Pioneer Financial, A Cooperative Bank in Malden, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 19, 1994

  • Pioneer Financial, A Cooperative Bank in Malden, Massachusetts (MA)
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Pioneer Financial, A Cooperative Bank - Overview

  • General
  • FDIC Certificate #: 27459
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 274977
    Date Established: July 23, 1982
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 21 (Interstate: No)
    OTS Docket #: 4277
    FDIC's unique #: 39983
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: Febuary 22, 1989
    Last Structure Change Effective Date: August 19, 1994
    Last Structure Change Process Date: August 29, 1994
    Last Data Update: March 31, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 46 Pleasant Street, Malden, MA 2148
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North 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: Cambridge-Newton-Framingham, MA (#15764)
  • History of Changes
  • Merger - Without Assistance
    Participated in Reorganization
    Corrections
  • Financial Summary
  • Total assets: $765.2 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $299Total assets
  • $773,097Cash and due from depository institutions
  • $32,233Interest-bearing balances
  • $301Securities
  • $178,536Federal funds sold & reverse repurchase agreements
  • $12,755Net loans & leases
  • $511,408Loan loss allowance
  • $9,111Trading account assets
  • $0Bank premises and fixed assets
  • $14,115Other real estate owned
  • $8,058Goodwill and other intangibles
  • $15,833Life insurance assets
  • $159All other assets
  • $0Total liabilities and capital
  • $773,097Total liabilities
  • $725,906Total deposits
  • $719,947Interest-bearing deposits
  • $657,206Deposits held in domestic offices
  • 719947.00%% insured (estimated)
  • $94Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $2,870Subordinated debt
  • $500All other liabilities
  • $2,589Total equity capital
  • $2,589Total bank equity capital
  • $47,191Perpetual preferred stock
  • $0Common stock
  • $10Surplus
  • $10,173Undivided profits
  • Memoranda
  • $37,008Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,325Income earned, not collected on loans
  • $5,499Earning assets
  • $703,000Long-term assets (5+ years)
  • $173,524Average Assets, year-to-date
  • $690,294Average Assets, quarterly
  • $719,318Volatile liabilities
  • $46,380Insider loans
  • $1,716FHLB advances
  • $0Loans and leases held for sale
  • $11,699Unused loan commitments
  • $51,684Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $47,032Total risk weighted assets
  • $425,837Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $49,120Total interest expense
  • $18,466Net interest income
  • $30,654Provision for loan and lease losses
  • $1,890Total noninterest income
  • $6,711Fiduciary activities
  • $0Service charges on deposit accounts
  • $1,961Trading account gains & fees
  • $0Additional noninterest income
  • $4,750Total noninterest expense
  • $23,494Salaries and employee benefits
  • $10,272Premises and equipment expense
  • $2,298Additional noninterest expense
  • $10,924Pre-tax net operating income
  • $11,981Securities gains (losses)
  • $373Applicable income taxes
  • $5,144Income before extraordinary items
  • $7,210Extraordinary gains - net
  • $784Net income attributable to bank
  • $7,994Net charge-offs
  • $635Cash dividends
  • $1,508Sale, conversion, retirement of capital stock, net
  • $4Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.72%Cost of funding earning assets
  • 2.90%Net interest margin
  • 4.82%Noninterest income to earning assets
  • 1.05%Noninterest expense to earning assets
  • 3.69%Net operating income to assets
  • 1.01%Return on assets (ROA)
  • 1.16%Pretax return on assets
  • 1.90%Return on equity (ROE)
  • 18.30%Retained earnings to average equity (YTD only)
  • 14.85%Net charge-offs to loans
  • 0.15%Credit loss provision to net charge-offs
  • 297.64%Efficiency ratio
  • 62,807Assets per employee
  • 2.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 18.86%Loss allowance to loans
  • 1.75%Loss allowance to noncurrent loans
  • 63.60%Noncurrent assets plus other real estate owned to assets
  • 2.90%Noncurrent loans to loans
  • 2.75%Net loans and leases to deposits
  • 71.03%Net loans and leases to core deposits
  • 75.60%Equity capital to assets
  • 6.10%Core capital (leverage) ratio
  • 6.79%Tier 1 risk-based capital ratio
  • 11.04%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $690,294Average earning assets
  • $43,671Average equity
  • $636,542Average loans

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