Old Stone Federal Savings Bank in Providence, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 08, 1994

  • Old Stone Federal Savings Bank in Providence, Rhode Island (RI)
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Old Stone Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 33781
    Status: Inactive
    Closing history: Conservatorship Institution Resolved
    Acquiring institution: Citizens Bank of Rhode Island (#16954)
    Federal Reserve ID: 11677
    Date Established: January 29, 1993
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 10652
    FDIC's unique #: 48028
    Numeric code: 34
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: January 29, 1993
    Last Structure Change Effective Date: July 08, 1994
    Last Structure Change Process Date: July 18, 1994
    Last Data Update: October 10, 1995
    Data Source Date: April 05, 2012
  • Location
  • Address: 86 South Main Street, Providence, RI 2901
    County: Providence
    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
    Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480)
    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
  • Pass Through Receivership Merger
    Corrections
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $1,207.7 mil

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $640Total assets
  • $1,400,680Cash and due from depository institutions
  • $33,821Interest-bearing balances
  • $591Securities
  • $20,666Federal funds sold & reverse repurchase agreements
  • $70,780Net loans & leases
  • $1,010,817Loan loss allowance
  • $35,923Trading account assets
  • $0Bank premises and fixed assets
  • $25,080Other real estate owned
  • $142,653Goodwill and other intangibles
  • $96,863Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $1,400,680Total liabilities
  • $1,521,018Total deposits
  • $1,228,356Interest-bearing deposits
  • $1,228,356Deposits held in domestic offices
  • 1228356.00%% insured (estimated)
  • $97Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $225,000Subordinated debt
  • $0All other liabilities
  • $67,662Total equity capital
  • $67,662Total bank equity capital
  • $-120,338Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-120,338Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $78,077Income earned, not collected on loans
  • $7,727Earning assets
  • $1,102,854Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $1,577,820Average Assets, quarterly
  • $1,446,795Volatile liabilities
  • $281,598Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $27,352Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-120,338Total risk weighted assets
  • $1,007,948Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $89,159Total interest expense
  • $57,028Net interest income
  • $32,131Provision for loan and lease losses
  • $55,000Total noninterest income
  • -$27,253Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • -$27,253Total noninterest expense
  • $91,739Salaries and employee benefits
  • $18,437Premises and equipment expense
  • $6,586Additional noninterest expense
  • $66,716Pre-tax net operating income
  • -$141,861Securities gains (losses)
  • $71Applicable income taxes
  • -$371Income before extraordinary items
  • -$141,419Extraordinary gains - net
  • $0Net income attributable to bank
  • -$141,419Net charge-offs
  • $51,033Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • -$202,194Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.10%Cost of funding earning assets
  • 4.54%Net interest margin
  • 2.56%Noninterest income to earning assets
  • -2.17%Noninterest expense to earning assets
  • 7.31%Net operating income to assets
  • -8.97%Return on assets (ROA)
  • -8.96%Pretax return on assets
  • -8.99%Return on equity (ROE)
  • 199.20%Retained earnings to average equity (YTD only)
  • 199.20%Net charge-offs to loans
  • 4.31%Credit loss provision to net charge-offs
  • 107.77%Efficiency ratio
  • 1,880,668Assets per employee
  • 2.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.43%Loss allowance to noncurrent loans
  • 46.01%Noncurrent assets plus other real estate owned to assets
  • 15.72%Noncurrent loans to loans
  • 7.46%Net loans and leases to deposits
  • 82.29%Net loans and leases to core deposits
  • 86.26%Equity capital to assets
  • -8.59%Core capital (leverage) ratio
  • -8.93%Tier 1 risk-based capital ratio
  • -11.94%Total risk-based capital ratio
  • Memoranda
  • -$12Average assets
  • $1,577,820Average earning assets
  • -$70,992Average equity
  • $1,254,938Average loans

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