First New London Savings and Loan Association Incorporated in New London, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 01, 1997

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 - Overview

General
FDIC 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
Location
Address: 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 Summary
Total 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
0Total employees (full-time equivalent)
$4Total assets
$29,738Cash and due from depository institutions
$3,658Interest-bearing balances
$3,284Securities
$1,944Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$23,385Loan loss allowance
$587Trading account assets
$0Bank premises and fixed assets
$92Other real estate owned
$118Goodwill and other intangibles
$541Life insurance assets
$0All other assets
$0Total liabilities and capital
$29,738Total liabilities
$27,394Total deposits
$27,318Interest-bearing deposits
$27,114Deposits held in domestic offices
27318.00%% insured (estimated)
$98Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$30Subordinated debt
$0All other liabilities
$46Total equity capital
$46Total bank equity capital
$2,344Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$2,344Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,365Income earned, not collected on loans
$202Earning assets
$28,613Long-term assets (5+ years)
$0Average Assets, year-to-date
$30,233Average Assets, quarterly
$29,939Volatile liabilities
$2,673Insider loans
$247FHLB advances
$30Loans and leases held for sale
$0Unused loan commitments
$105Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,344Total risk weighted assets
$15,749Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$2,399Total interest expense
$1,387Net interest income
$1,012Provision for loan and lease losses
-$27Total noninterest income
$49Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$49Total noninterest expense
$744Salaries and employee benefits
$317Premises and equipment expense
$119Additional noninterest expense
$308Pre-tax net operating income
$344Securities gains (losses)
$0Applicable income taxes
$140Income before extraordinary items
$204Extraordinary gains - net
$0Net income attributable to bank
$204Net charge-offs
$154Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.21%Cost of funding earning assets
4.74%Net interest margin
3.46%Noninterest income to earning assets
0.17%Noninterest expense to earning assets
2.55%Net operating income to assets
0.67%Return on assets (ROA)
0.67%Pretax return on assets
1.14%Return on equity (ROE)
9.02%Retained earnings to average equity (YTD only)
9.02%Net charge-offs to loans
0.61%Credit loss provision to net charge-offs
-17.53%Efficiency ratio
70,123Assets per employee
7.43%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.45%Loss allowance to noncurrent loans
23.44%Noncurrent assets plus other real estate owned to assets
4.99%Noncurrent loans to loans
5.76%Net loans and leases to deposits
85.60%Net loans and leases to core deposits
94.77%Equity capital to assets
7.88%Core capital (leverage) ratio
7.88%Tier 1 risk-based capital ratio
14.88%Total risk-based capital ratio
Memoranda
$16Average assets
$30,233Average earning assets
$2,261Average equity
$29,232Average loans

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