Norway Savings Bank in Norway, Maine (ME)
Overview, Financial Summary, Detailed Financial Reports, Branches

Norway Savings Bank - Overview

  • General
  • FDIC Certificate #: 17658
    Status: Active
    Federal Reserve ID: 289702
    Bank Holding Company (Regulatory Top Holder): Norway Bancorp, Mhc (RSSDID: 2835475, Location: Norway, ME)
    Date Established: January 01, 1866
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 20 (Domestic: 20, Interstate: No)
    OTS Docket #: 8540
    FDIC's unique #: 11623
    Numeric code: 41
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 27, 1956
    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: 261 Main Street, Norway, ME 4268
    County: Oxford
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Concord
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $958.8 mil
    Equity capital: $103.3 mil
    Deposits held in domestic offices: $711.3 mil
    Return on assets (ROA): 0.76% ($7.3 mil)
    Quarterly return on assets: 0.76% ($7.3 mil)
    Return on Equity (ROE): 7.02% ($7.2 mil)
    Quarterly return on equity: 7.02% ($7.2 mil)
    Net income: $7.2 mil
    Quarterly Net income: $1.8 mil
    Pretax return on assets: 1.05% ($10,067.9 mil)
    Quarterly Pretax return on assets: 0.86% ($8,246.1 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
  • 247Total employees (full-time equivalent)
  • $958,847Total assets
  • $54,081Cash and due from depository institutions
  • $39,310Interest-bearing balances
  • $76,104Securities
  • $222Federal funds sold & reverse repurchase agreements
  • $755,891Net loans & leases
  • $8,619Loan loss allowance
  • $0Trading account assets
  • $30,313Bank premises and fixed assets
  • $311Other real estate owned
  • $5,937Goodwill and other intangibles
  • $958,847Life insurance assets
  • $35,988All other assets
  • $855,511Total liabilities and capital
  • $711,322Total liabilities
  • $576,901Total deposits
  • $711,322Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $118,264Trading liabilities
  • $0Other borrowed funds
  • $25,925Subordinated debt
  • $103,336All other liabilities
  • $103,336Total equity capital
  • $103,336Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $25,000Surplus
  • $78,336Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,884Income earned, not collected on loans
  • $219Earning assets
  • $2,655Long-term assets (5+ years)
  • $871,527Average Assets, year-to-date
  • $491,662Average Assets, quarterly
  • $945,641Volatile liabilities
  • $951,452Insider loans
  • $799,775FHLB advances
  • $951,541Loans and leases held for sale
  • $15,154Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $101,905Tier 2 risk-based capital
  • $15,154Total risk weighted assets
  • $0Total unused commitments
  • $195,405Restructured Loans and leases
  • $5,075Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $43,417Total interest income
  • $10,302Total interest expense
  • $33,115Net interest income
  • $900Provision for loan and lease losses
  • $6,297Total noninterest income
  • $682Fiduciary activities
  • $1,536Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,079Additional noninterest income
  • $29,813Total noninterest expense
  • $16,178Salaries and employee benefits
  • $4,608Premises and equipment expense
  • $9,027Additional noninterest expense
  • $8,699Pre-tax net operating income
  • $1,231Securities gains (losses)
  • $2,766Applicable income taxes
  • $7,164Income before extraordinary items
  • $0Extraordinary gains - net
  • $7,164Net income attributable to bank
  • $0Net charge-offs
  • $7,164Cash dividends
  • $1,564Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.04%Yield on earning assets
  • 1.20%Cost of funding earning assets
  • 3.85%Net interest margin
  • 0.73%Noninterest income to earning assets
  • 3.46%Noninterest expense to earning assets
  • 0.66%Net operating income to assets
  • 0.76%Return on assets (ROA)
  • 1.05%Pretax return on assets
  • 7.02%Return on equity (ROE)
  • 7.02%Retained earnings to average equity (YTD only)
  • 0.20%Net charge-offs to loans
  • 57.54%Credit loss provision to net charge-offs
  • 6.14%Efficiency ratio
  • 75,644Assets per employee
  • 3.88%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.13%Loss allowance to noncurrent loans
  • 97.02%Noncurrent assets plus other real estate owned to assets
  • 0.96%Noncurrent loans to loans
  • 1.16%Net loans and leases to deposits
  • 106.27%Net loans and leases to core deposits
  • 114.20%Equity capital to assets
  • 10.78%Core capital (leverage) ratio
  • 10.71%Tier 1 risk-based capital ratio
  • 12.74%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $945,641Average earning assets
  • $101,987Average equity
  • $861,043Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $102,369Managed Assets
  • 1Number of Accounts
  • $78,735Personal trust and agency accounts
  • $7,780Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $15,935Other retirement accounts
  • $15,694Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $39,326Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 175Number of Accounts
  • $0Personal trust and agency accounts
  • $15,694Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $23,634Other retirement accounts
  • $23,545Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $89Fiduciary accounts held in foreign offices

List of branches

  • 20 Maine Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011623Norway Savings Bank261 Main Street, Norway, ME 4268January 01, 1866Full Service Brick and Mortar
    1242452Bridgton BranchFlint And Main Streets, Bridgton, ME 4009December 01, 1969Full Service Brick and Mortar
    2242453Fryeburg Branch106 Main Street, Fryeburg, ME 4037June 09, 1975Full Service Brick and Mortar
    3242454Naples BranchU.S. Route 302, Naples, ME 4055January 12, 1981Full Service Brick and Mortar
    4242455South Paris BranchHigh Street, South Paris, ME 4281May 30, 1984Full Service Brick and Mortar
    5242456Windham Branch10 Franklin Drive, Windham, ME 4062July 05, 1988Full Service Brick and Mortar
    6242457Bethel BranchOne Parkway Road, Bethel, ME 4217December 19, 1996Full Service Brick and Mortar
    1016390Coastal Bank Branch1200 Congress Street, Portland, ME 4102April 01, 1981Full Service Brick and Mortar
    11242658Saco Branch569 Main Street, Saco, ME 4072July 09, 1973Full Service Brick and Mortar
    1211070Brunswick Main Branch83 Maine Street, Brunswick, ME 4011January 01, 1858Full Service Brick and Mortar
    13239903Cook's Corner BranchRoutes 1 And 24, Brunswick, ME 4011August 04, 1967Full Service Brick and Mortar
    14239904Freeport BranchMain Street And Mallett Drive, Freeport, ME 4032November 01, 1968Full Service Brick and Mortar
    15256292Topsham Fair Branch47 Topsham Fair Mall Road, Topsham, ME 4086November 12, 1985Full Service Brick and Mortar
    16256293Portland Branch120 Exchange Street, Portland, ME 4101March 23, 1998Full Service Brick and Mortar
    17359992Falmouth Branch266 U.S. Route 1, Falmouth, ME 4105November 01, 2000Full Service Brick and Mortar
    18363183Waterman Drive Branch207 Waterman Drive, South Portland, ME 4106Febuary 07, 2002Full Service Brick and Mortar
    19422518Scarborough Branch158 U.S. Route One, Scarborough, ME 4074June 16, 2003Full Service Brick and Mortar
    20438855Gorham Branch65 Main Street, Gorham, ME 4038March 07, 2005Full Service Brick and Mortar
    22467058Standish Branch88 Ossippee Trail East, Standish, ME 4084June 11, 2007Full Service Brick and Mortar
    23491626Yarmouth Branch688 Us Route 1, Yarmouth, ME 4096June 08, 2009Full Service Brick and Mortar

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