Newport Federal Savings Bank in Newport, Rhode Island (RI), CT
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Newport Federal Savings Bank in Newport, Rhode Island (RI), CT
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Newport Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 30626
    Status: Active
    Federal Reserve ID: 478476
    Date Established: January 01, 1888
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: Yes)
    OTS Docket #: 5652
    FDIC's unique #: 43460
    Numeric code: 33
    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: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 15, 1954
    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
  • Location
  • Address: 100 Bellevue Avenue, Newport, RI 2840
    County: Newport
    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
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $453.5 mil
    Equity capital: $43.5 mil
    Deposits held in domestic offices: $267.0 mil
    Return on assets (ROA): 0.33% ($1.5 mil)
    Quarterly return on assets: 0.37% ($1.7 mil)
    Return on Equity (ROE): 3.53% ($1.6 mil)
    Quarterly return on equity: 3.95% ($1.7 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.51% ($2,312.7 mil)
    Quarterly Pretax return on assets: 0.58% ($2,630.2 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, 2011)

  • Dollar figures in thousands
  • 80Total employees (full-time equivalent)
  • $453,480Total assets
  • $31,074Cash and due from depository institutions
  • $23,869Interest-bearing balances
  • $36,220Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $348,491Net loans & leases
  • $3,709Loan loss allowance
  • $0Trading account assets
  • $14,706Bank premises and fixed assets
  • $839Other real estate owned
  • $0Goodwill and other intangibles
  • $453,480Life insurance assets
  • $22,150All other assets
  • $409,980Total liabilities and capital
  • $266,958Total liabilities
  • $226,444Total deposits
  • $266,958Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 40000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $96,446Trading liabilities
  • $0Other borrowed funds
  • $6,576Subordinated debt
  • $43,500All other liabilities
  • $43,500Total equity capital
  • $43,500Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $22,405Surplus
  • $21,094Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,910Income earned, not collected on loans
  • $0Earning assets
  • $1,269Long-term assets (5+ years)
  • $408,580Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $451,632Volatile liabilities
  • $455,754Insider loans
  • $290,476FHLB advances
  • $452,979Loans and leases held for sale
  • $11,132Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $42,938Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $24,885Restructured Loans and leases
  • $2,200Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,476Total interest income
  • $6,587Total interest expense
  • $14,889Net interest income
  • $1,121Provision for loan and lease losses
  • $1,950Total noninterest income
  • $0Fiduciary activities
  • $1,522Service charges on deposit accounts
  • $0Trading account gains & fees
  • $428Additional noninterest income
  • $13,434Total noninterest expense
  • $7,541Salaries and employee benefits
  • $3,635Premises and equipment expense
  • $2,258Additional noninterest expense
  • $2,284Pre-tax net operating income
  • $0Securities gains (losses)
  • $783Applicable income taxes
  • $1,501Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,501Net income attributable to bank
  • $0Net charge-offs
  • $1,501Cash dividends
  • $1,084Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.26%Yield on earning assets
  • 1.61%Cost of funding earning assets
  • 3.65%Net interest margin
  • 0.48%Noninterest income to earning assets
  • 3.29%Noninterest expense to earning assets
  • 0.33%Net operating income to assets
  • 0.33%Return on assets (ROA)
  • 0.51%Pretax return on assets
  • 3.53%Return on equity (ROE)
  • 3.53%Retained earnings to average equity (YTD only)
  • 0.30%Net charge-offs to loans
  • 103.41%Credit loss provision to net charge-offs
  • 3.14%Efficiency ratio
  • 79,779Assets per employee
  • 5.67%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.05%Loss allowance to noncurrent loans
  • 194.19%Noncurrent assets plus other real estate owned to assets
  • 0.61%Noncurrent loans to loans
  • 0.54%Net loans and leases to deposits
  • 130.54%Net loans and leases to core deposits
  • 132.09%Equity capital to assets
  • 9.59%Core capital (leverage) ratio
  • 9.49%Tier 1 risk-based capital ratio
  • 14.78%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $451,632Average earning assets
  • $42,559Average equity
  • $408,135Average loans

List of branches

  • 1 Connecticut Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    107495154Stonington Branch445 Liberty Street, Pawcatuck, CT 6379May 04, 2009Full Service Brick and Mortar
  • 5 Rhode Island Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    043460Newport Federal Savings Bank100 Bellevue Avenue, Newport, RI 2840January 01, 1888Full Service Brick and Mortar
    100281242165 East Main Road Branch165 East Main Road, Middletown, RI 2842January 01, 1888Full Service Brick and Mortar
    103281243Wakefield Branch122 Tower Hill Road, Wakefield, RI 2879June 30, 1996Full Service Brick and Mortar
    106495153Portsmouth Branch1430 E Main Rd, Portsmouth, RI 2871January 26, 2009Full Service Brick and Mortar
    108521575Westerly Branch18 Post Road, Westerly, RI 2891January 10, 2011Full Service Brick and Mortar

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