The Bank of Southern Connecticut in New Haven, Connecticut (CT)

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The Bank of Southern Connecticut routing number info

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The Bank of Southern Connecticut
GeneralFDIC Certificate #: 57251
Status: Active
Federal Reserve ID: 3047314
Bank Holding Company (Regulatory Top Holder): Southern Connecticut Bancorp, Inc (RSSDID: 3019946, Location: New Haven, CT)
Date Established: October 01, 2001
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 360128
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: October 01, 2001
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 215 Church Street, New Haven, CT 6510
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)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $145.3 mil
Equity capital: $10.8 mil
Deposits held in domestic offices: $132.8 mil
Return on assets (ROA): -1.71% (-$2.5 mil)
Quarterly return on assets: -5.18% (-$7.5 mil)
Return on Equity (ROE): -21.05% (-$2.3 mil)
Quarterly return on equity: -66.60% (-$7.3 mil)
Net income: -$2.6 mil
Quarterly Net income: -$2.0 mil
Pretax return on assets: -1.71% (-$2,485.1 mil)
Quarterly Pretax return on assets: -5.18% (-$7,527.9 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)34
Total assets$145,326
Cash and due from depository institutions$18,168
Interest-bearing balances$15,358
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$111,620
Loan loss allowance $2,300
Trading account assets$0
Bank premises and fixed assets$2,013
Other real estate owned$374
Goodwill and other intangibles$0
All other assets$2,837
Life insurance assets$145,326
Total liabilities and capital$134,546
Total liabilities$132,776
Total deposits$101,627
Interest-bearing deposits$132,776
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,162
Other borrowed funds $0
Subordinated debt $608
All other liabilities $10,780
Total equity capital$10,780
Total bank equity capital$10,780
Perpetual preferred stock$0
Common stock$10,000
Undivided profits $-8,512
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 $5,785
Earning assets $666
Long-term assets (5+ years) $434
Average Assets, year-to-date $137,292
Average Assets, quarterly $20,016
Volatile liabilities $153,779
Insider loans $151,262
FHLB advances $119,434
Loans and leases held for sale $155,156
Unused loan commitments $918
Tier 1 (core) risk-based capital $918
Tier 2 risk-based capital $10,780
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $20,676
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,109
Total interest expense $1,950
Net interest income $5,159
Provision for loan and lease losses $3,036
Total noninterest income $633
Fiduciary activities $0
Service charges on deposit accounts $427
Trading account gains & fees $0
Additional noninterest income $206
Total noninterest expense $5,381
Salaries and employee benefits $2,648
Premises and equipment expense $650
Additional noninterest expense $2,083
Pre-tax net operating income -$2,625
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items -$2,625
Extraordinary gains - net $0
Net income attributable to bank -$2,625
Net charge-offs $0
Cash dividends -$2,625
Sale, conversion, retirement of capital stock, net $3,523
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 assets4.91%
Cost of funding earning assets 1.35%
Net interest margin 3.57%
Noninterest income to earning assets 0.44%
Noninterest expense to earning assets 3.72%
Net operating income to assets -1.71%
Return on assets (ROA) -1.71%
Pretax return on assets -1.71%
Return on equity (ROE) -21.05%
Retained earnings to average equity (YTD only) -21.05%
Net charge-offs to loans 2.91%
Credit loss provision to net charge-offs 86.18%
Efficiency ratio0.12%
Assets per employee$92,904
Cash dividends to net income (YTD only)4.27%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.02%
Noncurrent assets plus other real estate owned to assets 39.76%
Noncurrent loans to loans 4.24%
Net loans and leases to deposits5.08%
Net loans and leases to core deposits 84.07%
Equity capital to assets 94.36%
Core capital (leverage) ratio 7.42%
Tier 1 risk-based capital ratio 6.95%
Total risk-based capital ratio 9.03%
Average assets$10
Average earning assets$153,779
Average equity $12,468
Average loans $144,651
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4 Connecticut Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0360128The Bank Of Southern Connecticut215 Church Street, New Haven, CT 6510October 01, 2001Full Service Brick and Mortar
1418780Whalley Avenue Branch1475 Whalley Avenue, New Haven, CT 6515March 26, 2003Full Service Brick and Mortar
2419056Branford Branch445 West Main Street, Branford, CT 6405October 07, 2002Full Service Brick and Mortar
4452533North Haven Branch24 Washington Avenue, North Haven, CT 6473July 10, 2006Full Service Brick and Mortar
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