Middlesex Savings Bank in Natick, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Middlesex Savings Bank - Overview

  • General
  • FDIC Certificate #: 90183
    Status: Active
    Federal Reserve ID: 888002
    Bank Holding Company (Regulatory Top Holder): Middlesex Bancorp Mhc (RSSDID: 3932072, Location: Natick, MA)
    Date Established: March 05, 1835
    WWW: http://www.middlesexbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 33 (Domestic: 33, Interstate: No)
    OTS Docket #: 11307
    FDIC's unique #: 17774
    Numeric code: 42
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: November 08, 1985
    Last Structure Change Effective Date: July 01, 2009
    Last Structure Change Process Date: July 16, 2009
    Last Data Update: July 16, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 6 Main Street, Natick, MA 1760
    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)
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $4,034.8 mil
    Equity capital: $437.2 mil
    Deposits held in domestic offices: $3,490.0 mil
    Return on assets (ROA): 0.72% ($29.1 mil)
    Quarterly return on assets: 0.58% ($23.4 mil)
    Return on Equity (ROE): 6.79% ($29.7 mil)
    Quarterly return on equity: 5.34% ($23.3 mil)
    Net income: $29.0 mil
    Quarterly Net income: $5.8 mil
    Pretax return on assets: 1.08% ($43,575.8 mil)
    Quarterly Pretax return on assets: 0.84% ($33,892.3 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, 2011)

  • Dollar figures in thousands
  • 510Total employees (full-time equivalent)
  • $4,034,793Total assets
  • $55,996Cash and due from depository institutions
  • $50Interest-bearing balances
  • $1,582,303Securities
  • $32,873Federal funds sold & reverse repurchase agreements
  • $2,183,824Net loans & leases
  • $43,136Loan loss allowance
  • $0Trading account assets
  • $35,094Bank premises and fixed assets
  • $1,149Other real estate owned
  • $16,258Goodwill and other intangibles
  • $4,034,793Life insurance assets
  • $127,296All other assets
  • $3,597,599Total liabilities and capital
  • $3,490,006Total liabilities
  • $2,892,281Total deposits
  • $3,490,006Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 40759.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $31,757Trading liabilities
  • $0Other borrowed funds
  • $35,077Subordinated debt
  • $437,194All other liabilities
  • $437,194Total equity capital
  • $437,194Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $418,084Surplus
  • $19,110Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $4,177Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $64,834Income earned, not collected on loans
  • $583Earning assets
  • $10,972Long-term assets (5+ years)
  • $3,799,050Average Assets, year-to-date
  • $2,017,922Average Assets, quarterly
  • $4,023,510Volatile liabilities
  • $4,033,479Insider loans
  • $2,440,379FHLB advances
  • $3,998,432Loans and leases held for sale
  • $48,756Unused loan commitments
  • $25,950Tier 1 (core) risk-based capital
  • $407,135Tier 2 risk-based capital
  • $15,550Total risk weighted assets
  • $7,256Total unused commitments
  • $574,482Restructured Loans and leases
  • $19,210Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $155,477Total interest income
  • $31,744Total interest expense
  • $123,733Net interest income
  • $9,700Provision for loan and lease losses
  • $11,544Total noninterest income
  • $0Fiduciary activities
  • $3,396Service charges on deposit accounts
  • $0Trading account gains & fees
  • $8,148Additional noninterest income
  • $80,509Total noninterest expense
  • $48,404Salaries and employee benefits
  • $9,563Premises and equipment expense
  • $22,542Additional noninterest expense
  • $45,068Pre-tax net operating income
  • -$1,700Securities gains (losses)
  • $14,370Applicable income taxes
  • $28,998Income before extraordinary items
  • $0Extraordinary gains - net
  • $28,998Net income attributable to bank
  • $0Net charge-offs
  • $28,998Cash dividends
  • $13,968Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.09%Yield on earning assets
  • 0.84%Cost of funding earning assets
  • 3.26%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 2.12%Noninterest expense to earning assets
  • 0.75%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 6.79%Return on equity (ROE)
  • 6.79%Retained earnings to average equity (YTD only)
  • 0.64%Net charge-offs to loans
  • 69.44%Credit loss provision to net charge-offs
  • 3.92%Efficiency ratio
  • 59,298Assets per employee
  • 7.91%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.94%Loss allowance to noncurrent loans
  • 66.53%Noncurrent assets plus other real estate owned to assets
  • 1.64%Noncurrent loans to loans
  • 2.91%Net loans and leases to deposits
  • 62.57%Net loans and leases to core deposits
  • 67.84%Equity capital to assets
  • 10.84%Core capital (leverage) ratio
  • 10.18%Tier 1 risk-based capital ratio
  • 16.68%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $4,023,510Average earning assets
  • $427,036Average equity
  • $3,797,686Average loans

