Citizens Trust Company in Providence, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 1997

  • Citizens Trust Company in Providence, Rhode Island (RI)
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Citizens Trust Company - Overview

  • General
  • FDIC Certificate #: 16955
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Citizens Bank of Rhode Island (#16954)
    Federal Reserve ID: 734408
    Date Established: January 01, 1828
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 63 (Interstate: No)
    FDIC's unique #: 11033
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: November 21, 1950
    Last Structure Change Effective Date: March 01, 1997
    Last Structure Change Process Date: March 10, 1997
    Last Data Update: March 15, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: One Citizens Plaza, Providence, RI 2903
    County: Providence
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • Financial Summary
  • Total assets: $1,360.9 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
  • 0Total employees (full-time equivalent)
  • $1,111Total assets
  • $1,360,900Cash and due from depository institutions
  • $287,095Interest-bearing balances
  • $4,217Securities
  • $243,845Federal funds sold & reverse repurchase agreements
  • $40,000Net loans & leases
  • $681,297Loan loss allowance
  • $16,748Trading account assets
  • $3,526Bank premises and fixed assets
  • $12,187Other real estate owned
  • $0Goodwill and other intangibles
  • $70,800Life insurance assets
  • $22,150All other assets
  • $0Total liabilities and capital
  • $1,360,900Total liabilities
  • $1,260,308Total deposits
  • $1,050,547Interest-bearing deposits
  • $389,339Deposits held in domestic offices
  • 1050547.00%% insured (estimated)
  • $80Federal funds purchased & repurchase agreements
  • $116,295Trading liabilities
  • $0Other borrowed funds
  • $48Subordinated debt
  • $0All other liabilities
  • $93,418Total equity capital
  • $93,418Total bank equity capital
  • $100,592Perpetual preferred stock
  • $0Common stock
  • $3,809Surplus
  • $37,191Undivided profits
  • Memoranda
  • $59,592Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,555Income earned, not collected on loans
  • $2,477Earning assets
  • $972,885Long-term assets (5+ years)
  • $112,036Average Assets, year-to-date
  • $1,304,205Average Assets, quarterly
  • $1,351,264Volatile liabilities
  • $164,621Insider loans
  • $4,262FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $730,046Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $78,702Total risk weighted assets
  • $846,691Total unused commitments
  • $0Restructured Loans and leases
  • $273Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $82,018Total interest expense
  • $15,231Net interest income
  • $66,787Provision for loan and lease losses
  • $8,880Total noninterest income
  • $48,165Fiduciary activities
  • $8,249Service charges on deposit accounts
  • $17,618Trading account gains & fees
  • $83Additional noninterest income
  • $22,215Total noninterest expense
  • $73,030Salaries and employee benefits
  • $38,224Premises and equipment expense
  • $9,742Additional noninterest expense
  • $25,064Pre-tax net operating income
  • $33,042Securities gains (losses)
  • $212Applicable income taxes
  • $12,031Income before extraordinary items
  • $21,223Extraordinary gains - net
  • $0Net income attributable to bank
  • $21,223Net charge-offs
  • $7,955Cash dividends
  • $17,000Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.72%Cost of funding earning assets
  • 1.62%Net interest margin
  • 7.10%Noninterest income to earning assets
  • 5.12%Noninterest expense to earning assets
  • 7.77%Net operating income to assets
  • 1.62%Return on assets (ROA)
  • 1.63%Pretax return on assets
  • 2.55%Return on equity (ROE)
  • 22.12%Retained earnings to average equity (YTD only)
  • 4.40%Net charge-offs to loans
  • 1.18%Credit loss provision to net charge-offs
  • 111.63%Efficiency ratio
  • 61,442Assets per employee
  • 1.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 80.10%Loss allowance to loans
  • 2.40%Loss allowance to noncurrent loans
  • 367.68%Noncurrent assets plus other real estate owned to assets
  • 0.33%Noncurrent loans to loans
  • 0.65%Net loans and leases to deposits
  • 64.85%Net loans and leases to core deposits
  • 67.98%Equity capital to assets
  • 7.39%Core capital (leverage) ratio
  • 6.03%Tier 1 risk-based capital ratio
  • 9.30%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $1,304,205Average earning assets
  • $95,934Average equity
  • $940,132Average loans

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