Union Federal Savings Bank in North Providence, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Union Federal Savings Bank in North Providence, Rhode Island (RI)
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Union Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 57189
    Status: Active
    Federal Reserve ID: 3048937
    Date Established: November 12, 2001
    WWW: http://www.unionfsb.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 17338
    FDIC's unique #: 359358
    Numeric code: 37
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
    Date of Deposit Insurance: November 12, 2001
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1565 Mineral Spring Avenue, North Providence, RI 2904
    County: Providence
    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): Providence-Fall River-Warwick, RI-MA (#6480)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $125.5 mil
    Equity capital: $15.1 mil
    Deposits held in domestic offices: $109.5 mil
    Return on assets (ROA): -2.24% (-$2.8 mil)
    Quarterly return on assets: -1.02% (-$1.3 mil)
    Return on Equity (ROE): -14.56% (-$2.2 mil)
    Quarterly return on equity: -7.93% (-$1.2 mil)
    Net income: -$1.9 mil
    Quarterly Net income: -$0.3 mil
    Pretax return on assets: -2.24% (-$2,811.1 mil)
    Quarterly Pretax return on assets: -1.02% (-$1,280.1 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
  • 10Total employees (full-time equivalent)
  • $125,497Total assets
  • $60,568Cash and due from depository institutions
  • $60,247Interest-bearing balances
  • $37,641Securities
  • $500Federal funds sold & reverse repurchase agreements
  • $24,775Net loans & leases
  • $356Loan loss allowance
  • $0Trading account assets
  • $0Bank premises and fixed assets
  • $0Other real estate owned
  • $5Goodwill and other intangibles
  • $125,497Life insurance assets
  • $2,008All other assets
  • $110,439Total liabilities and capital
  • $109,528Total liabilities
  • $69,257Total deposits
  • $109,528Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $911Subordinated debt
  • $15,058All other liabilities
  • $15,058Total equity capital
  • $15,058Total bank equity capital
  • $0Perpetual preferred stock
  • $4,000Common stock
  • $107,689Surplus
  • $-96,631Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $469Income earned, not collected on loans
  • $0Earning assets
  • $258Long-term assets (5+ years)
  • $123,163Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $84,221Volatile liabilities
  • $102,667Insider loans
  • $28,158FHLB advances
  • $125,134Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,684Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,105Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $995Total interest income
  • $580Total interest expense
  • $415Net interest income
  • $310Provision for loan and lease losses
  • $401Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $401Additional noninterest income
  • $2,395Total noninterest expense
  • $924Salaries and employee benefits
  • $458Premises and equipment expense
  • $1,013Additional noninterest expense
  • -$1,889Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1Applicable income taxes
  • -$1,888Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,888Net income attributable to bank
  • $0Net charge-offs
  • -$1,888Cash dividends
  • $262Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 1.23%Yield on earning assets
  • 0.71%Cost of funding earning assets
  • 0.51%Net interest margin
  • 0.49%Noninterest income to earning assets
  • 2.95%Noninterest expense to earning assets
  • -2.24%Net operating income to assets
  • -2.24%Return on assets (ROA)
  • -2.24%Pretax return on assets
  • -14.56%Return on equity (ROE)
  • -14.56%Retained earnings to average equity (YTD only)
  • 2.12%Net charge-offs to loans
  • 118.32%Credit loss provision to net charge-offs
  • -6.03%Efficiency ratio
  • 250,980Assets per employee
  • 12.55%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.42%Loss allowance to noncurrent loans
  • 75.91%Noncurrent assets plus other real estate owned to assets
  • 0.37%Noncurrent loans to loans
  • 1.87%Net loans and leases to deposits
  • 22.62%Net loans and leases to core deposits
  • 22.94%Equity capital to assets
  • 12.00%Core capital (leverage) ratio
  • 11.74%Tier 1 risk-based capital ratio
  • 52.15%Total risk-based capital ratio
  • Memoranda
  • $53Average assets
  • $84,221Average earning assets
  • $12,971Average equity
  • $81,215Average loans

List of branches

  • 1 Rhode Island Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0359358Union Federal Savings Bank1565 Mineral Spring Avenue, North Providence, RI 2904November 12, 2001Full Service Brick and Mortar

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