The Bank of Bennington in Bennington, Vermont (VT)



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The Bank of Bennington
GeneralFDIC Certificate #: 30350
Status: Active
Federal Reserve ID: 133579
Date Established: January 01, 1917
WWW: http://www.thebankofbennington.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 5214
FDIC's unique #: 43184
Numeric code: 33
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: Febuary 18, 1955
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 155 North Street, Bennington, VT 5201
County: Bennington
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
Core Based Statistical Area (CBSA): Bennington, VT (#13540)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $304.0 mil
Equity capital: $30.6 mil
Deposits held in domestic offices: $197.1 mil
Return on assets (ROA): 1.19% ($3.6 mil)
Quarterly return on assets: 2.60% ($7.9 mil)
Return on Equity (ROE): 12.44% ($3.9 mil)
Quarterly return on equity: 26.68% ($8.3 mil)
Net income: $3.5 mil
Quarterly Net income: $2.0 mil
Pretax return on assets: 1.52% ($4,620.3 mil)
Quarterly Pretax return on assets: 3.12% ($9,483.7 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)
Total employees (full-time equivalent)56
Total assets$303,964
Cash and due from depository institutions$9,308
Interest-bearing balances$4,954
Securities$25,720
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$250,737
Loan loss allowance $3,176
Trading account assets$0
Bank premises and fixed assets$6,204
Other real estate owned$40
Goodwill and other intangibles$101
All other assets$11,854
Life insurance assets$303,964
Total liabilities and capital$273,373
Total liabilities$197,053
Total deposits$176,235
Interest-bearing deposits$197,053
Deposits held in domestic offices$96
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$73,347
Other borrowed funds $0
Subordinated debt $2,973
All other liabilities $30,591
Total equity capital$30,591
Total bank equity capital$30,591
Perpetual preferred stock$0
Common stock$1
Surplus$0
Undivided profits $30,590
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,531
Earning assets $470
Long-term assets (5+ years) $1,107
Average Assets, year-to-date $281,411
Average Assets, quarterly $0
Volatile liabilities $297,256
Insider loans $303,704
FHLB advances $192,593
Loans and leases held for sale $303,954
Unused loan commitments $3,518
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $30,581
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $20,963
Derivatives$2,166
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $17,976
Total interest expense $4,271
Net interest income $13,705
Provision for loan and lease losses $1,440
Total noninterest income $1,576
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $1,576
Total noninterest expense $9,315
Salaries and employee benefits $5,221
Premises and equipment expense $1,617
Additional noninterest expense $2,477
Pre-tax net operating income $4,526
Securities gains (losses) $0
Applicable income taxes $994
Income before extraordinary items $3,532
Extraordinary gains - net $0
Net income attributable to bank $3,532
Net charge-offs $0
Cash dividends $3,532
Sale, conversion, retirement of capital stock, net $1,101
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 assets6.58%
Cost of funding earning assets 1.56%
Net interest margin 5.01%
Noninterest income to earning assets 0.58%
Noninterest expense to earning assets 3.41%
Net operating income to assets 1.19%
Return on assets (ROA) 1.19%
Pretax return on assets 1.52%
Return on equity (ROE) 12.44%
Retained earnings to average equity (YTD only) 12.44%
Net charge-offs to loans 0.44%
Credit loss provision to net charge-offs 130.79%
Efficiency ratio5.42%
Assets per employee$60,958
Cash dividends to net income (YTD only)5.43%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.25%
Noncurrent assets plus other real estate owned to assets 207.45%
Noncurrent loans to loans 0.52%
Net loans and leases to deposits0.60%
Net loans and leases to core deposits 127.24%
Equity capital to assets 131.11%
Core capital (leverage) ratio 10.06%
Tier 1 risk-based capital ratio 10.06%
Total risk-based capital ratio 15.88%
Memoranda
Average assets$17
Average earning assets$297,256
Average equity $28,383
Average loans $273,355
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4 Vermont Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
043184The Bank Of Bennington155 North Street, Bennington, VT 5201January 01, 1917Full Service Brick and Mortar
101464488Manchester Center Branch78 Center Hill Road, Manchester Center, VT 5255July 01, 2005Full Service Brick and Mortar
102492422Arlington Branch3198 Route 7a, Arlington, VT 5250June 30, 2008Full Service Brick and Mortar
103521954Phyllis Lane Branch32 Phyllis Lane, Bennington, VT 5201March 21, 2011Full Service Retail
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