Somerset Trust Company in Somerset, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Somerset Trust Company - Overview

  • General
  • FDIC Certificate #: 11112
    Status: Active
    Federal Reserve ID: 212522
    Bank Holding Company (Regulatory Top Holder): Somerset Trust Holding Company (RSSDID: 2914857, Location: Somerset, PA)
    Date Established: January 01, 1889
    WWW: http://www.somersettrust.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 19 (Domestic: 19, Interstate: No)
    OTS Docket #: 9306
    FDIC's unique #: 7096
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: 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: January 01, 1934
    Last Structure Change Effective Date: December 15, 2008
    Last Structure Change Process Date: January 14, 2009
    Last Data Update: January 14, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 151 West Main Street, Somerset, PA 15501
    County: Somerset
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Wexford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Johnstown, PA (#3680)
    Core Based Statistical Area (CBSA): Somerset, PA (#43740)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Institution Withdraws from FRS (Federal Reserve System)
    Change in Primary Regulatory Agency
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $715.4 mil
    Equity capital: $59.7 mil
    Deposits held in domestic offices: $603.6 mil
    Return on assets (ROA): 1.10% ($7.9 mil)
    Quarterly return on assets: 0.99% ($7.1 mil)
    Return on Equity (ROE): 13.91% ($8.3 mil)
    Quarterly return on equity: 11.68% ($7.0 mil)
    Net income: $7.4 mil
    Quarterly Net income: $1.7 mil
    Pretax return on assets: 1.28% ($9,156.8 mil)
    Quarterly Pretax return on assets: 1.07% ($7,654.5 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
  • 242Total employees (full-time equivalent)
  • $715,376Total assets
  • $25,445Cash and due from depository institutions
  • $6,614Interest-bearing balances
  • $259,819Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $390,498Net loans & leases
  • $5,667Loan loss allowance
  • $0Trading account assets
  • $12,944Bank premises and fixed assets
  • $1,150Other real estate owned
  • $489Goodwill and other intangibles
  • $715,376Life insurance assets
  • $25,031All other assets
  • $655,692Total liabilities and capital
  • $603,586Total liabilities
  • $498,713Total deposits
  • $603,586Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $42,225Trading liabilities
  • $0Other borrowed funds
  • $9,881Subordinated debt
  • $59,684All other liabilities
  • $59,684Total equity capital
  • $59,684Total bank equity capital
  • $0Perpetual preferred stock
  • $613Common stock
  • $2,502Surplus
  • $56,569Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $3,059Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,982Income earned, not collected on loans
  • $21Earning assets
  • $3,908Long-term assets (5+ years)
  • $656,931Average Assets, year-to-date
  • $372,728Average Assets, quarterly
  • $674,450Volatile liabilities
  • $704,560Insider loans
  • $488,607FHLB advances
  • $705,564Loans and leases held for sale
  • $13,269Unused loan commitments
  • $13,269Tier 1 (core) risk-based capital
  • $58,821Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $121,103Restructured Loans and leases
  • $3,982Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $32,952Total interest income
  • $5,958Total interest expense
  • $26,994Net interest income
  • $1,100Provision for loan and lease losses
  • $7,263Total noninterest income
  • $1,477Fiduciary activities
  • $1,262Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,524Additional noninterest income
  • $24,949Total noninterest expense
  • $13,069Salaries and employee benefits
  • $2,587Premises and equipment expense
  • $9,293Additional noninterest expense
  • $8,208Pre-tax net operating income
  • $435Securities gains (losses)
  • $1,222Applicable income taxes
  • $7,421Income before extraordinary items
  • $0Extraordinary gains - net
  • $7,421Net income attributable to bank
  • $0Net charge-offs
  • $7,421Cash dividends
  • $870Sale, conversion, retirement of capital stock, net
  • $1,740Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.37%Yield on earning assets
  • 0.97%Cost of funding earning assets
  • 4.40%Net interest margin
  • 1.18%Noninterest income to earning assets
  • 4.07%Noninterest expense to earning assets
  • 1.04%Net operating income to assets
  • 1.10%Return on assets (ROA)
  • 1.28%Pretax return on assets
  • 13.91%Return on equity (ROE)
  • 10.65%Retained earnings to average equity (YTD only)
  • 0.24%Net charge-offs to loans
  • 126.44%Credit loss provision to net charge-offs
  • 10.70%Efficiency ratio
  • 72,829Assets per employee
  • 2.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 23.45%Loss allowance to loans
  • 1.43%Loss allowance to noncurrent loans
  • 190.04%Noncurrent assets plus other real estate owned to assets
  • 0.58%Noncurrent loans to loans
  • 0.75%Net loans and leases to deposits
  • 64.70%Net loans and leases to core deposits
  • 68.45%Equity capital to assets
  • 8.34%Core capital (leverage) ratio
  • 8.34%Tier 1 risk-based capital ratio
  • 12.04%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $674,450Average earning assets
  • $53,335Average equity
  • $613,660Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $414,449Managed Assets
  • 1Number of Accounts
  • $384,974Personal trust and agency accounts
  • $197,107Employee benefit-defined contribution accounts
  • $17,929Employee benefit-defined benefit accounts
  • $33,758Other retirement accounts
  • $35,120Corporate trust and agency accounts
  • $14,707Investment management agency accounts
  • $24,925Other fiduciary accounts
  • $44,129Fiduciary accounts held in foreign offices
  • $17,299Non-managed Assets
  • 1899Number of Accounts
  • $0Personal trust and agency accounts
  • $34,347Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $29,475Other retirement accounts
  • $6,476Corporate trust and agency accounts
  • $863Other fiduciary accounts
  • $9,755Fiduciary accounts held in foreign offices

