) -$1,108
Applicable income taxes $2,773
Income before extraordinary items -$77
Extraordinary gains - net $1,742
Net income attributable to bank $0
Net charge-offs $1,742
Cash dividends $2,903
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.06%
Net interest margin 3.78%
Noninterest income to earning assets 3.27%
Noninterest expense to earning assets 0.22%
Net operating income to assets 3.69%
Return on assets (ROA) -0.22%
Pretax return on assets 0.38%
Return on equity (ROE) 0.36%
Retained earnings to average equity (YTD only) 7.63%
Net charge-offs to loans 7.63%
Credit loss provision to net charge-offs 0.78%
Efficiency ratio9.47%
Assets per employee$105,655
Cash dividends to net income (YTD only)2.35%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.03%
Noncurrent assets plus other real estate owned to assets 64.67%
Noncurrent loans to loans 1.87%
Net loans and leases to deposits1.59%
Net loans and leases to core deposits 101.31%
Equity capital to assets 112.92%
Core capital (leverage) ratio 5.29%
Tier 1 risk-based capital ratio 5.27%
Total risk-based capital ratio 9.16%
Memoranda
Average assets$10
Average earning assets$459,031
Average equity $22,843
Average loans $422,038
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