First Commons Bank, National Association - Overview
General
FDIC Certificate #: 58923 Status: Active Federal Reserve ID: 3955053 Date Established: July 22, 2009 WWW:http://www.firstcommonsbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 480295 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: July 22, 2009 Last Structure Change Effective Date: July 22, 2009 Last Structure Change Process Date: July 31, 2009 Last Data Update: July 31, 2009 Data Source Date: April 05, 2012
Location
Address: 718 Beacon Street, Newton Center, MA 2459 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 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
Change in Location
Change in FED-RSSD-ID
Change in Geographic Region/Area/Territory/Field Office
New Institution
Financial Summary
Total assets: $168.8 mil Equity capital: $18.4 mil Deposits held in domestic offices: $149.4 mil Return on assets (ROA): -1.86% (-$3.1 mil) Quarterly return on assets: -0.75% (-$1.3 mil) Return on Equity (ROE): -14.39% (-$2.6 mil) Quarterly return on equity: -6.53% (-$1.2 mil) Net income: -$2.6 mil Quarterly Net income: -$0.3 mil Pretax return on assets: -1.86% (-$3,139.8 mil) Quarterly Pretax return on assets: -0.75% (-$1,266.1 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
28Total employees (full-time equivalent)
$168,809Total assets
$4,849Cash and due from depository institutions
$3,649Interest-bearing balances
$26,958Securities
$0Federal funds sold & reverse repurchase agreements
$132,780Net loans & leases
$1,188Loan loss allowance
$0Trading account assets
$1,844Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$168,809Life insurance assets
$2,378All other assets
$150,377Total liabilities and capital
$149,445Total liabilities
$142,891Total deposits
$149,445Interest-bearing deposits
$83Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$932Subordinated debt
$18,432All other liabilities
$18,432Total equity capital
$18,432Total bank equity capital
$0Perpetual preferred stock
$25Common stock
$26,431Surplus
$-8,024Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$280Income earned, not collected on loans
$0Earning assets
$478Long-term assets (5+ years)
$163,387Average Assets, year-to-date
$66,936Average Assets, quarterly
$137,848Volatile liabilities
$160,541Insider loans
$116,112FHLB advances
$158,625Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$18,432Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$13,882Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,500Total interest income
$1,360Total interest expense
$4,140Net interest income
$1,165Provision for loan and lease losses
$48Total noninterest income
$0Fiduciary activities
$38Service charges on deposit accounts
$0Trading account gains & fees
$10Additional noninterest income
$5,592Total noninterest expense
$3,047Salaries and employee benefits
$719Premises and equipment expense
$1,826Additional noninterest expense
-$2,569Pre-tax net operating income
$9Securities gains (losses)
$0Applicable income taxes
-$2,560Income before extraordinary items
$0Extraordinary gains - net
-$2,560Net income attributable to bank
$0Net charge-offs
-$2,560Cash dividends
$470Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.13%Yield on earning assets
1.02%Cost of funding earning assets
3.11%Net interest margin
0.04%Noninterest income to earning assets
4.20%Noninterest expense to earning assets
-1.86%Net operating income to assets
-1.86%Return on assets (ROA)
-1.86%Pretax return on assets
-14.39%Return on equity (ROE)
-14.39%Retained earnings to average equity (YTD only)
0.49%Net charge-offs to loans
247.87%Credit loss provision to net charge-offs
-2.99%Efficiency ratio
133,524Assets per employee
6.03%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.89%Loss allowance to noncurrent loans
424.29%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.21%Net loans and leases to deposits
88.85%Net loans and leases to core deposits
107.74%Equity capital to assets
10.92%Core capital (leverage) ratio
11.62%Tier 1 risk-based capital ratio
15.87%Total risk-based capital ratio
Memoranda
$17Average assets
$137,848Average earning assets
$17,787Average equity
$133,098Average loans
List of branches
1 Massachusetts Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
480295
First Commons Bank, National Association
718 Beacon Street, Newton Center, MA 2459
July 22, 2009
Full Service Brick and Mortar
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