First New London Savings and Loan Association Incorporated in New London, Connecticut (CT)

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First New London Savings and Loan Association Incorporated
GeneralFDIC Certificate #: 29519
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Liberty Bank (#17943)
Federal Reserve ID: 567978
Date Established: January 01, 1914
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3585
FDIC's unique #: 42353
Numeric code: 36
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: Yes
Date of Deposit Insurance: August 19, 1952
Last Structure Change Effective Date: November 01, 1997
Last Structure Change Process Date: December 29, 1997
Last Data Update: December 29, 1997
Data Source Date: April 05, 2012
LocationAddress: 61 Bank Street, New London, CT 6320
County: New London
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Hartford
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): New London-Norwich, CT-RI (#5520)
Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
Financial SummaryTotal assets: $27.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$4
Cash and due from depository institutions$29,738
Interest-bearing balances$3,658
Federal funds sold & reverse repurchase agreements$1,944
Net loans & leases$0
Loan loss allowance $23,385
Trading account assets$587
Bank premises and fixed assets$0
Other real estate owned$92
Goodwill and other intangibles$118
All other assets$0
Life insurance assets$541
Total liabilities and capital$0
Total liabilities$29,738
Total deposits$27,394
Interest-bearing deposits$27,318
Deposits held in domestic offices$27,114
% insured (estimated)27318.00%
Federal funds purchased & repurchase agreements $98
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $30
All other liabilities $0
Total equity capital$46
Total bank equity capital$46
Perpetual preferred stock$2,344
Common stock$0
Undivided profits $0
Noncurrent loans and leases $2,344
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,365
Earning assets $202
Long-term assets (5+ years) $28,613
Average Assets, year-to-date $0
Average Assets, quarterly $30,233
Volatile liabilities $29,939
Insider loans $2,673
FHLB advances $247
Loans and leases held for sale $30
Unused loan commitments $0
Tier 1 (core) risk-based capital $105
Tier 2 risk-based capital $0
Total risk weighted assets $2,344
Total unused commitments $15,749
Restructured Loans and leases $0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $2,399
Net interest income $1,387
Provision for loan and lease losses $1,012
Total noninterest income -$27
Fiduciary activities $49
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $49
Salaries and employee benefits $744
Premises and equipment expense $317
Additional noninterest expense $119
Pre-tax net operating income $308
Securities gains (losses) $344
Applicable income taxes $0
Income before extraordinary items $140
Extraordinary gains - net $204
Net income attributable to bank $0
Net charge-offs $204
Cash dividends $154
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.21%
Net interest margin 4.74%
Noninterest income to earning assets 3.46%
Noninterest expense to earning assets 0.17%
Net operating income to assets 2.55%
Return on assets (ROA) 0.67%
Pretax return on assets 0.67%
Return on equity (ROE) 1.14%
Retained earnings to average equity (YTD only) 9.02%
Net charge-offs to loans 9.02%
Credit loss provision to net charge-offs 0.61%
Efficiency ratio-17.53%
Assets per employee$70,123
Cash dividends to net income (YTD only)7.43%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.45%
Noncurrent assets plus other real estate owned to assets 23.44%
Noncurrent loans to loans 4.99%
Net loans and leases to deposits5.76%
Net loans and leases to core deposits 85.60%
Equity capital to assets 94.77%
Core capital (leverage) ratio 7.88%
Tier 1 risk-based capital ratio 7.88%
Total risk-based capital ratio 14.88%
Average assets$16
Average earning assets$30,233
Average equity $2,261
Average loans $29,232
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