Start Community Bank in New Haven, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Start Community Bank in New Haven, Connecticut (CT)
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Start Community Bank - Overview

  • General
  • FDIC Certificate #: 58952
    Status: Active
    Federal Reserve ID: 3843392
    Bank Holding Company (Regulatory Top Holder): First City Fund Corporation (RSSDID: 4151012, Location: New Haven, CT)
    Date Established: December 20, 2010
    WWW: http://www.startbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 481671
    Numeric code: 13
    Regulator: FED
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: December 20, 2010
    Last Structure Change Effective Date: April 03, 2012
    Last Structure Change Process Date: April 03, 2012
    Last Data Update: April 03, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 299 Whalley Avenue, New Haven, CT 6510
    County: New Haven
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): New Haven-Meriden, CT (#5480)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): New Haven-Milford, CT (#35300)
    CBSA Metro Statistical Area: New Haven-Milford, CT (#35300)
  • Financial Summary
  • Total assets: $28.2 mil
    Equity capital: $10.1 mil
    Deposits held in domestic offices: $17.5 mil
    Return on assets (ROA): -11.05% (-$3.1 mil)
    Quarterly return on assets: -8.90% (-$2.5 mil)
    Return on Equity (ROE): -22.75% (-$2.3 mil)
    Quarterly return on equity: -23.73% (-$2.4 mil)
    Net income: -$2.6 mil
    Quarterly Net income: -$0.6 mil
    Pretax return on assets: -11.05% (-$3,116.8 mil)
    Quarterly Pretax return on assets: -8.90% (-$2,510.3 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 19Total employees (full-time equivalent)
  • $28,206Total assets
  • $2,485Cash and due from depository institutions
  • $1,988Interest-bearing balances
  • $14,929Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $8,681Net loans & leases
  • $85Loan loss allowance
  • $0Trading account assets
  • $1,517Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $28,206Life insurance assets
  • $594All other assets
  • $18,082Total liabilities and capital
  • $17,527Total liabilities
  • $16,542Total deposits
  • $17,527Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $350Trading liabilities
  • $0Other borrowed funds
  • $205Subordinated debt
  • $10,124All other liabilities
  • $10,124Total equity capital
  • $10,124Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $12,977Surplus
  • $-2,853Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $71Long-term assets (5+ years)
  • $25,598Average Assets, year-to-date
  • $13,742Average Assets, quarterly
  • $23,312Volatile liabilities
  • $27,921Insider loans
  • $8,744FHLB advances
  • $27,456Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,014Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $790Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $407Total interest income
  • $161Total interest expense
  • $246Net interest income
  • $100Provision for loan and lease losses
  • $46Total noninterest income
  • $0Fiduciary activities
  • $10Service charges on deposit accounts
  • $0Trading account gains & fees
  • $36Additional noninterest income
  • $2,862Total noninterest expense
  • $1,507Salaries and employee benefits
  • $439Premises and equipment expense
  • $916Additional noninterest expense
  • -$2,670Pre-tax net operating income
  • $95Securities gains (losses)
  • $0Applicable income taxes
  • -$2,575Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,575Net income attributable to bank
  • $0Net charge-offs
  • -$2,575Cash dividends
  • $15Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 1.97%Yield on earning assets
  • 0.78%Cost of funding earning assets
  • 1.19%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 13.89%Noninterest expense to earning assets
  • -11.45%Net operating income to assets
  • -11.05%Return on assets (ROA)
  • -11.05%Pretax return on assets
  • -22.75%Return on equity (ROE)
  • -22.75%Retained earnings to average equity (YTD only)
  • 0.51%Net charge-offs to loans
  • 666.67%Credit loss provision to net charge-offs
  • -171.33%Efficiency ratio
  • 980,137Assets per employee
  • 1.48%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 49.53%Net loans and leases to core deposits
  • 55.38%Equity capital to assets
  • 35.89%Core capital (leverage) ratio
  • 36.47%Tier 1 risk-based capital ratio
  • 114.52%Total risk-based capital ratio
  • Memoranda
  • $115Average assets
  • $23,312Average earning assets
  • $11,318Average equity
  • $20,609Average loans

List of branches

  • 2 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0481671Start Community Bank299 Whalley Avenue, New Haven, CT 6510December 20, 2010Full Service Brick and Mortar
    1516275Grand Ave Branch258 Grand Ave, New Haven, CT 6513January 25, 2011Full Service Brick and Mortar

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