Commerce Bank & Trust Company in Worcester, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Commerce Bank & Trust Company in Worcester, Massachusetts (MA)
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Commerce Bank & Trust Company - Overview

  • General
  • FDIC Certificate #: 17484
    Status: Active
    Federal Reserve ID: 824000
    Bank Holding Company (Regulatory Top Holder): Commerce Bancshares Corp. (RSSDID: 2467689, Location: Worcester, MA)
    Date Established: July 06, 1955
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 14 (Domestic: 14, Interstate: No)
    OTS Docket #: 13732
    FDIC's unique #: 11467
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: 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: Commercial Lending Specialization
    Date of Deposit Insurance: July 06, 1955
    Last Structure Change Effective Date: October 06, 2006
    Last Structure Change Process Date: October 06, 2006
    Last Data Update: October 06, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 386 Main Street, Worcester, MA 1608
    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): Worcester, MA-CT (#9240)
    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)
  • Financial Summary
  • Total assets: $1,410.8 mil
    Equity capital: $138.4 mil
    Deposits held in domestic offices: $1,187.6 mil
    Return on assets (ROA): 0.85% ($12.0 mil)
    Quarterly return on assets: 0.77% ($10.9 mil)
    Return on Equity (ROE): 8.76% ($12.1 mil)
    Quarterly return on equity: 7.56% ($10.4 mil)
    Net income: $11.8 mil
    Quarterly Net income: $2.6 mil
    Pretax return on assets: 1.39% ($19,609.5 mil)
    Quarterly Pretax return on assets: 1.23% ($17,352.2 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
  • 242Total employees (full-time equivalent)
  • $1,410,752Total assets
  • $412,670Cash and due from depository institutions
  • $404,418Interest-bearing balances
  • $130,128Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $810,279Net loans & leases
  • $8,722Loan loss allowance
  • $0Trading account assets
  • $10,563Bank premises and fixed assets
  • $2,100Other real estate owned
  • $0Goodwill and other intangibles
  • $1,410,752Life insurance assets
  • $45,012All other assets
  • $1,272,322Total liabilities and capital
  • $1,187,565Total liabilities
  • $945,494Total deposits
  • $1,187,565Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 17377.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $55,665Trading liabilities
  • $0Other borrowed funds
  • $11,715Subordinated debt
  • $138,430All other liabilities
  • $138,430Total equity capital
  • $138,430Total bank equity capital
  • $0Perpetual preferred stock
  • $3,673Common stock
  • $32,999Surplus
  • $101,758Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,277Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,312Income earned, not collected on loans
  • $0Earning assets
  • $3,280Long-term assets (5+ years)
  • $1,344,825Average Assets, year-to-date
  • $274,542Average Assets, quarterly
  • $1,376,853Volatile liabilities
  • $1,352,258Insider loans
  • $949,376FHLB advances
  • $1,276,487Loans and leases held for sale
  • $22,439Unused loan commitments
  • $11,414Tier 1 (core) risk-based capital
  • $134,093Tier 2 risk-based capital
  • $11,025Total risk weighted assets
  • $0Total unused commitments
  • $122,227Restructured Loans and leases
  • $9,283Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $51,294Total interest income
  • $11,220Total interest expense
  • $40,074Net interest income
  • $1,246Provision for loan and lease losses
  • $13,497Total noninterest income
  • $0Fiduciary activities
  • $4,744Service charges on deposit accounts
  • $0Trading account gains & fees
  • $8,753Additional noninterest income
  • $33,245Total noninterest expense
  • $19,083Salaries and employee benefits
  • $3,703Premises and equipment expense
  • $10,459Additional noninterest expense
  • $19,080Pre-tax net operating income
  • $0Securities gains (losses)
  • $7,308Applicable income taxes
  • $11,772Income before extraordinary items
  • $0Extraordinary gains - net
  • $11,772Net income attributable to bank
  • $0Net charge-offs
  • $11,772Cash dividends
  • $1,349Sale, conversion, retirement of capital stock, net
  • $2,669Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.91%Yield on earning assets
  • 0.86%Cost of funding earning assets
  • 3.05%Net interest margin
  • 1.03%Noninterest income to earning assets
  • 2.53%Noninterest expense to earning assets
  • 0.85%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 1.39%Pretax return on assets
  • 8.76%Return on equity (ROE)
  • 6.77%Retained earnings to average equity (YTD only)
  • 0.18%Net charge-offs to loans
  • 92.36%Credit loss provision to net charge-offs
  • 15.07%Efficiency ratio
  • 62,058Assets per employee
  • 5.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 22.67%Loss allowance to loans
  • 1.06%Loss allowance to noncurrent loans
  • 138.18%Noncurrent assets plus other real estate owned to assets
  • 0.60%Noncurrent loans to loans
  • 0.77%Net loans and leases to deposits
  • 68.23%Net loans and leases to core deposits
  • 70.87%Equity capital to assets
  • 9.81%Core capital (leverage) ratio
  • 10.50%Tier 1 risk-based capital ratio
  • 14.12%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,376,853Average earning assets
  • $134,417Average equity
  • $1,311,871Average loans

Total Fiduciary and Related Assets (December 31, 2005)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $662Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $662Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 14 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011467Commerce Bank & Trust Company386 Main Street, Worcester, MA 1608July 06, 1955Full Service Brick and Mortar
    2241797Shrewsbury Branch226 Boston Turnpike, Shrewsbury, MA 1545January 02, 1968Full Service Brick and Mortar
    3241798Webster Branch25 Worcester Road, Webster, MA 1570April 10, 1972Full Service Brick and Mortar
    5241800Westborough Branch5 East Main, Westborough, MA 1581October 03, 1985Full Service Brick and Mortar
    6241801Park Avenue Branch560 Park Avenue, Worcester, MA 1603Febuary 01, 1995Full Service Brick and Mortar
    7241802Holden Branch1059 Main Street, Holden, MA 1520October 01, 1996Full Service Brick and Mortar
    8241803West Boylston Branch320 West Boylston Street, West Boylston, MA 1583September 15, 1997Full Service Brick and Mortar
    9241804Main Street Branch404 Main Street, Worcester, MA 1608December 14, 1998Limited Service Facility
    10241805Park Avenue Branch11 Park Avenue, Worcester, MA 1605June 25, 1999Full Service Brick and Mortar
    11358167Grafton Street Branch993 Grafton Street, Worcester, MA 1604March 27, 2000Full Service Brick and Mortar
    12365418Leominster Branch565 Main Street, Leominster, MA 1453Febuary 07, 2002Full Service Brick and Mortar
    13365536Marlborough Branch322 Maple Street, Marlborough, MA 1752November 25, 2002Full Service Brick and Mortar
    14428537Milford Branch91 Main Street, Milford, MA 1757May 21, 2004Full Service Brick and Mortar
    15521540Lincoln Street Branch451 Lincoln Street, Worcester, MA 1605April 18, 2011Full Service Brick and Mortar

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