Washington Savings Bank in Lowell, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Washington Savings Bank - Overview

  • General
  • FDIC Certificate #: 90229
    Status: Active
    Federal Reserve ID: 654300
    Date Established: April 06, 1892
    WWW: http://www.washingtonsavings.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 10862
    FDIC's unique #: 17819
    Numeric code: 13
    Regulator: FED
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: October 10, 1985
    Last Structure Change Effective Date: March 19, 2012
    Last Structure Change Process Date: March 30, 2012
    Last Data Update: March 30, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 30 Middlesex Street, Lowell, MA 1852
    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): Lowell, MA-NH (#4560)
    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)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Institution Becomes a Member of FRS (Federal Reserve System)
  • Financial Summary
  • Total assets: $181.8 mil
    Equity capital: $17.3 mil
    Deposits held in domestic offices: $141.5 mil
    Return on assets (ROA): 0.17% ($0.3 mil)
    Quarterly return on assets: 0.24% ($0.4 mil)
    Return on Equity (ROE): 1.73% ($0.3 mil)
    Quarterly return on equity: 2.57% ($0.4 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.12% ($218.2 mil)
    Quarterly Pretax return on assets: 0.27% ($491.0 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
  • 43Total employees (full-time equivalent)
  • $181,834Total assets
  • $14,434Cash and due from depository institutions
  • $13,350Interest-bearing balances
  • $49,746Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $106,574Net loans & leases
  • $1,084Loan loss allowance
  • $0Trading account assets
  • $2,342Bank premises and fixed assets
  • $0Other real estate owned
  • $285Goodwill and other intangibles
  • $181,834Life insurance assets
  • $8,453All other assets
  • $164,511Total liabilities and capital
  • $141,510Total liabilities
  • $129,912Total deposits
  • $141,510Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $21,726Trading liabilities
  • $0Other borrowed funds
  • $1,275Subordinated debt
  • $17,323All other liabilities
  • $17,323Total equity capital
  • $17,323Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $17,323Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,651Income earned, not collected on loans
  • $0Earning assets
  • $904Long-term assets (5+ years)
  • $169,670Average Assets, year-to-date
  • $79,112Average Assets, quarterly
  • $176,855Volatile liabilities
  • $181,953Insider loans
  • $107,646FHLB advances
  • $179,436Loans and leases held for sale
  • $4,276Unused loan commitments
  • $3,949Tier 1 (core) risk-based capital
  • $16,587Tier 2 risk-based capital
  • $327Total risk weighted assets
  • $0Total unused commitments
  • $7,828Restructured Loans and leases
  • $50Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,913Total interest income
  • $1,965Total interest expense
  • $4,948Net interest income
  • $462Provision for loan and lease losses
  • $1,117Total noninterest income
  • $0Fiduciary activities
  • $394Service charges on deposit accounts
  • $0Trading account gains & fees
  • $723Additional noninterest income
  • $5,445Total noninterest expense
  • $2,755Salaries and employee benefits
  • $565Premises and equipment expense
  • $2,125Additional noninterest expense
  • $158Pre-tax net operating income
  • $60Securities gains (losses)
  • -$76Applicable income taxes
  • $294Income before extraordinary items
  • $0Extraordinary gains - net
  • $294Net income attributable to bank
  • $0Net charge-offs
  • $294Cash dividends
  • $756Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.19%Yield on earning assets
  • 1.19%Cost of funding earning assets
  • 3.00%Net interest margin
  • 0.68%Noninterest income to earning assets
  • 3.30%Noninterest expense to earning assets
  • 0.13%Net operating income to assets
  • 0.17%Return on assets (ROA)
  • 0.12%Pretax return on assets
  • 1.73%Return on equity (ROE)
  • 1.73%Retained earnings to average equity (YTD only)
  • 0.72%Net charge-offs to loans
  • 61.11%Credit loss provision to net charge-offs
  • 0.82%Efficiency ratio
  • 89,777Assets per employee
  • 4.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.01%Loss allowance to noncurrent loans
  • 40.89%Noncurrent assets plus other real estate owned to assets
  • 1.46%Noncurrent loans to loans
  • 2.46%Net loans and leases to deposits
  • 75.31%Net loans and leases to core deposits
  • 85.17%Equity capital to assets
  • 9.53%Core capital (leverage) ratio
  • 9.24%Tier 1 risk-based capital ratio
  • 15.41%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $176,855Average earning assets
  • $17,006Average equity
  • $164,964Average 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
  • $5,620Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 852Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $5,620Other retirement accounts
  • $5,620Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017819Washington Savings Bank30 Middlesex Street, Lowell, MA 1852April 06, 1892Full Service Brick and Mortar
    1291281Tyngsborough Branch253 Middlesex Road, Tyngsborough, MA 1879October 31, 1998Full Service Brick and Mortar
    2291282Dracut Branch100 Broadway Road, Dracut, MA 1826September 27, 1997Full Service Brick and Mortar

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