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
No
ID
Name
Address
Established
Service Type
Map
0
33085
Everett Co-Operative Bank
419 Broadway, Everett, MA 2149
January 01, 1890
Full Service Brick and Mortar
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