Mechanics' Co-operative Bank in Taunton, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Mechanics' Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26634
    Status: Active
    Federal Reserve ID: 183770
    Bank Holding Company (Regulatory Top Holder): Mechanics Bancorp, Mhc (RSSDID: 4262347, Location: Taunton, MA)
    Date Established: January 01, 1877
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    FDIC's unique #: 35366
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 17, 1986
    Last Structure Change Effective Date: September 01, 2011
    Last Structure Change Process Date: September 20, 2011
    Last Data Update: September 20, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 308 Bay Street, Taunton, MA 2780
    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): 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): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Participated in Reorganization
    Change in Entity Type
  • Financial Summary
  • Total assets: $386.4 mil
    Equity capital: $30.1 mil
    Deposits held in domestic offices: $340.4 mil
    Return on assets (ROA): 0.18% ($0.7 mil)
    Quarterly return on assets: -0.48% (-$1.9 mil)
    Return on Equity (ROE): 2.25% ($0.7 mil)
    Quarterly return on equity: -6.02% (-$1.8 mil)
    Net income: $0.7 mil
    Quarterly Net income: -$0.5 mil
    Pretax return on assets: 0.25% ($966.0 mil)
    Quarterly Pretax return on assets: -0.75% (-$2,897.9 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, 2011)

  • Dollar figures in thousands
  • 88Total employees (full-time equivalent)
  • $386,387Total assets
  • $7,233Cash and due from depository institutions
  • $1,998Interest-bearing balances
  • $104,525Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $248,472Net loans & leases
  • $2,438Loan loss allowance
  • $0Trading account assets
  • $7,016Bank premises and fixed assets
  • $5,142Other real estate owned
  • $323Goodwill and other intangibles
  • $386,387Life insurance assets
  • $13,676All other assets
  • $356,285Total liabilities and capital
  • $340,361Total liabilities
  • $316,418Total deposits
  • $340,361Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $13,586Trading liabilities
  • $0Other borrowed funds
  • $2,338Subordinated debt
  • $30,102All other liabilities
  • $30,102Total equity capital
  • $30,102Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $30,102Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $186Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,151Income earned, not collected on loans
  • $1,399Earning assets
  • $1,337Long-term assets (5+ years)
  • $354,995Average Assets, year-to-date
  • $110,583Average Assets, quarterly
  • $378,075Volatile liabilities
  • $382,877Insider loans
  • $248,828FHLB advances
  • $381,377Loans and leases held for sale
  • $6,076Unused loan commitments
  • $3,895Tier 1 (core) risk-based capital
  • $28,884Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,181Total unused commitments
  • $41,142Restructured Loans and leases
  • $7,603Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $17,064Total interest income
  • $5,376Total interest expense
  • $11,688Net interest income
  • $1,773Provision for loan and lease losses
  • $1,510Total noninterest income
  • $0Fiduciary activities
  • $777Service charges on deposit accounts
  • $0Trading account gains & fees
  • $733Additional noninterest income
  • $10,448Total noninterest expense
  • $6,035Salaries and employee benefits
  • $890Premises and equipment expense
  • $3,523Additional noninterest expense
  • $977Pre-tax net operating income
  • -$47Securities gains (losses)
  • $248Applicable income taxes
  • $682Income before extraordinary items
  • $0Extraordinary gains - net
  • $682Net income attributable to bank
  • $0Net charge-offs
  • $682Cash dividends
  • $1,996Sale, conversion, retirement of capital stock, net
  • $250Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 3.32%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 2.97%Noninterest expense to earning assets
  • 0.19%Net operating income to assets
  • 0.18%Return on assets (ROA)
  • 0.25%Pretax return on assets
  • 2.25%Return on equity (ROE)
  • 1.43%Retained earnings to average equity (YTD only)
  • 0.82%Net charge-offs to loans
  • 88.83%Credit loss provision to net charge-offs
  • 1.38%Efficiency ratio
  • 79,164Assets per employee
  • 4.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 36.66%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 77.37%Noncurrent assets plus other real estate owned to assets
  • 2.15%Noncurrent loans to loans
  • 1.26%Net loans and leases to deposits
  • 73.00%Net loans and leases to core deposits
  • 83.02%Equity capital to assets
  • 7.79%Core capital (leverage) ratio
  • 7.57%Tier 1 risk-based capital ratio
  • 11.61%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $378,075Average earning assets
  • $30,283Average equity
  • $351,740Average loans

List of branches

  • 8 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    035366Mechanics' Co-Operative Bank308 Bay Street, Taunton, MA 2780January 01, 1877Full Service Brick and Mortar
    2259793Taunton Branch75 County Street, Taunton, MA 2780January 01, 1976Full Service Brick and Mortar
    3444147North Dighton Branch596 Somerset Avenue, North Dighton, MA 2764August 23, 2005Full Service Brick and Mortar
    435240Bridgewater Co-Operative Bank Branch72 Main Street, Bridgewater, MA 2324January 01, 1902Full Service Brick and Mortar
    542894Lafayette Federal Savings Bank Branc60 Bedford Street, Fall River, MA 2720January 01, 1894Full Service Brick and Mortar
    6278471165 State Rd Branch165 State Road, Westport, MA 2790June 30, 1986Full Service Brick and Mortar
    72784721236 County St Branch1236 County Street, Somerset, MA 2726June 30, 1986Full Service Brick and Mortar
    8278473201 Gar Hwy Branch201 Gar Highway, Swansea, MA 2777June 30, 1986Full Service Brick and Mortar

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