The First Bank of Greenwich in Cos Cob, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches


The First Bank of Greenwich - Overview

  • General
  • FDIC Certificate #: 58307
    Status: Active
    Federal Reserve ID: 3466988
    Date Established: December 20, 2006
    WWW: http://www.thefirstbankofgreenwich.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 445891
    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: December 20, 2006
    Last Structure Change Effective Date: March 13, 2012
    Last Structure Change Process Date: March 13, 2012
    Last Data Update: March 13, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 444 East Putnam Avenue, Cos Cob, CT 6807
    County: Fairfield
    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): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): Bridgeport-Stamford-Norwalk, CT (#14860)
    CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
  • Financial Summary
  • Total assets: $75.3 mil
    Equity capital: $7.6 mil
    Deposits held in domestic offices: $62.4 mil
    Return on assets (ROA): -1.33% (-$1.0 mil)
    Quarterly return on assets: 0.43% ($0.3 mil)
    Return on Equity (ROE): -12.32% (-$1.0 mil)
    Quarterly return on equity: 4.14% ($0.3 mil)
    Net income: -$0.8 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: -1.33% (-$1,002.1 mil)
    Quarterly Pretax return on assets: 0.43% ($324.0 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
  • 18Total employees (full-time equivalent)
  • $75,343Total assets
  • $3,742Cash and due from depository institutions
  • $3,647Interest-bearing balances
  • $14,542Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $55,314Net loans & leases
  • $723Loan loss allowance
  • $0Trading account assets
  • $836Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $75,343Life insurance assets
  • $909All other assets
  • $67,771Total liabilities and capital
  • $62,433Total liabilities
  • $43,078Total deposits
  • $62,433Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $338Subordinated debt
  • $7,572All other liabilities
  • $7,572Total equity capital
  • $7,572Total bank equity capital
  • $0Perpetual preferred stock
  • $54Common stock
  • $20,322Surplus
  • $-12,804Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,449Income earned, not collected on loans
  • $0Earning assets
  • $347Long-term assets (5+ years)
  • $73,503Average Assets, year-to-date
  • $28,836Average Assets, quarterly
  • $63,677Volatile liabilities
  • $72,667Insider loans
  • $52,748FHLB advances
  • $72,582Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,620Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,176Restructured Loans and leases
  • $2,793Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,842Total interest income
  • $453Total interest expense
  • $2,389Net interest income
  • $35Provision for loan and lease losses
  • $111Total noninterest income
  • $0Fiduciary activities
  • $44Service charges on deposit accounts
  • $0Trading account gains & fees
  • $67Additional noninterest income
  • $3,488Total noninterest expense
  • $1,589Salaries and employee benefits
  • $641Premises and equipment expense
  • $1,258Additional noninterest expense
  • -$1,023Pre-tax net operating income
  • $178Securities gains (losses)
  • $1Applicable income taxes
  • -$846Income before extraordinary items
  • $0Extraordinary gains - net
  • -$846Net income attributable to bank
  • $0Net charge-offs
  • -$846Cash dividends
  • $9Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.61%Yield on earning assets
  • 0.74%Cost of funding earning assets
  • 3.88%Net interest margin
  • 0.18%Noninterest income to earning assets
  • 5.66%Noninterest expense to earning assets
  • -1.61%Net operating income to assets
  • -1.33%Return on assets (ROA)
  • -1.33%Pretax return on assets
  • -12.32%Return on equity (ROE)
  • -12.32%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • 388.89%Credit loss provision to net charge-offs
  • -109.78%Efficiency ratio
  • 139,520Assets per employee
  • 4.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 49.90%Noncurrent assets plus other real estate owned to assets
  • 1.92%Noncurrent loans to loans
  • 2.59%Net loans and leases to deposits
  • 88.60%Net loans and leases to core deposits
  • 97.60%Equity capital to assets
  • 10.05%Core capital (leverage) ratio
  • 10.50%Tier 1 risk-based capital ratio
  • 14.45%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $63,677Average earning assets
  • $6,866Average equity
  • $61,617Average loans

List of branches

  • 2 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0445891The First Bank Of Greenwich444 East Putnam Avenue, Cos Cob, CT 6807December 20, 2006Full Service Brick and Mortar
    1473494Messenger Branch165 Mason Street, Greenwich, CT 6830March 10, 2008Limited Service Messenger

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