The Bank of Mystic in Mystic, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 1995

  • The Bank of Mystic in Mystic, Connecticut (CT)
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The Bank of Mystic - Overview

  • General
  • FDIC Certificate #: 26992
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The Norwich Savings Society (#18249)
    Federal Reserve ID: 260103
    Date Established: June 19, 1987
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    OTS Docket #: 9185
    FDIC's unique #: 36421
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 19, 1987
    Last Structure Change Effective Date: April 01, 1995
    Last Structure Change Process Date: April 06, 1995
    Last Data Update: April 06, 1995
    Data Source Date: April 05, 2012
  • Location
  • Address: 12 Roosevelt Avenue, Mystic Packer Building, Mystic, CT 6355
    County: New London
    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
    Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
    CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
  • Financial Summary
  • Total assets: $66.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $27Total assets
  • $70,561Cash and due from depository institutions
  • $1,195Interest-bearing balances
  • $198Securities
  • $18,036Federal funds sold & reverse repurchase agreements
  • $250Net loans & leases
  • $49,239Loan loss allowance
  • $1,360Trading account assets
  • $0Bank premises and fixed assets
  • $450Other real estate owned
  • $332Goodwill and other intangibles
  • $1,059Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $70,561Total liabilities
  • $65,400Total deposits
  • $59,090Interest-bearing deposits
  • $53,394Deposits held in domestic offices
  • 59090.00%% insured (estimated)
  • $97Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $6,020Subordinated debt
  • $0All other liabilities
  • $290Total equity capital
  • $290Total bank equity capital
  • $5,161Perpetual preferred stock
  • $0Common stock
  • $5,125Surplus
  • $3,458Undivided profits
  • Memoranda
  • $-3,422Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,027Income earned, not collected on loans
  • $296Earning assets
  • $67,723Long-term assets (5+ years)
  • $1,928Average Assets, year-to-date
  • $68,525Average Assets, quarterly
  • $68,605Volatile liabilities
  • $10,878Insider loans
  • $1,629FHLB advances
  • $0Loans and leases held for sale
  • $603Unused loan commitments
  • $5,163Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $5,306Total risk weighted assets
  • $45,972Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $4,922Total interest expense
  • $2,155Net interest income
  • $2,767Provision for loan and lease losses
  • $109Total noninterest income
  • $990Fiduciary activities
  • $0Service charges on deposit accounts
  • $99Trading account gains & fees
  • $0Additional noninterest income
  • $891Total noninterest expense
  • $3,593Salaries and employee benefits
  • $1,566Premises and equipment expense
  • $455Additional noninterest expense
  • $1,572Pre-tax net operating income
  • $55Securities gains (losses)
  • $0Applicable income taxes
  • $10Income before extraordinary items
  • $45Extraordinary gains - net
  • $466Net income attributable to bank
  • $511Net charge-offs
  • $253Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $30Net operating income

Performance and Condition Ratios (December 31, 1994)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.61%Cost of funding earning assets
  • 3.33%Net interest margin
  • 4.28%Noninterest income to earning assets
  • 1.53%Noninterest expense to earning assets
  • 5.56%Net operating income to assets
  • 0.07%Return on assets (ROA)
  • 0.75%Pretax return on assets
  • 0.76%Return on equity (ROE)
  • 10.22%Retained earnings to average equity (YTD only)
  • 10.22%Net charge-offs to loans
  • 0.49%Credit loss provision to net charge-offs
  • 43.08%Efficiency ratio
  • 95,635Assets per employee
  • 2.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.69%Loss allowance to noncurrent loans
  • 132.42%Noncurrent assets plus other real estate owned to assets
  • 1.93%Noncurrent loans to loans
  • 2.03%Net loans and leases to deposits
  • 83.33%Net loans and leases to core deposits
  • 90.83%Equity capital to assets
  • 7.31%Core capital (leverage) ratio
  • 7.82%Tier 1 risk-based capital ratio
  • 11.54%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $68,525Average earning assets
  • $5,001Average equity
  • $64,642Average loans

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