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

This bank is inactive as of January 02, 1996

The Bank of Southeastern Connecticut in Waterford, Connecticut (CT)
Show street view No street view available for this location

The Bank of Southeastern Connecticut - Overview

General
FDIC Certificate #: 26330
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Norwich Savings Society (#18249)
Federal Reserve ID: 573009
Date Established: August 19, 1985
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 32836
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: August 19, 1985
Last Structure Change Effective Date: January 02, 1996
Last Structure Change Process Date: Febuary 09, 1996
Last Data Update: Febuary 09, 1996
Data Source Date: April 05, 2012
Location
Address: 716 Broad Street Extension, Waterford, CT 6385
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
Metropolitan Statistical Area (MSA): New London-Norwich, CT-RI (#5520)
Core Based Statistical Area (CBSA): Norwich-New London, CT (#35980)
CBSA Metro Statistical Area: Norwich-New London, CT (#35980)
Financial Summary
Total assets: $47.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$22Total assets
$46,989Cash and due from depository institutions
$3,390Interest-bearing balances
$135Securities
$999Federal funds sold & reverse repurchase agreements
$11,650Net loans & leases
$28,893Loan loss allowance
$2,533Trading account assets
$0Bank premises and fixed assets
$759Other real estate owned
$713Goodwill and other intangibles
$585Life insurance assets
$0All other assets
$0Total liabilities and capital
$46,989Total liabilities
$45,207Total deposits
$44,385Interest-bearing deposits
$32,247Deposits held in domestic offices
44385.00%% insured (estimated)
$87Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$592Subordinated debt
$0All other liabilities
$230Total equity capital
$230Total bank equity capital
$1,782Perpetual preferred stock
$0Common stock
$1,500Surplus
$2,649Undivided profits
Memoranda
$-2,367Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,020Income earned, not collected on loans
$249Earning assets
$41,677Long-term assets (5+ years)
$8,036Average Assets, year-to-date
$46,101Average Assets, quarterly
$47,064Volatile liabilities
$2,875Insider loans
$2,823FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,031Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$1,619Total risk weighted assets
$44,789Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$3,525Total interest expense
$1,355Net interest income
$2,170Provision for loan and lease losses
$1,235Total noninterest income
$464Fiduciary activities
$0Service charges on deposit accounts
$221Trading account gains & fees
$0Additional noninterest income
$243Total noninterest expense
$3,257Salaries and employee benefits
$1,054Premises and equipment expense
$251Additional noninterest expense
$1,952Pre-tax net operating income
-$1,858Securities gains (losses)
-$5Applicable income taxes
$6Income before extraordinary items
-$1,869Extraordinary gains - net
$0Net income attributable to bank
-$1,869Net charge-offs
$59Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.87%Cost of funding earning assets
3.41%Net interest margin
5.46%Noninterest income to earning assets
1.17%Noninterest expense to earning assets
8.19%Net operating income to assets
-4.04%Return on assets (ROA)
-4.05%Pretax return on assets
-4.04%Return on equity (ROE)
-56.35%Retained earnings to average equity (YTD only)
-56.35%Net charge-offs to loans
0.18%Credit loss provision to net charge-offs
2093.22%Efficiency ratio
123,652Assets per employee
2.14%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
8.06%Loss allowance to noncurrent loans
125.40%Noncurrent assets plus other real estate owned to assets
5.82%Noncurrent loans to loans
6.43%Net loans and leases to deposits
65.10%Net loans and leases to core deposits
68.63%Equity capital to assets
3.79%Core capital (leverage) ratio
3.36%Tier 1 risk-based capital ratio
3.61%Total risk-based capital ratio
Memoranda
$5Average assets
$46,101Average earning assets
$3,317Average equity
$39,751Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with The Bank of Southeastern Connecticut.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.