First Trade Union Bank in Boston, Massachusetts (MA), NY, RI
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Trade Union Bank in Boston, Massachusetts (MA), NY, RI
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First Trade Union Bank - Overview

  • General
  • FDIC Certificate #: 32551
    Status: Active
    Federal Reserve ID: 264772
    Date Established: August 26, 1987
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: Yes)
    OTS Docket #: 8433
    FDIC's unique #: 45385
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: August 26, 1987
    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: 1 Harbor St, Ste 102, Boston, MA 2210
    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: $607.6 mil
    Equity capital: $55.5 mil
    Deposits held in domestic offices: $473.6 mil
    Return on assets (ROA): 0.18% ($1.1 mil)
    Quarterly return on assets: 0.01% ($0.1 mil)
    Return on Equity (ROE): 2.05% ($1.1 mil)
    Quarterly return on equity: 0.12% ($0.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.26% ($1,579.7 mil)
    Quarterly Pretax return on assets: 0.21% ($1,275.9 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
  • 73Total employees (full-time equivalent)
  • $607,559Total assets
  • $68,718Cash and due from depository institutions
  • $67,096Interest-bearing balances
  • $120,885Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $381,208Net loans & leases
  • $7,062Loan loss allowance
  • $0Trading account assets
  • $3,826Bank premises and fixed assets
  • $575Other real estate owned
  • $1Goodwill and other intangibles
  • $607,559Life insurance assets
  • $32,346All other assets
  • $552,080Total liabilities and capital
  • $473,632Total liabilities
  • $400,400Total deposits
  • $473,632Interest-bearing deposits
  • $64Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $72,361Trading liabilities
  • $0Other borrowed funds
  • $6,087Subordinated debt
  • $55,479All other liabilities
  • $55,479Total equity capital
  • $55,479Total bank equity capital
  • $0Perpetual preferred stock
  • $348Common stock
  • $58,088Surplus
  • $-2,957Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,990Income earned, not collected on loans
  • $0Earning assets
  • $1,906Long-term assets (5+ years)
  • $569,189Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $611,890Volatile liabilities
  • $607,303Insider loans
  • $359,328FHLB advances
  • $603,216Loans and leases held for sale
  • $13,757Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $51,136Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $26,323Restructured Loans and leases
  • $46Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $25,163Total interest income
  • $6,992Total interest expense
  • $18,171Net interest income
  • $2,169Provision for loan and lease losses
  • $1,091Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,091Additional noninterest income
  • $15,513Total noninterest expense
  • $7,710Salaries and employee benefits
  • $2,061Premises and equipment expense
  • $5,742Additional noninterest expense
  • $1,580Pre-tax net operating income
  • $34Securities gains (losses)
  • $496Applicable income taxes
  • $1,118Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,118Net income attributable to bank
  • $0Net charge-offs
  • $1,118Cash dividends
  • $4,179Sale, conversion, retirement of capital stock, net
  • $22Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.42%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 3.19%Net interest margin
  • 0.19%Noninterest income to earning assets
  • 2.72%Noninterest expense to earning assets
  • 0.18%Net operating income to assets
  • 0.18%Return on assets (ROA)
  • 0.26%Pretax return on assets
  • 2.05%Return on equity (ROE)
  • 2.01%Retained earnings to average equity (YTD only)
  • 1.05%Net charge-offs to loans
  • 51.90%Credit loss provision to net charge-offs
  • 0.90%Efficiency ratio
  • 80,537Assets per employee
  • 8.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 1.97%Loss allowance to loans
  • 1.82%Loss allowance to noncurrent loans
  • 70.69%Noncurrent assets plus other real estate owned to assets
  • 1.74%Noncurrent loans to loans
  • 2.57%Net loans and leases to deposits
  • 80.49%Net loans and leases to core deposits
  • 89.03%Equity capital to assets
  • 9.13%Core capital (leverage) ratio
  • 8.48%Tier 1 risk-based capital ratio
  • 14.23%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $611,890Average earning assets
  • $54,405Average equity
  • $569,368Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    045385First Trade Union Bank1 Harbor St, Ste 102, Boston, MA 2210August 26, 1987Full Service Brick and Mortar
    102461736East Broadway Branch753 East Broadway, Boston, MA 2210October 23, 2001Full Service Brick and Mortar
    105518114Dorchester Ave Branch750 Dorchester Ave, Boston, MA 2125Febuary 22, 2010Full Service Brick and Mortar
  • 2 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    103461737Motor Parkway Branch270 Motor Parkway, Hauppauge, NY 11788May 10, 2006Full Service Brick and Mortar
    104518113Lakevill Rd Branch2020 Lakeville Rd, New Hyde Park, NY 11040March 24, 2010Full Service Brick and Mortar
  • 1 Rhode Island Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    10135646514 Jefferson Avenue Branch14 Jefferson Avenue, Warwick, RI 2888Febuary 16, 1999Full Service Brick and Mortar

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