South Coastal Bank in Rockland, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • South Coastal Bank in Rockland, Massachusetts (MA)
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South Coastal Bank - Overview

  • General
  • FDIC Certificate #: 23345
    Status: Active
    Federal Reserve ID: 551904
    Bank Holding Company (Regulatory Top Holder): Mountainone Financial Partners, Mhc (RSSDID: 2634212, Location: North Adams, MA)
    Date Established: March 30, 1868
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 16363
    Numeric code: 41
    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: March 02, 1981
    Last Structure Change Effective Date: July 20, 2010
    Last Structure Change Process Date: July 20, 2010
    Last Data Update: July 20, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 279 Union Street, Rockland, MA 2370
    County: Plymouth
    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): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Boston-Quincy, MA (#14484)
  • Financial Summary
  • Total assets: $268.5 mil
    Equity capital: $19.8 mil
    Deposits held in domestic offices: $207.0 mil
    Return on assets (ROA): 0.30% ($0.8 mil)
    Quarterly return on assets: 0.23% ($0.6 mil)
    Return on Equity (ROE): 4.01% ($0.8 mil)
    Quarterly return on equity: 3.05% ($0.6 mil)
    Net income: $0.8 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.42% ($1,127.8 mil)
    Quarterly Pretax return on assets: 0.31% ($832.4 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
  • 49Total employees (full-time equivalent)
  • $268,520Total assets
  • $3,309Cash and due from depository institutions
  • $443Interest-bearing balances
  • $31,130Securities
  • $100Federal funds sold & reverse repurchase agreements
  • $214,966Net loans & leases
  • $2,364Loan loss allowance
  • $0Trading account assets
  • $4,222Bank premises and fixed assets
  • $123Other real estate owned
  • $0Goodwill and other intangibles
  • $268,520Life insurance assets
  • $14,670All other assets
  • $248,692Total liabilities and capital
  • $206,954Total liabilities
  • $169,744Total deposits
  • $206,954Interest-bearing deposits
  • $77Deposits held in domestic offices
  • 1813.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $34,850Trading liabilities
  • $3,000Other borrowed funds
  • $2,075Subordinated debt
  • $19,828All other liabilities
  • $19,828Total equity capital
  • $19,828Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $7,000Surplus
  • $12,778Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $20,015Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,320Income earned, not collected on loans
  • $0Earning assets
  • $753Long-term assets (5+ years)
  • $246,639Average Assets, year-to-date
  • $100,392Average Assets, quarterly
  • $261,742Volatile liabilities
  • $264,565Insider loans
  • $204,781FHLB advances
  • $263,648Loans and leases held for sale
  • $6,568Unused loan commitments
  • $6,568Tier 1 (core) risk-based capital
  • $18,993Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $93,062Restructured Loans and leases
  • $721Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,173Total interest income
  • $2,924Total interest expense
  • $8,249Net interest income
  • $717Provision for loan and lease losses
  • $1,713Total noninterest income
  • $0Fiduciary activities
  • $468Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,245Additional noninterest income
  • $8,387Total noninterest expense
  • $4,576Salaries and employee benefits
  • $697Premises and equipment expense
  • $3,114Additional noninterest expense
  • $858Pre-tax net operating income
  • $250Securities gains (losses)
  • $326Applicable income taxes
  • $782Income before extraordinary items
  • $0Extraordinary gains - net
  • $782Net income attributable to bank
  • $0Net charge-offs
  • $782Cash dividends
  • $1,061Sale, conversion, retirement of capital stock, net
  • $316Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.68%Yield on earning assets
  • 1.22%Cost of funding earning assets
  • 3.45%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 3.51%Noninterest expense to earning assets
  • 0.23%Net operating income to assets
  • 0.30%Return on assets (ROA)
  • 0.42%Pretax return on assets
  • 4.01%Return on equity (ROE)
  • 2.39%Retained earnings to average equity (YTD only)
  • 0.53%Net charge-offs to loans
  • 67.58%Credit loss provision to net charge-offs
  • 1.48%Efficiency ratio
  • 84,190Assets per employee
  • 5.48%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.41%Loss allowance to loans
  • 1.09%Loss allowance to noncurrent loans
  • 32.30%Noncurrent assets plus other real estate owned to assets
  • 2.77%Noncurrent loans to loans
  • 3.37%Net loans and leases to deposits
  • 103.87%Net loans and leases to core deposits
  • 128.55%Equity capital to assets
  • 7.38%Core capital (leverage) ratio
  • 7.20%Tier 1 risk-based capital ratio
  • 9.27%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $261,742Average earning assets
  • $19,486Average equity
  • $238,982Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016363South Coastal Bank279 Union Street, Rockland, MA 2370March 30, 1868Full Service Brick and Mortar
    1291441Scituate Branch54 Front Street, Scituate, MA 2066November 12, 1957Full Service Brick and Mortar
    3360820Quincy Branch77 Granite Street, Quincy, MA 2169November 06, 2000Full Service Brick and Mortar

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