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

This bank is inactive as of January 01, 2002

  • First Massachusetts Bank, National Association in Worcester, Massachusetts (MA)
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First Massachusetts Bank, National Association - Overview

  • General
  • FDIC Certificate #: 34136
    Status: Inactive
    Closing history: Participated in Absorption/Consolidation/Merger
    Acquiring institution: TD Bank, National Association (#18409)
    Federal Reserve ID: 2388917
    Date Established: Febuary 16, 1996
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 104 (Interstate: No)
    OTS Docket #: 14081
    FDIC's unique #: 56279
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: Febuary 16, 1996
    Last Structure Change Effective Date: January 01, 2002
    Last Structure Change Process Date: January 30, 2002
    Last Data Update: January 30, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 370 Main Street, Worcester, MA 1608
    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): Worcester, MA-CT (#9240)
    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)
  • History of Changes
  • Merger - Without Assistance
    Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $6,616.5 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, 2001)

  • Dollar figures in thousands
  • 1,537Total employees (full-time equivalent)
  • $6,616,462Total assets
  • $193,683Cash and due from depository institutions
  • $10Interest-bearing balances
  • $1,151,219Securities
  • $116,128Federal funds sold & reverse repurchase agreements
  • $4,621,139Net loans & leases
  • $62,794Loan loss allowance
  • $0Trading account assets
  • $66,064Bank premises and fixed assets
  • $1,328Other real estate owned
  • $161,689Goodwill and other intangibles
  • $0Life insurance assets
  • $305,212All other assets
  • $6,616,462Total liabilities and capital
  • $6,095,444Total liabilities
  • $4,420,821Total deposits
  • $3,543,440Interest-bearing deposits
  • $4,420,821Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $579,609Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $806,518Other borrowed funds
  • $200,000Subordinated debt
  • $88,496All other liabilities
  • $521,018Total equity capital
  • $521,018Total bank equity capital
  • $521,018Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $293,203Undivided profits
  • Memoranda
  • $227,815Noncurrent loans and leases
  • $1,603,386Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $18,896Earning assets
  • $902Long-term assets (5+ years)
  • $28,804Average Assets, year-to-date
  • $5,888,496Average Assets, quarterly
  • $2,247,022Volatile liabilities
  • $6,228,037Insider loans
  • $6,174,298FHLB advances
  • $954,994Loans and leases held for sale
  • $12,106Unused loan commitments
  • $806,433Tier 1 (core) risk-based capital
  • $172,504Tier 2 risk-based capital
  • $117,674Total risk weighted assets
  • $1,603,386Total unused commitments
  • $0Restructured Loans and leases
  • $237,756Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $424,074Total interest income
  • $204,171Total interest expense
  • $219,903Net interest income
  • $18,070Provision for loan and lease losses
  • $58,777Total noninterest income
  • $2,626Fiduciary activities
  • $23,938Service charges on deposit accounts
  • $0Trading account gains & fees
  • $32,213Additional noninterest income
  • $161,460Total noninterest expense
  • $50,993Salaries and employee benefits
  • $21,066Premises and equipment expense
  • $89,401Additional noninterest expense
  • $99,150Pre-tax net operating income
  • $1,496Securities gains (losses)
  • $33,595Applicable income taxes
  • $67,051Income before extraordinary items
  • -$1,291Extraordinary gains - net
  • $65,760Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $8,288Sale, conversion, retirement of capital stock, net
  • $18,374Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.51%Yield on earning assets
  • 3.61%Cost of funding earning assets
  • 3.89%Net interest margin
  • 1.04%Noninterest income to earning assets
  • 2.86%Noninterest expense to earning assets
  • 1.06%Net operating income to assets
  • 1.06%Return on assets (ROA)
  • 1.60%Pretax return on assets
  • 13.73%Return on equity (ROE)
  • 9.89%Retained earnings to average equity (YTD only)
  • 0.21%Net charge-offs to loans
  • 218.03%Credit loss provision to net charge-offs
  • 14.14%Efficiency ratio
  • 54,561Assets per employee
  • 4.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 27.94%Loss allowance to loans
  • 1.34%Loss allowance to noncurrent loans
  • 332.31%Noncurrent assets plus other real estate owned to assets
  • 0.29%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 104.53%Net loans and leases to core deposits
  • 112.37%Equity capital to assets
  • 7.87%Core capital (leverage) ratio
  • 5.48%Tier 1 risk-based capital ratio
  • 7.28%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $6,228,037Average earning assets
  • $478,889Average equity
  • $5,648,528Average loans

Total Fiduciary and Related Assets (December 31, 2001)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $131,047Managed Assets
  • 1Number of Accounts
  • $126,161Personal trust and agency accounts
  • $102,908Employee benefit-defined contribution accounts
  • $2,666Employee benefit-defined benefit accounts
  • $6,221Other retirement accounts
  • $14,366Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 500Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $4,886Other retirement accounts
  • $784Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $4,102Fiduciary accounts held in foreign offices

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