Skowhegan Savings Bank in Skowhegan, Maine (ME)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Skowhegan Savings Bank in Skowhegan, Maine (ME)
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Skowhegan Savings Bank - Overview

  • General
  • FDIC Certificate #: 19532
    Status: Active
    Federal Reserve ID: 401906
    Date Established: October 02, 1869
    WWW: http://www.skowsavings.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 13 (Domestic: 12, Interstate: No)
    OTS Docket #: 10566
    FDIC's unique #: 13332
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: January 01, 1966
    Last Structure Change Effective Date: August 19, 2010
    Last Structure Change Process Date: September 29, 2010
    Last Data Update: September 29, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 7 Elm Street, Skowhegan, ME 4976
    County: Somerset
    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
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $448.1 mil
    Equity capital: $65.1 mil
    Deposits held in domestic offices: $311.2 mil
    Return on assets (ROA): 0.68% ($3.0 mil)
    Quarterly return on assets: 0.80% ($3.6 mil)
    Return on Equity (ROE): 4.85% ($3.2 mil)
    Quarterly return on equity: 5.59% ($3.6 mil)
    Net income: $3.1 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 0.90% ($4,033.3 mil)
    Quarterly Pretax return on assets: 0.96% ($4,302.2 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
  • 109Total employees (full-time equivalent)
  • $448,147Total assets
  • $14,384Cash and due from depository institutions
  • $7,870Interest-bearing balances
  • $110,128Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $290,412Net loans & leases
  • $2,885Loan loss allowance
  • $0Trading account assets
  • $8,149Bank premises and fixed assets
  • $1,908Other real estate owned
  • $2,660Goodwill and other intangibles
  • $448,147Life insurance assets
  • $20,506All other assets
  • $383,085Total liabilities and capital
  • $311,188Total liabilities
  • $259,763Total deposits
  • $311,188Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $67,629Trading liabilities
  • $0Other borrowed funds
  • $4,268Subordinated debt
  • $65,062All other liabilities
  • $65,062Total equity capital
  • $65,062Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $15,000Surplus
  • $50,062Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,438Income earned, not collected on loans
  • $0Earning assets
  • $1,516Long-term assets (5+ years)
  • $408,410Average Assets, year-to-date
  • $246,001Average Assets, quarterly
  • $450,348Volatile liabilities
  • $448,224Insider loans
  • $263,372FHLB advances
  • $448,831Loans and leases held for sale
  • $11,322Unused loan commitments
  • $11,322Tier 1 (core) risk-based capital
  • $58,333Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,896Restructured Loans and leases
  • $1,685Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $20,077Total interest income
  • $5,494Total interest expense
  • $14,583Net interest income
  • $64Provision for loan and lease losses
  • $2,140Total noninterest income
  • $0Fiduciary activities
  • $506Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,634Additional noninterest income
  • $12,361Total noninterest expense
  • $6,521Salaries and employee benefits
  • $1,998Premises and equipment expense
  • $3,842Additional noninterest expense
  • $4,298Pre-tax net operating income
  • -$251Securities gains (losses)
  • $995Applicable income taxes
  • $3,052Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,052Net income attributable to bank
  • $0Net charge-offs
  • $3,052Cash dividends
  • $441Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.90%Yield on earning assets
  • 1.34%Cost of funding earning assets
  • 3.56%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 3.02%Noninterest expense to earning assets
  • 0.72%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.90%Pretax return on assets
  • 4.85%Return on equity (ROE)
  • 4.85%Retained earnings to average equity (YTD only)
  • 0.15%Net charge-offs to loans
  • 14.51%Credit loss provision to net charge-offs
  • 9.89%Efficiency ratio
  • 72,929Assets per employee
  • 4.11%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.98%Loss allowance to noncurrent loans
  • 38.79%Noncurrent assets plus other real estate owned to assets
  • 2.09%Noncurrent loans to loans
  • 2.54%Net loans and leases to deposits
  • 93.32%Net loans and leases to core deposits
  • 95.13%Equity capital to assets
  • 14.52%Core capital (leverage) ratio
  • 13.00%Tier 1 risk-based capital ratio
  • 22.15%Total risk-based capital ratio
  • Memoranda
  • $24Average assets
  • $450,348Average earning assets
  • $62,916Average equity
  • $409,669Average loans

Bank Assets Sold and Securitized (December 31, 2011)

  • Dollar figures in thousands
  • Principal balance with servicing or other recourse retained
  • $3231-4 family residential loans
  • $0Home equity lines
  • $0Credit cards receivables
  • $0Auto loans
  • $0Other consumer loans
  • $0Commercial and industrial loans

List of branches

  • 13 Maine Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    013332Skowhegan Savings Bank7 Elm Street, Skowhegan, ME 4976October 02, 1869Full Service Brick and Mortar
    1248716Bingham Branch284 Main Street, Bingham, ME 4920October 28, 1974Full Service Brick and Mortar
    2248717Dexter Branch81-83 Church Street, Dexter, ME 4930October 15, 1974Full Service Brick and Mortar
    3248718Madison Branch188 Main Street, Madison, ME 4950Febuary 07, 1977Full Service Brick and Mortar
    4248719East Front Street Branch78 Waterville Road, Skowhegan, ME 4976June 07, 1982Full Service Brick and Mortar
    5248720Hunnewell BranchHunnewell Avenue, Pittsfield, ME 4967October 19, 1987Full Service Brick and Mortar
    6248721Athens Elementary School BranchElm Street, Athens, ME 4912December 23, 1997Limited Service Messenger
    7226042Fairfield Branch92 Main Street, Fairfield, ME 4937October 09, 1933Full Service Brick and Mortar
    8226051Norridgewock Branch9 Main Street, Norridgewock, ME 4957April 06, 1964Full Service Brick and Mortar
    10226078Belgrade Branch940 Augusta Road, Belgrade, ME 4917June 01, 1988Full Service Brick and Mortar
    13363701Livermore Elementary School Branch107 Gibbs Mill Road, Livermore Falls, ME 4254May 15, 2002Limited Service Messenger
    14250151Jackman BranchNichols And Canada Roads, Jackman, ME 4945July 22, 1985Full Service Brick and Mortar
    15529281Skowhegan Area High School Branch61 Academy Circle, Skowhegan, ME 4976Febuary 28, 2012

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