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



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Fleet National Bank of Massachusetts
GeneralFDIC Certificate #: 19429
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Fleet National Bank (#2499)
Federal Reserve ID: 914808
Date Established: May 06, 1965
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 147 (Interstate: No)
OTS Docket #: 11119
FDIC's unique #: 13232
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: May 06, 1965
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: One Federal Street, Boston, MA 2211
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: $11,239.7 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$3,714
Cash and due from depository institutions$13,867,731
Interest-bearing balances$1,218,898
Securities$8,601
Federal funds sold & reverse repurchase agreements$3,321,256
Net loans & leases$130,000
Loan loss allowance $8,592,312
Trading account assets$186,968
Bank premises and fixed assets$400
Other real estate owned$107,387
Goodwill and other intangibles$275
All other assets$92,847
Life insurance assets$404,356
Total liabilities and capital$0
Total liabilities$13,867,731
Total deposits$12,718,899
Interest-bearing deposits$9,765,225
Deposits held in domestic offices$6,748,569
% insured (estimated)9380967.00%
Federal funds purchased & repurchase agreements $63
Trading liabilities$2,078,328
Other borrowed funds $310
Subordinated debt $590,854
All other liabilities $88,956
Total equity capital$195,226
Total bank equity capital$195,226
Perpetual preferred stock$1,148,832
Common stock$0
Surplus$14,476
Undivided profits $608,239
Memoranda
Noncurrent loans and leases $526,117
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $75,615
Earning assets $54,221
Long-term assets (5+ years) $12,052,169
Average Assets, year-to-date $2,698,555
Average Assets, quarterly $14,270,723
Volatile liabilities $13,696,604
Insider loans $3,434,634
FHLB advances $63,486
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $5,034,994
Tier 2 risk-based capital $0
Total risk weighted assets $1,052,844
Total unused commitments $11,720,737
Restructured Loans and leases $0
Derivatives$3,018,791
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $977,510
Net interest income $481,500
Provision for loan and lease losses $496,010
Total noninterest income -$11,522
Fiduciary activities $165,734
Service charges on deposit accounts $42,341
Trading account gains & fees $59,893
Additional noninterest income $1,299
Total noninterest expense $62,201
Salaries and employee benefits $480,500
Premises and equipment expense $166,602
Additional noninterest expense $57,573
Pre-tax net operating income $256,325
Securities gains (losses) $192,766
Applicable income taxes -$1,762
Income before extraordinary items $59,929
Extraordinary gains - net $131,075
Net income attributable to bank $0
Net charge-offs $131,075
Cash dividends $42,049
Sale, conversion, retirement of capital stock, net $161,200
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 7.71%
Net interest margin 3.80%
Noninterest income to earning assets 3.91%
Noninterest expense to earning assets 1.31%
Net operating income to assets 3.79%
Return on assets (ROA) 0.93%
Pretax return on assets 0.92%
Return on equity (ROE) 1.34%
Retained earnings to average equity (YTD only) 11.27%
Net charge-offs to loans -2.59%
Credit loss provision to net charge-offs 0.48%
Efficiency ratio-27.40%
Assets per employee$71,407
Cash dividends to net income (YTD only)3.73%
Condition Ratios (%)
Loss allowance to loans 122.98%
Loss allowance to noncurrent loans 2.13%
Noncurrent assets plus other real estate owned to assets 247.26%
Noncurrent loans to loans 0.55%
Net loans and leases to deposits0.86%
Net loans and leases to core deposits 87.99%
Equity capital to assets 96.97%
Core capital (leverage) ratio 8.28%
Tier 1 risk-based capital ratio 7.88%
Total risk-based capital ratio 8.98%
Memoranda
Average assets$11
Average earning assets$14,270,723
Average equity $1,162,868
Average loans $12,670,564
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