Fleet Bank of Massachusetts, National Association in Boston, Massachusetts (MA)



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Fleet Bank of Massachusetts, National Association
GeneralFDIC Certificate #: 26305
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fleet National Bank (#2499)
Federal Reserve ID: 88503
Date Established: July 01, 1985
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 190 (Interstate: No)
FDIC's unique #: 32730
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: July 01, 1985
Last Structure Change Effective Date: April 01, 1996
Last Structure Change Process Date: April 11, 1996
Last Data Update: April 11, 1996
Data Source Date: April 05, 2012
LocationAddress: 75 State Street, Boston, MA 2109
County: Suffolk
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: South 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)
Financial SummaryTotal assets: $10,166.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$1,780
Cash and due from depository institutions$11,037,136
Interest-bearing balances$868,888
Securities$59
Federal funds sold & reverse repurchase agreements$1,745,182
Net loans & leases$887,825
Loan loss allowance $6,721,257
Trading account assets$161,555
Bank premises and fixed assets$195,513
Other real estate owned$132,284
Goodwill and other intangibles$6,654
All other assets$263,861
Life insurance assets$215,672
Total liabilities and capital$0
Total liabilities$11,037,136
Total deposits$9,944,915
Interest-bearing deposits$8,659,417
Deposits held in domestic offices$6,727,894
% insured (estimated)7729718.00%
Federal funds purchased & repurchase agreements $79
Trading liabilities$679,264
Other borrowed funds $156,522
Subordinated debt $267,105
All other liabilities $0
Total equity capital$182,607
Total bank equity capital$182,607
Perpetual preferred stock$1,092,221
Common stock$0
Surplus$15,000
Undivided profits $923,174
Memoranda
Noncurrent loans and leases $154,047
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $91,650
Earning assets $48,770
Long-term assets (5+ years) $9,364,323
Average Assets, year-to-date $1,815,479
Average Assets, quarterly $10,449,305
Volatile liabilities $10,744,018
Insider loans $2,304,544
FHLB advances $67,012
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $4,020,383
Tier 2 risk-based capital $0
Total risk weighted assets $827,919
Total unused commitments $8,811,179
Restructured Loans and leases $0
Derivatives$11,196,350
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $791,608
Net interest income $299,793
Provision for loan and lease losses $491,815
Total noninterest income $32,597
Fiduciary activities $133,358
Service charges on deposit accounts $35,436
Trading account gains & fees $58,315
Additional noninterest income $19,093
Total noninterest expense $20,514
Salaries and employee benefits $387,324
Premises and equipment expense $89,208
Additional noninterest expense $38,022
Pre-tax net operating income $260,094
Securities gains (losses) $205,252
Applicable income taxes $11,807
Income before extraordinary items $93,587
Extraordinary gains - net $123,472
Net income attributable to bank $0
Net charge-offs $123,472
Cash dividends $23,261
Sale, conversion, retirement of capital stock, net $183,000
Net operating income $0
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.87%
Net interest margin 3.36%
Noninterest income to earning assets 5.51%
Noninterest expense to earning assets 1.49%
Net operating income to assets 4.34%
Return on assets (ROA) 1.11%
Pretax return on assets 1.18%
Return on equity (ROE) 2.08%
Retained earnings to average equity (YTD only) 12.19%
Net charge-offs to loans -5.88%
Credit loss provision to net charge-offs 0.35%
Efficiency ratio140.14%
Assets per employee$56,430
Cash dividends to net income (YTD only)6.20%
Condition Ratios (%)
Loss allowance to loans 148.21%
Loss allowance to noncurrent loans 2.35%
Noncurrent assets plus other real estate owned to assets 176.27%
Noncurrent loans to loans 0.89%
Net loans and leases to deposits1.33%
Net loans and leases to core deposits 77.62%
Equity capital to assets 92.10%
Core capital (leverage) ratio 9.90%
Tier 1 risk-based capital ratio 8.24%
Total risk-based capital ratio 9.40%
Memoranda
Average assets$11
Average earning assets$10,449,305
Average equity $1,012,977
Average loans $8,927,843
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