Legacy Banks in Pittsfield, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 21, 2011

  • Legacy Banks in Pittsfield, Massachusetts (MA)
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Legacy Banks - Overview

  • General
  • FDIC Certificate #: 90265
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Berkshire Bank (#23621)
    Federal Reserve ID: 351207
    Date Established: April 13, 1893
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 20 (Interstate: No)
    OTS Docket #: 6694
    FDIC's unique #: 17855
    Numeric code: 41
    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 06, 1985
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: August 24, 2011
    Last Data Update: August 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 99 North Street, Pittsfield, MA 1201
    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
    Metropolitan Statistical Area (MSA): Pittsfield, MA (#6320)
    Core Based Statistical Area (CBSA): Pittsfield, MA (#38340)
    CBSA Metro Statistical Area: Pittsfield, MA (#38340)
  • Financial Summary
  • Total assets: $879.1 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, 2010)

  • Dollar figures in thousands
  • 173Total employees (full-time equivalent)
  • $904,914Total assets
  • $24,196Cash and due from depository institutions
  • $12,067Interest-bearing balances
  • $173,860Securities
  • $2,381Federal funds sold & reverse repurchase agreements
  • $610,941Net loans & leases
  • $9,010Loan loss allowance
  • $0Trading account assets
  • $19,142Bank premises and fixed assets
  • $2,216Other real estate owned
  • $15,183Goodwill and other intangibles
  • $17,048Life insurance assets
  • $56,995All other assets
  • $904,915Total liabilities and capital
  • $813,202Total liabilities
  • $686,562Total deposits
  • $611,342Interest-bearing deposits
  • $686,562Deposits held in domestic offices
  • 86.71%% insured (estimated)
  • $5,329Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $113,113Other borrowed funds
  • $0Subordinated debt
  • $8,198All other liabilities
  • $91,713Total equity capital
  • $91,713Total bank equity capital
  • $91,713Perpetual preferred stock
  • $0Common stock
  • $5Surplus
  • $54,064Undivided profits
  • Memoranda
  • $37,644Noncurrent loans and leases
  • $115,065Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $12,744Earning assets
  • $166Long-term assets (5+ years)
  • $2,558Average Assets, year-to-date
  • $799,249Average Assets, quarterly
  • $353,063Volatile liabilities
  • $928,873Insider loans
  • $928,411FHLB advances
  • $140,628Loans and leases held for sale
  • $4,536Unused loan commitments
  • $105,388Tier 1 (core) risk-based capital
  • $5,061Tier 2 risk-based capital
  • $3,839Total risk weighted assets
  • $115,065Total unused commitments
  • $1,812Restructured Loans and leases
  • $7,587Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $40,794Total interest income
  • $14,821Total interest expense
  • $25,973Net interest income
  • $10,468Provision for loan and lease losses
  • $5,329Total noninterest income
  • $950Fiduciary activities
  • $1,349Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,030Additional noninterest income
  • $34,441Total noninterest expense
  • $14,797Salaries and employee benefits
  • $3,873Premises and equipment expense
  • $15,771Additional noninterest expense
  • -$13,607Pre-tax net operating income
  • $1,872Securities gains (losses)
  • -$3,974Applicable income taxes
  • -$7,761Income before extraordinary items
  • $0Extraordinary gains - net
  • -$7,761Net income attributable to bank
  • $0Net charge-offs
  • -$7,761Cash dividends
  • $12,547Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.95%Yield on earning assets
  • 1.80%Cost of funding earning assets
  • 3.15%Net interest margin
  • 0.65%Noninterest income to earning assets
  • 4.18%Noninterest expense to earning assets
  • -0.97%Net operating income to assets
  • -0.84%Return on assets (ROA)
  • -1.26%Pretax return on assets
  • -8.52%Return on equity (ROE)
  • -8.52%Retained earnings to average equity (YTD only)
  • 1.93%Net charge-offs to loans
  • 83.43%Credit loss provision to net charge-offs
  • -0.25%Efficiency ratio
  • 107,463Assets per employee
  • 5.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.45%Loss allowance to noncurrent loans
  • 70.70%Noncurrent assets plus other real estate owned to assets
  • 1.65%Noncurrent loans to loans
  • 2.06%Net loans and leases to deposits
  • 88.99%Net loans and leases to core deposits
  • 110.83%Equity capital to assets
  • 10.13%Core capital (leverage) ratio
  • 7.16%Tier 1 risk-based capital ratio
  • 10.74%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $928,873Average earning assets
  • $91,110Average equity
  • $824,416Average loans

Total Fiduciary and Related Assets (December 31, 2010)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $48,513Managed Assets
  • 1Number of Accounts
  • $47,334Personal trust and agency accounts
  • $27,337Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $6,983Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $13,014Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 257Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $1,179Other retirement accounts
  • $801Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $1Fiduciary accounts held in foreign offices

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