The National Iron Bank in Salisbury, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

The National Iron Bank - Overview

  • General
  • FDIC Certificate #: 2496
    Status: Active
    Federal Reserve ID: 1008209
    Bank Holding Company (Regulatory Top Holder): Iron Bancshares, Inc. (RSSDID: 2606693, Location: Salisbury, CT)
    Date Established: August 17, 1847
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 11090
    FDIC's unique #: 1640
    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: Yes
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    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
  • Location
  • Address: 195 Main Street, Salisbury, CT 6068
    County: Litchfield
    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): Torrington, CT (#45860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $101.4 mil
    Equity capital: $9.7 mil
    Deposits held in domestic offices: $91.6 mil
    Return on assets (ROA): 0.50% ($0.5 mil)
    Quarterly return on assets: 0.41% ($0.4 mil)
    Return on Equity (ROE): 5.46% ($0.5 mil)
    Quarterly return on equity: 4.29% ($0.4 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.50% ($506.8 mil)
    Quarterly Pretax return on assets: 0.41% ($415.5 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
  • 28Total employees (full-time equivalent)
  • $101,352Total assets
  • $4,634Cash and due from depository institutions
  • $2,497Interest-bearing balances
  • $51,353Securities
  • $313Federal funds sold & reverse repurchase agreements
  • $43,051Net loans & leases
  • $406Loan loss allowance
  • $0Trading account assets
  • $881Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $101,352Life insurance assets
  • $1,120All other assets
  • $91,689Total liabilities and capital
  • $91,611Total liabilities
  • $79,638Total deposits
  • $91,611Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $78Subordinated debt
  • $9,663All other liabilities
  • $9,663Total equity capital
  • $9,663Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $200Surplus
  • $9,263Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $346Long-term assets (5+ years)
  • $97,214Average Assets, year-to-date
  • $61,765Average Assets, quarterly
  • $101,035Volatile liabilities
  • $102,480Insider loans
  • $41,287FHLB advances
  • $103,278Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,356Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,664Restructured Loans and leases
  • $1,222Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,606Total interest income
  • $349Total interest expense
  • $3,257Net interest income
  • $0Provision for loan and lease losses
  • $805Total noninterest income
  • $0Fiduciary activities
  • $716Service charges on deposit accounts
  • $0Trading account gains & fees
  • $89Additional noninterest income
  • $3,707Total noninterest expense
  • $1,885Salaries and employee benefits
  • $501Premises and equipment expense
  • $1,321Additional noninterest expense
  • $355Pre-tax net operating income
  • $153Securities gains (losses)
  • $0Applicable income taxes
  • $508Income before extraordinary items
  • $0Extraordinary gains - net
  • $508Net income attributable to bank
  • $0Net charge-offs
  • $508Cash dividends
  • $1Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.73%Yield on earning assets
  • 0.36%Cost of funding earning assets
  • 3.37%Net interest margin
  • 0.83%Noninterest income to earning assets
  • 3.83%Noninterest expense to earning assets
  • 0.35%Net operating income to assets
  • 0.50%Return on assets (ROA)
  • 0.50%Pretax return on assets
  • 5.46%Return on equity (ROE)
  • 5.46%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 355.00%Efficiency ratio
  • 91,260Assets per employee
  • 3.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.93%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 46.99%Net loans and leases to core deposits
  • 52.52%Equity capital to assets
  • 9.53%Core capital (leverage) ratio
  • 8.09%Tier 1 risk-based capital ratio
  • 20.24%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $101,035Average earning assets
  • $9,299Average equity
  • $96,751Average loans

List of branches

  • 4 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01640The National Iron Bank195 Main Street, Salisbury, CT 6068August 17, 1847Full Service Brick and Mortar
    1192715The Cornwall BranchRoute 4, Cornwall Bridge, Cornwall Bridge, CT 6754July 01, 1963Full Service Brick and Mortar
    2192716Norfolk Branch2 John J Curtiss Road, Norfolk, CT 6058July 01, 1966Full Service Brick and Mortar
    4192718Washington Depot Branch2 Bee Brook Road, Washington Depot, CT 6794November 19, 1984Full Service Brick and Mortar

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