Heritage Bank in Watertown, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 12, 1996

  • Heritage Bank in Watertown, Connecticut (CT)
  • Show street view No street view available for this location

Heritage Bank - Overview

  • General
  • FDIC Certificate #: 27386
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Centerbank (#18262)
    Federal Reserve ID: 1225145
    Date Established: November 22, 1988
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    OTS Docket #: 8931
    FDIC's unique #: 39828
    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: November 22, 1988
    Last Structure Change Effective Date: April 12, 1996
    Last Structure Change Process Date: April 18, 1996
    Last Data Update: April 18, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 365 Main Street, Watertown, CT 6795
    County: Litchfield
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Waterbury, CT (#8880)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): Torrington, CT (#45860)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $56.8 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
  • 0Total employees (full-time equivalent)
  • $24Total assets
  • $61,264Cash and due from depository institutions
  • $1,838Interest-bearing balances
  • $98Securities
  • $3,729Federal funds sold & reverse repurchase agreements
  • $8,895Net loans & leases
  • $43,304Loan loss allowance
  • $1,042Trading account assets
  • $0Bank premises and fixed assets
  • $1,790Other real estate owned
  • $1,038Goodwill and other intangibles
  • $670Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $61,264Total liabilities
  • $57,977Total deposits
  • $44,289Interest-bearing deposits
  • $37,844Deposits held in domestic offices
  • 44289.00%% insured (estimated)
  • $95Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $12,716Subordinated debt
  • $0All other liabilities
  • $972Total equity capital
  • $972Total bank equity capital
  • $3,287Perpetual preferred stock
  • $0Common stock
  • $502Surplus
  • $5,864Undivided profits
  • Memoranda
  • $-3,079Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,704Income earned, not collected on loans
  • $257Earning assets
  • $56,026Long-term assets (5+ years)
  • $10,672Average Assets, year-to-date
  • $60,973Average Assets, quarterly
  • $60,330Volatile liabilities
  • $4,829Insider loans
  • $1,620FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $3,286Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $3,294Total risk weighted assets
  • $43,458Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $4,744Total interest expense
  • $2,462Net interest income
  • $2,282Provision for loan and lease losses
  • $556Total noninterest income
  • $455Fiduciary activities
  • $0Service charges on deposit accounts
  • $118Trading account gains & fees
  • $0Additional noninterest income
  • $337Total noninterest expense
  • $2,370Salaries and employee benefits
  • $1,074Premises and equipment expense
  • $159Additional noninterest expense
  • $1,137Pre-tax net operating income
  • -$189Securities gains (losses)
  • $0Applicable income taxes
  • $2Income before extraordinary items
  • -$191Extraordinary gains - net
  • $0Net income attributable to bank
  • -$191Net charge-offs
  • $525Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.56%Cost of funding earning assets
  • 4.44%Net interest margin
  • 4.12%Noninterest income to earning assets
  • 0.82%Noninterest expense to earning assets
  • 4.28%Net operating income to assets
  • -0.31%Return on assets (ROA)
  • -0.31%Pretax return on assets
  • -0.31%Return on equity (ROE)
  • -5.51%Retained earnings to average equity (YTD only)
  • -5.51%Net charge-offs to loans
  • 1.11%Credit loss provision to net charge-offs
  • 105.90%Efficiency ratio
  • 86,591Assets per employee
  • 2.55%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.35%Loss allowance to noncurrent loans
  • 38.54%Noncurrent assets plus other real estate owned to assets
  • 6.11%Noncurrent loans to loans
  • 6.10%Net loans and leases to deposits
  • 97.78%Net loans and leases to core deposits
  • 104.45%Equity capital to assets
  • 5.37%Core capital (leverage) ratio
  • 5.49%Tier 1 risk-based capital ratio
  • 7.58%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $60,973Average earning assets
  • $3,467Average equity
  • $55,396Average loans

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