NewMil Bank in New Milford, Connecticut (CT)



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NewMil Bank
GeneralFDIC Certificate #: 18259
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Webster Bank, National Association (#18221)
Federal Reserve ID: 623306
Date Established: July 01, 1858
WWW: http://www.newmilbank.com
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 20 (Interstate: No)
OTS Docket #: 12307
FDIC's unique #: 12175
Numeric code: 41
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: July 01, 1960
Last Structure Change Effective Date: October 06, 2006
Last Structure Change Process Date: October 27, 2006
Last Data Update: October 27, 2006
Data Source Date: April 05, 2012
LocationAddress: 19-21 Main Street, New Milford, CT 6776
County: Litchfield
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): Danbury, CT (#1930)
Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
Core Based Statistical Area (CBSA): Torrington, CT (#45860)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $710.5 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, 2005)
(Dollar figures in thousands)
Total employees (full-time equivalent)180
Total assets$873,043
Cash and due from depository institutions$22,495
Interest-bearing balances$0
Securities$312,455
Federal funds sold & reverse repurchase agreements$69
Net loans & leases$492,816
Loan loss allowance $4,949
Trading account assets$0
Bank premises and fixed assets$6,857
Other real estate owned$0
Goodwill and other intangibles$8,094
All other assets$30,257
Life insurance assets$0
Total liabilities and capital$873,043
Total liabilities$810,446
Total deposits$616,393
Interest-bearing deposits$580,181
Deposits held in domestic offices$616,393
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $15,491
Trading liabilities$0
Other borrowed funds $174,266
Subordinated debt $0
All other liabilities $4,296
Total equity capital$62,597
Total bank equity capital$62,597
Perpetual preferred stock$62,597
Common stock$0
Surplus$4,741
Undivided profits $55,955
Memoranda
Noncurrent loans and leases $1,901
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $101,815
Income earned, not collected on loans $0
Earning assets $1,590
Long-term assets (5+ years) $0
Average Assets, year-to-date $3,847
Average Assets, quarterly $805,340
Volatile liabilities $387,325
Insider loans $815,538
FHLB advances $865,204
Loans and leases held for sale $213,363
Unused loan commitments $3,436
Tier 1 (core) risk-based capital $174,266
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $101,815
Restructured Loans and leases $0
Derivatives$4,949
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Income and Expense (December 31, 2005)
(Dollar figures in thousands)
Total interest income $40,290
Total interest expense $13,624
Net interest income $26,666
Provision for loan and lease losses -$135
Total noninterest income $4,288
Fiduciary activities $0
Service charges on deposit accounts $2,211
Trading account gains & fees $0
Additional noninterest income $2,077
Total noninterest expense $17,559
Salaries and employee benefits $9,716
Premises and equipment expense $2,520
Additional noninterest expense $5,323
Pre-tax net operating income $13,530
Securities gains (losses) $0
Applicable income taxes $3,327
Income before extraordinary items $10,203
Extraordinary gains - net $0
Net income attributable to bank $10,203
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$36
Net operating income $8,540
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Performance and Condition Ratios (December 31, 2005)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.35%
Cost of funding earning assets 1.81%
Net interest margin 3.54%
Noninterest income to earning assets 0.57%
Noninterest expense to earning assets 2.33%
Net operating income to assets 1.25%
Return on assets (ROA) 1.25%
Pretax return on assets 1.66%
Return on equity (ROE) 16.06%
Retained earnings to average equity (YTD only) 2.62%
Net charge-offs to loans -0.01%
Credit loss provision to net charge-offs 375.00%
Efficiency ratio0.00%
Assets per employee$56,251
Cash dividends to net income (YTD only)4.85%
Condition Ratios (%)
Loss allowance to loans 83.70%
Loss allowance to noncurrent loans 0.99%
Noncurrent assets plus other real estate owned to assets 311.26%
Noncurrent loans to loans 0.18%
Net loans and leases to deposits0.32%
Net loans and leases to core deposits 79.95%
Equity capital to assets 88.71%
Core capital (leverage) ratio 7.17%
Tier 1 risk-based capital ratio 6.78%
Total risk-based capital ratio 11.99%
Memoranda
Average assets$13
Average earning assets$815,538
Average equity $63,530
Average loans $753,381
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Total Fiduciary and Related Assets (December 31, 2001)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$222
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$222
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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