Ipswich Co-operative Bank in Ipswich, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 2007

  • Ipswich Co-operative Bank in Ipswich, Massachusetts (MA)
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Ipswich Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26452
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Institution for Savings in Newburyport and Its Vicinity (#90250)
    Federal Reserve ID: 159476
    Date Established: January 01, 1913
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 2 (Interstate: No)
    OTS Docket #: 10951
    FDIC's unique #: 33100
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: December 12, 1985
    Last Structure Change Effective Date: July 01, 2007
    Last Structure Change Process Date: July 16, 2007
    Last Data Update: July 16, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 2-8 Depot Square, Ipswich, MA 1938
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Peabody, MA (#37764)
  • Financial Summary
  • Total assets: $253.7 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, 2006)

  • Dollar figures in thousands
  • 22Total employees (full-time equivalent)
  • $240,297Total assets
  • $15,241Cash and due from depository institutions
  • $12,276Interest-bearing balances
  • $37,526Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $176,551Net loans & leases
  • $935Loan loss allowance
  • $0Trading account assets
  • $3,822Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $2,174Life insurance assets
  • $7,157All other assets
  • $240,297Total liabilities and capital
  • $223,688Total liabilities
  • $177,152Total deposits
  • $170,904Interest-bearing deposits
  • $177,152Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $981Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $44,487Other borrowed funds
  • $0Subordinated debt
  • $1,068All other liabilities
  • $16,609Total equity capital
  • $16,609Total bank equity capital
  • $16,609Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $16,609Noncurrent loans and leases
  • $21,908Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $0Long-term assets (5+ years)
  • $1,147Average Assets, year-to-date
  • $226,353Average Assets, quarterly
  • $118,108Volatile liabilities
  • $226,544Insider loans
  • $239,507FHLB advances
  • $61,770Loans and leases held for sale
  • $1,299Unused loan commitments
  • $44,487Tier 1 (core) risk-based capital
  • $130Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $21,908Total unused commitments
  • $0Restructured Loans and leases
  • $935Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $12,289Total interest income
  • $6,942Total interest expense
  • $5,347Net interest income
  • $120Provision for loan and lease losses
  • $352Total noninterest income
  • $0Fiduciary activities
  • $191Service charges on deposit accounts
  • $0Trading account gains & fees
  • $161Additional noninterest income
  • $3,625Total noninterest expense
  • $2,011Salaries and employee benefits
  • $285Premises and equipment expense
  • $1,329Additional noninterest expense
  • $1,954Pre-tax net operating income
  • $304Securities gains (losses)
  • $744Applicable income taxes
  • $1,514Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,514Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.73%Yield on earning assets
  • 3.24%Cost of funding earning assets
  • 2.49%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 1.69%Noninterest expense to earning assets
  • 0.58%Net operating income to assets
  • 0.67%Return on assets (ROA)
  • 1.00%Pretax return on assets
  • 9.69%Return on equity (ROE)
  • 9.69%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 63,608Assets per employee
  • 10.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.53%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 99.66%Net loans and leases to core deposits
  • 141.40%Equity capital to assets
  • 6.91%Core capital (leverage) ratio
  • 7.08%Tier 1 risk-based capital ratio
  • 11.93%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $226,544Average earning assets
  • $15,624Average equity
  • $214,449Average loans

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