Sanford Institution for Savings in Sanford, Maine (ME)

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Sanford Institution for Savings
GeneralFDIC Certificate #: 17115
Status: Active
Federal Reserve ID: 111205
Bank Holding Company (Regulatory Top Holder): Sis Bancorp, Mhc (RSSDID: 3815054, Location: Sanford, ME)
Date Established: November 01, 1933
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 7706
FDIC's unique #: 11158
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: May 27, 1952
Last Structure Change Effective Date: January 30, 2009
Last Structure Change Process Date: January 06, 2010
Last Data Update: January 06, 2010
Data Source Date: April 05, 2012
LocationAddress: 900 Main Street, Sanford, ME 4073
County: York
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Concord
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Portland-Lewiston-South Portland, ME (#438)
Core Based Statistical Area (CBSA): Portland-South Portland-Biddeford, ME (#38860)
CBSA Metro Statistical Area: Portland-South Portland-Biddeford, ME (#38860)
History of ChangesParticipated in Absorption/Consolidation/Merger
Change in Entity Type
Financial SummaryTotal assets: $433.1 mil
Equity capital: $42.3 mil
Deposits held in domestic offices: $320.0 mil
Return on assets (ROA): 0.65% ($2.8 mil)
Quarterly return on assets: 0.40% ($1.7 mil)
Return on Equity (ROE): 6.62% ($2.8 mil)
Quarterly return on equity: 4.08% ($1.7 mil)
Net income: $2.8 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 0.93% ($4,027.9 mil)
Quarterly Pretax return on assets: 0.49% ($2,122.2 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)111
Total assets$433,106
Cash and due from depository institutions$18,557
Interest-bearing balances$16,346
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$333,522
Loan loss allowance $3,730
Trading account assets$0
Bank premises and fixed assets$10,334
Other real estate owned$50
Goodwill and other intangibles$536
All other assets$23,681
Life insurance assets$433,105
Total liabilities and capital$390,844
Total liabilities$319,991
Total deposits$295,480
Interest-bearing deposits$319,991
Deposits held in domestic offices$91
% insured (estimated)2716.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$60,658
Other borrowed funds $0
Subordinated debt $7,479
All other liabilities $42,261
Total equity capital$42,261
Total bank equity capital$42,261
Perpetual preferred stock$0
Common stock$0
Undivided profits $42,261
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $20,776
Income earned, not collected on loans $3,293
Earning assets $124
Long-term assets (5+ years) $1,718
Average Assets, year-to-date $396,294
Average Assets, quarterly $222,082
Volatile liabilities $428,782
Insider loans $433,953
FHLB advances $347,482
Loans and leases held for sale $437,641
Unused loan commitments $9,894
Tier 1 (core) risk-based capital $3,180
Tier 2 risk-based capital $44,383
Total risk weighted assets $0
Total unused commitments $6,714
Restructured Loans and leases $63,260
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $19,512
Total interest expense $5,333
Net interest income $14,179
Provision for loan and lease losses $529
Total noninterest income $2,893
Fiduciary activities $0
Service charges on deposit accounts $910
Trading account gains & fees $0
Additional noninterest income $1,983
Total noninterest expense $13,650
Salaries and employee benefits $8,002
Premises and equipment expense $1,044
Additional noninterest expense $4,604
Pre-tax net operating income $2,893
Securities gains (losses) $1,113
Applicable income taxes $1,213
Income before extraordinary items $2,793
Extraordinary gains - net $0
Net income attributable to bank $2,793
Net charge-offs $0
Cash dividends $2,793
Sale, conversion, retirement of capital stock, net $1,067
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.97%
Cost of funding earning assets 1.36%
Net interest margin 3.61%
Noninterest income to earning assets 0.74%
Noninterest expense to earning assets 3.48%
Net operating income to assets 0.47%
Return on assets (ROA) 0.65%
Pretax return on assets 0.93%
Return on equity (ROE) 6.62%
Retained earnings to average equity (YTD only) 6.62%
Net charge-offs to loans 0.32%
Credit loss provision to net charge-offs 49.58%
Efficiency ratio3.21%
Assets per employee$79,955
Cash dividends to net income (YTD only)3.90%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.11%
Noncurrent assets plus other real estate owned to assets 113.27%
Noncurrent loans to loans 0.77%
Net loans and leases to deposits0.98%
Net loans and leases to core deposits 104.23%
Equity capital to assets 113.01%
Core capital (leverage) ratio 9.76%
Tier 1 risk-based capital ratio 10.14%
Total risk-based capital ratio 12.77%
Average assets$14
Average earning assets$428,782
Average equity $42,180
Average loans $392,639
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8 Maine Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011158Sanford Institution For Savings900 Main Street, Sanford, ME 4073November 01, 1933Full Service Brick and Mortar
1240586Springvale Branch484 Main Street, Springvale, ME 4083October 20, 1980Full Service Brick and Mortar
3240588Sanford Branch1449 Main Street, Sanford, ME 4073August 14, 1995Full Service Brick and Mortar
4224440Limerick Branch31 Main Street, Limerick, ME 4048December 11, 1933Full Service Brick and Mortar
5224449Buxton Branch254 Long Plains Road, Buxton, ME 4093December 11, 1933Full Service Brick and Mortar
6358960York Branch408 U.S. Route 1, York, ME 3909October 04, 2000Full Service Retail
7359867Waterboro BranchShop 'n' Save Store, Route 202 And 5, Waterboro, ME 4087October 04, 2000Full Service Retail
8433486Wells Branch1149 Post Road, Wells, ME 4090December 08, 2004Full Service Brick and Mortar
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