Colonial Co-operative Bank in Gardner, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Colonial Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26556
    Status: Active
    Federal Reserve ID: 266879
    Date Established: January 22, 1915
    WWW: http://www.colonial4banking.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 6286
    FDIC's unique #: 35254
    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: Febuary 26, 1986
    Last Structure Change Effective Date: July 30, 2010
    Last Structure Change Process Date: August 30, 2010
    Last Data Update: August 30, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 6 City Hall Avenue, Gardner, MA 1440
    County: Worcester
    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): Fitchburg-Leominster, MA (#2600)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $75.3 mil
    Equity capital: $6.1 mil
    Deposits held in domestic offices: $68.7 mil
    Return on assets (ROA): -1.17% (-$0.9 mil)
    Quarterly return on assets: -1.25% (-$0.9 mil)
    Return on Equity (ROE): -13.73% (-$0.8 mil)
    Quarterly return on equity: -15.28% (-$0.9 mil)
    Net income: -$0.9 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: -1.95% (-$1,468.5 mil)
    Quarterly Pretax return on assets: -2.09% (-$1,574.0 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
  • 28Total employees (full-time equivalent)
  • $75,309Total assets
  • $10,824Cash and due from depository institutions
  • $8,931Interest-bearing balances
  • $2,107Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $57,935Net loans & leases
  • $974Loan loss allowance
  • $0Trading account assets
  • $1,288Bank premises and fixed assets
  • $797Other real estate owned
  • $0Goodwill and other intangibles
  • $75,309Life insurance assets
  • $2,358All other assets
  • $69,200Total liabilities and capital
  • $68,703Total liabilities
  • $65,972Total deposits
  • $68,703Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $497Subordinated debt
  • $6,109All other liabilities
  • $6,109Total equity capital
  • $6,109Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $6,109Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,251Income earned, not collected on loans
  • $0Earning assets
  • $152Long-term assets (5+ years)
  • $68,973Average Assets, year-to-date
  • $48,663Average Assets, quarterly
  • $77,516Volatile liabilities
  • $76,099Insider loans
  • $40,643FHLB advances
  • $75,182Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,459Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $740Restructured Loans and leases
  • $348Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,410Total interest income
  • $885Total interest expense
  • $2,525Net interest income
  • $1,128Provision for loan and lease losses
  • $604Total noninterest income
  • $0Fiduciary activities
  • $442Service charges on deposit accounts
  • $0Trading account gains & fees
  • $162Additional noninterest income
  • $3,569Total noninterest expense
  • $1,452Salaries and employee benefits
  • $317Premises and equipment expense
  • $1,800Additional noninterest expense
  • -$1,568Pre-tax net operating income
  • $53Securities gains (losses)
  • -$606Applicable income taxes
  • -$909Income before extraordinary items
  • $0Extraordinary gains - net
  • -$909Net income attributable to bank
  • $0Net charge-offs
  • -$909Cash dividends
  • $1,725Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.03%Yield on earning assets
  • 1.31%Cost of funding earning assets
  • 3.72%Net interest margin
  • 0.89%Noninterest income to earning assets
  • 5.26%Noninterest expense to earning assets
  • -1.22%Net operating income to assets
  • -1.17%Return on assets (ROA)
  • -1.95%Pretax return on assets
  • -13.73%Return on equity (ROE)
  • -13.73%Retained earnings to average equity (YTD only)
  • 2.86%Net charge-offs to loans
  • 65.39%Credit loss provision to net charge-offs
  • -0.26%Efficiency ratio
  • 114,062Assets per employee
  • 2.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.65%Loss allowance to noncurrent loans
  • 29.96%Noncurrent assets plus other real estate owned to assets
  • 5.38%Noncurrent loans to loans
  • 5.52%Net loans and leases to deposits
  • 84.33%Net loans and leases to core deposits
  • 86.98%Equity capital to assets
  • 8.11%Core capital (leverage) ratio
  • 7.26%Tier 1 risk-based capital ratio
  • 13.43%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $77,516Average earning assets
  • $6,622Average equity
  • $67,809Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    035254Colonial Co-Operative Bank6 City Hall Avenue, Gardner, MA 1440January 22, 1915Full Service Brick and Mortar
    2259680Winchendon Branch1 School Square, Winchendon, MA 1475September 30, 1975Full Service Brick and Mortar
    333211Baldwinville Branch5 Central Street, Baldwinville, MA 1436January 01, 1889Full Service Brick and Mortar

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