Luzo Community Bank in New Bedford, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 13, 2007

  • Luzo Community Bank in New Bedford, Massachusetts (MA)
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Luzo Community Bank - Overview

  • General
  • FDIC Certificate #: 22893
    Status: Inactive
    Closing history: Participated in Reorganization
    Acquiring institution: BankFive (#23286)
    Federal Reserve ID: 230508
    Date Established: March 14, 1979
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 16002
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 02, 1979
    Last Structure Change Effective Date: July 13, 2007
    Last Structure Change Process Date: October 01, 2007
    Last Data Update: October 01, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 160 County Street, New Bedford, MA 2740
    County: Bristol
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): New Bedford, MA (#5400)
    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): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Merger - Without Assistance
    Participated in Reorganization
  • Financial Summary
  • Total assets: $67.4 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
  • 29Total employees (full-time equivalent)
  • $65,993Total assets
  • $15,871Cash and due from depository institutions
  • $9,500Interest-bearing balances
  • $3,115Securities
  • $2,792Federal funds sold & reverse repurchase agreements
  • $42,407Net loans & leases
  • $730Loan loss allowance
  • $0Trading account assets
  • $1,062Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $746All other assets
  • $65,993Total liabilities and capital
  • $58,638Total liabilities
  • $58,464Total deposits
  • $44,070Interest-bearing deposits
  • $58,464Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $56Other borrowed funds
  • $0Subordinated debt
  • $118All other liabilities
  • $7,355Total equity capital
  • $7,355Total bank equity capital
  • $7,355Perpetual preferred stock
  • $0Common stock
  • $854Surplus
  • $602Undivided profits
  • Memoranda
  • $5,899Noncurrent loans and leases
  • $2,788Noncurrent 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)
  • $237Average Assets, year-to-date
  • $57,814Average Assets, quarterly
  • $9,317Volatile liabilities
  • $68,633Insider loans
  • $67,576FHLB advances
  • $7,174Loans and leases held for sale
  • $844Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,788Total unused commitments
  • $0Restructured Loans and leases
  • $490Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $3,878Total interest income
  • $892Total interest expense
  • $2,986Net interest income
  • $0Provision for loan and lease losses
  • $183Total noninterest income
  • $0Fiduciary activities
  • $150Service charges on deposit accounts
  • $0Trading account gains & fees
  • $33Additional noninterest income
  • $2,026Total noninterest expense
  • $1,106Salaries and employee benefits
  • $411Premises and equipment expense
  • $509Additional noninterest expense
  • $1,143Pre-tax net operating income
  • $38Securities gains (losses)
  • $473Applicable income taxes
  • $708Income before extraordinary items
  • $0Extraordinary gains - net
  • $708Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $23Sale, conversion, retirement of capital stock, net
  • $444Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.44%Yield on earning assets
  • 1.48%Cost of funding earning assets
  • 4.96%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 3.37%Noninterest expense to earning assets
  • 1.00%Net operating income to assets
  • 1.03%Return on assets (ROA)
  • 1.72%Pretax return on assets
  • 9.80%Return on equity (ROE)
  • 3.66%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 49.70%Efficiency ratio
  • 63,932Assets per employee
  • 2.28%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 62.71%Loss allowance to loans
  • 1.69%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
  • 72.54%Net loans and leases to core deposits
  • 82.68%Equity capital to assets
  • 11.15%Core capital (leverage) ratio
  • 10.89%Tier 1 risk-based capital ratio
  • 18.91%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $68,633Average earning assets
  • $7,222Average equity
  • $60,182Average loans

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