List of branches

  • 33 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017774Middlesex Savings Bank6 Main Street, Natick, MA 1760March 05, 1835Full Service Brick and Mortar
    1291072Shopping Center Branch291 Main Street, Acton, MA 1720Febuary 01, 1960Full Service Brick and Mortar
    2291073West Concord Branch1208 Main Street, West Concord, MA 1742December 01, 1970Full Service Brick and Mortar
    3291074Westford Branch160 Littleton Road, Westford, MA 1886August 22, 1977Full Service Brick and Mortar
    4291075Concord Branch64 Main Street, Concord, MA 1742Febuary 01, 1982Full Service Brick and Mortar
    7291344Ashland Branch2 West Union Street, Ashland, MA 1721Febuary 21, 1978Full Service Brick and Mortar
    817826Maynard Branch17 Nason Street, Maynard, MA 1754March 31, 1904Full Service Brick and Mortar
    10291317Acton Branch577 Massachusetts Avenue, Acton, MA 1720May 21, 1982Full Service Brick and Mortar
    11291318Powdermill Branch72 Powder Mill Road, Maynard, MA 1754November 18, 1985Full Service Brick and Mortar
    12291076Operations Center Branch36 Summer Street, Natick, MA 1760January 01, 1976Limited Service Administrative
    13291077Wayland Branch150 Commonwealth Road, Cochituate, MA 1778January 01, 1976Full Service Brick and Mortar
    14291078Millis Branch24 Milliston Road, Millis, MA 2054August 29, 1988Full Service Brick and Mortar
    15275084Framingham Branch899 Edgell Road, Framingham, MA 1701January 01, 1892Full Service Brick and Mortar
    1617805Hopkinton Branch10 Main Street, Hopkinton, MA 1748January 01, 1867Full Service Brick and Mortar
    17291215Holliston Branch830 Washington Street, Holliston, MA 1746January 01, 1867Full Service Brick and Mortar
    18291079Sudbury Branch454 Boston Post Road, Sudbury, MA 1776Febuary 26, 1996Full Service Brick and Mortar
    19291080Wellesley Branch200 Linden Street, Wellesley, MA 2482January 27, 1997Full Service Brick and Mortar
    20291081Southborough Branch162 Cordaville Road, Southborough, MA 1772May 30, 1998Full Service Brick and Mortar
    21291082Groton Branch112 Boston Road, Groton, MA 1450August 16, 1999Full Service Brick and Mortar
    22291083Medfield Branch495 Main Street, Medfield, MA 2052January 24, 2000Full Service Brick and Mortar
    23357183Home/Phone Banking Branch Informatio120 Flanders Rd, Westborough, MA 1581June 22, 2000Full Service Brick and Mortar
    24358234Littleton Branch308 Great Road, Littleton, MA 1460October 02, 2000Full Service Brick and Mortar
    25365790Needham Branch50 Chestnut Street, Needham, MA 2492December 16, 2002Full Service Brick and Mortar
    26449892Old Connecticut Path Branch235 Old Connecticut Path, Framingham, MA 1701March 13, 2006Full Service Brick and Mortar
    27451216Boxborough Branch629 Massachusetts Avenue, Boxborough, MA 1719January 31, 2006Full Service Brick and Mortar
    28454325Bedford Branch186 Great Road, Bedford, MA 1730August 14, 2006Full Service Brick and Mortar
    29468989Route 9 Framingham Branch598 Worcester Road, Framingham, MA 1702September 24, 2007Full Service Brick and Mortar
    3017828Medway Branch81 Main Street, Medway, MA 2053January 01, 1871Full Service Brick and Mortar
    31291324Millis - Main Branch1098 Main Street, Millis, MA 2054July 14, 1960Full Service Brick and Mortar
    33291326Franklin Branch1000 Franklin Village Drive, Franklin, MA 2038January 30, 1992Full Service Brick and Mortar
    35291329Hopkinton Branch59 Main Street, Hopkinton, MA 1748June 10, 1999Full Service Brick and Mortar
    36291330Bellingham Branch267 Hartford Avenue, Bellingham, MA 2019June 25, 1999Full Service Brick and Mortar
    37291331Milford Branch140 South Main Street, Milford, MA 1757January 13, 2000Full Service Brick and Mortar

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