FDIC Certificate #: 26510 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Butler Bank (#26619) Federal Reserve ID: 329578 Date Established: January 01, 1890 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 12918 FDIC's unique #: 33212 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: January 22, 1986 Last Structure Change Effective Date: November 10, 2008 Last Structure Change Process Date: November 26, 2008 Last Data Update: November 26, 2008 Data Source Date: April 05, 2012
Location
Address: 175 Main Street, Marlborough, MA 1752 County: Middlesex 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: Cambridge-Newton-Framingham, MA (#15764)
Financial Summary
Total assets: $86.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
22Total employees (full-time equivalent)
$79,953Total assets
$1,064Cash and due from depository institutions
$106Interest-bearing balances
$21,596Securities
$0Federal funds sold & reverse repurchase agreements
$49,600Net loans & leases
$225Loan loss allowance
$0Trading account assets
$2,757Bank premises and fixed assets
$0Other real estate owned
$84Goodwill and other intangibles
$2,146Life insurance assets
$4,852All other assets
$79,953Total liabilities and capital
$71,347Total liabilities
$61,706Total deposits
$59,447Interest-bearing deposits
$61,706Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$9,136Other borrowed funds
$0Subordinated debt
$505All other liabilities
$8,606Total equity capital
$8,606Total bank equity capital
$8,606Perpetual preferred stock
$0Common stock
$100Surplus
$0Undivided profits
Memoranda
$8,506Noncurrent loans and leases
$10,576Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$19Earning assets
$0Long-term assets (5+ years)
$403Average Assets, year-to-date
$71,302Average Assets, quarterly
$39,696Volatile liabilities
$81,424Insider loans
$80,148FHLB advances
$21,760Loans and leases held for sale
$1,201Unused loan commitments
$9,136Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$10,576Total unused commitments
$0Restructured Loans and leases
$225Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$4,465Total interest income
$2,723Total interest expense
$1,742Net interest income
-$12Provision for loan and lease losses
$57Total noninterest income
$0Fiduciary activities
$144Service charges on deposit accounts
$0Trading account gains & fees
-$87Additional noninterest income
$2,482Total noninterest expense
$1,328Salaries and employee benefits
$322Premises and equipment expense
$832Additional noninterest expense
-$671Pre-tax net operating income
$18Securities gains (losses)
-$281Applicable income taxes
-$372Income before extraordinary items
$0Extraordinary gains - net
-$372Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$28Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.14%Yield on earning assets
3.74%Cost of funding earning assets
2.39%Net interest margin
0.08%Noninterest income to earning assets
3.41%Noninterest expense to earning assets
-0.47%Net operating income to assets
-0.46%Return on assets (ROA)
-0.80%Pretax return on assets
-4.23%Return on equity (ROE)
-4.23%Retained earnings to average equity (YTD only)
0.06%Net charge-offs to loans
-42.86%Credit loss provision to net charge-offs
-24.39%Efficiency ratio
137,966Assets per employee
3.63%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.45%Loss allowance to noncurrent loans
1184.21%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.04%Net loans and leases to deposits
80.38%Net loans and leases to core deposits
110.07%Equity capital to assets
10.76%Core capital (leverage) ratio
10.20%Tier 1 risk-based capital ratio
14.99%Total risk-based capital ratio
Memoranda
$15Average assets
$81,424Average earning assets
$8,793Average equity
$72,772Average loans
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