New England Savings Bank in New London, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 21, 1993

  • New England Savings Bank in New London, Connecticut (CT)
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New England Savings Bank - Overview

  • General
  • FDIC Certificate #: 18257
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Citizens Bank of Rhode Island (#16954)
    Federal Reserve ID: 559302
    Date Established: May 01, 1827
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 22 (Interstate: No)
    OTS Docket #: 8057
    FDIC's unique #: 12173
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 01, 1960
    Last Structure Change Effective Date: May 21, 1993
    Last Structure Change Process Date: May 27, 1993
    Last Data Update: May 27, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 63 Eugene O'neill Drive, New London, CT 6320
    County: New London
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): New London-Norwich, CT-RI (#5520)
    Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
    CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $914.9 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $369Total assets
  • $1,116,331Cash and due from depository institutions
  • $11,720Interest-bearing balances
  • $491Securities
  • $330,587Federal funds sold & reverse repurchase agreements
  • $13,225Net loans & leases
  • $610,343Loan loss allowance
  • $25,413Trading account assets
  • $0Bank premises and fixed assets
  • $7,534Other real estate owned
  • $127,529Goodwill and other intangibles
  • $15,393Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $1,116,331Total liabilities
  • $1,114,224Total deposits
  • $772,189Interest-bearing deposits
  • $735,725Deposits held in domestic offices
  • 772189.00%% insured (estimated)
  • $97Federal funds purchased & repurchase agreements
  • $162,181Trading liabilities
  • $0Other borrowed funds
  • $173,732Subordinated debt
  • $0All other liabilities
  • $6,122Total equity capital
  • $6,122Total bank equity capital
  • $2,107Perpetual preferred stock
  • $0Common stock
  • $8,016Surplus
  • $92,194Undivided profits
  • Memoranda
  • $-98,103Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $62,566Income earned, not collected on loans
  • $4,406Earning assets
  • $954,646Long-term assets (5+ years)
  • $299,250Average Assets, year-to-date
  • $1,177,900Average Assets, quarterly
  • $1,147,116Volatile liabilities
  • $389,575Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $947Unused loan commitments
  • $49,105Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,107Total risk weighted assets
  • $884,855Total unused commitments
  • $0Restructured Loans and leases
  • $40,000Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $82,786Total interest expense
  • $59,379Net interest income
  • $23,407Provision for loan and lease losses
  • $24,411Total noninterest income
  • $10,420Fiduciary activities
  • $0Service charges on deposit accounts
  • $1,679Trading account gains & fees
  • -$116Additional noninterest income
  • $8,857Total noninterest expense
  • $57,766Salaries and employee benefits
  • $13,514Premises and equipment expense
  • $4,760Additional noninterest expense
  • $39,492Pre-tax net operating income
  • -$48,350Securities gains (losses)
  • $9,590Applicable income taxes
  • -$776Income before extraordinary items
  • -$37,984Extraordinary gains - net
  • $0Net income attributable to bank
  • -$37,984Net charge-offs
  • $36,186Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.18%Cost of funding earning assets
  • 5.87%Net interest margin
  • 2.31%Noninterest income to earning assets
  • 1.03%Noninterest expense to earning assets
  • 5.71%Net operating income to assets
  • -4.02%Return on assets (ROA)
  • -3.22%Pretax return on assets
  • -3.29%Return on equity (ROE)
  • -138.76%Retained earnings to average equity (YTD only)
  • -138.76%Net charge-offs to loans
  • 5.06%Credit loss provision to net charge-offs
  • 67.46%Efficiency ratio
  • 170,769Assets per employee
  • 3.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.00%Loss allowance to noncurrent loans
  • 40.62%Noncurrent assets plus other real estate owned to assets
  • 17.03%Noncurrent loans to loans
  • 9.84%Net loans and leases to deposits
  • 79.04%Net loans and leases to core deposits
  • 84.98%Equity capital to assets
  • 0.19%Core capital (leverage) ratio
  • 0.18%Tier 1 risk-based capital ratio
  • 0.24%Total risk-based capital ratio
  • Memoranda
  • $0Average assets
  • $1,177,900Average earning assets
  • $27,373Average equity
  • $1,012,277Average loans

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