Union Bank in Morrisville, Vermont (VT), NH
| Union Bank | |
|---|---|
| General | FDIC Certificate #: 14158 Status: Active Federal Reserve ID: 333203 Bank Holding Company (Regulatory Top Holder): Union Bankshares, Inc. (RSSDID: 1114940, Location: Morrisville, VT) Date Established: January 01, 1891 WWW: http://www.unionbankvt.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 17 (Domestic: 17, Interstate: Yes) OTS Docket #: 8986 FDIC's unique #: 8840 Numeric code: 21 Regulator: FDIC 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: March 31, 1934 Last Structure Change Effective Date: December 28, 2011 Last Structure Change Process Date: December 28, 2011 Last Data Update: December 28, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 20 Lower Main Street, Morrisville, VT 5661 County: Lamoille Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Springfield Ma Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $551.8 mil Equity capital: $40.2 mil Deposits held in domestic offices: $474.3 mil Return on assets (ROA): 1.08% ($6.0 mil) Quarterly return on assets: 1.30% ($7.2 mil) Return on Equity (ROE): 13.09% ($5.2 mil) Quarterly return on equity: 17.24% ($6.9 mil) Net income: $5.4 mil Quarterly Net income: $1.8 mil Pretax return on assets: 1.32% ($7,284.4 mil) Quarterly Pretax return on assets: 1.57% ($8,664.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 161 |
| Total assets | $551,849 |
| Cash and due from depository institutions | $48,494 |
| Interest-bearing balances | $33,401 |
| Securities | $46,834 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $425,165 |
| Loan loss allowance | $4,226 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,163 |
| Other real estate owned | $1,476 |
| Goodwill and other intangibles | $4,649 |
| All other assets | $16,068 |
| Life insurance assets | $551,849 |
| Total liabilities and capital | $511,691 |
| Total liabilities | $474,289 |
| Total deposits | $396,783 |
| Interest-bearing deposits | $474,289 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 6668.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $22,347 |
| Other borrowed funds | $0 |
| Subordinated debt | $8,387 |
| All other liabilities | $40,158 |
| Total equity capital | $40,158 |
| Total bank equity capital | $40,158 |
| Perpetual preferred stock | $0 |
| Common stock | $200 |
| Surplus | $5,084 |
| Undivided profits | $34,874 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $4,888 |
| Income earned, not collected on loans | $6,205 |
| Earning assets | $901 |
| Long-term assets (5+ years) | $1,810 |
| Average Assets, year-to-date | $505,400 |
| Average Assets, quarterly | $177,370 |
| Volatile liabilities | $504,272 |
| Insider loans | $548,362 |
| FHLB advances | $369,640 |
| Loans and leases held for sale | $540,770 |
| Unused loan commitments | $3,185 |
| Tier 1 (core) risk-based capital | $2,169 |
| Tier 2 risk-based capital | $40,671 |
| Total risk weighted assets | $0 |
| Total unused commitments | $1,016 |
| Restructured Loans and leases | $70,759 |
| Derivatives | $4,774 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $23,708 |
| Total interest expense | $3,884 |
| Net interest income | $19,824 |
| Provision for loan and lease losses | $775 |
| Total noninterest income | $7,019 |
| Fiduciary activities | $558 |
| Service charges on deposit accounts | $1,253 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $5,208 |
| Total noninterest expense | $19,595 |
| Salaries and employee benefits | $10,908 |
| Premises and equipment expense | $2,352 |
| Additional noninterest expense | $6,335 |
| Pre-tax net operating income | $6,473 |
| Securities gains (losses) | $183 |
| Applicable income taxes | $1,229 |
| Income before extraordinary items | $5,427 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $5,427 |
| Net charge-offs | $0 |
| Cash dividends | $5,427 |
| Sale, conversion, retirement of capital stock, net | $304 |
| Net operating income | $4,650 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.11% |
| Cost of funding earning assets | 0.84% |
| Net interest margin | 4.28% |
| Noninterest income to earning assets | 1.51% |
