Salem Five Cents Savings Bank in Salem, Massachusetts (MA)

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Salem Five Cents Savings Bank routing number info

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Salem Five Cents Savings Bank
GeneralFDIC Certificate #: 23296
Status: Active
Federal Reserve ID: 618807
Bank Holding Company (Regulatory Top Holder): Salem Five Bancorp (RSSDID: 3365858, Location: Salem, MA)
Date Established: March 09, 1855
Trust Powers Granted: Yes
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 23 (Domestic: 23, Interstate: No)
OTS Docket #: 8342
FDIC's unique #: 16329
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: Commercial Lending Specialization
Date of Deposit Insurance: January 02, 1981
Last Structure Change Effective Date: July 11, 2011
Last Structure Change Process Date: July 11, 2011
Last Data Update: July 11, 2011
Data Source Date: April 05, 2012
LocationAddress: 71 Washington Street, Salem, MA 1970
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): 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: Peabody, MA (#37764)
History of ChangesChange in Trust Powers
Financial SummaryTotal assets: $2,876.6 mil
Equity capital: $285.4 mil
Deposits held in domestic offices: $2,019.1 mil
Return on assets (ROA): 0.76% ($21.9 mil)
Quarterly return on assets: 0.77% ($22.2 mil)
Return on Equity (ROE): 7.85% ($22.4 mil)
Quarterly return on equity: 7.93% ($22.6 mil)
Net income: $21.6 mil
Quarterly Net income: $5.6 mil
Pretax return on assets: 1.19% ($34,231.9 mil)
Quarterly Pretax return on assets: 1.26% ($36,245.5 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)
Total employees (full-time equivalent)500
Total assets$2,876,630
Cash and due from depository institutions$28,161
Interest-bearing balances$386
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$2,022,648
Loan loss allowance $19,695
Trading account assets$0
Bank premises and fixed assets$27,781
Other real estate owned$5,462
Goodwill and other intangibles$20,358
All other assets$91,427
Life insurance assets$2,876,630
Total liabilities and capital$2,591,253
Total liabilities$2,019,118
Total deposits$1,788,335
Interest-bearing deposits$2,019,118
Deposits held in domestic offices$81
% insured (estimated)44499.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$490,618
Other borrowed funds $0
Subordinated debt $37,018
All other liabilities $285,377
Total equity capital$285,377
Total bank equity capital$285,377
Perpetual preferred stock$0
Common stock$500
Undivided profits $-477
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $117,342
Income earned, not collected on loans $32,710
Earning assets $200
Long-term assets (5+ years) $9,009
Average Assets, year-to-date $2,703,827
Average Assets, quarterly $1,033,961
Volatile liabilities $2,839,172
Insider loans $2,902,199
FHLB advances $2,048,645
Loans and leases held for sale $2,878,518
Unused loan commitments $20,450
Tier 1 (core) risk-based capital $20,450
Tier 2 risk-based capital $278,161
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $492,335
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $126,049
Total interest expense $46,068
Net interest income $79,981
Provision for loan and lease losses $3,600
Total noninterest income $25,999
Fiduciary activities $0
Service charges on deposit accounts $4,046
Trading account gains & fees $0
Additional noninterest income $21,953
Total noninterest expense $72,354
Salaries and employee benefits $41,657
Premises and equipment expense $7,372
Additional noninterest expense $23,325
Pre-tax net operating income $30,026
Securities gains (losses) $3,902
Applicable income taxes $12,282
Income before extraordinary items $21,646
Extraordinary gains - net $0
Net income attributable to bank $21,646
Net charge-offs $0
Cash dividends $21,646
Sale, conversion, retirement of capital stock, net $3,954
Net operating income $500
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.73%
Cost of funding earning assets 1.73%
Net interest margin 3.00%
Noninterest income to earning assets 0.97%
Noninterest expense to earning assets 2.71%
Net operating income to assets 0.67%
Return on assets (ROA) 0.76%
Pretax return on assets 1.19%
Return on equity (ROE) 7.85%
Retained earnings to average equity (YTD only) 7.67%
Net charge-offs to loans 0.20%
Credit loss provision to net charge-offs 91.05%
Efficiency ratio8.50%
Assets per employee$67,976
Cash dividends to net income (YTD only)5.75%
Condition Ratios (%)
Loss allowance to loans 2.31%
Loss allowance to noncurrent loans 0.96%
Noncurrent assets plus other real estate owned to assets 60.21%
Noncurrent loans to loans 1.33%
Net loans and leases to deposits1.60%
Net loans and leases to core deposits 100.17%
Equity capital to assets 107.68%
Core capital (leverage) ratio 9.92%
Tier 1 risk-based capital ratio 9.66%
Total risk-based capital ratio 13.58%
Average assets$15
Average earning assets$2,839,172
Average equity $275,766
Average loans $2,666,779
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23 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016329Salem Five Cents Savings Bank71 Washington Street, Salem, MA 1970March 09, 1855Full Service Brick and Mortar
1291442Salem Branch424 Essex Street, Salem, MA 1970January 22, 1958Full Service Brick and Mortar
3291444South Hamilton Branch2 Bay Road, South Hamilton, MA 1982December 12, 1960Full Service Brick and Mortar
4291445Endicott Plaza Branch137 Endicott Street, Danvers, MA 1923September 09, 1974Full Service Brick and Mortar
5291446Swampscott Branch450 Paradise Road, Swampscott, MA 1907October 15, 1975Full Service Brick and Mortar
6291447Northshore Shopping Center BranchRoutes 114 And 128, Peabody, MA 1960September 25, 1980Full Service Brick and Mortar
8256166High Street Branch301 Newbury Street, Danvers, MA 1923January 19, 1989Full Service Brick and Mortar
9256167Square One Mall Branch1277 Broadway, Saugus, MA 1906August 17, 1994Full Service Brick and Mortar
10357184Directbanking Branch210 Essex Street, Salem, MA 1970November 01, 1999Full Service Cyber
12361296Boston Branch52 Congress Street, Boston, MA 2109October 10, 2000Full Service Brick and Mortar
13361297Lynn Branch20 State Street, Lynn, MA 1901June 28, 2001Full Service Brick and Mortar
14430454Malden Branch90 Highland Avenue, Malden, MA 2148January 02, 2004Full Service Brick and Mortar
15430455North Andover Branch532 Turnpike Street, North Andover, MA 1845June 28, 2004Full Service Brick and Mortar
16431695Marblehead Branch89 Pleasant Street, Marblehead, MA 1945June 28, 2004Full Service Brick and Mortar
17444143Beverly Branch495 Cabot Street, Beverly, MA 1915August 29, 2005Full Service Retail
22432907Peabody Branch19 Central Street, Peabody, MA 1960October 12, 2004Full Service Retail
23465622Middleton Branch100 South Main Street, Middleton, MA 1949July 24, 2006Full Service Brick and Mortar
24471460Boston Street Lynn Branch35 Boston Street, Lynn, MA 1904December 31, 2007Full Service Brick and Mortar
25471461Woburn Branch441 Main Street, Woburn, MA 1801August 30, 2007Full Service Brick and Mortar
26489977Reading Branch8 Walkers Brook Drive, Reading, MA 1867April 06, 2009Full Service Brick and Mortar
27493130Sudbury Branch19 Concord Road, Sudbury, MA 1776September 19, 2008Full Service Brick and Mortar
28514039Beverly Farms Branch19 West Street, Beverly, MA 1915October 12, 2010Full Service Brick and Mortar
29514913Stoneham Branch240 Main Street, Stoneham, MA 2180November 15, 2010Full Service Brick and Mortar
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