The National Iron Bank in Salisbury, Connecticut (CT)



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The National Iron Bank routing number info

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The National Iron Bank
GeneralFDIC 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
WWW: http://www.ironbank.com
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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)28
Total assets$101,352
Cash and due from depository institutions$4,634
Interest-bearing balances$2,497
Securities$51,353
Federal funds sold & reverse repurchase agreements$313
Net loans & leases$43,051
Loan loss allowance $406
Trading account assets$0
Bank premises and fixed assets$881
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$1,120
Life insurance assets$101,352
Total liabilities and capital$91,689
Total liabilities$91,611
Total deposits$79,638
Interest-bearing deposits$91,611
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $78
All other liabilities $9,663
Total equity capital$9,663
Total bank equity capital$9,663
Perpetual preferred stock$0
Common stock$200
Surplus$200
Undivided profits $9,263
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 $0
Earning assets $0
Long-term assets (5+ years) $346
Average Assets, year-to-date $97,214
Average Assets, quarterly $61,765
Volatile liabilities $101,035
Insider loans $102,480
FHLB advances $41,287
Loans and leases held for sale $103,278
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $8,356
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,664
Derivatives$1,222
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,606
Total interest expense $349
Net interest income $3,257
Provision for loan and lease losses $0
Total noninterest income $805
Fiduciary activities $0
Service charges on deposit accounts $716
Trading account gains & fees $0
Additional noninterest income $89
Total noninterest expense $3,707
Salaries and employee benefits $1,885
Premises and equipment expense $501
Additional noninterest expense $1,321
Pre-tax net operating income $355
Securities gains (losses) $153
Applicable income taxes $0
Income before extraordinary items $508
Extraordinary gains - net $0
Net income attributable to bank $508
Net charge-offs $0
Cash dividends $508
Sale, conversion, retirement of capital stock, net $1
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 assets3.73%
Cost of funding earning assets 0.36%
Net interest margin 3.37%
Noninterest income to earning assets 0.83%
Noninterest expense to earning assets 3.83%
Net operating income to assets 0.35%
Return on assets (ROA) 0.50%
Pretax return on assets 0.50%
Return on equity (ROE) 5.46%
Retained earnings to average equity (YTD only) 5.46%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio355.00%
Assets per employee$91,260
Cash dividends to net income (YTD only)3.62%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.93%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 46.99%
Equity capital to assets 52.52%
Core capital (leverage) ratio 9.53%
Tier 1 risk-based capital ratio 8.09%
Total risk-based capital ratio 20.24%
Memoranda
Average assets$21
Average earning assets$101,035
Average equity $9,299
Average loans $96,751
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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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