Liberty Bank and Trust Company in Boston, Massachusetts (MA)



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Liberty Bank and Trust Company
GeneralFDIC Certificate #: 19485
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: General Bank (#23083)
Federal Reserve ID: 985602
Date Established: September 08, 1965
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 13285
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: September 08, 1965
Last Structure Change Effective Date: March 01, 2002
Last Structure Change Process Date: April 08, 2002
Last Data Update: April 08, 2002
Data Source Date: April 05, 2012
LocationAddress: 21 Milk Street, Boston, MA 2109
County: Suffolk
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: Boston-Quincy, MA (#14484)
Financial SummaryTotal assets: $37.1 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, 2001)
(Dollar figures in thousands)
Total employees (full-time equivalent)13
Total assets$37,143
Cash and due from depository institutions$1,144
Interest-bearing balances$0
Securities$5,246
Federal funds sold & reverse repurchase agreements$8,710
Net loans & leases$21,468
Loan loss allowance $425
Trading account assets$0
Bank premises and fixed assets$177
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$398
Life insurance assets$0
Total liabilities and capital$37,143
Total liabilities$30,808
Total deposits$30,385
Interest-bearing deposits$21,694
Deposits held in domestic offices$30,385
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $259
Subordinated debt $0
All other liabilities $164
Total equity capital$6,335
Total bank equity capital$6,335
Perpetual preferred stock$6,335
Common stock$0
Surplus$586
Undivided profits $1,016
Memoranda
Noncurrent loans and leases $4,733
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,234
Income earned, not collected on loans $0
Earning assets $4
Long-term assets (5+ years) $0
Average Assets, year-to-date $248
Average Assets, quarterly $35,424
Volatile liabilities $3,530
Insider loans $37,504
FHLB advances $37,260
Loans and leases held for sale $5,663
Unused loan commitments $1,425
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $3,234
Restructured Loans and leases $0
Derivatives$329
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Income and Expense (December 31, 2001)
(Dollar figures in thousands)
Total interest income $2,929
Total interest expense $665
Net interest income $2,264
Provision for loan and lease losses $15
Total noninterest income $397
Fiduciary activities $0
Service charges on deposit accounts $274
Trading account gains & fees $0
Additional noninterest income $123
Total noninterest expense $1,648
Salaries and employee benefits $824
Premises and equipment expense $343
Additional noninterest expense $481
Pre-tax net operating income $998
Securities gains (losses) $54
Applicable income taxes $368
Income before extraordinary items $684
Extraordinary gains - net $0
Net income attributable to bank $684
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$1
Net operating income $0
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Performance and Condition Ratios (December 31, 2001)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets8.32%
Cost of funding earning assets 1.89%
Net interest margin 6.43%
Noninterest income to earning assets 1.13%
Noninterest expense to earning assets 4.68%
Net operating income to assets 1.73%
Return on assets (ROA) 1.82%
Pretax return on assets 2.81%
Return on equity (ROE) 11.33%
Retained earnings to average equity (YTD only) 11.33%
Net charge-offs to loans -0.00%
Credit loss provision to net charge-offs -1500.00%
Efficiency ratio0.00%
Assets per employee$61,932
Cash dividends to net income (YTD only)2.86%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 10625.00%
Noncurrent loans to loans 0.01%
Net loans and leases to deposits0.02%
Net loans and leases to core deposits 70.65%
Equity capital to assets 85.94%
Core capital (leverage) ratio 17.06%
Tier 1 risk-based capital ratio 15.96%
Total risk-based capital ratio 23.72%
Memoranda
Average assets$25
Average earning assets$37,504
Average equity $6,037
Average loans $35,200
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