First Commons Bank, National Association in Newton Center, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Commons Bank, National Association in Newton Center, Massachusetts (MA)
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First Commons Bank, National Association - Overview

  • General
  • FDIC Certificate #: 58923
    Status: Active
    Federal Reserve ID: 3955053
    Date Established: July 22, 2009
    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
  • NoIDNameAddressEstablishedService TypeMap
    0480295First Commons Bank, National Association718 Beacon Street, Newton Center, MA 2459July 22, 2009Full Service Brick and Mortar

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