Fairfield First Bank & Trust Company in Southport, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 12, 1996

Fairfield First Bank & Trust Company in Southport, Connecticut (CT)
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Fairfield First Bank & Trust Company - Overview

General
FDIC Certificate #: 26431
Status: Inactive
Closing history: Corrections
Acquiring institution: Summit Bank (#17944)
Federal Reserve ID: 699002
Date Established: October 31, 1985
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 33067
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: October 31, 1985
Last Structure Change Effective Date: July 12, 1996
Last Structure Change Process Date: July 17, 1996
Last Data Update: July 17, 1996
Data Source Date: April 05, 2012
Location
Address: 2000 Post Road, Southport, CT 6890
County: Fairfield
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): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
Core Based Statistical Area (CBSA): Bridgeport-Stamford-Norwalk, CT (#14860)
CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $57.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$41Total assets
$63,792Cash and due from depository institutions
$4,180Interest-bearing balances
$120Securities
$6,577Federal funds sold & reverse repurchase agreements
$7,600Net loans & leases
$41,940Loan loss allowance
$3,002Trading account assets
$0Bank premises and fixed assets
$142Other real estate owned
$2,774Goodwill and other intangibles
$579Life insurance assets
$0All other assets
$0Total liabilities and capital
$63,792Total liabilities
$63,545Total deposits
$63,191Interest-bearing deposits
$56,385Deposits held in domestic offices
63191.00%% insured (estimated)
$99Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$354Total equity capital
$354Total bank equity capital
$247Perpetual preferred stock
$3,667Common stock
$78Surplus
$10,318Undivided profits
Memoranda
$-13,816Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$6,582Income earned, not collected on loans
$276Earning assets
$56,237Long-term assets (5+ years)
$7,512Average Assets, year-to-date
$66,861Average Assets, quarterly
$68,616Volatile liabilities
$4,652Insider loans
$422FHLB advances
$0Loans and leases held for sale
$26Unused loan commitments
$2,875Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$242Total risk weighted assets
$45,096Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$4,783Total interest expense
$3,001Net interest income
$1,782Provision for loan and lease losses
$2,504Total noninterest income
$1,411Fiduciary activities
$0Service charges on deposit accounts
$282Trading account gains & fees
$0Additional noninterest income
$1,129Total noninterest expense
$5,589Salaries and employee benefits
$1,870Premises and equipment expense
$552Additional noninterest expense
$3,167Pre-tax net operating income
-$4,900Securities gains (losses)
-$84Applicable income taxes
$5Income before extraordinary items
-$4,989Extraordinary gains - net
$0Net income attributable to bank
-$4,989Net charge-offs
$1,662Cash dividends
$0Sale, conversion, retirement of capital stock, net
$4,733Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.07%Cost of funding earning assets
5.06%Net interest margin
3.01%Noninterest income to earning assets
2.38%Noninterest expense to earning assets
9.43%Net operating income to assets
-7.34%Return on assets (ROA)
-7.46%Pretax return on assets
-7.45%Return on equity (ROE)
-285.15%Retained earnings to average equity (YTD only)
-285.15%Net charge-offs to loans
3.40%Credit loss provision to net charge-offs
150.66%Efficiency ratio
175,039Assets per employee
1.56%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
6.68%Loss allowance to noncurrent loans
45.61%Noncurrent assets plus other real estate owned to assets
14.67%Noncurrent loans to loans
14.65%Net loans and leases to deposits
66.37%Net loans and leases to core deposits
71.64%Equity capital to assets
0.39%Core capital (leverage) ratio
0.35%Tier 1 risk-based capital ratio
0.54%Total risk-based capital ratio
Memoranda
$1Average assets
$66,861Average earning assets
$1,750Average equity
$59,289Average loans

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