Danversbank in Danvers, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 2011

Danversbank - Overview

  • General
  • FDIC Certificate #: 90185
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: People's United Bank (#27334)
    Federal Reserve ID: 750305
    Date Established: March 01, 1850
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 28 (Interstate: No)
    OTS Docket #: 8024
    FDIC's unique #: 17776
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: September 06, 1985
    Last Structure Change Effective Date: July 01, 2011
    Last Structure Change Process Date: July 28, 2011
    Last Data Update: July 28, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 Conant Street, Danvers, MA 1923
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    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): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Peabody, MA (#37764)
  • Financial Summary
  • Total assets: $2,583.4 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, 2010)

  • Dollar figures in thousands
  • 378Total employees (full-time equivalent)
  • $2,833,345Total assets
  • $30,281Cash and due from depository institutions
  • $9,982Interest-bearing balances
  • $876,341Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,767,720Net loans & leases
  • $17,900Loan loss allowance
  • $0Trading account assets
  • $39,295Bank premises and fixed assets
  • $832Other real estate owned
  • $33,479Goodwill and other intangibles
  • $34,250Life insurance assets
  • $85,397All other assets
  • $2,833,345Total liabilities and capital
  • $2,599,523Total liabilities
  • $2,150,610Total deposits
  • $1,990,708Interest-bearing deposits
  • $2,150,610Deposits held in domestic offices
  • 62.63%% insured (estimated)
  • $45,330Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $367,363Other borrowed funds
  • $0Subordinated debt
  • $36,220All other liabilities
  • $233,822Total equity capital
  • $233,822Total bank equity capital
  • $233,822Perpetual preferred stock
  • $10Common stock
  • $111,077Surplus
  • $33,830Undivided profits
  • Memoranda
  • $88,905Noncurrent loans and leases
  • $471,493Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $13,002Earning assets
  • $0Long-term assets (5+ years)
  • $9,846Average Assets, year-to-date
  • $2,654,043Average Assets, quarterly
  • $1,054,119Volatile liabilities
  • $2,574,019Insider loans
  • $2,725,700FHLB advances
  • $599,232Loans and leases held for sale
  • $70,778Unused loan commitments
  • $364,778Tier 1 (core) risk-based capital
  • $80,163Tier 2 risk-based capital
  • $2,881Total risk weighted assets
  • $471,493Total unused commitments
  • $927Restructured Loans and leases
  • $17,917Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $119,009Total interest income
  • $32,910Total interest expense
  • $86,099Net interest income
  • $5,150Provision for loan and lease losses
  • $12,039Total noninterest income
  • $1,571Fiduciary activities
  • $3,991Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6,477Additional noninterest income
  • $67,204Total noninterest expense
  • $36,072Salaries and employee benefits
  • $12,256Premises and equipment expense
  • $18,876Additional noninterest expense
  • $25,784Pre-tax net operating income
  • $1,328Securities gains (losses)
  • $6,820Applicable income taxes
  • $20,292Income before extraordinary items
  • $0Extraordinary gains - net
  • $20,292Net income attributable to bank
  • $0Net charge-offs
  • $20,292Cash dividends
  • $1,949Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.99%Yield on earning assets
  • 1.38%Cost of funding earning assets
  • 3.61%Net interest margin
  • 0.51%Noninterest income to earning assets
  • 2.82%Noninterest expense to earning assets
  • 0.75%Net operating income to assets
  • 0.79%Return on assets (ROA)
  • 1.05%Pretax return on assets
  • 8.86%Return on equity (ROE)
  • 8.86%Retained earnings to average equity (YTD only)
  • 0.11%Net charge-offs to loans
  • 264.24%Credit loss provision to net charge-offs
  • 15.87%Efficiency ratio
  • 66,252Assets per employee
  • 7.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 137.67%Noncurrent assets plus other real estate owned to assets
  • 0.49%Noncurrent loans to loans
  • 0.73%Net loans and leases to deposits
  • 82.20%Net loans and leases to core deposits
  • 97.86%Equity capital to assets
  • 8.25%Core capital (leverage) ratio
  • 7.53%Tier 1 risk-based capital ratio
  • 10.46%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $2,574,019Average earning assets
  • $228,921Average equity
  • $2,382,761Average loans

Total Fiduciary and Related Assets (December 31, 2010)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $194,499Managed Assets
  • 1Number of Accounts
  • $194,499Personal trust and agency accounts
  • $78,108Employee benefit-defined contribution accounts
  • $733Employee benefit-defined benefit accounts
  • $6,005Other retirement accounts
  • $20,973Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $88,680Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 444Number of Accounts
  • $0Personal trust and agency accounts
  • $20,973Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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