Eastern Federal Bank in Norwich, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Eastern Federal Bank in Norwich, Connecticut (CT)
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Eastern Federal Bank - Overview

  • General
  • FDIC Certificate #: 28167
    Status: Active
    Federal Reserve ID: 939070
    Date Established: January 01, 1915
    WWW: http://www.bankefb.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 1039
    FDIC's unique #: 41001
    Numeric code: 34
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 27, 1949
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 257 Main Street, Norwich, CT 6360
    County: New London
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): New London-Norwich, CT-RI (#5520)
    Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
    CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $163.1 mil
    Equity capital: $18.3 mil
    Deposits held in domestic offices: $119.2 mil
    Return on assets (ROA): 0.18% ($0.3 mil)
    Quarterly return on assets: 0.06% ($0.1 mil)
    Return on Equity (ROE): 1.58% ($0.3 mil)
    Quarterly return on equity: 0.50% ($0.1 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.22% ($358.7 mil)
    Quarterly Pretax return on assets: 0.04% ($65.2 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
  • 43Total employees (full-time equivalent)
  • $163,064Total assets
  • $13,661Cash and due from depository institutions
  • $11,776Interest-bearing balances
  • $1,174Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $134,830Net loans & leases
  • $1,330Loan loss allowance
  • $0Trading account assets
  • $3,034Bank premises and fixed assets
  • $830Other real estate owned
  • $163Goodwill and other intangibles
  • $163,064Life insurance assets
  • $9,372All other assets
  • $144,742Total liabilities and capital
  • $119,188Total liabilities
  • $104,011Total deposits
  • $119,188Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $24,712Trading liabilities
  • $0Other borrowed funds
  • $842Subordinated debt
  • $18,322All other liabilities
  • $18,322Total equity capital
  • $18,322Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $18,322Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,991Income earned, not collected on loans
  • $0Earning assets
  • $460Long-term assets (5+ years)
  • $147,780Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $163,450Volatile liabilities
  • $161,273Insider loans
  • $113,879FHLB advances
  • $163,043Loans and leases held for sale
  • $4,036Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $18,301Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,365Restructured Loans and leases
  • $166Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,722Total interest income
  • $1,864Total interest expense
  • $4,858Net interest income
  • $70Provision for loan and lease losses
  • $718Total noninterest income
  • $0Fiduciary activities
  • $289Service charges on deposit accounts
  • $0Trading account gains & fees
  • $429Additional noninterest income
  • $5,141Total noninterest expense
  • $3,036Salaries and employee benefits
  • $1,282Premises and equipment expense
  • $823Additional noninterest expense
  • $365Pre-tax net operating income
  • $0Securities gains (losses)
  • $77Applicable income taxes
  • $288Income before extraordinary items
  • $0Extraordinary gains - net
  • $288Net income attributable to bank
  • $0Net charge-offs
  • $288Cash dividends
  • $69Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.56%Yield on earning assets
  • 1.26%Cost of funding earning assets
  • 3.29%Net interest margin
  • 0.49%Noninterest income to earning assets
  • 3.48%Noninterest expense to earning assets
  • 0.18%Net operating income to assets
  • 0.18%Return on assets (ROA)
  • 0.22%Pretax return on assets
  • 1.58%Return on equity (ROE)
  • 1.58%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 101.45%Credit loss provision to net charge-offs
  • 6.30%Efficiency ratio
  • 92,199Assets per employee
  • 3.79%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.98%Loss allowance to noncurrent loans
  • 33.32%Noncurrent assets plus other real estate owned to assets
  • 2.96%Noncurrent loans to loans
  • 2.93%Net loans and leases to deposits
  • 113.12%Net loans and leases to core deposits
  • 119.68%Equity capital to assets
  • 11.24%Core capital (leverage) ratio
  • 11.22%Tier 1 risk-based capital ratio
  • 16.07%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $163,450Average earning assets
  • $18,222Average equity
  • $147,556Average loans

List of branches

  • 4 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041001Eastern Federal Bank257 Main Street, Norwich, CT 6360January 01, 1915Full Service Brick and Mortar
    1265308West Side Office666 West Main Street, Norwich, CT 6360January 01, 1915Full Service Brick and Mortar
    2265309Jewett City Branch1 Slater Avenue, Jewett City, CT 6351January 01, 1915Full Service Brick and Mortar
    102464003Plainfield Branch14 Lathrop Road, Plainfield, CT 6374Febuary 14, 2004Full Service Brick and Mortar

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