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


Farmington Bank - Overview

  • General
  • FDIC Certificate #: 18208
    Status: Active
    Federal Reserve ID: 1009804
    Bank Holding Company (Regulatory Top Holder): First Connecticut Bancorp, Inc. (RSSDID: 3407598, Location: Farmington, CT)
    Date Established: August 01, 1851
    WWW: http://www.farmingtonbankct.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 21 (Domestic: 21, Interstate: No)
    OTS Docket #: 8442
    FDIC's unique #: 12128
    Numeric code: 41
    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: July 01, 1960
    Last Structure Change Effective Date: September 15, 2009
    Last Structure Change Process Date: October 20, 2009
    Last Data Update: October 20, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 32 Main Street, Farmington, CT 6032
    County: Hartford
    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): Hartford, CT (#3280)
    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
  • Name Change
  • Financial Summary
  • Total assets: $1,615.5 mil
    Equity capital: $176.4 mil
    Deposits held in domestic offices: $1,256.2 mil
    Return on assets (ROA): 0.03% ($0.5 mil)
    Quarterly return on assets: -0.36% (-$5.8 mil)
    Return on Equity (ROE): 0.33% ($0.6 mil)
    Quarterly return on equity: -3.30% (-$5.8 mil)
    Net income: $0.5 mil
    Quarterly Net income: -$1.5 mil
    Pretax return on assets: 0.02% ($323.1 mil)
    Quarterly Pretax return on assets: -0.58% (-$9,370.1 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
  • 299Total employees (full-time equivalent)
  • $1,615,541Total assets
  • $90,596Cash and due from depository institutions
  • $58,745Interest-bearing balances
  • $138,147Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,296,421Net loans & leases
  • $17,533Loan loss allowance
  • $0Trading account assets
  • $21,277Bank premises and fixed assets
  • $302Other real estate owned
  • $497Goodwill and other intangibles
  • $1,615,541Life insurance assets
  • $68,301All other assets
  • $1,439,163Total liabilities and capital
  • $1,256,222Total liabilities
  • $1,053,239Total deposits
  • $1,256,222Interest-bearing deposits
  • $73Deposits held in domestic offices
  • 85466.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $63,000Trading liabilities
  • $0Other borrowed funds
  • $34,475Subordinated debt
  • $176,378All other liabilities
  • $176,378Total equity capital
  • $176,378Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $83,964Surplus
  • $92,414Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,039Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $15,501Income earned, not collected on loans
  • $0Earning assets
  • $4,184Long-term assets (5+ years)
  • $1,493,313Average Assets, year-to-date
  • $603,543Average Assets, quarterly
  • $1,580,314Volatile liabilities
  • $1,654,991Insider loans
  • $1,214,416FHLB advances
  • $1,654,253Loans and leases held for sale
  • $30,383Unused loan commitments
  • $15,931Tier 1 (core) risk-based capital
  • $181,550Tier 2 risk-based capital
  • $5,007Total risk weighted assets
  • $9,445Total unused commitments
  • $268,412Restructured Loans and leases
  • $1,221Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $58,968Total interest income
  • $10,958Total interest expense
  • $48,010Net interest income
  • $4,090Provision for loan and lease losses
  • $5,670Total noninterest income
  • $0Fiduciary activities
  • $1,730Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,940Additional noninterest income
  • $49,336Total noninterest expense
  • $28,505Salaries and employee benefits
  • $8,581Premises and equipment expense
  • $12,250Additional noninterest expense
  • $254Pre-tax net operating income
  • $89Securities gains (losses)
  • -$140Applicable income taxes
  • $483Income before extraordinary items
  • $0Extraordinary gains - net
  • $483Net income attributable to bank
  • $0Net charge-offs
  • $483Cash dividends
  • $7,291Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.98%Yield on earning assets
  • 0.74%Cost of funding earning assets
  • 3.24%Net interest margin
  • 0.38%Noninterest income to earning assets
  • 3.33%Noninterest expense to earning assets
  • 0.02%Net operating income to assets
  • 0.03%Return on assets (ROA)
  • 0.02%Pretax return on assets
  • 0.33%Return on equity (ROE)
  • 0.33%Retained earnings to average equity (YTD only)
  • 0.60%Net charge-offs to loans
  • 56.10%Credit loss provision to net charge-offs
  • 0.60%Efficiency ratio
  • 91,908Assets per employee
  • 5.40%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.33%Loss allowance to noncurrent loans
  • 113.11%Noncurrent assets plus other real estate owned to assets
  • 0.98%Noncurrent loans to loans
  • 1.18%Net loans and leases to deposits
  • 103.20%Net loans and leases to core deposits
  • 107.10%Equity capital to assets
  • 10.92%Core capital (leverage) ratio
  • 10.97%Tier 1 risk-based capital ratio
  • 14.95%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $1,580,314Average earning assets
  • $145,517Average equity
  • $1,481,438Average loans

List of branches

  • 21 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012128Farmington Bank32 Main Street, Farmington, CT 6032August 01, 1851Full Service Brick and Mortar
    1244301Westwoods OfficeRoutes 6 And 177, Farmington, CT 6032Febuary 14, 1966Full Service Brick and Mortar
    2244302Unionville Branch1845 Farmington Avenue, Unionville, CT 6085October 01, 1954Full Service Brick and Mortar
    3244303Westfarms Mall Branch550 South Rd, Farmington, CT 6032September 30, 1978Full Service Brick and Mortar
    4244304Avon Branch427 West Avon Road, Avon, CT 6001May 20, 1989Full Service Brick and Mortar
    5244305Burlington Green Branch253 Spielman Highway, Burlington, CT 6013October 16, 1993Full Service Brick and Mortar
    6244306Avon Branch310 West Main Street, Avon, CT 6001November 09, 1996Full Service Brick and Mortar
    7244307Bristol Branch475 Broad Street, Bristol, CT 6010December 07, 1998Full Service Brick and Mortar
    8359748East Street Branch117 East Street, Plainville, CT 6062March 24, 2001Full Service Brick and Mortar
    9363832Gables Retirement Community Branch20 Devonwood Drive, Farmington, CT 6032June 06, 2002Limited Service Mobile
    10364233Village Gate Branch88 Scott Swamp Road, Farmington, CT 6032July 02, 2002Limited Service Mobile
    11423085Southington BranchOne Center Street, Southington, CT 6489August 16, 2003Full Service Brick and Mortar
    12424196Village Square BranchOne Farm Glen Boulevard, Farmington, CT 6032December 12, 2003
    13433919Farmington Avenue Branch962 Farmington Avenue, West Hartford, CT 6107November 29, 2004Full Service Brick and Mortar
    14445281Southington Drive-In Branch17 Center Place, Southington, CT 6489October 13, 2005Limited Service Facility
    15463075New Britain Branch73 Broad Street, New Britain, CT 6053May 14, 2007Full Service Brick and Mortar
    16507781Glastonbury Branch669 Hebron Avenue, Glastonbury, CT 6033April 15, 2010Full Service Brick and Mortar
    17510117New Britain Avenue Branch129 New Britain Avenue, Plainville, CT 6062June 15, 2010Full Service Brick and Mortar
    18513434Berlin Branch1191 Farmington Avenue, Berlin, CT 6037October 19, 2010Full Service Brick and Mortar
    19518493West Hartford Branch176l Newington Road, West Hartford, CT 6110April 05, 2011Full Service Brick and Mortar
    20527550Wethersfield Branch486 Silas Deane Highway, Wethersfield, CT 6109December 15, 2011Full Service Brick and Mortar

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