Mt. Washington Co-operative Bank in South Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 04, 2010

  • Mt. Washington Co-operative Bank in South Boston, Massachusetts (MA)
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Mt. Washington Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26552
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: East Boston Savings Bank (#33510)
    Federal Reserve ID: 1017274
    Date Established: January 01, 1893
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 7 (Interstate: No)
    OTS Docket #: 11856
    FDIC's unique #: 35244
    Numeric code: 42
    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: Febuary 07, 1986
    Last Structure Change Effective Date: January 04, 2010
    Last Structure Change Process Date: January 27, 2010
    Last Data Update: January 27, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 430 West Broadway, South Boston, MA 2127
    County: Suffolk
    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: Boston-Quincy, MA (#14484)
  • Financial Summary
  • Total assets: $496.2 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, 2009)

  • Dollar figures in thousands
  • 116Total employees (full-time equivalent)
  • $496,194Total assets
  • $20,839Cash and due from depository institutions
  • $3,100Interest-bearing balances
  • $77,671Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $354,946Net loans & leases
  • $4,421Loan loss allowance
  • $0Trading account assets
  • $14,987Bank premises and fixed assets
  • $2,234Other real estate owned
  • $0Goodwill and other intangibles
  • $8,939Life insurance assets
  • $25,517All other assets
  • $496,194Total liabilities and capital
  • $464,586Total liabilities
  • $385,676Total deposits
  • $353,204Interest-bearing deposits
  • $385,676Deposits held in domestic offices
  • 76.90%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $77,000Other borrowed funds
  • $0Subordinated debt
  • $1,910All other liabilities
  • $31,608Total equity capital
  • $31,608Total bank equity capital
  • $31,608Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $35,558Undivided profits
  • Memoranda
  • $-3,950Noncurrent loans and leases
  • $28,304Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $10,341Earning assets
  • $0Long-term assets (5+ years)
  • $1,499Average Assets, year-to-date
  • $435,717Average Assets, quarterly
  • $164,926Volatile liabilities
  • $511,810Insider loans
  • $498,664FHLB advances
  • $109,636Loans and leases held for sale
  • $1,215Unused loan commitments
  • $77,000Tier 1 (core) risk-based capital
  • $5,041Tier 2 risk-based capital
  • $5,204Total risk weighted assets
  • $28,304Total unused commitments
  • $2,320Restructured Loans and leases
  • $4,421Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $25,440Total interest income
  • $9,878Total interest expense
  • $15,562Net interest income
  • $2,254Provision for loan and lease losses
  • $3,184Total noninterest income
  • $0Fiduciary activities
  • $1,415Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,769Additional noninterest income
  • $19,569Total noninterest expense
  • $8,332Salaries and employee benefits
  • $2,738Premises and equipment expense
  • $8,499Additional noninterest expense
  • -$3,077Pre-tax net operating income
  • $310Securities gains (losses)
  • -$295Applicable income taxes
  • -$2,472Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,472Net income attributable to bank
  • $0Net charge-offs
  • -$2,472Cash dividends
  • $1,155Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.59%Yield on earning assets
  • 2.17%Cost of funding earning assets
  • 3.42%Net interest margin
  • 0.70%Noninterest income to earning assets
  • 4.30%Noninterest expense to earning assets
  • -0.54%Net operating income to assets
  • -0.48%Return on assets (ROA)
  • -0.54%Pretax return on assets
  • -7.74%Return on equity (ROE)
  • -7.74%Retained earnings to average equity (YTD only)
  • 0.31%Net charge-offs to loans
  • 195.15%Credit loss provision to net charge-offs
  • -0.71%Efficiency ratio
  • 104,390Assets per employee
  • 4.28%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.23%Loss allowance to noncurrent loans
  • 42.75%Noncurrent assets plus other real estate owned to assets
  • 2.53%Noncurrent loans to loans
  • 2.88%Net loans and leases to deposits
  • 92.03%Net loans and leases to core deposits
  • 122.80%Equity capital to assets
  • 6.37%Core capital (leverage) ratio
  • 6.68%Tier 1 risk-based capital ratio
  • 5.43%Total risk-based capital ratio
  • Memoranda
  • $6Average assets
  • $511,810Average earning assets
  • $31,936Average equity
  • $455,268Average loans

Total Fiduciary and Related Assets (December 31, 2009)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,674Managed Assets
  • 1Number of Accounts
  • $1,674Personal trust and agency accounts
  • $1,674Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 195Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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