Quincy Savings Bank in Quincy, Massachusetts (MA)



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Quincy Savings Bank
GeneralFDIC Certificate #: 23294
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Citizens Bank of Massachusetts (#18562)
Federal Reserve ID: 422004
Date Established: May 18, 1845
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 14 (Interstate: No)
OTS Docket #: 7739
FDIC's unique #: 16327
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: January 02, 1981
Last Structure Change Effective Date: January 06, 1995
Last Structure Change Process Date: January 25, 1995
Last Data Update: January 25, 1995
Data Source Date: April 05, 2012
LocationAddress: 1200 Hancock Street, Quincy, MA 2169
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)
Financial SummaryTotal assets: $831.2 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$276
Cash and due from depository institutions$831,178
Interest-bearing balances$33,593
Securities$10,100
Federal funds sold & reverse repurchase agreements$309,514
Net loans & leases$2,600
Loan loss allowance $444,681
Trading account assets$11,473
Bank premises and fixed assets$0
Other real estate owned$8,964
Goodwill and other intangibles$8,203
All other assets$2,802
Life insurance assets$20,821
Total liabilities and capital$0
Total liabilities$831,178
Total deposits$758,916
Interest-bearing deposits$746,000
Deposits held in domestic offices$697,811
% insured (estimated)746000.00%
Federal funds purchased & repurchase agreements $88
Trading liabilities$417
Other borrowed funds $0
Subordinated debt $6,075
All other liabilities $0
Total equity capital$6,424
Total bank equity capital$6,424
Perpetual preferred stock$72,262
Common stock$0
Surplus$5,480
Undivided profits $46,309
Memoranda
Noncurrent loans and leases $20,473
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,224
Earning assets $3,688
Long-term assets (5+ years) $766,895
Average Assets, year-to-date $285,596
Average Assets, quarterly $824,587
Volatile liabilities $829,796
Insider loans $77,022
FHLB advances $355
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $27,879
Tier 2 risk-based capital $0
Total risk weighted assets $75,502
Total unused commitments $497,524
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $52,432
Net interest income $22,315
Provision for loan and lease losses $30,117
Total noninterest income $1,250
Fiduciary activities $4,657
Service charges on deposit accounts $102
Trading account gains & fees $1,964
Additional noninterest income $88
Total noninterest expense $2,503
Salaries and employee benefits $24,429
Premises and equipment expense $11,274
Additional noninterest expense $2,733
Pre-tax net operating income $10,422
Securities gains (losses) $9,095
Applicable income taxes $468
Income before extraordinary items -$125
Extraordinary gains - net $9,688
Net income attributable to bank $0
Net charge-offs $9,688
Cash dividends $1,940
Sale, conversion, retirement of capital stock, net $980
Net operating income $545
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Performance and Condition Ratios (December 31, 1994)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 6.96%
Net interest margin 2.96%
Noninterest income to earning assets 4.00%
Noninterest expense to earning assets 0.62%
Net operating income to assets 3.24%
Return on assets (ROA) 1.12%
Pretax return on assets 1.17%
Return on equity (ROE) 1.16%
Retained earnings to average equity (YTD only) 13.72%
Net charge-offs to loans 12.33%
Credit loss provision to net charge-offs 0.41%
Efficiency ratio64.43%
Assets per employee$67,355
Cash dividends to net income (YTD only)3.01%
Condition Ratios (%)
Loss allowance to loans 10.12%
Loss allowance to noncurrent loans 2.52%
Noncurrent assets plus other real estate owned to assets 219.62%
Noncurrent loans to loans 1.62%
Net loans and leases to deposits1.15%
Net loans and leases to core deposits 59.61%
Equity capital to assets 66.13%
Core capital (leverage) ratio 8.69%
Tier 1 risk-based capital ratio 9.12%
Total risk-based capital ratio 15.18%
Memoranda
Average assets$16
Average earning assets$824,587
Average equity $70,633
Average loans $753,251
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