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

The Rockport National Bank - Overview

  • General
  • FDIC Certificate #: 2644
    Status: Active
    Federal Reserve ID: 555005
    Bank Holding Company (Regulatory Top Holder): Rockport National Bancorp, Inc. (RSSDID: 2802909, Location: Rockport, MA)
    Date Established: January 01, 1865
    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: 5 (Domestic: 4, Interstate: No)
    OTS Docket #: 14065
    FDIC's unique #: 1712
    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: Commercial 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: 16 Main Street, Rockport, MA 1966
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North 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: Peabody, MA (#37764)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $178.8 mil
    Equity capital: $15.9 mil
    Deposits held in domestic offices: $160.2 mil
    Return on assets (ROA): 0.82% ($1.5 mil)
    Quarterly return on assets: 0.92% ($1.6 mil)
    Return on Equity (ROE): 10.32% ($1.7 mil)
    Quarterly return on equity: 10.33% ($1.7 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.38% ($2,466.9 mil)
    Quarterly Pretax return on assets: 1.56% ($2,788.6 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
  • 47Total employees (full-time equivalent)
  • $178,759Total assets
  • $15,291Cash and due from depository institutions
  • $12,448Interest-bearing balances
  • $23,604Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $129,672Net loans & leases
  • $1,554Loan loss allowance
  • $0Trading account assets
  • $5,859Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $178,759Life insurance assets
  • $4,333All other assets
  • $162,869Total liabilities and capital
  • $160,195Total liabilities
  • $115,742Total deposits
  • $160,195Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $2,674Subordinated debt
  • $15,890All other liabilities
  • $15,890Total equity capital
  • $15,890Total bank equity capital
  • $3,000Perpetual preferred stock
  • $209Common stock
  • $647Surplus
  • $12,034Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $855Income earned, not collected on loans
  • $0Earning assets
  • $559Long-term assets (5+ years)
  • $165,724Average Assets, year-to-date
  • $95,840Average Assets, quarterly
  • $173,075Volatile liabilities
  • $177,996Insider loans
  • $117,642FHLB advances
  • $177,860Loans and leases held for sale
  • $606Unused loan commitments
  • $606Tier 1 (core) risk-based capital
  • $16,347Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,795Restructured Loans and leases
  • $390Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,994Total interest income
  • $727Total interest expense
  • $7,267Net interest income
  • $120Provision for loan and lease losses
  • $995Total noninterest income
  • $1Fiduciary activities
  • $477Service charges on deposit accounts
  • $0Trading account gains & fees
  • $517Additional noninterest income
  • $5,761Total noninterest expense
  • $3,256Salaries and employee benefits
  • $542Premises and equipment expense
  • $1,963Additional noninterest expense
  • $2,381Pre-tax net operating income
  • $0Securities gains (losses)
  • $967Applicable income taxes
  • $1,414Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,414Net income attributable to bank
  • $0Net charge-offs
  • $1,414Cash dividends
  • $111Sale, conversion, retirement of capital stock, net
  • $335Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.98%Yield on earning assets
  • 0.45%Cost of funding earning assets
  • 4.52%Net interest margin
  • 0.62%Noninterest income to earning assets
  • 3.59%Noninterest expense to earning assets
  • 0.82%Net operating income to assets
  • 0.82%Return on assets (ROA)
  • 1.38%Pretax return on assets
  • 10.32%Return on equity (ROE)
  • 7.87%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 108.11%Credit loss provision to net charge-offs
  • 22.53%Efficiency ratio
  • 69,729Assets per employee
  • 3.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 23.69%Loss allowance to loans
  • 1.18%Loss allowance to noncurrent loans
  • 181.75%Noncurrent assets plus other real estate owned to assets
  • 0.48%Noncurrent loans to loans
  • 0.65%Net loans and leases to deposits
  • 80.95%Net loans and leases to core deposits
  • 82.48%Equity capital to assets
  • 8.89%Core capital (leverage) ratio
  • 9.19%Tier 1 risk-based capital ratio
  • 13.90%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $173,075Average earning assets
  • $13,703Average equity
  • $160,680Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $565Managed Assets
  • 1Number of Accounts
  • $219Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $219Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 4Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $346Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $346Fiduciary accounts held in foreign offices

List of branches

  • 5 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01712The Rockport National Bank16 Main Street, Rockport, MA 1966January 01, 1865Full Service Brick and Mortar
    1193713King Street Branch37 King Street, Rockport, MA 1966December 09, 1974Full Service Brick and Mortar
    4361733School Street Branch11 School Street, Rockport, MA 1966March 01, 2001Limited Service Administrative
    5466370Parker St. Branch4 Parker St., Gloucester, MA 1930June 13, 2007Full Service Brick and Mortar
    6528447Beverly Branch4 Colon Street, Beverly, MA 1915January 17, 2012Full Service Brick and Mortar

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