Neworld Bank in Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 18, 1994

  • Neworld Bank in Boston, Massachusetts (MA)
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Neworld Bank - Overview

  • General
  • FDIC Certificate #: 22052
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Citizens Bank of Massachusetts (#18562)
    Federal Reserve ID: 15602
    Date Established: April 07, 1954
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 22 (Interstate: No)
    OTS Docket #: 7405
    FDIC's unique #: 15304
    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, 1975
    Last Structure Change Effective Date: April 18, 1994
    Last Structure Change Process Date: May 02, 1994
    Last Data Update: May 02, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 55 Summer Street, Boston, MA 2110
    County: Suffolk
    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): 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: $1,072.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $315Total assets
  • $1,087,493Cash and due from depository institutions
  • $20,693Interest-bearing balances
  • $0Securities
  • $237,755Federal funds sold & reverse repurchase agreements
  • $9,000Net loans & leases
  • $782,847Loan loss allowance
  • $27,226Trading account assets
  • $0Bank premises and fixed assets
  • $16,107Other real estate owned
  • $20Goodwill and other intangibles
  • $19,251Life insurance assets
  • $1,820All other assets
  • $0Total liabilities and capital
  • $1,087,493Total liabilities
  • $993,562Total deposits
  • $988,245Interest-bearing deposits
  • $935,258Deposits held in domestic offices
  • 988245.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $5,317Total equity capital
  • $5,317Total bank equity capital
  • $93,931Perpetual preferred stock
  • $0Common stock
  • $4,979Surplus
  • $48,431Undivided profits
  • Memoranda
  • $40,521Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,057Income earned, not collected on loans
  • $3,611Earning assets
  • $1,029,602Long-term assets (5+ years)
  • $152,538Average Assets, year-to-date
  • $1,106,465Average Assets, quarterly
  • $1,102,981Volatile liabilities
  • $27,086Insider loans
  • $1,039FHLB advances
  • $0Loans and leases held for sale
  • $230Unused loan commitments
  • $93,347Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $92,111Total risk weighted assets
  • $728,942Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $71,951Total interest expense
  • $31,425Net interest income
  • $40,526Provision for loan and lease losses
  • $6,800Total noninterest income
  • $6,542Fiduciary activities
  • $0Service charges on deposit accounts
  • $2,425Trading account gains & fees
  • $0Additional noninterest income
  • $4,117Total noninterest expense
  • $29,568Salaries and employee benefits
  • $12,933Premises and equipment expense
  • $4,128Additional noninterest expense
  • $12,507Pre-tax net operating income
  • $10,700Securities gains (losses)
  • $8Applicable income taxes
  • $959Income before extraordinary items
  • $9,749Extraordinary gains - net
  • $6,033Net income attributable to bank
  • $15,782Net charge-offs
  • $7,977Cash dividends
  • $276Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.89%Cost of funding earning assets
  • 3.01%Net interest margin
  • 3.88%Noninterest income to earning assets
  • 0.63%Noninterest expense to earning assets
  • 2.83%Net operating income to assets
  • 0.88%Return on assets (ROA)
  • 1.43%Pretax return on assets
  • 1.51%Return on equity (ROE)
  • 18.12%Retained earnings to average equity (YTD only)
  • 17.80%Net charge-offs to loans
  • 0.99%Credit loss provision to net charge-offs
  • 85.25%Efficiency ratio
  • 60,765Assets per employee
  • 3.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 1.75%Loss allowance to loans
  • 3.36%Loss allowance to noncurrent loans
  • 225.81%Noncurrent assets plus other real estate owned to assets
  • 1.11%Noncurrent loans to loans
  • 1.49%Net loans and leases to deposits
  • 79.22%Net loans and leases to core deposits
  • 81.45%Equity capital to assets
  • 8.64%Core capital (leverage) ratio
  • 8.31%Tier 1 risk-based capital ratio
  • 12.64%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $1,106,465Average earning assets
  • $87,118Average equity
  • $1,043,874Average loans

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