Hoosac Bank in North Adams, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Hoosac Bank in North Adams, Massachusetts (MA)
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Hoosac Bank - Overview

  • General
  • FDIC Certificate #: 90253
    Status: Active
    Federal Reserve ID: 97804
    Bank Holding Company (Regulatory Top Holder): Mountainone Financial Partners, Mhc (RSSDID: 2634212, Location: North Adams, MA)
    Date Established: January 01, 1848
    WWW: http://www.hoosacbank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 12401
    FDIC's unique #: 17843
    Numeric code: 41
    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: Commercial Lending Specialization
    Date of Deposit Insurance: July 19, 1985
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 93 Main Street, North Adams, MA 1247
    County: Berkshire
    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): Pittsfield, MA (#38340)
    CBSA Metro Statistical Area: Pittsfield, MA (#38340)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $349.5 mil
    Equity capital: $41.6 mil
    Deposits held in domestic offices: $225.1 mil
    Return on assets (ROA): -0.25% (-$0.9 mil)
    Quarterly return on assets: -2.69% (-$9.4 mil)
    Return on Equity (ROE): -2.05% (-$0.9 mil)
    Quarterly return on equity: -21.90% (-$9.2 mil)
    Net income: -$0.9 mil
    Quarterly Net income: -$2.3 mil
    Pretax return on assets: -0.53% (-$1,852.1 mil)
    Quarterly Pretax return on assets: -4.79% (-$16,738.9 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
  • 56Total employees (full-time equivalent)
  • $349,455Total assets
  • $9,358Cash and due from depository institutions
  • $7,567Interest-bearing balances
  • $104,241Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $193,181Net loans & leases
  • $3,444Loan loss allowance
  • $0Trading account assets
  • $7,646Bank premises and fixed assets
  • $0Other real estate owned
  • $1,965Goodwill and other intangibles
  • $349,455Life insurance assets
  • $33,064All other assets
  • $307,807Total liabilities and capital
  • $225,127Total liabilities
  • $210,090Total deposits
  • $225,127Interest-bearing deposits
  • $78Deposits held in domestic offices
  • 20356.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $56,979Trading liabilities
  • $1,029Other borrowed funds
  • $4,316Subordinated debt
  • $41,648All other liabilities
  • $41,648Total equity capital
  • $41,648Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $4,227Surplus
  • $37,421Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,900Income earned, not collected on loans
  • $75Earning assets
  • $1,218Long-term assets (5+ years)
  • $304,989Average Assets, year-to-date
  • $117,871Average Assets, quarterly
  • $347,845Volatile liabilities
  • $346,954Insider loans
  • $273,126FHLB advances
  • $338,948Loans and leases held for sale
  • $12,251Unused loan commitments
  • $12,251Tier 1 (core) risk-based capital
  • $34,549Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $34,965Restructured Loans and leases
  • $4,229Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,879Total interest income
  • $4,167Total interest expense
  • $8,712Net interest income
  • $3,975Provision for loan and lease losses
  • $9,221Total noninterest income
  • $0Fiduciary activities
  • $323Service charges on deposit accounts
  • $0Trading account gains & fees
  • $8,898Additional noninterest income
  • $14,848Total noninterest expense
  • $7,771Salaries and employee benefits
  • $1,982Premises and equipment expense
  • $5,095Additional noninterest expense
  • -$890Pre-tax net operating income
  • -$963Securities gains (losses)
  • -$980Applicable income taxes
  • -$873Income before extraordinary items
  • $0Extraordinary gains - net
  • -$873Net income attributable to bank
  • $0Net charge-offs
  • -$873Cash dividends
  • $3,862Sale, conversion, retirement of capital stock, net
  • $419Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.24%Yield on earning assets
  • 1.37%Cost of funding earning assets
  • 2.87%Net interest margin
  • 3.04%Noninterest income to earning assets
  • 4.89%Noninterest expense to earning assets
  • -0.07%Net operating income to assets
  • -0.25%Return on assets (ROA)
  • -0.53%Pretax return on assets
  • -2.05%Return on equity (ROE)
  • -3.03%Retained earnings to average equity (YTD only)
  • 2.03%Net charge-offs to loans
  • 102.93%Credit loss provision to net charge-offs
  • 0.80%Efficiency ratio
  • 82,423Assets per employee
  • 6.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -48.00%Loss allowance to loans
  • 1.75%Loss allowance to noncurrent loans
  • 88.31%Noncurrent assets plus other real estate owned to assets
  • 1.37%Noncurrent loans to loans
  • 1.98%Net loans and leases to deposits
  • 85.81%Net loans and leases to core deposits
  • 104.15%Equity capital to assets
  • 11.92%Core capital (leverage) ratio
  • 10.19%Tier 1 risk-based capital ratio
  • 12.65%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $347,845Average earning assets
  • $42,614Average equity
  • $303,585Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $801Managed Assets
  • 1Number of Accounts
  • $801Personal trust and agency accounts
  • $801Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 156Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 2 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017843Hoosac Bank93 Main Street, North Adams, MA 1247January 01, 1848Full Service Brick and Mortar
    1291377Williamstown Branch296 Main Street, Williamstown, MA 1267May 04, 1999Full Service Brick and Mortar

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