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)
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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

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