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

The Savings Bank - Overview

  • General
  • FDIC Certificate #: 90291
    Status: Active
    Federal Reserve ID: 711801
    Date Established: May 26, 1869
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 13771
    FDIC's unique #: 17880
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: 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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: August 05, 1985
    Last Structure Change Effective Date: July 02, 2009
    Last Structure Change Process Date: July 02, 2009
    Last Data Update: July 02, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 357 Main Street, Wakefield, MA 1880
    County: Middlesex
    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: Cambridge-Newton-Framingham, MA (#15764)
  • Financial Summary
  • Total assets: $443.8 mil
    Equity capital: $56.8 mil
    Deposits held in domestic offices: $385.0 mil
    Return on assets (ROA): 0.14% ($0.6 mil)
    Quarterly return on assets: 0.31% ($1.4 mil)
    Return on Equity (ROE): 1.12% ($0.6 mil)
    Quarterly return on equity: 2.43% ($1.4 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.15% ($665.6 mil)
    Quarterly Pretax return on assets: 0.30% ($1,331.3 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
  • 114Total employees (full-time equivalent)
  • $443,758Total assets
  • $47,417Cash and due from depository institutions
  • $42,377Interest-bearing balances
  • $106,345Securities
  • $12,084Federal funds sold & reverse repurchase agreements
  • $247,852Net loans & leases
  • $2,512Loan loss allowance
  • $0Trading account assets
  • $7,735Bank premises and fixed assets
  • $0Other real estate owned
  • $3,358Goodwill and other intangibles
  • $443,758Life insurance assets
  • $18,967All other assets
  • $386,986Total liabilities and capital
  • $385,011Total liabilities
  • $334,931Total deposits
  • $385,011Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,975Subordinated debt
  • $56,772All other liabilities
  • $56,772Total equity capital
  • $56,772Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $52,629Surplus
  • $4,143Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,245Income earned, not collected on loans
  • $0Earning assets
  • $1,348Long-term assets (5+ years)
  • $408,658Average Assets, year-to-date
  • $118,826Average Assets, quarterly
  • $438,648Volatile liabilities
  • $443,924Insider loans
  • $266,046FHLB advances
  • $436,861Loans and leases held for sale
  • $13,251Unused loan commitments
  • $13,251Tier 1 (core) risk-based capital
  • $49,271Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $43,453Restructured Loans and leases
  • $1,938Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,782Total interest income
  • $2,666Total interest expense
  • $13,116Net interest income
  • $583Provision for loan and lease losses
  • $5,028Total noninterest income
  • $2,653Fiduciary activities
  • $589Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,786Additional noninterest income
  • $16,998Total noninterest expense
  • $8,805Salaries and employee benefits
  • $2,147Premises and equipment expense
  • $6,046Additional noninterest expense
  • $563Pre-tax net operating income
  • $77Securities gains (losses)
  • $12Applicable income taxes
  • $628Income before extraordinary items
  • $0Extraordinary gains - net
  • $628Net income attributable to bank
  • $0Net charge-offs
  • $628Cash dividends
  • $42Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.91%Yield on earning assets
  • 0.66%Cost of funding earning assets
  • 3.25%Net interest margin
  • 1.25%Noninterest income to earning assets
  • 4.21%Noninterest expense to earning assets
  • 0.13%Net operating income to assets
  • 0.14%Return on assets (ROA)
  • 0.15%Pretax return on assets
  • 1.12%Return on equity (ROE)
  • 1.12%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • 1388.10%Credit loss provision to net charge-offs
  • 27.29%Efficiency ratio
  • 92,196Assets per employee
  • 3.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 47.89%Noncurrent assets plus other real estate owned to assets
  • 1.18%Noncurrent loans to loans
  • 2.09%Net loans and leases to deposits
  • 64.38%Net loans and leases to core deposits
  • 68.99%Equity capital to assets
  • 12.79%Core capital (leverage) ratio
  • 11.28%Tier 1 risk-based capital ratio
  • 18.52%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $438,648Average earning assets
  • $56,101Average equity
  • $403,566Average 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
  • $319,691Managed Assets
  • 1Number of Accounts
  • $294,450Personal trust and agency accounts
  • $45,743Employee benefit-defined contribution accounts
  • $4,328Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $62,745Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $178,622Other fiduciary accounts
  • $3,012Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 837Number of Accounts
  • $0Personal trust and agency accounts
  • $62,713Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $25,241Other retirement accounts
  • $13,528Corporate trust and agency accounts
  • $891Other fiduciary accounts
  • $10,822Fiduciary accounts held in foreign offices

List of branches

  • 9 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017880The Savings Bank357 Main Street, Wakefield, MA 1880May 26, 1869Full Service Brick and Mortar
    1291511Main Street Branch907 Main Street, Wakefield, MA 1880Febuary 25, 1974Full Service Brick and Mortar
    2291512Colonial Shopping Center Branch584 Main Street, Lynnfield, MA 1940September 20, 1976Full Service Brick and Mortar
    3291513Lakeside Branch599 North Avenue, Wakefield, MA 1880May 05, 1980Full Service Brick and Mortar
    4291514High School Branch (Seasonal)60 Farm St, Wakefield, MA 1880April 01, 1981Limited Service Mobile
    6291516Andover Branch84 Main Street, Andover, MA 1810Febuary 10, 1997Full Service Brick and Mortar
    7357168South Lynnfield Branch1105 Summer Street, Lynnfield, MA 1940June 06, 2000Full Service Brick and Mortar
    8438857Methuen Branch17 Burnham Road, Methuen, MA 1844March 02, 2005Full Service Brick and Mortar
    9440414North Reading Branch6 Washington Street, North Reading, MA 1864May 02, 2005Full Service Brick and Mortar

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