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

Show street view No street view available for this location
Table of contents:
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
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
Undivided profits $608,239
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
Back to page top, Back to table top

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
Back to page top, Back to table top

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%
Average assets$11
Average earning assets$14,270,723
Average equity $1,162,868
Average loans $12,670,564
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Fleet National Bank of Massachusetts.
Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.