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


  • Fidelity Co-operative Bank in Fitchburg, Massachusetts (MA)
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Fidelity Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26451
    Status: Active
    Federal Reserve ID: 933377
    Bank Holding Company (Regulatory Top Holder): Fidelity Mutual Holding Company (RSSDID: 3454220, Location: Fitchburg, MA)
    Date Established: January 01, 1888
    WWW: http://www.fidelitybankonline.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 2284
    FDIC's unique #: 33099
    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: December 06, 1985
    Last Structure Change Effective Date: October 24, 2006
    Last Structure Change Process Date: October 24, 2006
    Last Data Update: October 24, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 675 Main Street, Fitchburg, MA 1420
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Fitchburg-Leominster, MA (#2600)
    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): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • Financial Summary
  • Total assets: $517.5 mil
    Equity capital: $42.3 mil
    Deposits held in domestic offices: $398.9 mil
    Return on assets (ROA): 0.50% ($2.6 mil)
    Quarterly return on assets: 0.59% ($3.1 mil)
    Return on Equity (ROE): 6.50% ($2.7 mil)
    Quarterly return on equity: 7.33% ($3.1 mil)
    Net income: $2.6 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.69% ($3,570.9 mil)
    Quarterly Pretax return on assets: 0.83% ($4,295.4 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
  • 109Total employees (full-time equivalent)
  • $517,519Total assets
  • $40,133Cash and due from depository institutions
  • $30,284Interest-bearing balances
  • $88,077Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $352,407Net loans & leases
  • $4,111Loan loss allowance
  • $0Trading account assets
  • $12,224Bank premises and fixed assets
  • $1,031Other real estate owned
  • $1,374Goodwill and other intangibles
  • $517,519Life insurance assets
  • $22,273All other assets
  • $475,262Total liabilities and capital
  • $398,919Total liabilities
  • $377,577Total deposits
  • $398,919Interest-bearing deposits
  • $72Deposits held in domestic offices
  • 3000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $67,800Trading liabilities
  • $0Other borrowed funds
  • $5,543Subordinated debt
  • $42,257All other liabilities
  • $42,257Total equity capital
  • $42,257Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $40,907Surplus
  • $1,349Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $5,549Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,671Income earned, not collected on loans
  • $0Earning assets
  • $2,172Long-term assets (5+ years)
  • $470,768Average Assets, year-to-date
  • $276,405Average Assets, quarterly
  • $520,613Volatile liabilities
  • $520,417Insider loans
  • $300,864FHLB advances
  • $515,302Loans and leases held for sale
  • $9,581Unused loan commitments
  • $4,751Tier 1 (core) risk-based capital
  • $40,429Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,830Total unused commitments
  • $73,353Restructured Loans and leases
  • $1,589Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $22,400Total interest income
  • $4,417Total interest expense
  • $17,983Net interest income
  • $2,429Provision for loan and lease losses
  • $3,413Total noninterest income
  • $0Fiduciary activities
  • $812Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,601Additional noninterest income
  • $15,921Total noninterest expense
  • $8,266Salaries and employee benefits
  • $1,776Premises and equipment expense
  • $5,879Additional noninterest expense
  • $3,046Pre-tax net operating income
  • $531Securities gains (losses)
  • $949Applicable income taxes
  • $2,628Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,628Net income attributable to bank
  • $0Net charge-offs
  • $2,628Cash dividends
  • $2,738Sale, conversion, retirement of capital stock, net
  • $377Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.72%Yield on earning assets
  • 0.93%Cost of funding earning assets
  • 3.79%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 3.36%Noninterest expense to earning assets
  • 0.43%Net operating income to assets
  • 0.50%Return on assets (ROA)
  • 0.69%Pretax return on assets
  • 6.50%Return on equity (ROE)
  • 5.57%Retained earnings to average equity (YTD only)
  • 0.78%Net charge-offs to loans
  • 88.71%Credit loss provision to net charge-offs
  • 2.00%Efficiency ratio
  • 74,411Assets per employee
  • 4.75%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 14.35%Loss allowance to loans
  • 1.15%Loss allowance to noncurrent loans
  • 88.01%Noncurrent assets plus other real estate owned to assets
  • 1.10%Noncurrent loans to loans
  • 1.31%Net loans and leases to deposits
  • 88.34%Net loans and leases to core deposits
  • 94.14%Equity capital to assets
  • 8.17%Core capital (leverage) ratio
  • 7.85%Tier 1 risk-based capital ratio
  • 13.44%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $520,613Average earning assets
  • $40,416Average equity
  • $474,344Average loans

List of branches

  • 8 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033099Fidelity Co-Operative Bank675 Main Street, Fitchburg, MA 1420January 01, 1888Full Service Brick and Mortar
    2259438Leominster Branch29 Main Street, Leominster, MA 1453September 25, 1969Full Service Brick and Mortar
    3259439Millbury Branch97 Elm Street, Millbury, MA 1527November 01, 1976Full Service Brick and Mortar
    4259440Gardner Branch330 Main Street, Gardner, MA 1440April 17, 1984Full Service Brick and Mortar
    533086Shirley Branch21 Main Street, Shirley, MA 1464January 01, 1908Full Service Brick and Mortar
    7433923Worcester Branch465 Shrewsbury Street, Worcester, MA 1604November 01, 2004Full Service Brick and Mortar
    8458839Leominster Connector Branch9 Leominster Connector, Leominster, MA 1453January 16, 2007Full Service Brick and Mortar
    9493064Www.Fideltybankdirect.com Branch9 Leominster Connector, Leominster, MA 1453Febuary 02, 2009Full Service Cyber

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