Ocean Bank in Portsmouth, New Hampshire (NH)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2009

  • Ocean Bank in Portsmouth, New Hampshire (NH)
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Ocean Bank - Overview

  • General
  • FDIC Certificate #: 4264
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: People's United Bank (#27334)
    Federal Reserve ID: 252706
    Date Established: May 25, 1854
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 18082
    FDIC's unique #: 2797
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 01, 2009
    Last Structure Change Process Date: Febuary 19, 2009
    Last Data Update: Febuary 19, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 325 State St., Portsmouth, NH 3801
    County: Rockingham
    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
    Metropolitan Statistical Area (MSA): Portsmouth-Rochester, NH-ME (#6450)
    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: Rockingham County-Strafford County, NH (#40484)
  • Financial Summary
  • Total assets: $2,208.9 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, 2008)

  • Dollar figures in thousands
  • 358Total employees (full-time equivalent)
  • $2,208,891Total assets
  • $29,774Cash and due from depository institutions
  • $61Interest-bearing balances
  • $194,786Securities
  • $50,160Federal funds sold & reverse repurchase agreements
  • $1,342,490Net loans & leases
  • $20,751Loan loss allowance
  • $0Trading account assets
  • $36,306Bank premises and fixed assets
  • $2,744Other real estate owned
  • $536,717Goodwill and other intangibles
  • $1,635Life insurance assets
  • $15,914All other assets
  • $2,208,891Total liabilities and capital
  • $1,510,310Total liabilities
  • $1,447,144Total deposits
  • $1,297,730Interest-bearing deposits
  • $1,447,144Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $41,713Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $21,453All other liabilities
  • $698,581Total equity capital
  • $698,581Total bank equity capital
  • $698,581Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $684,264Undivided profits
  • Memoranda
  • $14,317Noncurrent loans and leases
  • $285,410Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $24,882Earning assets
  • $1,261Long-term assets (5+ years)
  • $4,376Average Assets, year-to-date
  • $1,587,497Average Assets, quarterly
  • $0Volatile liabilities
  • $2,209,179Insider loans
  • $2,227,754FHLB advances
  • $202,270Loans and leases held for sale
  • $13,876Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $285,410Total unused commitments
  • $2,744Restructured Loans and leases
  • $17,094Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $95,220Total interest income
  • $29,755Total interest expense
  • $65,465Net interest income
  • $5,164Provision for loan and lease losses
  • $17,661Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $17,661Additional noninterest income
  • $57,971Total noninterest expense
  • $22,442Salaries and employee benefits
  • $7,039Premises and equipment expense
  • $28,490Additional noninterest expense
  • $19,991Pre-tax net operating income
  • $1,477Securities gains (losses)
  • $7,370Applicable income taxes
  • $14,098Income before extraordinary items
  • $0Extraordinary gains - net
  • $14,098Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,376Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.86%Yield on earning assets
  • 1.83%Cost of funding earning assets
  • 4.03%Net interest margin
  • 1.09%Noninterest income to earning assets
  • 3.57%Noninterest expense to earning assets
  • 0.59%Net operating income to assets
  • 0.64%Return on assets (ROA)
  • 0.97%Pretax return on assets
  • 2.20%Return on equity (ROE)
  • 2.20%Retained earnings to average equity (YTD only)
  • 0.24%Net charge-offs to loans
  • 152.96%Credit loss provision to net charge-offs
  • 7.45%Efficiency ratio
  • 66,077Assets per employee
  • 6.17%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.52%Loss allowance to noncurrent loans
  • 83.40%Noncurrent assets plus other real estate owned to assets
  • 1.25%Noncurrent loans to loans
  • 1.83%Net loans and leases to deposits
  • 92.77%Net loans and leases to core deposits
  • 104.35%Equity capital to assets
  • 31.63%Core capital (leverage) ratio
  • 9.59%Tier 1 risk-based capital ratio
  • 11.85%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $2,209,179Average earning assets
  • $639,402Average equity
  • $1,624,996Average loans

Total Fiduciary and Related Assets (December 31, 2008)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $80,759Managed Assets
  • 1Number of Accounts
  • $63,596Personal trust and agency accounts
  • $878Employee benefit-defined contribution accounts
  • $4,521Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $15,217Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $42,980Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 181Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $17,163Other retirement accounts
  • $0Corporate trust and agency accounts
  • $17,163Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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