RiverBank in North Andover, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 30, 2010

  • RiverBank in North Andover, Massachusetts (MA)
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RiverBank - Overview

  • General
  • FDIC Certificate #: 23288
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: People's United Bank (#27334)
    Federal Reserve ID: 911405
    Date Established: March 10, 1868
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Interstate: No)
    OTS Docket #: 7762
    FDIC's unique #: 16321
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 02, 1981
    Last Structure Change Effective Date: November 30, 2010
    Last Structure Change Process Date: January 05, 2011
    Last Data Update: January 05, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 30 Massachusetts Avenue, North Andover, MA 1845
    County: Essex
    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): Lawrence, MA-NH (#4160)
    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: Peabody, MA (#37764)
  • Financial Summary
  • Total assets: $780.4 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, 2009)

  • Dollar figures in thousands
  • 99Total employees (full-time equivalent)
  • $816,598Total assets
  • $8,615Cash and due from depository institutions
  • $2Interest-bearing balances
  • $230,108Securities
  • $6,597Federal funds sold & reverse repurchase agreements
  • $529,451Net loans & leases
  • $7,168Loan loss allowance
  • $0Trading account assets
  • $7,209Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $11,120Life insurance assets
  • $34,618All other assets
  • $816,598Total liabilities and capital
  • $757,042Total liabilities
  • $494,592Total deposits
  • $460,206Interest-bearing deposits
  • $494,592Deposits held in domestic offices
  • 83.43%% insured (estimated)
  • $47,111Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $205,971Other borrowed funds
  • $6,000Subordinated debt
  • $3,368All other liabilities
  • $59,556Total equity capital
  • $59,556Total bank equity capital
  • $59,556Perpetual preferred stock
  • $0Common stock
  • $500Surplus
  • $58,280Undivided profits
  • Memoranda
  • $776Noncurrent loans and leases
  • $101,927Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,003Earning assets
  • $552Long-term assets (5+ years)
  • $2,727Average Assets, year-to-date
  • $766,158Average Assets, quarterly
  • $484,470Volatile liabilities
  • $790,288Insider loans
  • $811,776FHLB advances
  • $176,755Loans and leases held for sale
  • $1,700Unused loan commitments
  • $205,971Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $101,927Total unused commitments
  • $2,272Restructured Loans and leases
  • $13,168Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $40,888Total interest income
  • $21,368Total interest expense
  • $19,520Net interest income
  • $1,640Provision for loan and lease losses
  • $2,045Total noninterest income
  • $0Fiduciary activities
  • $940Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,105Additional noninterest income
  • $13,946Total noninterest expense
  • $7,083Salaries and employee benefits
  • $1,647Premises and equipment expense
  • $5,216Additional noninterest expense
  • $5,979Pre-tax net operating income
  • $1,832Securities gains (losses)
  • $2,704Applicable income taxes
  • $5,107Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,107Net income attributable to bank
  • $0Net charge-offs
  • $5,107Cash dividends
  • $357Sale, conversion, retirement of capital stock, net
  • $10,700Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.49%Yield on earning assets
  • 2.87%Cost of funding earning assets
  • 2.62%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 1.87%Noninterest expense to earning assets
  • 0.50%Net operating income to assets
  • 0.65%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 7.78%Return on equity (ROE)
  • -8.52%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 459.38%Credit loss provision to net charge-offs
  • 21.34%Efficiency ratio
  • 64,670Assets per employee
  • 8.25%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 209.52%Loss allowance to loans
  • 1.34%Loss allowance to noncurrent loans
  • 119.41%Noncurrent assets plus other real estate owned to assets
  • 0.74%Noncurrent loans to loans
  • 1.12%Net loans and leases to deposits
  • 107.05%Net loans and leases to core deposits
  • 133.72%Equity capital to assets
  • 7.29%Core capital (leverage) ratio
  • 6.85%Tier 1 risk-based capital ratio
  • 9.57%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $790,288Average earning assets
  • $65,631Average equity
  • $744,325Average loans

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