The Savings Bank in Wakefield, Massachusetts (MA)



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The Savings Bank
GeneralFDIC Certificate #: 90291
Status: Active
Federal Reserve ID: 711801
Date Established: May 26, 1869
WWW: http://www.tsbawake24.com
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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)114
Total assets$443,758
Cash and due from depository institutions$47,417
Interest-bearing balances$42,377
Securities$106,345
Federal funds sold & reverse repurchase agreements$12,084
Net loans & leases$247,852
Loan loss allowance $2,512
Trading account assets$0
Bank premises and fixed assets$7,735
Other real estate owned$0
Goodwill and other intangibles$3,358
All other assets$18,967
Life insurance assets$443,758
Total liabilities and capital$386,986
Total liabilities$385,011
Total deposits$334,931
Interest-bearing deposits$385,011
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,975
All other liabilities $56,772
Total equity capital$56,772
Total bank equity capital$56,772
Perpetual preferred stock$0
Common stock$0
Surplus$52,629
Undivided profits $4,143
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 $5,245
Earning assets $0
Long-term assets (5+ years) $1,348
Average Assets, year-to-date $408,658
Average Assets, quarterly $118,826
Volatile liabilities $438,648
Insider loans $443,924
FHLB advances $266,046
Loans and leases held for sale $436,861
Unused loan commitments $13,251
Tier 1 (core) risk-based capital $13,251
Tier 2 risk-based capital $49,271
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $43,453
Derivatives$1,938
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,782
Total interest expense $2,666
Net interest income $13,116
Provision for loan and lease losses $583
Total noninterest income $5,028
Fiduciary activities $2,653
Service charges on deposit accounts $589
Trading account gains & fees $0
Additional noninterest income $1,786
Total noninterest expense $16,998
Salaries and employee benefits $8,805
Premises and equipment expense $2,147
Additional noninterest expense $6,046
Pre-tax net operating income $563
Securities gains (losses) $77
Applicable income taxes $12
Income before extraordinary items $628
Extraordinary gains - net $0
Net income attributable to bank $628
Net charge-offs $0
Cash dividends $628
Sale, conversion, retirement of capital stock, net $42
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 assets3.91%
Cost of funding earning assets 0.66%
Net interest margin 3.25%
Noninterest income to earning assets 1.25%
Noninterest expense to earning assets 4.21%
Net operating income to assets 0.13%
Return on assets (ROA) 0.14%
Pretax return on assets 0.15%
Return on equity (ROE) 1.12%
Retained earnings to average equity (YTD only) 1.12%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs 1388.10%
Efficiency ratio27.29%
Assets per employee$92,196
Cash dividends to net income (YTD only)3.89%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.00%
Noncurrent assets plus other real estate owned to assets 47.89%
Noncurrent loans to loans 1.18%
Net loans and leases to deposits2.09%
Net loans and leases to core deposits 64.38%
Equity capital to assets 68.99%
Core capital (leverage) ratio 12.79%
Tier 1 risk-based capital ratio 11.28%
Total risk-based capital ratio 18.52%
Memoranda
Average assets$20
Average earning assets$438,648
Average equity $56,101
Average loans $403,566
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$319,691
Number of Accounts1
Personal trust and agency accounts$294,450
Employee benefit-defined contribution accounts$45,743
Employee benefit-defined benefit accounts$4,328
Other retirement accounts$0
Corporate trust and agency accounts$62,745
Investment management agency accounts$0
Other fiduciary accounts$178,622
Fiduciary accounts held in foreign offices$3,012
Non-managed Assets$0
Number of Accounts837
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$62,713
Employee benefit-defined benefit accounts$0
Other retirement accounts$25,241
Corporate trust and agency accounts$13,528
Other fiduciary accounts$891
Fiduciary accounts held in foreign offices$10,822
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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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