Savings Institute Bank and Trust Company in Willimantic, Connecticut (CT)



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Savings Institute Bank and Trust Company
GeneralFDIC Certificate #: 18214
Status: Active
Federal Reserve ID: 480808
Date Established: January 01, 1842
WWW: http://www.savingsinstitute.com
Trust Powers Granted: Yes
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 21 (Domestic: 21, Interstate: No)
OTS Docket #: 17978
FDIC's unique #: 12134
Numeric code: 33
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 01, 1960
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 803 Main Street, Willimantic, CT 6226
County: Windham
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Hartford
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278)
Core Based Statistical Area (CBSA): Willimantic, CT (#48740)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $939.9 mil
Equity capital: $106.0 mil
Deposits held in domestic offices: $718.1 mil
Return on assets (ROA): 0.30% ($2.8 mil)
Quarterly return on assets: 0.31% ($2.9 mil)
Return on Equity (ROE): 2.79% ($3.0 mil)
Quarterly return on equity: 2.72% ($2.9 mil)
Net income: $2.8 mil
Quarterly Net income: $0.7 mil
Pretax return on assets: 0.43% ($4,041.6 mil)
Quarterly Pretax return on assets: 0.42% ($3,947.6 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)264
Total assets$939,901
Cash and due from depository institutions$43,132
Interest-bearing balances$30,150
Securities$222,232
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$624,092
Loan loss allowance $4,970
Trading account assets$0
Bank premises and fixed assets$12,651
Other real estate owned$976
Goodwill and other intangibles$5,283
All other assets$31,535
Life insurance assets$939,901
Total liabilities and capital$833,879
Total liabilities$718,091
Total deposits$695,141
Interest-bearing deposits$718,091
Deposits held in domestic offices$85
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$106,104
Other borrowed funds $0
Subordinated debt $9,684
All other liabilities $106,022
Total equity capital$106,022
Total bank equity capital$106,022
Perpetual preferred stock$0
Common stock$1
Surplus$65,243
Undivided profits $40,778
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $10,591
Earning assets $160
Long-term assets (5+ years) $3,436
Average Assets, year-to-date $876,474
Average Assets, quarterly $0
Volatile liabilities $925,300
Insider loans $933,680
FHLB advances $481,670
Loans and leases held for sale $935,698
Unused loan commitments $9,012
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $101,574
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $79,241
Derivatives$2,491
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $37,545
Total interest expense $11,349
Net interest income $26,196
Provision for loan and lease losses $1,558
Total noninterest income $10,441
Fiduciary activities $0
Service charges on deposit accounts $4,597
Trading account gains & fees $195
Additional noninterest income $5,649
Total noninterest expense $31,309
Salaries and employee benefits $15,993
Premises and equipment expense $8,179
Additional noninterest expense $7,137
Pre-tax net operating income $3,770
Securities gains (losses) $193
Applicable income taxes $1,188
Income before extraordinary items $2,775
Extraordinary gains - net $0
Net income attributable to bank $2,775
Net charge-offs $0
Cash dividends $2,775
Sale, conversion, retirement of capital stock, net $905
Net operating income $650
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.35%
Cost of funding earning assets 1.32%
Net interest margin 3.04%
Noninterest income to earning assets 1.21%
Noninterest expense to earning assets 3.63%
Net operating income to assets 0.29%
Return on assets (ROA) 0.30%
Pretax return on assets 0.43%
Return on equity (ROE) 2.79%
Retained earnings to average equity (YTD only) 2.14%
Net charge-offs to loans 0.15%
Credit loss provision to net charge-offs 172.15%
Efficiency ratio5.89%
Assets per employee$85,400
Cash dividends to net income (YTD only)3.56%
Condition Ratios (%)
Loss allowance to loans 23.42%
Loss allowance to noncurrent loans 0.79%
Noncurrent assets plus other real estate owned to assets 46.93%
Noncurrent loans to loans 1.23%
Net loans and leases to deposits1.68%
Net loans and leases to core deposits 86.91%
Equity capital to assets 89.45%
Core capital (leverage) ratio 11.28%
Tier 1 risk-based capital ratio 10.86%
Total risk-based capital ratio 21.09%
Memoranda
Average assets$22
Average earning assets$925,300
Average equity $99,461
Average loans $862,573
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$135,342
Number of Accounts1
Personal trust and agency accounts$104,739
Employee benefit-defined contribution accounts$41,886
Employee benefit-defined benefit accounts$4,549
Other retirement accounts$0
Corporate trust and agency accounts$15,832
Investment management agency accounts$0
Other fiduciary accounts$40,785
Fiduciary accounts held in foreign offices$1,687
Non-managed Assets$0
Number of Accounts281
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$15,832
Employee benefit-defined benefit accounts$0
Other retirement accounts$30,603
Corporate trust and agency accounts$765
Other fiduciary accounts$19,183
Fiduciary accounts held in foreign offices$105
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21 Connecticut Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012134Savings Institute Bank And Trust Com803 Main Street, Willimantic, CT 6226January 01, 1842Full Service Brick and Mortar
1244335Hebron Branch115 Main Street Route 66, Hebron, CT 6248May 04, 1974Full Service Brick and Mortar
2244336Lebanon Branch554 Exeter Road Route 207, Lebanon, CT 6249December 16, 1978Full Service Brick and Mortar
4244338Stonington Branch80 Stonington Road, Mystic, CT 6355May 09, 1987Full Service Brick and Mortar
7244403Moosup Branch344 Prospect St, Moosup, CT 6354October 30, 1985Full Service Brick and Mortar
8244404Brooklyn Branch536 Providence Road, Brooklyn, CT 6234Febuary 03, 1987Full Service Brick and Mortar
9244339Mansfield East Brook Mall Branch95 Storrs Road, Mansfield Center, CT 6250May 02, 1991Full Service Brick and Mortar
1039987Enfield Branch85 Freshwater Boulevard, Enfield, CT 6082Febuary 27, 1989Full Service Brick and Mortar
11244506Dayville Branch596 Hartford Pike, Dayville, CT 6241April 23, 1988Full Service Brick and Mortar
12244413Canterbury Branch180 Westminster Rd Route 14, Canterbury, CT 6331June 01, 1987Full Service Brick and Mortar
13244340Groton Branch971 Poquonnock Road, Groton, CT 6340October 16, 1997Full Service Brick and Mortar
14244341Norwich Branch108 Salem Tpke, Norwich, CT 6360January 05, 1998Full Service Retail
15243019West Main Branch60 Cantor Dr, Willimantic, CT 6226June 10, 1995Full Service Retail
16244342North Windham Wal-Mart Branch474 Boston Post Road, North Windham, CT 6256March 06, 2000Full Service Retail
17361226Lisbon Wal-Mart Supercenter Branch180 River Road Route 12, Lisbon, CT 6351August 22, 2001Full Service Retail
18461449Tolland Branch200 Merrow Road, Tolland, CT 6084June 30, 2006Full Service Brick and Mortar
19461450South Windsor Branch1000 Sullivan Avenue, South Windsor, CT 6074June 30, 2006Full Service Brick and Mortar
20461451East Lyme Branch303 Flanders Road, Unit 8, East Lyme, CT 6333March 13, 2006Full Service Brick and Mortar
21340750Colchester Branch63 Norwich Ave, Colchester, CT 6415October 10, 1998Full Service Brick and Mortar
22451219New London Branch15 Masonic Street, New London, CT 6320March 06, 2006Full Service Brick and Mortar
23478849East Hampton Branch50 E High St, East Hampton, CT 6424August 27, 2007Full Service Brick and Mortar
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