Northmark Bank in North Andover, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Northmark Bank in North Andover, Massachusetts (MA)
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Northmark Bank - Overview

  • General
  • FDIC Certificate #: 27119
    Status: Active
    Federal Reserve ID: 1161216
    Date Established: December 08, 1987
    WWW: http://www.northmarkbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 11802
    FDIC's unique #: 38819
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 08, 1987
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 89 Turnpike Street, North Andover, MA 1845
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Lawrence, MA-NH (#4160)
    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: Peabody, MA (#37764)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $305.6 mil
    Equity capital: $34.7 mil
    Deposits held in domestic offices: $261.3 mil
    Return on assets (ROA): 0.80% ($2.4 mil)
    Quarterly return on assets: 0.82% ($2.5 mil)
    Return on Equity (ROE): 7.27% ($2.5 mil)
    Quarterly return on equity: 7.33% ($2.6 mil)
    Net income: $2.5 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 1.34% ($4,095.5 mil)
    Quarterly Pretax return on assets: 1.40% ($4,278.9 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
  • 42Total employees (full-time equivalent)
  • $305,634Total assets
  • $29,216Cash and due from depository institutions
  • $25,578Interest-bearing balances
  • $24,550Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $239,302Net loans & leases
  • $2,850Loan loss allowance
  • $0Trading account assets
  • $5,791Bank premises and fixed assets
  • $0Other real estate owned
  • $401Goodwill and other intangibles
  • $305,634Life insurance assets
  • $6,374All other assets
  • $270,953Total liabilities and capital
  • $261,266Total liabilities
  • $197,888Total deposits
  • $261,266Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 3042.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $2,645Subordinated debt
  • $34,681All other liabilities
  • $34,681Total equity capital
  • $34,681Total bank equity capital
  • $0Perpetual preferred stock
  • $1,237Common stock
  • $10,903Surplus
  • $22,541Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $909Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $252Income earned, not collected on loans
  • $0Earning assets
  • $606Long-term assets (5+ years)
  • $289,430Average Assets, year-to-date
  • $51,707Average Assets, quarterly
  • $306,303Volatile liabilities
  • $304,642Insider loans
  • $192,268FHLB advances
  • $307,982Loans and leases held for sale
  • $1,832Unused loan commitments
  • $1,832Tier 1 (core) risk-based capital
  • $34,641Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $61,950Restructured Loans and leases
  • $4,795Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,532Total interest income
  • $2,521Total interest expense
  • $10,011Net interest income
  • $265Provision for loan and lease losses
  • $961Total noninterest income
  • $0Fiduciary activities
  • $443Service charges on deposit accounts
  • $0Trading account gains & fees
  • $518Additional noninterest income
  • $6,606Total noninterest expense
  • $4,490Salaries and employee benefits
  • $733Premises and equipment expense
  • $1,383Additional noninterest expense
  • $4,101Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,647Applicable income taxes
  • $2,454Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,454Net income attributable to bank
  • $0Net charge-offs
  • $2,454Cash dividends
  • $80Sale, conversion, retirement of capital stock, net
  • $543Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.31%Yield on earning assets
  • 0.87%Cost of funding earning assets
  • 3.45%Net interest margin
  • 0.33%Noninterest income to earning assets
  • 2.27%Noninterest expense to earning assets
  • 0.80%Net operating income to assets
  • 0.80%Return on assets (ROA)
  • 1.34%Pretax return on assets
  • 7.27%Return on equity (ROE)
  • 5.66%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 331.25%Credit loss provision to net charge-offs
  • 54.58%Efficiency ratio
  • 60,208Assets per employee
  • 7.28%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 22.13%Loss allowance to loans
  • 1.18%Loss allowance to noncurrent loans
  • 1130.95%Noncurrent assets plus other real estate owned to assets
  • 0.08%Noncurrent loans to loans
  • 0.10%Net loans and leases to deposits
  • 91.59%Net loans and leases to core deposits
  • 111.04%Equity capital to assets
  • 11.35%Core capital (leverage) ratio
  • 11.25%Tier 1 risk-based capital ratio
  • 18.02%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $306,303Average earning assets
  • $33,742Average equity
  • $290,521Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    038819Northmark Bank89 Turnpike Street, North Andover, MA 1845December 08, 1987Full Service Brick and Mortar
    1261137Winchester Branch26 Mount Vernon Street, Winchester, MA 1890December 08, 1998Full Service Brick and Mortar
    2440416Andover Branch69 Park Street, Andover, MA 1810May 02, 2005Full Service Brick and Mortar

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