First Essex Bank in city_name, state_name - Detailed Financial Reports, Location

First Essex Bank in Lawrence, Massachusetts (MA)
Show street view No street view available for this location

First Essex Bank - Overview

General
FDIC Certificate #: 90219
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Sovereign Bank, National Association (#29950)
Federal Reserve ID: 908003
Date Established: March 15, 1847
WWW: http://www.firstessex.com
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 20 (Interstate: No)
OTS Docket #: 8472
FDIC's unique #: 17809
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
FDIC Insured: Yes
Insured Savings Institution: Yes
State Chartered: Yes
Date of Deposit Insurance: July 02, 1985
Last Structure Change Effective Date: Febuary 06, 2004
Last Structure Change Process Date: March 04, 2004
Last Data Update: March 04, 2004
Data Source Date: April 05, 2012
Location
Address: 290-296 Essex Street, Lawrence, MA 1842
County: Essex
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
Metropolitan Statistical Area (MSA): Lawrence, MA-NH (#4160)
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): Boston-Cambridge-Quincy, MA-NH (#14460)
CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
Core Based Statistical Division: Peabody, MA (#37764)
Financial Summary
Total assets: $1,748.7 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, 2003)

Dollar figures in thousands
304Total employees (full-time equivalent)
$1,748,686Total assets
$54,479Cash and due from depository institutions
$18,041Interest-bearing balances
$390,800Securities
$4,650Federal funds sold & reverse repurchase agreements
$1,201,158Net loans & leases
$15,017Loan loss allowance
$0Trading account assets
$7,722Bank premises and fixed assets
$0Other real estate owned
$13,995Goodwill and other intangibles
$0Life insurance assets
$75,882All other assets
$1,748,686Total liabilities and capital
$1,564,658Total liabilities
$1,300,932Total deposits
$1,131,353Interest-bearing deposits
$1,300,932Deposits held in domestic offices
0.00%% insured (estimated)
$43,321Federal funds purchased & repurchase agreements
$0Trading liabilities
$208,339Other borrowed funds
$0Subordinated debt
$12,066All other liabilities
$184,028Total equity capital
$184,028Total bank equity capital
$184,028Perpetual preferred stock
$0Common stock
$620Surplus
$81,469Undivided profits
Memoranda
$101,939Noncurrent loans and leases
$219,943Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,843Earning assets
$0Long-term assets (5+ years)
$6,842Average Assets, year-to-date
$1,614,649Average Assets, quarterly
$562,895Volatile liabilities
$1,761,610Insider loans
$1,747,659FHLB advances
$278,827Loans and leases held for sale
$5Unused loan commitments
$208,339Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,336Total risk weighted assets
$219,943Total unused commitments
$0Restructured Loans and leases
$15,017Derivatives

Income and Expense (December 31, 2003)

Dollar figures in thousands
$98,920Total interest income
$30,724Total interest expense
$68,196Net interest income
$8,832Provision for loan and lease losses
$9,987Total noninterest income
$0Fiduciary activities
$4,739Service charges on deposit accounts
$0Trading account gains & fees
$5,248Additional noninterest income
$38,721Total noninterest expense
$21,464Salaries and employee benefits
$5,084Premises and equipment expense
$12,173Additional noninterest expense
$30,630Pre-tax net operating income
$0Securities gains (losses)
$11,353Applicable income taxes
$19,277Income before extraordinary items
$0Extraordinary gains - net
$19,277Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$8,267Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2003)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.12%Yield on earning assets
1.90%Cost of funding earning assets
4.22%Net interest margin
0.62%Noninterest income to earning assets
2.40%Noninterest expense to earning assets
1.09%Net operating income to assets
1.09%Return on assets (ROA)
1.74%Pretax return on assets
11.41%Return on equity (ROE)
11.41%Retained earnings to average equity (YTD only)
0.69%Net charge-offs to loans
106.83%Credit loss provision to net charge-offs
4.77%Efficiency ratio
47,865Assets per employee
5.75%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.23%Loss allowance to noncurrent loans
528.21%Noncurrent assets plus other real estate owned to assets
0.16%Noncurrent loans to loans
0.23%Net loans and leases to deposits
92.33%Net loans and leases to core deposits
104.36%Equity capital to assets
10.52%Core capital (leverage) ratio
9.76%Tier 1 risk-based capital ratio
12.09%Total risk-based capital ratio
Memoranda
$13Average assets
$1,761,610Average earning assets
$169,009Average equity
$1,615,596Average loans

First Essex Bank in Lawrence, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Essex Bank - Overview

Assets and Liabilities (December 31, 2003)

Income and Expense (December 31, 2003)

Performance and Condition Ratios (December 31, 2003)

Comment about this bank, ask questions, or add new information about it:

First Essex Bank in Lawrence, Massachusetts (MA)Overview, Financial Summary, Detailed Financial Reports, Branches

First Essex Bank - Overview

Assets and Liabilities (December 31, 2003)

Income and Expense (December 31, 2003)

Performance and Condition Ratios (December 31, 2003)

Comment about this bank, ask questions, or add new information about it:

First Essex Bank in Lawrence, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches