Florence Savings Bank in Florence, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Florence Savings Bank in Florence, Massachusetts (MA)
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Florence Savings Bank - Overview

  • General
  • FDIC Certificate #: 23293
    Status: Active
    Federal Reserve ID: 279105
    Bank Holding Company (Regulatory Top Holder): Florence Bancorp, Mhc (RSSDID: 3367106, Location: Florence, MA)
    Date Established: Febuary 14, 1873
    WWW: http://www.florencesavings.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    OTS Docket #: 8064
    FDIC's unique #: 16326
    Numeric code: 42
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: January 02, 1981
    Last Structure Change Effective Date: November 30, 2006
    Last Structure Change Process Date: November 30, 2006
    Last Data Update: November 30, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 85 Main Street, Florence, MA 1062
    County: Hampshire
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Core Based Statistical Area (CBSA): Springfield, MA (#44140)
    CBSA Metro Statistical Area: Springfield, MA (#44140)
  • Financial Summary
  • Total assets: $1,088.0 mil
    Equity capital: $92.0 mil
    Deposits held in domestic offices: $825.9 mil
    Return on assets (ROA): 0.55% ($6.0 mil)
    Quarterly return on assets: 0.51% ($5.5 mil)
    Return on Equity (ROE): 6.68% ($6.1 mil)
    Quarterly return on equity: 6.12% ($5.6 mil)
    Net income: $6.0 mil
    Quarterly Net income: $1.4 mil
    Pretax return on assets: 0.85% ($9,247.9 mil)
    Quarterly Pretax return on assets: 0.79% ($8,595.1 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
  • 192Total employees (full-time equivalent)
  • $1,087,990Total assets
  • $34,883Cash and due from depository institutions
  • $9,451Interest-bearing balances
  • $304,227Securities
  • $23Federal funds sold & reverse repurchase agreements
  • $687,145Net loans & leases
  • $5,519Loan loss allowance
  • $0Trading account assets
  • $10,219Bank premises and fixed assets
  • $177Other real estate owned
  • $511Goodwill and other intangibles
  • $1,087,990Life insurance assets
  • $50,805All other assets
  • $995,978Total liabilities and capital
  • $825,879Total liabilities
  • $712,087Total deposits
  • $825,879Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 5204.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $146,652Trading liabilities
  • $0Other borrowed funds
  • $18,243Subordinated debt
  • $92,012All other liabilities
  • $92,012Total equity capital
  • $92,012Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $92,012Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $8,597Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,044Income earned, not collected on loans
  • $622Earning assets
  • $3,275Long-term assets (5+ years)
  • $1,000,846Average Assets, year-to-date
  • $563,789Average Assets, quarterly
  • $1,078,780Volatile liabilities
  • $1,088,470Insider loans
  • $660,851FHLB advances
  • $1,082,594Loans and leases held for sale
  • $20,078Unused loan commitments
  • $13,677Tier 1 (core) risk-based capital
  • $94,305Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $6,401Total unused commitments
  • $147,541Restructured Loans and leases
  • $1,977Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $43,532Total interest income
  • $12,222Total interest expense
  • $31,310Net interest income
  • $1,496Provision for loan and lease losses
  • $7,343Total noninterest income
  • $0Fiduciary activities
  • $2,800Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,543Additional noninterest income
  • $27,699Total noninterest expense
  • $16,105Salaries and employee benefits
  • $2,532Premises and equipment expense
  • $9,062Additional noninterest expense
  • $9,458Pre-tax net operating income
  • -$262Securities gains (losses)
  • $3,226Applicable income taxes
  • $5,970Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,970Net income attributable to bank
  • $0Net charge-offs
  • $5,970Cash dividends
  • $2,102Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.37%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 3.14%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 2.78%Noninterest expense to earning assets
  • 0.57%Net operating income to assets
  • 0.55%Return on assets (ROA)
  • 0.85%Pretax return on assets
  • 6.68%Return on equity (ROE)
  • 6.68%Retained earnings to average equity (YTD only)
  • 0.31%Net charge-offs to loans
  • 71.17%Credit loss provision to net charge-offs
  • 5.21%Efficiency ratio
  • 71,661Assets per employee
  • 5.67%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.80%Loss allowance to noncurrent loans
  • 45.82%Noncurrent assets plus other real estate owned to assets
  • 1.22%Noncurrent loans to loans
  • 1.74%Net loans and leases to deposits
  • 83.20%Net loans and leases to core deposits
  • 88.76%Equity capital to assets
  • 8.46%Core capital (leverage) ratio
  • 8.71%Tier 1 risk-based capital ratio
  • 14.27%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,078,780Average earning assets
  • $89,422Average equity
  • $996,210Average loans

List of branches

  • 10 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016326Florence Savings Bank85 Main Street, Florence, MA 1062Febuary 14, 1873Full Service Brick and Mortar
    1256159Florence Drive-Up Branch69 Main Street, Florence, MA 1062May 13, 1985Limited Service Facility
    2256160King Street Branch176 King Street, Northampton, MA 1060September 18, 1986Full Service Brick and Mortar
    3256161Williamsburg Branch1 Main Street, Williamsburg, MA 1096April 24, 1989Full Service Brick and Mortar
    4256162Northampton Branch58 Main Street, Northampton, MA 1060Febuary 14, 1994Full Service Brick and Mortar
    5256163Hadley Branch355 Russell Street, Hadley, MA 1035August 08, 1995Full Service Brick and Mortar
    635342Easthampton Branch5 Main Street, Easthampton, MA 1027January 01, 1900Full Service Brick and Mortar
    7365670College Street Branch385 College Street, Amherst, MA 1002December 12, 2002Full Service Brick and Mortar
    8425691Belchertown Branch20 George Hannum Street, Belchertown, MA 1007Febuary 02, 2004Full Service Brick and Mortar
    9463800Granby Branch68 Pleasant Street, Granby, MA 1033June 04, 2007Full Service Brick and Mortar

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