FDIC Certificate #: 57138 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:NEW ENGLAND BANK (#35378) Federal Reserve ID: 2996536 Date Established: March 02, 2001 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 358490 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: March 02, 2001 Last Structure Change Effective Date: June 08, 2009 Last Structure Change Process Date: June 12, 2009 Last Data Update: June 12, 2009 Data Source Date: April 05, 2012
Location
Address: 286 Maple Avenue, Cheshire, CT 6410 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: $84.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
26Total employees (full-time equivalent)
$81,394Total assets
$7,974Cash and due from depository institutions
$7Interest-bearing balances
$4,186Securities
$0Federal funds sold & reverse repurchase agreements
$64,234Net loans & leases
$702Loan loss allowance
$0Trading account assets
$1,944Bank premises and fixed assets
$505Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,551All other assets
$81,394Total liabilities and capital
$75,433Total liabilities
$70,695Total deposits
$64,073Interest-bearing deposits
$70,695Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,503Other borrowed funds
$0Subordinated debt
$235All other liabilities
$5,961Total equity capital
$5,961Total bank equity capital
$5,961Perpetual preferred stock
$0Common stock
$9Surplus
$8,264Undivided profits
Memoranda
$-2,312Noncurrent loans and leases
$9,682Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,631Earning assets
$0Long-term assets (5+ years)
$324Average Assets, year-to-date
$68,427Average Assets, quarterly
$19,580Volatile liabilities
$77,863Insider loans
$82,989FHLB advances
$15,625Loans and leases held for sale
$852Unused loan commitments
$4,503Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$9,682Total unused commitments
$0Restructured Loans and leases
$728Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$4,477Total interest income
$2,192Total interest expense
$2,285Net interest income
$499Provision for loan and lease losses
$175Total noninterest income
$0Fiduciary activities
$130Service charges on deposit accounts
$0Trading account gains & fees
$45Additional noninterest income
$2,915Total noninterest expense
$1,459Salaries and employee benefits
$510Premises and equipment expense
$946Additional noninterest expense
-$954Pre-tax net operating income
$0Securities gains (losses)
-$368Applicable income taxes
-$586Income before extraordinary items
$0Extraordinary gains - net
-$586Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$468Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.34%Yield on earning assets
3.11%Cost of funding earning assets
3.24%Net interest margin
0.25%Noninterest income to earning assets
4.13%Noninterest expense to earning assets
-0.75%Net operating income to assets
-0.75%Return on assets (ROA)
-1.23%Pretax return on assets
-9.31%Return on equity (ROE)
-9.31%Retained earnings to average equity (YTD only)
0.72%Net charge-offs to loans
106.62%Credit loss provision to net charge-offs
-0.97%Efficiency ratio
118,496Assets per employee
3.13%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.08%Loss allowance to noncurrent loans
43.04%Noncurrent assets plus other real estate owned to assets
2.62%Noncurrent loans to loans
2.51%Net loans and leases to deposits
90.86%Net loans and leases to core deposits
114.36%Equity capital to assets
7.32%Core capital (leverage) ratio
5.48%Tier 1 risk-based capital ratio
7.28%Total risk-based capital ratio
Memoranda
$8Average assets
$77,863Average earning assets
$6,296Average equity
$70,571Average loans
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