Sterling Bank in Waltham, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 15, 1994

  • Sterling Bank in Waltham, Massachusetts (MA)
  • Show street view No street view available for this location

Sterling Bank - Overview

  • General
  • FDIC Certificate #: 90292
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet Bank of Massachusetts, National Association (#26305)
    Federal Reserve ID: 936109
    Date Established: March 19, 1853
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 13 (Interstate: No)
    OTS Docket #: 8421
    FDIC's unique #: 17881
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 03, 1985
    Last Structure Change Effective Date: August 15, 1994
    Last Structure Change Process Date: August 29, 1994
    Last Data Update: August 29, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: One Moody Street, Waltham, MA 2154
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North 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: Cambridge-Newton-Framingham, MA (#15764)
  • Financial Summary
  • Total assets: $1,038.2 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $202Total assets
  • $1,024,342Cash and due from depository institutions
  • $13,459Interest-bearing balances
  • $570Securities
  • $517,180Federal funds sold & reverse repurchase agreements
  • $3,122Net loans & leases
  • $472,576Loan loss allowance
  • $7,215Trading account assets
  • $0Bank premises and fixed assets
  • $7,611Other real estate owned
  • $1,970Goodwill and other intangibles
  • $7,044Life insurance assets
  • $1,380All other assets
  • $0Total liabilities and capital
  • $1,024,342Total liabilities
  • $953,483Total deposits
  • $625,335Interest-bearing deposits
  • $588,084Deposits held in domestic offices
  • 625335.00%% insured (estimated)
  • $92Federal funds purchased & repurchase agreements
  • $235,718Trading liabilities
  • $0Other borrowed funds
  • $81,467Subordinated debt
  • $0All other liabilities
  • $10,963Total equity capital
  • $10,963Total bank equity capital
  • $70,859Perpetual preferred stock
  • $0Common stock
  • $368Surplus
  • $43,114Undivided profits
  • Memoranda
  • $27,377Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,065Income earned, not collected on loans
  • $1,985Earning assets
  • $993,448Long-term assets (5+ years)
  • $386,740Average Assets, year-to-date
  • $977,352Average Assets, quarterly
  • $1,009,706Volatile liabilities
  • $364,263Insider loans
  • $2,391FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $41,982Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $62,973Total risk weighted assets
  • $513,277Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $66,853Total interest expense
  • $33,289Net interest income
  • $33,564Provision for loan and lease losses
  • $3,000Total noninterest income
  • $2,249Fiduciary activities
  • $0Service charges on deposit accounts
  • $1,245Trading account gains & fees
  • $0Additional noninterest income
  • $1,004Total noninterest expense
  • $23,125Salaries and employee benefits
  • $9,606Premises and equipment expense
  • $2,926Additional noninterest expense
  • $10,593Pre-tax net operating income
  • $9,688Securities gains (losses)
  • $11Applicable income taxes
  • $3,430Income before extraordinary items
  • $6,269Extraordinary gains - net
  • $0Net income attributable to bank
  • $6,269Net charge-offs
  • $2,718Cash dividends
  • $1,080Sale, conversion, retirement of capital stock, net
  • $142Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.07%Cost of funding earning assets
  • 3.52%Net interest margin
  • 3.55%Noninterest income to earning assets
  • 0.24%Noninterest expense to earning assets
  • 2.45%Net operating income to assets
  • 0.64%Return on assets (ROA)
  • 0.64%Pretax return on assets
  • 0.99%Return on equity (ROE)
  • 9.88%Retained earnings to average equity (YTD only)
  • 8.18%Net charge-offs to loans
  • 0.64%Credit loss provision to net charge-offs
  • 110.38%Efficiency ratio
  • 62,391Assets per employee
  • 5.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 17.23%Loss allowance to loans
  • 1.50%Loss allowance to noncurrent loans
  • 349.39%Noncurrent assets plus other real estate owned to assets
  • 0.38%Noncurrent loans to loans
  • 0.43%Net loans and leases to deposits
  • 75.57%Net loans and leases to core deposits
  • 81.72%Equity capital to assets
  • 6.92%Core capital (leverage) ratio
  • 6.38%Tier 1 risk-based capital ratio
  • 12.27%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $977,352Average earning assets
  • $63,438Average equity
  • $944,961Average loans

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