Seamen's Bank in Provincetown, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Seamen's Bank in Provincetown, Massachusetts (MA)
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Seamen's Bank - Overview

  • General
  • FDIC Certificate #: 90268
    Status: Active
    Federal Reserve ID: 418100
    Date Established: April 14, 1851
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 11279
    FDIC's unique #: 17858
    Numeric code: 42
    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: July 01, 1985
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 221 Commercial Street, Provincetown, MA 2657
    County: Barnstable
    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
    Core Based Statistical Area (CBSA): Barnstable Town, MA (#12700)
    CBSA Metro Statistical Area: Barnstable Town, MA (#12700)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $300.3 mil
    Equity capital: $33.4 mil
    Deposits held in domestic offices: $264.6 mil
    Return on assets (ROA): 0.43% ($1.3 mil)
    Quarterly return on assets: 0.39% ($1.2 mil)
    Return on Equity (ROE): 3.96% ($1.3 mil)
    Quarterly return on equity: 3.59% ($1.2 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.60% ($1,801.7 mil)
    Quarterly Pretax return on assets: 0.51% ($1,531.4 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, 2011)

  • Dollar figures in thousands
  • 61Total employees (full-time equivalent)
  • $300,279Total assets
  • $6,826Cash and due from depository institutions
  • $343Interest-bearing balances
  • $84,493Securities
  • $15,331Federal funds sold & reverse repurchase agreements
  • $183,865Net loans & leases
  • $2,405Loan loss allowance
  • $0Trading account assets
  • $3,840Bank premises and fixed assets
  • $245Other real estate owned
  • $0Goodwill and other intangibles
  • $300,279Life insurance assets
  • $5,679All other assets
  • $266,864Total liabilities and capital
  • $264,617Total liabilities
  • $237,182Total deposits
  • $264,617Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $100Trading liabilities
  • $0Other borrowed funds
  • $2,147Subordinated debt
  • $33,415All other liabilities
  • $33,415Total equity capital
  • $33,415Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $33,415Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,520Income earned, not collected on loans
  • $0Earning assets
  • $1,296Long-term assets (5+ years)
  • $284,032Average Assets, year-to-date
  • $85,835Average Assets, quarterly
  • $300,044Volatile liabilities
  • $308,579Insider loans
  • $226,251FHLB advances
  • $305,902Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $33,315Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $29,655Restructured Loans and leases
  • $2,907Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,980Total interest income
  • $1,958Total interest expense
  • $9,022Net interest income
  • -$30Provision for loan and lease losses
  • $832Total noninterest income
  • $0Fiduciary activities
  • $256Service charges on deposit accounts
  • $0Trading account gains & fees
  • $576Additional noninterest income
  • $8,513Total noninterest expense
  • $4,515Salaries and employee benefits
  • $782Premises and equipment expense
  • $3,216Additional noninterest expense
  • $1,371Pre-tax net operating income
  • $433Securities gains (losses)
  • $508Applicable income taxes
  • $1,296Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,296Net income attributable to bank
  • $0Net charge-offs
  • $1,296Cash dividends
  • $140Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.86%Yield on earning assets
  • 0.69%Cost of funding earning assets
  • 3.17%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 2.99%Noninterest expense to earning assets
  • 0.33%Net operating income to assets
  • 0.43%Return on assets (ROA)
  • 0.60%Pretax return on assets
  • 3.96%Return on equity (ROE)
  • 3.96%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • -21.43%Credit loss provision to net charge-offs
  • 9.58%Efficiency ratio
  • 86,391Assets per employee
  • 4.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 19.21%Noncurrent assets plus other real estate owned to assets
  • 4.25%Noncurrent loans to loans
  • 6.72%Net loans and leases to deposits
  • 69.48%Net loans and leases to core deposits
  • 71.91%Equity capital to assets
  • 11.13%Core capital (leverage) ratio
  • 10.89%Tier 1 risk-based capital ratio
  • 14.72%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $300,044Average earning assets
  • $32,713Average equity
  • $284,385Average loans

List of branches

  • 5 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017858Seamen's Bank221 Commercial Street, Provincetown, MA 2657April 14, 1851Full Service Brick and Mortar
    1291428North Truro Branch350 Route 6, North Truro, MA 2652July 17, 1985Full Service Brick and Mortar
    3193708Wellfleet Branch2746 Sthy 6, Wellfleet, MA 2667December 15, 1954Full Service Brick and Mortar
    4291429A & P Plaza Branch56 Shank Painter Road, Provincetown, MA 2657May 31, 1992Full Service Brick and Mortar
    5441410North Eastham Branch4355 State Highway, North Eastham, MA 2651June 13, 2005Full Service Brick and Mortar

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