Wellesley Bank in Wellesley, Massachusetts (MA)



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Wellesley Bank
GeneralFDIC Certificate #: 26605
Status: Active
Federal Reserve ID: 278078
Date Established: January 01, 1911
WWW: http://www.wellesleybank.com
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 12405
FDIC's unique #: 35326
Numeric code: 41
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: Commercial Lending Specialization
Date of Deposit Insurance: March 27, 1986
Last Structure Change Effective Date: January 25, 2012
Last Structure Change Process Date: January 31, 2012
Last Data Update: January 31, 2012
Data Source Date: April 05, 2012
LocationAddress: 40 Central Street, Wellesley, MA 2482
County: Norfolk
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: Boston-Quincy, MA (#14484)
History of ChangesChange in Entity Type
Financial SummaryTotal assets: $303.2 mil
Equity capital: $22.7 mil
Deposits held in domestic offices: $264.9 mil
Return on assets (ROA): 0.73% ($2.2 mil)
Quarterly return on assets: 0.72% ($2.2 mil)
Return on Equity (ROE): 9.32% ($2.1 mil)
Quarterly return on equity: 9.27% ($2.1 mil)
Net income: $2.0 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 1.15% ($3,486.3 mil)
Quarterly Pretax return on assets: 1.14% ($3,456.0 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)
Total employees (full-time equivalent)32
Total assets$303,159
Cash and due from depository institutions$33,624
Interest-bearing balances$32,892
Securities$36,089
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$221,888
Loan loss allowance $3,395
Trading account assets$0
Bank premises and fixed assets$1,168
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$10,390
Life insurance assets$303,159
Total liabilities and capital$280,427
Total liabilities$264,923
Total deposits$217,072
Interest-bearing deposits$264,923
Deposits held in domestic offices$83
% insured (estimated)7059.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$7,500
Other borrowed funds $0
Subordinated debt $945
All other liabilities $22,732
Total equity capital$22,732
Total bank equity capital$22,732
Perpetual preferred stock$0
Common stock$0
Surplus$17,992
Undivided profits $4,740
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 $6,841
Earning assets $0
Long-term assets (5+ years) $911
Average Assets, year-to-date $290,869
Average Assets, quarterly $56,912
Volatile liabilities $274,191
Insider loans $288,762
FHLB advances $207,458
Loans and leases held for sale $283,124
Unused loan commitments $4,208
Tier 1 (core) risk-based capital $4,208
Tier 2 risk-based capital $22,104
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $40,918
Derivatives$4,012
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,991
Total interest expense $2,709
Net interest income $10,282
Provision for loan and lease losses $900
Total noninterest income $516
Fiduciary activities $0
Service charges on deposit accounts $42
Trading account gains & fees $0
Additional noninterest income $474
Total noninterest expense $6,770
Salaries and employee benefits $4,240
Premises and equipment expense $855
Additional noninterest expense $1,675
Pre-tax net operating income $3,128
Securities gains (losses) $18
Applicable income taxes $1,140
Income before extraordinary items $2,006
Extraordinary gains - net $0
Net income attributable to bank $2,006
Net charge-offs $0
Cash dividends $2,006
Sale, conversion, retirement of capital stock, net $195
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 assets4.94%
Cost of funding earning assets 1.03%
Net interest margin 3.91%
Noninterest income to earning assets 0.20%
Noninterest expense to earning assets 2.58%
Net operating income to assets 0.73%
Return on assets (ROA) 0.73%
Pretax return on assets 1.15%
Return on equity (ROE) 9.32%
Retained earnings to average equity (YTD only) 9.32%
Net charge-offs to loans 0.09%
Credit loss provision to net charge-offs 461.54%
Efficiency ratio20.66%
Assets per employee$62,697
Cash dividends to net income (YTD only)9.47%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.51%
Noncurrent assets plus other real estate owned to assets 49.63%
Noncurrent loans to loans 2.26%
Net loans and leases to deposits3.04%
Net loans and leases to core deposits 83.76%
Equity capital to assets 97.40%
Core capital (leverage) ratio 7.50%
Tier 1 risk-based capital ratio 7.81%
Total risk-based capital ratio 10.65%
Memoranda
Average assets$12
Average earning assets$274,191
Average equity $21,518
Average loans $262,749
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2 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
035326Wellesley Bank40 Central Street, Wellesley, MA 2482January 01, 1911Full Service Brick and Mortar
1364343Linden Street Branch195-197 Linden Street, Wellesley, MA 2482May 28, 2002Full Service Brick and Mortar
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