Coastal Federal Savings Bank in New London, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 20, 1994

  • Coastal Federal Savings Bank in New London, Connecticut (CT)
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Coastal Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 33613
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Citizens Bank of Rhode Island (#16954)
    Federal Reserve ID: 509978
    Date Established: June 19, 1992
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 10030
    FDIC's unique #: 47667
    Numeric code: 34
    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: June 19, 1992
    Last Structure Change Effective Date: May 20, 1994
    Last Structure Change Process Date: June 07, 1994
    Last Data Update: August 02, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 15 Masonic Street, New London, CT 6320
    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
  • Pass Through Receivership Merger
    Corrections
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $119.8 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
  • 0Total employees (full-time equivalent)
  • $82Total assets
  • $126,031Cash and due from depository institutions
  • $11,202Interest-bearing balances
  • $5,033Securities
  • $85,883Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $12,673Loan loss allowance
  • $6,582Trading account assets
  • $0Bank premises and fixed assets
  • $1,852Other real estate owned
  • $2,550Goodwill and other intangibles
  • $11,871Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $126,031Total liabilities
  • $143,875Total deposits
  • $141,578Interest-bearing deposits
  • $141,578Deposits held in domestic offices
  • 141578.00%% insured (estimated)
  • $100Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $816Subordinated debt
  • $0All other liabilities
  • $1,481Total equity capital
  • $1,481Total bank equity capital
  • $-17,844Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-17,844Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,487Income earned, not collected on loans
  • $161Earning assets
  • $103,589Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $151,271Average Assets, quarterly
  • $128,759Volatile liabilities
  • $1,964Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-17,844Total risk weighted assets
  • $45,653Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $4,597Total interest expense
  • $4,866Net interest income
  • -$269Provision for loan and lease losses
  • $5,618Total noninterest income
  • -$184Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • -$184Total noninterest expense
  • $15,063Salaries and employee benefits
  • $2,520Premises and equipment expense
  • $1,342Additional noninterest expense
  • $11,201Pre-tax net operating income
  • -$21,134Securities gains (losses)
  • -$10Applicable income taxes
  • $2Income before extraordinary items
  • -$21,146Extraordinary gains - net
  • $0Net income attributable to bank
  • -$21,146Net charge-offs
  • $1,158Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 3.89%Cost of funding earning assets
  • 4.11%Net interest margin
  • -0.23%Noninterest income to earning assets
  • -0.16%Noninterest expense to earning assets
  • 12.74%Net operating income to assets
  • -13.97%Return on assets (ROA)
  • -13.98%Pretax return on assets
  • -13.98%Return on equity (ROE)
  • 290.30%Retained earnings to average equity (YTD only)
  • 290.30%Net charge-offs to loans
  • 3.38%Credit loss provision to net charge-offs
  • 485.15%Efficiency ratio
  • -3,325,166Assets per employee
  • 1.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 34.18%Loss allowance to noncurrent loans
  • 57.30%Noncurrent assets plus other real estate owned to assets
  • 11.14%Noncurrent loans to loans
  • 59.66%Net loans and leases to deposits
  • 8.95%Net loans and leases to core deposits
  • 9.02%Equity capital to assets
  • -14.16%Core capital (leverage) ratio
  • -14.16%Tier 1 risk-based capital ratio
  • -39.09%Total risk-based capital ratio
  • Memoranda
  • -$39Average assets
  • $151,271Average earning assets
  • -$7,284Average equity
  • $118,255Average loans

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