FDIC Certificate #: 18085 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Rockland Trust Company (#9712) Federal Reserve ID: 500407 Date Established: September 30, 1959 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 9 (Interstate: No) OTS Docket #: 13178 FDIC's unique #: 12007 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: September 30, 1959 Last Structure Change Effective Date: March 01, 2008 Last Structure Change Process Date: March 25, 2008 Last Data Update: March 25, 2008 Data Source Date: April 05, 2012
Location
Address: 100 Slades Ferry Avenue, Somerset, MA 2726 County: Bristol 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 Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480) Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148) Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300) CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
Financial Summary
Total assets: $603.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
122Total employees (full-time equivalent)
$603,286Total assets
$13,620Cash and due from depository institutions
$650Interest-bearing balances
$97,120Securities
$0Federal funds sold & reverse repurchase agreements
$457,813Net loans & leases
$4,661Loan loss allowance
$0Trading account assets
$7,505Bank premises and fixed assets
$0Other real estate owned
$2,173Goodwill and other intangibles
$12,660Life insurance assets
$25,055All other assets
$603,286Total liabilities and capital
$549,928Total liabilities
$393,660Total deposits
$317,253Interest-bearing deposits
$393,660Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$153,177Other borrowed funds
$0Subordinated debt
$3,091All other liabilities
$53,358Total equity capital
$53,358Total bank equity capital
$53,358Perpetual preferred stock
$0Common stock
$1,750Surplus
$24,829Undivided profits
Memoranda
$26,779Noncurrent loans and leases
$78,081Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,735Earning assets
$0Long-term assets (5+ years)
$2,177Average Assets, year-to-date
$555,583Average Assets, quarterly
$333,022Volatile liabilities
$606,152Insider loans
$602,912FHLB advances
$133,597Loans and leases held for sale
$8,847Unused loan commitments
$153,177Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$78,081Total unused commitments
$0Restructured Loans and leases
$4,813Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$36,511Total interest income
$17,187Total interest expense
$19,324Net interest income
$361Provision for loan and lease losses
$1,568Total noninterest income
$0Fiduciary activities
$247Service charges on deposit accounts
$0Trading account gains & fees
$1,321Additional noninterest income
$14,638Total noninterest expense
$7,724Salaries and employee benefits
$1,757Premises and equipment expense
$5,157Additional noninterest expense
$5,893Pre-tax net operating income
$516Securities gains (losses)
$2,315Applicable income taxes
$4,094Income before extraordinary items
$0Extraordinary gains - net
$4,094Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$18Sale, conversion, retirement of capital stock, net
$6,136Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.55%Yield on earning assets
3.08%Cost of funding earning assets
3.46%Net interest margin
0.28%Noninterest income to earning assets
2.62%Noninterest expense to earning assets
0.62%Net operating income to assets
0.68%Return on assets (ROA)
1.06%Pretax return on assets
7.82%Return on equity (ROE)
-3.90%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
2005.56%Credit loss provision to net charge-offs
347.44%Efficiency ratio
70,065Assets per employee
4.94%Cash dividends to net income (YTD only)
Condition Ratios (%)
149.88%Loss allowance to loans
1.01%Loss allowance to noncurrent loans
268.65%Noncurrent assets plus other real estate owned to assets
0.29%Noncurrent loans to loans
0.38%Net loans and leases to deposits
116.30%Net loans and leases to core deposits
138.90%Equity capital to assets
8.84%Core capital (leverage) ratio
8.46%Tier 1 risk-based capital ratio
10.87%Total risk-based capital ratio
Memoranda
$12Average assets
$606,152Average earning assets
$52,320Average equity
$557,696Average loans
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