Everett Co-operative Bank in Everett, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Everett Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26444
    Status: Active
    Federal Reserve ID: 952172
    Date Established: January 01, 1890
    WWW: http://www.everettbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 12018
    FDIC's unique #: 33085
    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: Commercial Lending Specialization
    Date of Deposit Insurance: November 26, 1985
    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: 419 Broadway, Everett, MA 2149
    County: Middlesex
    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: Cambridge-Newton-Framingham, MA (#15764)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $303.2 mil
    Equity capital: $38.8 mil
    Deposits held in domestic offices: $243.1 mil
    Return on assets (ROA): 1.11% ($3.4 mil)
    Quarterly return on assets: 0.97% ($2.9 mil)
    Return on Equity (ROE): 8.86% ($3.5 mil)
    Quarterly return on equity: 7.67% ($3.0 mil)
    Net income: $3.3 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 1.81% ($5,488.1 mil)
    Quarterly Pretax return on assets: 1.58% ($4,790.7 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
  • 36Total employees (full-time equivalent)
  • $303,210Total assets
  • $19,775Cash and due from depository institutions
  • $15,133Interest-bearing balances
  • $19,354Securities
  • $3,164Federal funds sold & reverse repurchase agreements
  • $250,292Net loans & leases
  • $2,220Loan loss allowance
  • $0Trading account assets
  • $1,305Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $303,210Life insurance assets
  • $9,320All other assets
  • $264,459Total liabilities and capital
  • $243,074Total liabilities
  • $223,783Total deposits
  • $243,074Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 1184.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,000Trading liabilities
  • $0Other borrowed funds
  • $1,201Subordinated debt
  • $38,751All other liabilities
  • $38,751Total equity capital
  • $38,751Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $35,586Surplus
  • $3,165Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,314Income earned, not collected on loans
  • $0Earning assets
  • $1,124Long-term assets (5+ years)
  • $287,943Average Assets, year-to-date
  • $95,876Average Assets, quarterly
  • $295,274Volatile liabilities
  • $302,061Insider loans
  • $203,913FHLB advances
  • $299,783Loans and leases held for sale
  • $3,681Unused loan commitments
  • $3,681Tier 1 (core) risk-based capital
  • $38,877Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $42,825Restructured Loans and leases
  • $7,907Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,648Total interest income
  • $3,310Total interest expense
  • $11,338Net interest income
  • $925Provision for loan and lease losses
  • $553Total noninterest income
  • $0Fiduciary activities
  • $325Service charges on deposit accounts
  • $0Trading account gains & fees
  • $228Additional noninterest income
  • $5,613Total noninterest expense
  • $3,362Salaries and employee benefits
  • $386Premises and equipment expense
  • $1,865Additional noninterest expense
  • $5,353Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,062Applicable income taxes
  • $3,291Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,291Net income attributable to bank
  • $0Net charge-offs
  • $3,291Cash dividends
  • $212Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.23%Yield on earning assets
  • 1.18%Cost of funding earning assets
  • 4.05%Net interest margin
  • 0.20%Noninterest income to earning assets
  • 2.01%Noninterest expense to earning assets
  • 1.11%Net operating income to assets
  • 1.11%Return on assets (ROA)
  • 1.81%Pretax return on assets
  • 8.86%Return on equity (ROE)
  • 8.86%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 436.32%Credit loss provision to net charge-offs
  • 29.61%Efficiency ratio
  • 47,204Assets per employee
  • 8.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.88%Loss allowance to noncurrent loans
  • 30.35%Noncurrent assets plus other real estate owned to assets
  • 2.41%Noncurrent loans to loans
  • 2.90%Net loans and leases to deposits
  • 102.97%Net loans and leases to core deposits
  • 120.29%Equity capital to assets
  • 12.78%Core capital (leverage) ratio
  • 12.97%Tier 1 risk-based capital ratio
  • 19.07%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $295,274Average earning assets
  • $37,124Average equity
  • $279,941Average loans

List of branches

  • 1 Massachusetts Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033085Everett Co-Operative Bank419 Broadway, Everett, MA 2149January 01, 1890Full Service Brick and Mortar

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