The Needham Bank in Needham, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Needham Bank - Overview

  • General
  • FDIC Certificate #: 26483
    Status: Active
    Federal Reserve ID: 339773
    Date Established: January 01, 1892
    WWW: http://www.needhambank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 12669
    FDIC's unique #: 33149
    Numeric code: 15
    Regulator: FED
    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: January 13, 1986
    Last Structure Change Effective Date: March 25, 2008
    Last Structure Change Process Date: March 28, 2008
    Last Data Update: March 28, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 1063 Great Plain Avenue, Needham, MA 2492
    County: Norfolk
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Boston-Quincy, MA (#14484)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Institution Becomes a Member of FRS (Federal Reserve System)
  • Financial Summary
  • Total assets: $1,155.9 mil
    Equity capital: $200.7 mil
    Deposits held in domestic offices: $884.7 mil
    Return on assets (ROA): 0.83% ($9.6 mil)
    Quarterly return on assets: 0.97% ($11.2 mil)
    Return on Equity (ROE): 4.95% ($9.9 mil)
    Quarterly return on equity: 5.60% ($11.3 mil)
    Net income: $9.7 mil
    Quarterly Net income: $2.8 mil
    Pretax return on assets: 1.34% ($15,488.8 mil)
    Quarterly Pretax return on assets: 1.57% ($18,147.3 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
  • 113Total employees (full-time equivalent)
  • $1,155,882Total assets
  • $27,780Cash and due from depository institutions
  • $20,731Interest-bearing balances
  • $140,676Securities
  • $16,067Federal funds sold & reverse repurchase agreements
  • $917,695Net loans & leases
  • $17,320Loan loss allowance
  • $0Trading account assets
  • $11,521Bank premises and fixed assets
  • $2,501Other real estate owned
  • $113Goodwill and other intangibles
  • $1,155,882Life insurance assets
  • $39,529All other assets
  • $955,188Total liabilities and capital
  • $884,685Total liabilities
  • $856,256Total deposits
  • $884,685Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $62,949Trading liabilities
  • $0Other borrowed funds
  • $7,554Subordinated debt
  • $200,694All other liabilities
  • $200,694Total equity capital
  • $200,694Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $199,062Surplus
  • $1,632Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $31,444Income earned, not collected on loans
  • $0Earning assets
  • $4,219Long-term assets (5+ years)
  • $1,095,169Average Assets, year-to-date
  • $438,833Average Assets, quarterly
  • $1,161,910Volatile liabilities
  • $1,147,978Insider loans
  • $732,439FHLB advances
  • $1,134,305Loans and leases held for sale
  • $2,984Unused loan commitments
  • $1,982Tier 1 (core) risk-based capital
  • $196,016Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,002Total unused commitments
  • $98,949Restructured Loans and leases
  • $1,213Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $56,001Total interest income
  • $13,760Total interest expense
  • $42,241Net interest income
  • $4,160Provision for loan and lease losses
  • -$855Total noninterest income
  • $0Fiduciary activities
  • $258Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,113Additional noninterest income
  • $21,744Total noninterest expense
  • $12,883Salaries and employee benefits
  • $1,187Premises and equipment expense
  • $7,674Additional noninterest expense
  • $15,482Pre-tax net operating income
  • $90Securities gains (losses)
  • $5,920Applicable income taxes
  • $9,652Income before extraordinary items
  • $0Extraordinary gains - net
  • $9,652Net income attributable to bank
  • $0Net charge-offs
  • $9,652Cash dividends
  • $9,897Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.10%Yield on earning assets
  • 1.25%Cost of funding earning assets
  • 3.85%Net interest margin
  • -0.08%Noninterest income to earning assets
  • 1.98%Noninterest expense to earning assets
  • 0.83%Net operating income to assets
  • 0.83%Return on assets (ROA)
  • 1.34%Pretax return on assets
  • 4.95%Return on equity (ROE)
  • 4.95%Retained earnings to average equity (YTD only)
  • 1.04%Net charge-offs to loans
  • 42.03%Credit loss provision to net charge-offs
  • 1.98%Efficiency ratio
  • 52,540Assets per employee
  • 10.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.85%Loss allowance to noncurrent loans
  • 55.08%Noncurrent assets plus other real estate owned to assets
  • 2.94%Noncurrent loans to loans
  • 3.36%Net loans and leases to deposits
  • 103.73%Net loans and leases to core deposits
  • 119.09%Equity capital to assets
  • 17.36%Core capital (leverage) ratio
  • 17.28%Tier 1 risk-based capital ratio
  • 26.76%Total risk-based capital ratio
  • Memoranda
  • $28Average assets
  • $1,161,910Average earning assets
  • $195,082Average equity
  • $1,097,075Average loans

List of branches

  • 5 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033149The Needham Bank1063 Great Plain Avenue, Needham, MA 2492January 01, 1892Full Service Brick and Mortar
    2259482Medfield Branch520 Main Street, Medfield, MA 2052October 01, 1962Full Service Brick and Mortar
    3259483Westwood Branch341 Washington Street, Westwood, MA 2090January 01, 1975Full Service Brick and Mortar
    4259484Wellesley Branch458 Washington Street, Wellesley, MA 2482June 01, 1978Full Service Brick and Mortar
    539166Dedham Branch402 Washington Street, Dedham, MA 2026January 01, 1886Full Service Brick and Mortar

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