Pilgrim Bank in Cohasset, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Pilgrim Bank in Cohasset, Massachusetts (MA)
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Pilgrim Bank - Overview

  • General
  • FDIC Certificate #: 26590
    Status: Active
    Federal Reserve ID: 61476
    Bank Holding Company (Regulatory Top Holder): Conahasset Bancshares Mhc (RSSDID: 3946958, Location: Cohasset, MA)
    Date Established: January 01, 1916
    WWW: http://www.bankpilgrim.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 13875
    FDIC's unique #: 35295
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: March 06, 1986
    Last Structure Change Effective Date: January 26, 2010
    Last Structure Change Process Date: Febuary 25, 2010
    Last Data Update: Febuary 25, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 48 South Main Street, Cohasset, MA 2025
    County: Norfolk
    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): Boston, MA-NH (#1120)
    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: Boston-Quincy, MA (#14484)
  • History of Changes
  • Participated in Reorganization
    Change in Entity Type
  • Financial Summary
  • Total assets: $170.3 mil
    Equity capital: $11.6 mil
    Deposits held in domestic offices: $154.8 mil
    Return on assets (ROA): 0.22% ($0.4 mil)
    Quarterly return on assets: 0.59% ($1.0 mil)
    Return on Equity (ROE): 3.36% ($0.4 mil)
    Quarterly return on equity: 8.77% ($1.1 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.33% ($562.0 mil)
    Quarterly Pretax return on assets: 0.92% ($1,566.7 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
  • 32Total employees (full-time equivalent)
  • $170,293Total assets
  • $27,548Cash and due from depository institutions
  • $23,520Interest-bearing balances
  • $21,403Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $108,756Net loans & leases
  • $870Loan loss allowance
  • $0Trading account assets
  • $6,370Bank premises and fixed assets
  • $1,463Other real estate owned
  • $0Goodwill and other intangibles
  • $170,293Life insurance assets
  • $4,753All other assets
  • $158,728Total liabilities and capital
  • $154,800Total liabilities
  • $148,465Total deposits
  • $154,800Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,641Trading liabilities
  • $0Other borrowed funds
  • $287Subordinated debt
  • $11,565All other liabilities
  • $11,565Total equity capital
  • $11,565Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $0Surplus
  • $11,555Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,165Income earned, not collected on loans
  • $0Earning assets
  • $470Long-term assets (5+ years)
  • $153,679Average Assets, year-to-date
  • $40,030Average Assets, quarterly
  • $169,921Volatile liabilities
  • $170,996Insider loans
  • $91,384FHLB advances
  • $168,357Loans and leases held for sale
  • $2,071Unused loan commitments
  • $2,071Tier 1 (core) risk-based capital
  • $11,396Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,470Restructured Loans and leases
  • $948Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,376Total interest income
  • $1,649Total interest expense
  • $4,727Net interest income
  • $200Provision for loan and lease losses
  • $367Total noninterest income
  • $0Fiduciary activities
  • $147Service charges on deposit accounts
  • $0Trading account gains & fees
  • $220Additional noninterest income
  • $3,982Total noninterest expense
  • $2,063Salaries and employee benefits
  • $300Premises and equipment expense
  • $1,619Additional noninterest expense
  • $912Pre-tax net operating income
  • -$356Securities gains (losses)
  • $179Applicable income taxes
  • $377Income before extraordinary items
  • $0Extraordinary gains - net
  • $377Net income attributable to bank
  • $0Net charge-offs
  • $377Cash dividends
  • $406Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.13%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 3.06%Net interest margin
  • 0.24%Noninterest income to earning assets
  • 2.58%Noninterest expense to earning assets
  • 0.36%Net operating income to assets
  • 0.22%Return on assets (ROA)
  • 0.33%Pretax return on assets
  • 3.36%Return on equity (ROE)
  • 3.36%Retained earnings to average equity (YTD only)
  • 0.37%Net charge-offs to loans
  • 49.26%Credit loss provision to net charge-offs
  • 2.74%Efficiency ratio
  • 78,170Assets per employee
  • 5.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.79%Loss allowance to noncurrent loans
  • 40.18%Noncurrent assets plus other real estate owned to assets
  • 2.13%Noncurrent loans to loans
  • 1.97%Net loans and leases to deposits
  • 70.26%Net loans and leases to core deposits
  • 78.73%Equity capital to assets
  • 6.79%Core capital (leverage) ratio
  • 6.77%Tier 1 risk-based capital ratio
  • 12.47%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $169,921Average earning assets
  • $11,224Average equity
  • $154,278Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    035295Pilgrim Bank48 South Main Street, Cohasset, MA 2025January 01, 1916Full Service Brick and Mortar
    1363802Chief Justice Cushing Way Branch800 Chief Justice Cushing Way, Cohasset, MA 2025April 15, 2002Full Service Brick and Mortar
    2473969Marion Branch350 Front Street, Marion, MA 2738April 07, 2008Full Service Brick and Mortar

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