Spencer Savings Bank in Spencer, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Spencer Savings Bank - Overview

  • General
  • FDIC Certificate #: 90282
    Status: Active
    Federal Reserve ID: 447100
    Bank Holding Company (Regulatory Top Holder): Spencer Mhc (RSSDID: 3547010, Location: Spencer, MA)
    Date Established: April 05, 1871
    WWW: http://www.spencersavingsbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 7953
    FDIC's unique #: 17872
    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: July 08, 1985
    Last Structure Change Effective Date: March 03, 2008
    Last Structure Change Process Date: March 03, 2008
    Last Data Update: March 03, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 176 Main Street, Spencer, MA 1562
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240)
    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): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $375.2 mil
    Equity capital: $49.3 mil
    Deposits held in domestic offices: $295.7 mil
    Return on assets (ROA): 0.33% ($1.2 mil)
    Quarterly return on assets: 0.24% ($0.9 mil)
    Return on Equity (ROE): 2.62% ($1.3 mil)
    Quarterly return on equity: 1.82% ($0.9 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.39% ($1,463.4 mil)
    Quarterly Pretax return on assets: 0.32% ($1,200.7 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
  • 88Total employees (full-time equivalent)
  • $375,219Total assets
  • $27,480Cash and due from depository institutions
  • $21,464Interest-bearing balances
  • $48,121Securities
  • $54Federal funds sold & reverse repurchase agreements
  • $274,583Net loans & leases
  • $2,372Loan loss allowance
  • $0Trading account assets
  • $3,897Bank premises and fixed assets
  • $932Other real estate owned
  • $0Goodwill and other intangibles
  • $375,219Life insurance assets
  • $20,152All other assets
  • $325,944Total liabilities and capital
  • $295,694Total liabilities
  • $285,848Total deposits
  • $295,694Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $26,000Trading liabilities
  • $0Other borrowed funds
  • $4,250Subordinated debt
  • $49,275All other liabilities
  • $49,275Total equity capital
  • $49,275Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $49,008Surplus
  • $267Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $10,855Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,644Income earned, not collected on loans
  • $81Earning assets
  • $1,300Long-term assets (5+ years)
  • $344,222Average Assets, year-to-date
  • $135,162Average Assets, quarterly
  • $381,510Volatile liabilities
  • $374,532Insider loans
  • $242,213FHLB advances
  • $370,257Loans and leases held for sale
  • $10,454Unused loan commitments
  • $10,454Tier 1 (core) risk-based capital
  • $49,008Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,096Restructured Loans and leases
  • $1,643Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,946Total interest income
  • $3,191Total interest expense
  • $12,755Net interest income
  • $1,845Provision for loan and lease losses
  • $2,643Total noninterest income
  • $0Fiduciary activities
  • $860Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,783Additional noninterest income
  • $12,060Total noninterest expense
  • $6,618Salaries and employee benefits
  • $986Premises and equipment expense
  • $4,456Additional noninterest expense
  • $1,493Pre-tax net operating income
  • -$11Securities gains (losses)
  • $210Applicable income taxes
  • $1,272Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,272Net income attributable to bank
  • $0Net charge-offs
  • $1,272Cash dividends
  • $2,115Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.56%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.65%Net interest margin
  • 0.76%Noninterest income to earning assets
  • 3.45%Noninterest expense to earning assets
  • 0.34%Net operating income to assets
  • 0.33%Return on assets (ROA)
  • 0.39%Pretax return on assets
  • 2.62%Return on equity (ROE)
  • 2.62%Retained earnings to average equity (YTD only)
  • 0.80%Net charge-offs to loans
  • 87.23%Credit loss provision to net charge-offs
  • 1.58%Efficiency ratio
  • 78,322Assets per employee
  • 4.26%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.86%Loss allowance to noncurrent loans
  • 51.08%Noncurrent assets plus other real estate owned to assets
  • 1.49%Noncurrent loans to loans
  • 1.68%Net loans and leases to deposits
  • 92.86%Net loans and leases to core deposits
  • 100.23%Equity capital to assets
  • 13.13%Core capital (leverage) ratio
  • 13.24%Tier 1 risk-based capital ratio
  • 20.23%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $381,510Average earning assets
  • $48,571Average equity
  • $349,438Average loans

List of branches

  • 5 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017872Spencer Savings Bank176 Main Street, Spencer, MA 1562April 05, 1871Full Service Brick and Mortar
    117884Warren Branch968 Main St., Warren, MA 1083January 01, 1882Full Service Brick and Mortar
    2291473Fair Plaza BranchFair Shopping Center, Route 9, Spencer, MA 1562March 06, 1982Full Service Brick and Mortar
    3291474Rutland Branch93 Main St., Rutland, MA 1543Febuary 19, 1985Full Service Brick and Mortar
    4357321Leiceister Branch121 South Main Street, Rochdale, MA 1542November 13, 1999Full Service Brick and Mortar

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