The National Bank of Middlebury in Middlebury, Vermont (VT)
| The National Bank of Middlebury | |
|---|---|
| General | FDIC Certificate #: 6275 Status: Active Federal Reserve ID: 173306 Bank Holding Company (Regulatory Top Holder): Middlebury National Corporation (RSSDID: 1136214, Location: Middlebury, VT) Date Established: November 09, 1831 WWW: http://www.nationalbankmiddlebury.com 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: 7 (Domestic: 7, Interstate: No) OTS Docket #: 9067 FDIC's unique #: 4239 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: Mortgage Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: December 03, 2008 Last Structure Change Process Date: January 16, 2009 Last Data Update: January 16, 2009 Data Source Date: April 05, 2012 |
| Location | Address: 30 Main Street, Middlebury, VT 5753 County: Addison Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Springfield Ma Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $284.9 mil Equity capital: $25.2 mil Deposits held in domestic offices: $242.4 mil Return on assets (ROA): 0.79% ($2.3 mil) Quarterly return on assets: 0.85% ($2.4 mil) Return on Equity (ROE): 8.95% ($2.2 mil) Quarterly return on equity: 9.45% ($2.4 mil) Net income: $2.2 mil Quarterly Net income: $0.6 mil Pretax return on assets: 0.98% ($2,791.6 mil) Quarterly Pretax return on assets: 1.08% ($3,076.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 84 |
| Total assets | $284,854 |
| Cash and due from depository institutions | $16,135 |
| Interest-bearing balances | $10,173 |
| Securities | $70,523 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $178,315 |
| Loan loss allowance | $2,422 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,151 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $875 |
| All other assets | $11,855 |
| Life insurance assets | $284,854 |
| Total liabilities and capital | $259,671 |
| Total liabilities | $242,372 |
| Total deposits | $230,295 |
| Interest-bearing deposits | $242,372 |
| Deposits held in domestic offices | $92 |
| % insured (estimated) | 9177.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $5,210 |
| Other borrowed funds | $0 |
| Subordinated debt | $2,912 |
| All other liabilities | $25,183 |
| Total equity capital | $25,183 |
| Total bank equity capital | $25,183 |
| Perpetual preferred stock | $0 |
| Common stock | $400 |
| Surplus | $1,000 |
| Undivided profits | $23,783 |
| Memoranda | |
| 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 | $1,558 |
| Earning assets | $86 |
| Long-term assets (5+ years) | $1,113 |
| Average Assets, year-to-date | $259,011 |
| Average Assets, quarterly | $110,996 |
| Volatile liabilities | $272,427 |
| Insider loans | $278,366 |
| FHLB advances | $184,264 |
| Loans and leases held for sale | $276,959 |
| Unused loan commitments | $5,417 |
| Tier 1 (core) risk-based capital | $5,417 |
| Tier 2 risk-based capital | $23,318 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $37,330 |
| Derivatives | $422 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $11,033 |
| Total interest expense | $1,349 |
| Net interest income | $9,684 |
| Provision for loan and lease losses | $80 |
| Total noninterest income | $2,840 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $589 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $2,251 |
| Total noninterest expense | $9,792 |
| Salaries and employee benefits | $5,413 |
| Premises and equipment expense | $1,390 |
| Additional noninterest expense | $2,989 |
| Pre-tax net operating income | $2,652 |
| Securities gains (losses) | $8 |
| Applicable income taxes | $502 |
| Income before extraordinary items | $2,158 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,158 |
| Net charge-offs | $0 |
| Cash dividends | $2,158 |
| Sale, conversion, retirement of capital stock, net | $44 |
| Net operating income | $812 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.46% |
| Cost of funding earning assets | 0.55% |
| Net interest margin | 3.91% |
| Noninterest income to earning assets | 1.15% |
| Noninterest expense to earning assets | 3.96% |
| Net operating income to assets | 0.79% |
| Return on assets (ROA) | 0.79% |
| Pretax return on assets | 0.98% |
| Return on equity (ROE) | 8.95% |
| Retained earnings to average equity (YTD only) | 5.58% |
| Net charge-offs to loans | 0.02% |
| Credit loss provision to net charge-offs | 181.82% |
| Efficiency ratio | 62.09% |
| Assets per employee | $77,635 |
| Cash dividends to net income (YTD only) | 3.39% |
| Condition Ratios (%) | |
| Loss allowance to loans | 37.63% |
| Loss allowance to noncurrent loans | 1.34% |
| Noncurrent assets plus other real estate owned to assets | 155.46% |
| Noncurrent loans to loans | 0.55% |
| Net loans and leases to deposits | 0.86% |
| Net loans and leases to core deposits | 73.57% |
| Equity capital to assets | 74.74% |
| Core capital (leverage) ratio | 8.84% |
| Tier 1 risk-based capital ratio | 8.42% |
| Total risk-based capital ratio | 12.65% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $272,427 |
| Average equity | $24,114 |
| Average loans | $247,430 |
| 7 Vermont Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 4239 | The National Bank Of Middlebury | 30 Main Street, Middlebury, VT 5753 | November 09, 1831 | Full Service Brick and Mortar |  |
| 1 | 209237 | Motor Branch | 15 Seymour St., Middlebury, VT 5753 | August 14, 1967 | Limited Service Facility |  |
| 2 | 209238 | Middlebury Route 7 South Branch | 240 Court Street, Middlebury, VT 5753 | December 19, 1974 | Full Service Brick and Mortar | |
| 3 | 209239 | Bristol Branch | 28 Main Street, Bristol, VT 5443 | March 18, 1996 | Full Service Brick and Mortar | |
| 4 | 467476 | Brandon Branch | 5 Carver Street, Brandon, VT 5733 | July 30, 2007 | Full Service Brick and Mortar | |
| 6 | 480874 | Vergennes Branch | 29 Green Street, Vergennes, VT 5491 | January 01, 2008 | Full Service Brick and Mortar | |
| 8 | 493295 | Hinesburg Branch | 140 Commerce Street, Hinesburg, VT 5461 | August 01, 2008 | Full Service Brick and Mortar | |
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