FDIC Certificate #: 28 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Eastern Bank (#32773) Federal Reserve ID: 372109 Date Established: January 01, 1803 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 14 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: November 22, 2002 Last Structure Change Process Date: Febuary 10, 2003 Last Data Update: Febuary 10, 2003 Data Source Date: April 05, 2012
Location
Address: 217 Essex Street, Salem, MA 1970 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: $12.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
57Total employees (full-time equivalent)
$13,404Total assets
$12,316Cash and due from depository institutions
$9,323Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$0Loan loss allowance
$0Trading account assets
$487Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$601All other assets
$13,404Total liabilities and capital
$7,322Total liabilities
$100Total deposits
$100Interest-bearing deposits
$100Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$7,222All other liabilities
$6,082Total equity capital
$6,082Total bank equity capital
$6,082Perpetual preferred stock
$0Common stock
$510Surplus
$3,850Undivided profits
Memoranda
$1,722Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$0Average Assets, year-to-date
$9,323Average Assets, quarterly
$0Volatile liabilities
$13,500Insider loans
$13,323FHLB advances
$100Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$253Total interest income
$4Total interest expense
$249Net interest income
$0Provision for loan and lease losses
$10,398Total noninterest income
$10,298Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$100Additional noninterest income
$9,443Total noninterest expense
$4,970Salaries and employee benefits
$482Premises and equipment expense
$3,991Additional noninterest expense
$1,204Pre-tax net operating income
$0Securities gains (losses)
$528Applicable income taxes
$676Income before extraordinary items
$0Extraordinary gains - net
$676Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$1,400Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
2.75%Yield on earning assets
0.04%Cost of funding earning assets
2.71%Net interest margin
113.05%Noninterest income to earning assets
102.66%Noninterest expense to earning assets
5.01%Net operating income to assets
5.01%Return on assets (ROA)
8.92%Pretax return on assets
10.79%Return on equity (ROE)
-11.56%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
86,700Assets per employee
0.24%Cash dividends to net income (YTD only)
Condition Ratios (%)
207.10%Loss allowance to loans
0.00%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
0.00%Net loans and leases to core deposits
0.00%Equity capital to assets
45.37%Core capital (leverage) ratio
45.67%Tier 1 risk-based capital ratio
171.28%Total risk-based capital ratio
Memoranda
$171Average assets
$13,500Average earning assets
$6,262Average equity
$9,198Average loans
Total Fiduciary and Related Assets (December 31, 2001)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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