List of branches

  • 19 Pennsylvania Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07096Somerset Trust Company151 West Main Street, Somerset, PA 15501January 01, 1889Full Service Brick and Mortar
    2224030Richland Branch1416 Scalp Avenue, Johnstown, PA 15904October 09, 1974Full Service Brick and Mortar
    3224031Somerset Plaza BranchR.D. 2, Route 601, Somerset, PA 15501November 19, 1982Full Service Brick and Mortar
    5224033Berlin Branch420 Main Street, Berlin, PA 15530June 24, 1991Full Service Brick and Mortar
    6224034Johnstown Office116 Market Street, Johnstown, PA 15901September 24, 1998Full Service Brick and Mortar
    7224035Glades Pike Office4185 Glades Pike, Somerset, PA 15501October 26, 1998Full Service Brick and Mortar
    8224036Hooversville Branch803 Barn Street, Hooversville, PA 15936November 23, 1999Full Service Brick and Mortar
    9357049Meyersdale Office Branch151 Center Street, Meyersdale, PA 15552July 02, 1999Full Service Brick and Mortar
    10361905Confluence Office Branch612 Logan Place, Confluence, PA 15424October 26, 2000Full Service Brick and Mortar
    13365303Giant Eagle Branch344 Goucher Street, Johnstown, PA 15905November 01, 2001Limited Service Facility
    14446241Somerset Crossing Branch2028 North Center Ave, Somerset, PA 15501December 19, 2005Full Service Retail
    15453444Meyersdale Southside Branch7109 Mason Dixon Highway, Meyersdale, PA 15552October 26, 2000Limited Service Facility
    16453445Allegheny Lutheran Home Branch807 Goucher Street, Johnstown, PA 15905Febuary 20, 2001Limited Service Facility
    17509364Vinco Branch2690 William Penn Ave, Johnstown, PA 15909Febuary 01, 2010Full Service Brick and Mortar
    18510538Champion Branch1446 County Line Rd, Champion, PA 15622October 30, 2009Full Service Brick and Mortar
    19513634Westmont Branch1739 Lyter Drive, Johnstown, PA 15905October 18, 2010Full Service Brick and Mortar
    20515758Ligonier Storefront128 W Main Street, Ligonier, PA 15658January 03, 2011Full Service Brick and Mortar
    21526957Ligonier Branch228 W. Main Street, Ligonier, PA 15658October 31, 2011Full Service Brick and Mortar
    22527648Fishertown Branch Office2095 Quaker Valley Road, Fishertown, PA 15539December 27, 2011Full Service Retail

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