Stoneham Savings Bank in Stoneham, Massachusetts (MA)



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Table of contents:
Stoneham Savings Bank
GeneralFDIC Certificate #: 90286
Status: Active
Federal Reserve ID: 5005
Date Established: March 28, 1855
WWW: http://www.stonesav.com
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 8422
FDIC's unique #: 17876
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: November 08, 1985
Last Structure Change Effective Date: Febuary 01, 2012
Last Structure Change Process Date: Febuary 03, 2012
Last Data Update: Febuary 03, 2012
Data Source Date: April 05, 2012
LocationAddress: 359 Main Street, Stoneham, MA 2180
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)
History of ChangesChange in Entity Type
Financial SummaryTotal assets: $330.8 mil
Equity capital: $15.6 mil
Deposits held in domestic offices: $257.7 mil
Return on assets (ROA): -1.70% (-$5.6 mil)
Quarterly return on assets: -5.41% (-$17.9 mil)
Return on Equity (ROE): -29.14% (-$4.7 mil)
Quarterly return on equity: -101.46% (-$16.2 mil)
Net income: -$6.0 mil
Quarterly Net income: -$4.5 mil
Pretax return on assets: -1.79% (-$5,921.9 mil)
Quarterly Pretax return on assets: -5.41% (-$17,897.9 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)
Total employees (full-time equivalent)96
Total assets$330,830
Cash and due from depository institutions$29,047
Interest-bearing balances$25,938
Securities$71,974
Federal funds sold & reverse repurchase agreements$1,202
Net loans & leases$200,341
Loan loss allowance $1,593
Trading account assets$0
Bank premises and fixed assets$6,589
Other real estate owned$2,649
Goodwill and other intangibles$3,207
All other assets$15,821
Life insurance assets$330,830
Total liabilities and capital$315,215
Total liabilities$257,680
Total deposits$225,384
Interest-bearing deposits$257,680
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$52,948
Other borrowed funds $0
Subordinated debt $4,587
All other liabilities $15,615
Total equity capital$15,615
Total bank equity capital$15,615
Perpetual preferred stock$0
Common stock$0
Surplus$19,921
Undivided profits $-4,306
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $13,081
Income earned, not collected on loans $5,329
Earning assets $0
Long-term assets (5+ years) $1,067
Average Assets, year-to-date $299,455
Average Assets, quarterly $142,701
Volatile liabilities $353,393
Insider loans $333,712
FHLB advances $189,752
Loans and leases held for sale $326,288
Unused loan commitments $7,914
Tier 1 (core) risk-based capital $7,914
Tier 2 risk-based capital $8,798
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $8,307
Derivatives$212
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,779
Total interest expense $4,716
Net interest income $10,063
Provision for loan and lease losses $3,486
Total noninterest income $1,385
Fiduciary activities $0
Service charges on deposit accounts $291
Trading account gains & fees $0
Additional noninterest income $1,094
Total noninterest expense $14,712
Salaries and employee benefits $6,984
Premises and equipment expense $1,931
Additional noninterest expense $5,797
Pre-tax net operating income -$6,750
Securities gains (losses) $416
Applicable income taxes -$342
Income before extraordinary items -$5,992
Extraordinary gains - net $0
Net income attributable to bank -$5,992
Net charge-offs $0
Cash dividends -$5,992
Sale, conversion, retirement of capital stock, net $3,721
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.68%
Cost of funding earning assets 1.49%
Net interest margin 3.19%
Noninterest income to earning assets 0.44%
Noninterest expense to earning assets 4.66%
Net operating income to assets -1.81%
Return on assets (ROA) -1.70%
Pretax return on assets -1.79%
Return on equity (ROE) -29.14%
Retained earnings to average equity (YTD only) -29.14%
Net charge-offs to loans 1.68%
Credit loss provision to net charge-offs 93.68%
Efficiency ratio-0.88%
Assets per employee$127,385
Cash dividends to net income (YTD only)3.45%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.79%
Noncurrent assets plus other real estate owned to assets 29.89%
Noncurrent loans to loans 2.41%
Net loans and leases to deposits2.64%
Net loans and leases to core deposits 77.75%
Equity capital to assets 81.72%
Core capital (leverage) ratio 4.72%
Tier 1 risk-based capital ratio 2.70%
Total risk-based capital ratio 4.64%
Memoranda
Average assets$6
Average earning assets$353,393
Average equity $20,562
Average loans $315,617
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6 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
017876Stoneham Savings Bank359 Main Street, Stoneham, MA 2180March 28, 1855Full Service Brick and Mortar
1291498Stoneham Branch88 Main Street, Stoneham, MA 2180April 01, 1976Full Service Brick and Mortar
3291500North Andover Branch601 Chickering Road, North Andover, MA 1845December 15, 1997Full Service Brick and Mortar
4334361Burlington Branch36 Cambridge Street, Burlington, MA 1803May 10, 2000Full Service Brick and Mortar
5359606Main Street Branch2171 Main Street, Tewksbury, MA 1876March 23, 2001Full Service Brick and Mortar
6428640Malden Branch443 Charles Street, Malden, MA 2148June 03, 2004Full Service Brick and Mortar
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