The Citizens National Bank in Putnam, Connecticut (CT)

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The Citizens National Bank
GeneralFDIC Certificate #: 2521
Status: Active
Federal Reserve ID: 509400
Bank Holding Company (Regulatory Top Holder): Citizens National Bancorp, Inc. (RSSDID: 1839207, Location: Putnam, CT)
Date Established: November 11, 1924
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 10336
FDIC's unique #: 1647
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: January 01, 1934
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: 182 Main Street, Putnam, CT 6260
County: Windham
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
Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278)
Core Based Statistical Area (CBSA): Willimantic, CT (#48740)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $340.5 mil
Equity capital: $36.1 mil
Deposits held in domestic offices: $198.0 mil
Return on assets (ROA): 0.63% ($2.1 mil)
Quarterly return on assets: 0.78% ($2.7 mil)
Return on Equity (ROE): 5.65% ($2.0 mil)
Quarterly return on equity: 7.16% ($2.6 mil)
Net income: $2.0 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 0.69% ($2,349.4 mil)
Quarterly Pretax return on assets: 0.95% ($3,234.7 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)63
Total assets$340,491
Cash and due from depository institutions$3,932
Interest-bearing balances$25
Federal funds sold & reverse repurchase agreements$1,715
Net loans & leases$93,185
Loan loss allowance $2,570
Trading account assets$0
Bank premises and fixed assets$4,154
Other real estate owned$1,580
Goodwill and other intangibles$0
All other assets$24,126
Life insurance assets$340,491
Total liabilities and capital$304,404
Total liabilities$198,020
Total deposits$144,713
Interest-bearing deposits$198,020
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$100,000
Other borrowed funds $0
Subordinated debt $6,384
All other liabilities $36,087
Total equity capital$36,087
Total bank equity capital$36,087
Perpetual preferred stock$0
Common stock$1,352
Undivided profits $27,834
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 $3,644
Earning assets $0
Long-term assets (5+ years) $1,890
Average Assets, year-to-date $306,724
Average Assets, quarterly $215,565
Volatile liabilities $312,286
Insider loans $332,878
FHLB advances $162,347
Loans and leases held for sale $328,845
Unused loan commitments $10,366
Tier 1 (core) risk-based capital $10,366
Tier 2 risk-based capital $33,715
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,912
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,152
Total interest expense $2,473
Net interest income $9,679
Provision for loan and lease losses $618
Total noninterest income $1,867
Fiduciary activities $0
Service charges on deposit accounts $1,085
Trading account gains & fees $0
Additional noninterest income $782
Total noninterest expense $8,915
Salaries and employee benefits $4,245
Premises and equipment expense $1,454
Additional noninterest expense $3,216
Pre-tax net operating income $2,013
Securities gains (losses) $134
Applicable income taxes $194
Income before extraordinary items $1,953
Extraordinary gains - net $0
Net income attributable to bank $1,953
Net charge-offs $0
Cash dividends $1,953
Sale, conversion, retirement of capital stock, net $429
Net operating income $303
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.36%
Cost of funding earning assets 0.89%
Net interest margin 3.48%
Noninterest income to earning assets 0.67%
Noninterest expense to earning assets 3.20%
Net operating income to assets 0.59%
Return on assets (ROA) 0.63%
Pretax return on assets 0.69%
Return on equity (ROE) 5.65%
Retained earnings to average equity (YTD only) 4.77%
Net charge-offs to loans 0.45%
Credit loss provision to net charge-offs 144.06%
Efficiency ratio6.13%
Assets per employee$77,213
Cash dividends to net income (YTD only)5.40%
Condition Ratios (%)
Loss allowance to loans 15.51%
Loss allowance to noncurrent loans 2.68%
Noncurrent assets plus other real estate owned to assets 70.53%
Noncurrent loans to loans 1.53%
Net loans and leases to deposits3.81%
Net loans and leases to core deposits 47.06%
Equity capital to assets 50.74%
Core capital (leverage) ratio 10.60%
Tier 1 risk-based capital ratio 10.25%
Total risk-based capital ratio 20.77%
Average assets$22
Average earning assets$312,286
Average equity $34,590
Average loans $278,421
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Bank Assets Sold and Securitized (December 31, 2010)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $14,561
Home equity lines$0
Credit cards receivables$0
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$3,237
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5 Connecticut Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01647The Citizens National Bank182 Main Street, Putnam, CT 6260November 11, 1924Full Service Brick and Mortar
1192897Thompson Branch865 Riverside Drive, Grosvenordale, CT 6255July 01, 1965Full Service Brick and Mortar
2192898The Woodstock Branch148 Route 171, Woodstock, CT 6281August 29, 1975Full Service Brick and Mortar
3192899Killingly Branch3 Central Street, Danielson, CT 6239September 29, 1992Full Service Brick and Mortar
4192900Brooklyn Branch13 Canterbury Road, Brooklyn, CT 6234August 19, 1995Full Service Brick and Mortar
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