Mutual Federal Savings Bank of Plymouth County in Whitman, Massachusetts (MA)

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Mutual Federal Savings Bank of Plymouth County
GeneralFDIC Certificate #: 29755
Status: Active
Federal Reserve ID: 121679
Date Established: January 01, 1889
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 9 (Domestic: 9, Interstate: No)
OTS Docket #: 4032
FDIC's unique #: 42589
Numeric code: 34
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: December 14, 1936
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 570 Washington St, Whitman, MA 2382
County: Plymouth
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): Brockton, MA (#1200)
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)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $369.9 mil
Equity capital: $34.2 mil
Deposits held in domestic offices: $260.8 mil
Return on assets (ROA): 0.33% ($1.2 mil)
Quarterly return on assets: 0.22% ($0.8 mil)
Return on Equity (ROE): 3.77% ($1.3 mil)
Quarterly return on equity: 2.40% ($0.8 mil)
Net income: $1.3 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.40% ($1,479.5 mil)
Quarterly Pretax return on assets: 0.27% ($998.7 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)
Total employees (full-time equivalent)72
Total assets$369,885
Cash and due from depository institutions$8,319
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$217,880
Loan loss allowance $1,735
Trading account assets$0
Bank premises and fixed assets$10,654
Other real estate owned$458
Goodwill and other intangibles$308
All other assets$18,159
Life insurance assets$369,885
Total liabilities and capital$335,660
Total liabilities$260,811
Total deposits$250,602
Interest-bearing deposits$260,811
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$72,054
Other borrowed funds $0
Subordinated debt $2,795
All other liabilities $34,225
Total equity capital$34,225
Total bank equity capital$34,225
Perpetual preferred stock$0
Common stock$0
Undivided profits $34,225
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,264
Earning assets $0
Long-term assets (5+ years) $1,570
Average Assets, year-to-date $331,987
Average Assets, quarterly $0
Volatile liabilities $376,999
Insider loans $377,781
FHLB advances $208,924
Loans and leases held for sale $368,202
Unused loan commitments $7,665
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $32,542
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $20,638
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,384
Total interest expense $4,989
Net interest income $9,395
Provision for loan and lease losses $1,119
Total noninterest income $3,765
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $3,765
Total noninterest expense $11,611
Salaries and employee benefits $6,453
Premises and equipment expense $2,646
Additional noninterest expense $2,512
Pre-tax net operating income $430
Securities gains (losses) $1,080
Applicable income taxes $259
Income before extraordinary items $1,251
Extraordinary gains - net $0
Net income attributable to bank $1,251
Net charge-offs $0
Cash dividends $1,251
Sale, conversion, retirement of capital stock, net $215
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.25%
Cost of funding earning assets 1.47%
Net interest margin 2.78%
Noninterest income to earning assets 1.11%
Noninterest expense to earning assets 3.43%
Net operating income to assets 0.09%
Return on assets (ROA) 0.33%
Pretax return on assets 0.40%
Return on equity (ROE) 3.77%
Retained earnings to average equity (YTD only) 3.77%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 520.47%
Efficiency ratio7.20%
Assets per employee$88,229
Cash dividends to net income (YTD only)5.14%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.79%
Noncurrent assets plus other real estate owned to assets 32.96%
Noncurrent loans to loans 1.55%
Net loans and leases to deposits2.40%
Net loans and leases to core deposits 83.54%
Equity capital to assets 86.17%
Core capital (leverage) ratio 9.25%
Tier 1 risk-based capital ratio 8.84%
Total risk-based capital ratio 15.58%
Average assets$16
Average earning assets$376,999
Average equity $33,158
Average loans $338,512
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9 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
042589Mutual Federal Savings Bank Of Plymo570 Washington St, Whitman, MA 2382January 01, 1889Full Service Brick and Mortar
1277056Liberty Street Branch430 Liberty Street, Hanson, MA 2341January 01, 1889Full Service Brick and Mortar
3277058Plymouth Street Branch336 Plymouth Street, Halifax, MA 2338January 01, 1889Full Service Brick and Mortar
100277059Main St Street Branch74 Main Street, Carver, MA 2330January 01, 1889Full Service Brick and Mortar
102266856West Side Branch777 Belmont Street, Brockton, MA 2301January 01, 1877Full Service Brick and Mortar
103266857Falmouth Branch668 Main Street, Falmouth, MA 2540January 01, 1877Full Service Brick and Mortar
104266859East Side Branch656 Crescent Street, Brockton, MA 2302January 01, 1877Full Service Brick and Mortar
1054954212 Pilgrim Hill Road2 Pilgrim Hill Road, Plymouth, MA 2360December 01, 2008Full Service Brick and Mortar
106495422Grove Street Branch448 W Grove Street, Middleboro, MA 2346June 01, 2007Full Service Brick and Mortar
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