Essex Savings Bank in Essex, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches


Essex Savings Bank - Overview

  • General
  • FDIC Certificate #: 17262
    Status: Active
    Federal Reserve ID: 961400
    Date Established: August 06, 1851
    WWW: http://www.essexsavings.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 13145
    FDIC's unique #: 11285
    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: October 02, 1953
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 35 Plains Road, Essex, CT 6426
    County: Middlesex
    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
    Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278)
    Core Based Statistical Area (CBSA): Hartford-West Hartford-East Hartford, CT (#25540)
    CBSA Metro Statistical Area: Hartford-West Hartford-East Hartford, CT (#25540)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $299.2 mil
    Equity capital: $36.9 mil
    Deposits held in domestic offices: $236.1 mil
    Return on assets (ROA): 0.66% ($2.0 mil)
    Quarterly return on assets: 0.63% ($1.9 mil)
    Return on Equity (ROE): 5.42% ($2.0 mil)
    Quarterly return on equity: 5.11% ($1.9 mil)
    Net income: $2.0 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.14% ($3,410.6 mil)
    Quarterly Pretax return on assets: 1.10% ($3,291.0 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
  • 116Total employees (full-time equivalent)
  • $299,179Total assets
  • $56,907Cash and due from depository institutions
  • $53,226Interest-bearing balances
  • $6,347Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $218,945Net loans & leases
  • $2,042Loan loss allowance
  • $0Trading account assets
  • $7,741Bank premises and fixed assets
  • $327Other real estate owned
  • $0Goodwill and other intangibles
  • $299,179Life insurance assets
  • $8,912All other assets
  • $261,924Total liabilities and capital
  • $236,103Total liabilities
  • $189,407Total deposits
  • $236,103Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,259Trading liabilities
  • $0Other borrowed funds
  • $6,562Subordinated debt
  • $37,255All other liabilities
  • $36,913Total equity capital
  • $36,913Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $800Surplus
  • $36,113Undivided profits
  • Memoranda
  • $342Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,258Income earned, not collected on loans
  • $0Earning assets
  • $850Long-term assets (5+ years)
  • $278,518Average Assets, year-to-date
  • $145,988Average Assets, quarterly
  • $295,528Volatile liabilities
  • $298,318Insider loans
  • $166,751FHLB advances
  • $298,238Loans and leases held for sale
  • $1,159Unused loan commitments
  • $494Tier 1 (core) risk-based capital
  • $38,762Tier 2 risk-based capital
  • $665Total risk weighted assets
  • $0Total unused commitments
  • $32,058Restructured Loans and leases
  • $1,367Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,287Total interest income
  • $3,260Total interest expense
  • $9,027Net interest income
  • $120Provision for loan and lease losses
  • $16,912Total noninterest income
  • $1,044Fiduciary activities
  • $229Service charges on deposit accounts
  • $0Trading account gains & fees
  • $15,639Additional noninterest income
  • $22,445Total noninterest expense
  • $15,409Salaries and employee benefits
  • $1,458Premises and equipment expense
  • $5,578Additional noninterest expense
  • $3,374Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,409Applicable income taxes
  • $1,965Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,965Net income attributable to bank
  • $0Net charge-offs
  • $1,965Cash dividends
  • $171Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.48%Yield on earning assets
  • 1.19%Cost of funding earning assets
  • 3.29%Net interest margin
  • 6.17%Noninterest income to earning assets
  • 8.19%Noninterest expense to earning assets
  • 0.66%Net operating income to assets
  • 0.66%Return on assets (ROA)
  • 1.14%Pretax return on assets
  • 5.42%Return on equity (ROE)
  • 5.42%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 70.18%Credit loss provision to net charge-offs
  • 20.43%Efficiency ratio
  • 86,530Assets per employee
  • 2.58%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.92%Loss allowance to noncurrent loans
  • 38.84%Noncurrent assets plus other real estate owned to assets
  • 1.87%Noncurrent loans to loans
  • 2.38%Net loans and leases to deposits
  • 92.73%Net loans and leases to core deposits
  • 94.97%Equity capital to assets
  • 12.34%Core capital (leverage) ratio
  • 13.00%Tier 1 risk-based capital ratio
  • 23.25%Total risk-based capital ratio
  • Memoranda
  • $24Average assets
  • $295,528Average earning assets
  • $36,230Average equity
  • $274,172Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $180,020Managed Assets
  • 1Number of Accounts
  • $175,716Personal trust and agency accounts
  • $161,304Employee benefit-defined contribution accounts
  • $6,681Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $7,731Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 373Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $4,304Other retirement accounts
  • $4,304Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 5 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011285Essex Savings Bank35 Plains Road, Essex, CT 6426August 06, 1851Full Service Brick and Mortar
    1241199Old Saybrook Branch155 Main Street, Old Saybrook, CT 6475December 23, 1957Full Service Brick and Mortar
    2241200Old Lyme Branch101 Halls Road, Old Lyme, CT 6371July 10, 1976Full Service Brick and Mortar
    3241201Main Street Branch9 Main Street, Essex, CT 6426July 02, 1990Full Service Brick and Mortar
    4499528Madison Branch99 Durham Road, Madison, CT 6443December 14, 2009Full Service Brick and Mortar

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