Norway Savings Bank in Norway, Maine (ME)



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Norway Savings Bank
GeneralFDIC 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
WWW: http://www.norwaysavingsbank.com
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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)247
Total assets$958,847
Cash and due from depository institutions$54,081
Interest-bearing balances$39,310
Securities$76,104
Federal funds sold & reverse repurchase agreements$222
Net loans & leases$755,891
Loan loss allowance $8,619
Trading account assets$0
Bank premises and fixed assets$30,313
Other real estate owned$311
Goodwill and other intangibles$5,937
All other assets$35,988
Life insurance assets$958,847
Total liabilities and capital$855,511
Total liabilities$711,322
Total deposits$576,901
Interest-bearing deposits$711,322
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$118,264
Other borrowed funds $0
Subordinated debt $25,925
All other liabilities $103,336
Total equity capital$103,336
Total bank equity capital$103,336
Perpetual preferred stock$0
Common stock$0
Surplus$25,000
Undivided profits $78,336
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $8,884
Earning assets $219
Long-term assets (5+ years) $2,655
Average Assets, year-to-date $871,527
Average Assets, quarterly $491,662
Volatile liabilities $945,641
Insider loans $951,452
FHLB advances $799,775
Loans and leases held for sale $951,541
Unused loan commitments $15,154
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $101,905
Total risk weighted assets $15,154
Total unused commitments $0
Restructured Loans and leases $195,405
Derivatives$5,075
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $43,417
Total interest expense $10,302
Net interest income $33,115
Provision for loan and lease losses $900
Total noninterest income $6,297
Fiduciary activities $682
Service charges on deposit accounts $1,536
Trading account gains & fees $0
Additional noninterest income $4,079
Total noninterest expense $29,813
Salaries and employee benefits $16,178
Premises and equipment expense $4,608
Additional noninterest expense $9,027
Pre-tax net operating income $8,699
Securities gains (losses) $1,231
Applicable income taxes $2,766
Income before extraordinary items $7,164
Extraordinary gains - net $0
Net income attributable to bank $7,164
Net charge-offs $0
Cash dividends $7,164
Sale, conversion, retirement of capital stock, net $1,564
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.04%
Cost of funding earning assets 1.20%
Net interest margin 3.85%
Noninterest income to earning assets 0.73%
Noninterest expense to earning assets 3.46%
Net operating income to assets 0.66%
Return on assets (ROA) 0.76%
Pretax return on assets 1.05%
Return on equity (ROE) 7.02%
Retained earnings to average equity (YTD only) 7.02%
Net charge-offs to loans 0.20%
Credit loss provision to net charge-offs 57.54%
Efficiency ratio6.14%
Assets per employee$75,644
Cash dividends to net income (YTD only)3.88%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.13%
Noncurrent assets plus other real estate owned to assets 97.02%
Noncurrent loans to loans 0.96%
Net loans and leases to deposits1.16%
Net loans and leases to core deposits 106.27%
Equity capital to assets 114.20%
Core capital (leverage) ratio 10.78%
Tier 1 risk-based capital ratio 10.71%
Total risk-based capital ratio 12.74%
Memoranda
Average assets$14
Average earning assets$945,641
Average equity $101,987
Average loans $861,043
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Total Fiduciary and Related Assets (December 31, 2011)
(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$102,369
Number of Accounts1
Personal trust and agency accounts$78,735
Employee benefit-defined contribution accounts$7,780
Employee benefit-defined benefit accounts$0
Other retirement accounts$15,935
Corporate trust and agency accounts$15,694
Investment management agency accounts$0
Other fiduciary accounts$39,326
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts175
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$15,694
Employee benefit-defined benefit accounts$0
Other retirement accounts$23,634
Corporate trust and agency accounts$23,545
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$89
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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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