FDIC Certificate #: 22089 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Eastern Bank (#32773) Federal Reserve ID: 685407 Date Established: April 05, 1872 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 15 (Interstate: No) FDIC's unique #: 15339 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: August 01, 1975 Last Structure Change Effective Date: October 10, 2008 Last Structure Change Process Date: October 21, 2008 Last Data Update: October 21, 2008 Data Source Date: April 05, 2012
Location
Address: 123 Haven Street, Reading, MA 1867 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: $821.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
122Total employees (full-time equivalent)
$801,251Total assets
$6,127Cash and due from depository institutions
$3Interest-bearing balances
$206,328Securities
$74,455Federal funds sold & reverse repurchase agreements
$288,198Net loans & leases
$1,369Loan loss allowance
$206,566Trading account assets
$8,163Bank premises and fixed assets
$0Other real estate owned
$1,090Goodwill and other intangibles
$1,166Life insurance assets
$10,324All other assets
$801,251Total liabilities and capital
$696,889Total liabilities
$687,599Total deposits
$659,701Interest-bearing deposits
$687,599Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$9,290All other liabilities
$104,362Total equity capital
$104,362Total bank equity capital
$104,362Perpetual preferred stock
$0Common stock
$3,450Surplus
$59,786Undivided profits
Memoranda
$41,126Noncurrent loans and leases
$30,868Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$199Earning assets
$27Long-term assets (5+ years)
$3,932Average Assets, year-to-date
$775,550Average Assets, quarterly
$282,970Volatile liabilities
$820,958Insider loans
$808,889FHLB advances
$119,640Loans and leases held for sale
$818Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$30,868Total unused commitments
$0Restructured Loans and leases
$1,966Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$39,801Total interest income
$21,015Total interest expense
$18,786Net interest income
-$10Provision for loan and lease losses
$5,243Total noninterest income
$132Fiduciary activities
$427Service charges on deposit accounts
$346Trading account gains & fees
$4,338Additional noninterest income
$12,560Total noninterest expense
$7,656Salaries and employee benefits
$2,094Premises and equipment expense
$2,810Additional noninterest expense
$11,479Pre-tax net operating income
$272Securities gains (losses)
$4,144Applicable income taxes
$7,607Income before extraordinary items
$0Extraordinary gains - net
$7,607Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$3Sale, conversion, retirement of capital stock, net
$6,700Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.04%Yield on earning assets
2.66%Cost of funding earning assets
2.38%Net interest margin
0.66%Noninterest income to earning assets
1.59%Noninterest expense to earning assets
0.91%Net operating income to assets
0.93%Return on assets (ROA)
1.43%Pretax return on assets
7.44%Return on equity (ROE)
0.89%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
-333.33%Credit loss provision to net charge-offs
3823.00%Efficiency ratio
52,270Assets per employee
6.57%Cash dividends to net income (YTD only)
Condition Ratios (%)
88.08%Loss allowance to loans
0.47%Loss allowance to noncurrent loans
687.94%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.07%Net loans and leases to deposits
41.91%Net loans and leases to core deposits
50.74%Equity capital to assets
13.02%Core capital (leverage) ratio
12.80%Tier 1 risk-based capital ratio
32.89%Total risk-based capital ratio
Memoranda
$34Average assets
$820,958Average earning assets
$102,303Average equity
$790,433Average loans
Total Fiduciary and Related Assets (December 31, 2007)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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