| Noninterest expense to earning assets | 4.23% |
| Net operating income to assets | 1.05% |
| Return on assets (ROA) | 1.08% |
| Pretax return on assets | 1.32% |
| Return on equity (ROE) | 13.09% |
| Retained earnings to average equity (YTD only) | 1.87% |
| Net charge-offs to loans | 0.08% |
| Credit loss provision to net charge-offs | 254.93% |
| Efficiency ratio | 23.84% |
| Assets per employee | $72,999 |
| Cash dividends to net income (YTD only) | 3.43% |
| Condition Ratios (%) | |
| Loss allowance to loans | 85.68% |
| Loss allowance to noncurrent loans | 0.98% |
| Noncurrent assets plus other real estate owned to assets | 68.11% |
| Noncurrent loans to loans | 1.39% |
| Net loans and leases to deposits | 1.45% |
| Net loans and leases to core deposits | 89.64% |
| Equity capital to assets | 99.30% |
| Core capital (leverage) ratio | 7.28% |
| Tier 1 risk-based capital ratio | 7.52% |
| Total risk-based capital ratio | 11.00% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $504,272 |
| Average equity | $41,469 |
| Average loans | $463,515 |
| 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 Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $91,720 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $84,122 |
| Employee benefit-defined contribution accounts | $25,941 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $14,076 |
| Corporate trust and agency accounts | $4,841 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $39,264 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 154 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $4,841 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $7,598 |
| Corporate trust and agency accounts | $0 |
| Other fiduciary accounts | $7,444 |
| Fiduciary accounts held in foreign offices | $24 |
| 4 New Hampshire Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 13 | 449897 | Littleton Nh Branch | 263 Dells Road, Littleton, NH 3561 | March 20, 2006 | Full Service Brick and Mortar |  |
| 16 | 9924 | Groveton Branch | 3 State Street, Groveton, NH 3582 | January 01, 1939 | Full Service Brick and Mortar | |
| 17 | 11944 | Littleton Branch | 76 Main Street, Littleton, NH 3561 | October 14, 1871 | Full Service Brick and Mortar | |
| 18 | 209105 | North Woodstock Branch | 155 Main Street, North Woodstock, NH 3262 | December 07, 1993 | Full Service Brick and Mortar | |
| 13 Vermont Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 8840 | Union Bank | 20 Lower Main Street, Morrisville, VT 5661 | January 01, 1891 | Full Service Brick and Mortar |  |
| 1 | 231095 | Jeffersonville Branch | Main Street, Jeffersonville, VT 5464 | November 17, 1917 | Full Service Brick and Mortar | |
| 2 | 231096 | Stowe Branch | Pond And Park Streets, Stowe, VT 5672 | January 01, 1891 | Full Service Brick and Mortar | |
| 3 | 231097 | Northgate Plaza Branch | Northgate Plaza, Morrisville, VT 5661 | November 05, 1979 | Full Service Brick and Mortar | |
| 4 | 231098 | Johnson Branch | Route 15 (Main Street), Johnson, VT 5656 | August 22, 1985 | Full Service Brick and Mortar | |
| 7 | 231101 | Hardwick Branch | Wolcott Street, Hardwick, VT 5843 | October 12, 1993 | Full Service Brick and Mortar | |
| 8 | 365419 | Fairfax Branch | Route 104, Fairfax, VT 5454 | April 22, 2002 | Full Service Brick and Mortar | |
| 9 | 8845 | Railroad Street | 364 Railroad Street, Saint Johnsbury, VT 5819 | January 01, 1886 | Full Service Brick and Mortar | |
| 10 | 231119 | Portland Street Branch | 325 Portland Street, St. Johnsbury, VT 5819 | December 04, 1967 | Full Service Brick and Mortar | |
| 11 | 231120 | Green Mountain Mall Branch | Green Mountain Mall, St. Johnsbury, VT 5819 | June 11, 1975 | Full Service Brick and Mortar | |
| 12 | 231121 | Lyndonville Branch | 183 Depot Street, Lyndonville, VT 5851 | September 08, 1995 | Full Service Brick and Mortar | |
| 14 | 480131 | Danville Branch | 421 Route 2, Danville, VT 5828 | July 31, 2008 | Full Service Brick and Mortar | |
| 15 | 481423 | Saint Albans Branch | 15 Mapleville Depot, Saint Albans, VT 5478 | October 04, 2008 | Full Service Brick and Mortar | |
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