Granite Savings Bank and Trust Company in Barre, Vermont (VT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 23, 2000

Granite Savings Bank and Trust Company in Barre, Vermont (VT)
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Granite Savings Bank and Trust Company - Overview

General
FDIC Certificate #: 14143
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Howard Bank, National Association (#6267)
Federal Reserve ID: 247805
Date Established: April 13, 1885
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 9445
FDIC's unique #: 8832
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: March 31, 1934
Last Structure Change Effective Date: June 23, 2000
Last Structure Change Process Date: August 07, 2000
Last Data Update: August 07, 2000
Data Source Date: April 05, 2012
Location
Address: 36 North Main Street, Barre, VT 5641
County: Washington
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): Barre, VT (#12740)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $139.9 mil

1992 - 1999 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, 1999)

Dollar figures in thousands
24Total employees (full-time equivalent)
$140,832Total assets
$3,908Cash and due from depository institutions
$92Interest-bearing balances
$43,849Securities
$0Federal funds sold & reverse repurchase agreements
$86,716Net loans & leases
$1,551Loan loss allowance
$0Trading account assets
$610Bank premises and fixed assets
$438Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$5,311All other assets
$140,832Total liabilities and capital
$130,768Total liabilities
$102,922Total deposits
$89,072Interest-bearing deposits
$102,922Deposits held in domestic offices
0.00%% insured (estimated)
$7,976Federal funds purchased & repurchase agreements
$0Trading liabilities
$19,016Other borrowed funds
$0Subordinated debt
$854All other liabilities
$10,064Total equity capital
$10,064Total bank equity capital
$10,064Perpetual preferred stock
$0Common stock
$300Surplus
$3,709Undivided profits
Memoranda
$6,055Noncurrent loans and leases
$23,614Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$371Earning assets
$40Long-term assets (5+ years)
$547Average Assets, year-to-date
$130,657Average Assets, quarterly
$47,616Volatile liabilities
$143,083Insider loans
$143,036FHLB advances
$28,125Loans and leases held for sale
$3,592Unused loan commitments
$0Tier 1 (core) risk-based capital
$15,000Tier 2 risk-based capital
$0Total risk weighted assets
$23,614Total unused commitments
$0Restructured Loans and leases
$1,222Derivatives

Income and Expense (December 31, 1999)

Dollar figures in thousands
$10,205Total interest income
$4,947Total interest expense
$5,258Net interest income
$305Provision for loan and lease losses
$697Total noninterest income
$0Fiduciary activities
$331Service charges on deposit accounts
$3Trading account gains & fees
$363Additional noninterest income
$3,295Total noninterest expense
$1,103Salaries and employee benefits
$423Premises and equipment expense
$1,769Additional noninterest expense
$2,355Pre-tax net operating income
$28Securities gains (losses)
$635Applicable income taxes
$1,748Income before extraordinary items
$0Extraordinary gains - net
$1,748Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$119Sale, conversion, retirement of capital stock, net
$660Net operating income

Performance and Condition Ratios (December 31, 1999)

Dollar figures in thousands
Performance Ratios (%, annualized)
7.68%Yield on earning assets
3.72%Cost of funding earning assets
3.96%Net interest margin
0.52%Noninterest income to earning assets
2.48%Noninterest expense to earning assets
1.21%Net operating income to assets
1.22%Return on assets (ROA)
1.67%Pretax return on assets
17.56%Return on equity (ROE)
10.93%Retained earnings to average equity (YTD only)
0.13%Net charge-offs to loans
256.30%Credit loss provision to net charge-offs
22.35%Efficiency ratio
55,248Assets per employee
5.87%Cash dividends to net income (YTD only)
Condition Ratios (%)
37.76%Loss allowance to loans
1.76%Loss allowance to noncurrent loans
418.06%Noncurrent assets plus other real estate owned to assets
0.26%Noncurrent loans to loans
0.42%Net loans and leases to deposits
84.25%Net loans and leases to core deposits
87.81%Equity capital to assets
7.15%Core capital (leverage) ratio
7.47%Tier 1 risk-based capital ratio
10.99%Total risk-based capital ratio
Memoranda
$12Average assets
$143,083Average earning assets
$9,956Average equity
$132,927Average loans

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