First Federal Savings Bank of Boston in Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Federal Savings Bank of Boston in Boston, Massachusetts (MA)
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First Federal Savings Bank of Boston - Overview

  • General
  • FDIC Certificate #: 29656
    Status: Active
    Federal Reserve ID: 402275
    Date Established: January 01, 1933
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 3835
    FDIC's unique #: 42490
    Numeric code: 33
    Regulator: OCC
    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: No
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: May 09, 1936
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 19 School St, Boston, MA 2108
    County: Suffolk
    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): Boston, MA-NH (#1120)
    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: Boston-Quincy, MA (#14484)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $74.3 mil
    Equity capital: $12.8 mil
    Deposits held in domestic offices: $52.4 mil
    Return on assets (ROA): -0.56% (-$0.4 mil)
    Quarterly return on assets: 0.10% ($0.1 mil)
    Return on Equity (ROE): -3.44% (-$0.4 mil)
    Quarterly return on equity: 0.56% ($0.1 mil)
    Net income: -$0.5 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: -0.50% (-$371.4 mil)
    Quarterly Pretax return on assets: 0.18% ($133.7 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, 2011)

  • Dollar figures in thousands
  • 102Total employees (full-time equivalent)
  • $74,285Total assets
  • $3,262Cash and due from depository institutions
  • $18Interest-bearing balances
  • $5Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $57,519Net loans & leases
  • $435Loan loss allowance
  • $0Trading account assets
  • $2,249Bank premises and fixed assets
  • $284Other real estate owned
  • $8,788Goodwill and other intangibles
  • $74,287Life insurance assets
  • $2,178All other assets
  • $61,482Total liabilities and capital
  • $52,388Total liabilities
  • $37,427Total deposits
  • $52,388Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,927Trading liabilities
  • $0Other borrowed funds
  • $1,167Subordinated debt
  • $12,805All other liabilities
  • $12,805Total equity capital
  • $12,805Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $5,727Surplus
  • $7,077Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,198Income earned, not collected on loans
  • $0Earning assets
  • $170Long-term assets (5+ years)
  • $57,542Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $82,375Volatile liabilities
  • $73,096Insider loans
  • $40,114FHLB advances
  • $72,714Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,234Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $36,425Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,608Total interest income
  • $571Total interest expense
  • $2,037Net interest income
  • $0Provision for loan and lease losses
  • $1,227Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,227Additional noninterest income
  • $12,006Total noninterest expense
  • $9,205Salaries and employee benefits
  • $1,415Premises and equipment expense
  • $1,386Additional noninterest expense
  • -$8,742Pre-tax net operating income
  • $8,327Securities gains (losses)
  • $44Applicable income taxes
  • -$459Income before extraordinary items
  • $0Extraordinary gains - net
  • -$459Net income attributable to bank
  • $0Net charge-offs
  • -$459Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $1,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.99%Yield on earning assets
  • 0.87%Cost of funding earning assets
  • 3.12%Net interest margin
  • 1.88%Noninterest income to earning assets
  • 18.37%Noninterest expense to earning assets
  • -10.67%Net operating income to assets
  • -0.56%Return on assets (ROA)
  • -0.50%Pretax return on assets
  • -3.44%Return on equity (ROE)
  • -10.94%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 367,831Assets per employee
  • 0.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -217.86%Loss allowance to loans
  • 0.75%Loss allowance to noncurrent loans
  • 19.79%Noncurrent assets plus other real estate owned to assets
  • 3.34%Noncurrent loans to loans
  • 3.79%Net loans and leases to deposits
  • 109.79%Net loans and leases to core deposits
  • 148.42%Equity capital to assets
  • 17.24%Core capital (leverage) ratio
  • 15.45%Tier 1 risk-based capital ratio
  • 28.01%Total risk-based capital ratio
  • Memoranda
  • $29Average assets
  • $82,375Average earning assets
  • $13,339Average equity
  • $65,356Average loans

List of branches

  • 1 Massachusetts Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042490First Federal Savings Bank Of Boston19 School St, Boston, MA 2108January 01, 1933Full Service Brick and Mortar

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