Hoosac Bank in North Adams, Massachusetts (MA)



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Hoosac Bank routing number info

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Hoosac Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)56
Total assets$349,455
Cash and due from depository institutions$9,358
Interest-bearing balances$7,567
Securities$104,241
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$193,181
Loan loss allowance $3,444
Trading account assets$0
Bank premises and fixed assets$7,646
Other real estate owned$0
Goodwill and other intangibles$1,965
All other assets$33,064
Life insurance assets$349,455
Total liabilities and capital$307,807
Total liabilities$225,127
Total deposits$210,090
Interest-bearing deposits$225,127
Deposits held in domestic offices$78
% insured (estimated)20356.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$56,979
Other borrowed funds $1,029
Subordinated debt $4,316
All other liabilities $41,648
Total equity capital$41,648
Total bank equity capital$41,648
Perpetual preferred stock$0
Common stock$0
Surplus$4,227
Undivided profits $37,421
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,900
Earning assets $75
Long-term assets (5+ years) $1,218
Average Assets, year-to-date $304,989
Average Assets, quarterly $117,871
Volatile liabilities $347,845
Insider loans $346,954
FHLB advances $273,126
Loans and leases held for sale $338,948
Unused loan commitments $12,251
Tier 1 (core) risk-based capital $12,251
Tier 2 risk-based capital $34,549
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $34,965
Derivatives$4,229
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,879
Total interest expense $4,167
Net interest income $8,712
Provision for loan and lease losses $3,975
Total noninterest income $9,221
Fiduciary activities $0
Service charges on deposit accounts $323
Trading account gains & fees $0
Additional noninterest income $8,898
Total noninterest expense $14,848
Salaries and employee benefits $7,771
Premises and equipment expense $1,982
Additional noninterest expense $5,095
Pre-tax net operating income -$890
Securities gains (losses) -$963
Applicable income taxes -$980
Income before extraordinary items -$873
Extraordinary gains - net $0
Net income attributable to bank -$873
Net charge-offs $0
Cash dividends -$873
Sale, conversion, retirement of capital stock, net $3,862
Net operating income $419
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.24%
Cost of funding earning assets 1.37%
Net interest margin 2.87%
Noninterest income to earning assets 3.04%
Noninterest expense to earning assets 4.89%
Net operating income to assets -0.07%
Return on assets (ROA) -0.25%
Pretax return on assets -0.53%
Return on equity (ROE) -2.05%
Retained earnings to average equity (YTD only) -3.03%
Net charge-offs to loans 2.03%
Credit loss provision to net charge-offs 102.93%
Efficiency ratio0.80%
Assets per employee$82,423
Cash dividends to net income (YTD only)6.24%
Condition Ratios (%)
Loss allowance to loans -48.00%
Loss allowance to noncurrent loans 1.75%
Noncurrent assets plus other real estate owned to assets 88.31%
Noncurrent loans to loans 1.37%
Net loans and leases to deposits1.98%
Net loans and leases to core deposits 85.81%
Equity capital to assets 104.15%
Core capital (leverage) ratio 11.92%
Tier 1 risk-based capital ratio 10.19%
Total risk-based capital ratio 12.65%
Memoranda
Average assets$14
Average earning assets$347,845
Average equity $42,614
Average loans $303,585
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$801
Number of Accounts1
Personal trust and agency accounts$801
Employee benefit-defined contribution accounts$801
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts156
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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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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