Country Bank for Savings in Ware, Massachusetts (MA)



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Table of contents:
Country Bank for Savings
GeneralFDIC Certificate #: 23992
Status: Active
Federal Reserve ID: 689209
Date Established: July 01, 1850
WWW: http://www.countrybank.com
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 15 (Domestic: 15, Interstate: No)
OTS Docket #: 5068
FDIC's unique #: 16732
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: August 16, 1982
Last Structure Change Effective Date: September 29, 2006
Last Structure Change Process Date: September 29, 2006
Last Data Update: September 29, 2006
Data Source Date: April 05, 2012
LocationAddress: 75 Main Street, Ware, MA 1082
County: Hampshire
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): Springfield, MA (#8000)
Core Based Statistical Area (CBSA): Springfield, MA (#44140)
CBSA Metro Statistical Area: Springfield, MA (#44140)
Financial SummaryTotal assets: $1,431.1 mil
Equity capital: $176.0 mil
Deposits held in domestic offices: $953.8 mil
Return on assets (ROA): 0.62% ($8.9 mil)
Quarterly return on assets: 0.62% ($8.9 mil)
Return on Equity (ROE): 5.24% ($9.2 mil)
Quarterly return on equity: 5.05% ($8.9 mil)
Net income: $8.9 mil
Quarterly Net income: $2.2 mil
Pretax return on assets: 0.94% ($13,452.7 mil)
Quarterly Pretax return on assets: 0.93% ($13,309.6 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)
Total employees (full-time equivalent)232
Total assets$1,431,138
Cash and due from depository institutions$15,994
Interest-bearing balances$0
Securities$501,229
Federal funds sold & reverse repurchase agreements$5,427
Net loans & leases$852,072
Loan loss allowance $8,292
Trading account assets$0
Bank premises and fixed assets$14,102
Other real estate owned$1,018
Goodwill and other intangibles$1,047
All other assets$40,249
Life insurance assets$1,431,138
Total liabilities and capital$1,255,176
Total liabilities$953,777
Total deposits$821,438
Interest-bearing deposits$953,777
Deposits held in domestic offices$87
% insured (estimated)125000.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$148,265
Other borrowed funds $0
Subordinated debt $28,134
All other liabilities $175,962
Total equity capital$175,962
Total bank equity capital$175,962
Perpetual preferred stock$0
Common stock$0
Surplus$173,357
Undivided profits $2,605
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $34,645
Earning assets $0
Long-term assets (5+ years) $6,315
Average Assets, year-to-date $1,358,728
Average Assets, quarterly $1,044,767
Volatile liabilities $1,443,316
Insider loans $1,435,793
FHLB advances $898,899
Loans and leases held for sale $1,433,159
Unused loan commitments $3,637
Tier 1 (core) risk-based capital $2,635
Tier 2 risk-based capital $171,999
Total risk weighted assets $1,002
Total unused commitments $0
Restructured Loans and leases $132,452
Derivatives$957
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $65,886
Total interest expense $18,138
Net interest income $47,748
Provision for loan and lease losses $3,100
Total noninterest income $3,888
Fiduciary activities $0
Service charges on deposit accounts $1,633
Trading account gains & fees $0
Additional noninterest income $2,255
Total noninterest expense $37,770
Salaries and employee benefits $20,075
Premises and equipment expense $3,846
Additional noninterest expense $13,849
Pre-tax net operating income $10,766
Securities gains (losses) $2,848
Applicable income taxes $4,720
Income before extraordinary items $8,894
Extraordinary gains - net $0
Net income attributable to bank $8,894
Net charge-offs $0
Cash dividends $8,894
Sale, conversion, retirement of capital stock, net $5,781
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.81%
Cost of funding earning assets 1.32%
Net interest margin 3.48%
Noninterest income to earning assets 0.28%
Noninterest expense to earning assets 2.76%
Net operating income to assets 0.49%
Return on assets (ROA) 0.62%
Pretax return on assets 0.94%
Return on equity (ROE) 5.24%
Retained earnings to average equity (YTD only) 5.24%
Net charge-offs to loans 0.67%
Credit loss provision to net charge-offs 53.62%
Efficiency ratio2.40%
Assets per employee$73,147
Cash dividends to net income (YTD only)6.17%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.96%
Noncurrent assets plus other real estate owned to assets 23.93%
Noncurrent loans to loans 2.49%
Net loans and leases to deposits4.03%
Net loans and leases to core deposits 89.34%
Equity capital to assets 100.05%
Core capital (leverage) ratio 12.30%
Tier 1 risk-based capital ratio 12.00%
Total risk-based capital ratio 19.13%
Memoranda
Average assets$20
Average earning assets$1,443,316
Average equity $169,844
Average loans $1,370,785
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15 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016732Country Bank For Savings75 Main Street, Ware, MA 1082July 01, 1850Full Service Brick and Mortar
2291521West Brookfield Branch8 West Main Street, West Brookfield, MA 1585March 19, 1977Full Service Brick and Mortar
3291522West Street Branch155 West Street, Ware, MA 1082July 08, 1975Full Service Brick and Mortar
417852Palmer Branch485 North Main Street, Palmer, MA 1069January 01, 1870Full Service Brick and Mortar
5291395Thorndike Branch191 Sykes Street, Palmer, MA 1069June 05, 1976Full Service Brick and Mortar
6291396Brimfield Branch9 Main Street (South Side), Brimfield, MA 1010June 12, 1976Full Service Brick and Mortar
7256867North Main Street Branch21 North Main Street, Belchertown, MA 1007December 09, 1988Full Service Brick and Mortar
8178121084 Main Street Branch1084 Main Street, Leicester, MA 1524April 17, 1869Full Service Brick and Mortar
9256868Wilbraham Branch2379 Boston Road, Wilbraham, MA 1095December 06, 1997Full Service Brick and Mortar
10256869Wal Mart Branch Ware352 Palmer Road, Ware, MA 1082April 29, 1999Full Service Retail
11365015Ludlow Branch425 Center Street, Ludlow, MA 1056January 22, 2002Full Service Retail
12431452Paxton Branch687 Pleasant Street, Paxton, MA 1612June 10, 2004Full Service Brick and Mortar
13431453Charlton Branch37 Worcester Road, Charlton, MA 1507April 23, 2004Full Service Brick and Mortar
14452534Overlook Life Care Community Branch88 Masonic Home Road, Charlton, MA 1507June 12, 2006Full Service Retail
15461452Walmart Leicester Branch20 Soojian Drive, Suite #2, Leicester, MA 1524March 14, 2007Full Service Retail
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