FDIC Certificate #: 90299 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Avidia Bank (#90215) Federal Reserve ID: 704906 Date Established: January 01, 1869 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 5 (Interstate: No) OTS Docket #: 11896 FDIC's unique #: 17888 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: September 05, 1985 Last Structure Change Effective Date: August 24, 2007 Last Structure Change Process Date: September 04, 2007 Last Data Update: September 04, 2007 Data Source Date: April 05, 2012
Location
Address: 100 East Main Street, Westborough, MA 1581 County: Worcester 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 Metropolitan Statistical Area (MSA): Worcester, MA-CT (#9240) 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): Worcester, MA (#49340) CBSA Metro Statistical Area: Worcester, MA (#49340)
Financial Summary
Total assets: $297.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
71Total employees (full-time equivalent)
$299,813Total assets
$3,631Cash and due from depository institutions
$272Interest-bearing balances
$61,370Securities
$3,322Federal funds sold & reverse repurchase agreements
$211,017Net loans & leases
$810Loan loss allowance
$0Trading account assets
$6,456Bank premises and fixed assets
$0Other real estate owned
$685Goodwill and other intangibles
$6,841Life insurance assets
$13,332All other assets
$299,813Total liabilities and capital
$271,940Total liabilities
$208,888Total deposits
$187,160Interest-bearing deposits
$208,888Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$60,295Other borrowed funds
$0Subordinated debt
$2,757All other liabilities
$27,873Total equity capital
$27,873Total bank equity capital
$27,873Perpetual preferred stock
$0Common stock
$0Surplus
$28,774Undivided profits
Memoranda
$-901Noncurrent loans and leases
$26,392Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,060Earning assets
$0Long-term assets (5+ years)
$1,117Average Assets, year-to-date
$275,981Average Assets, quarterly
$112,609Volatile liabilities
$300,354Insider loans
$300,105FHLB advances
$31,939Loans and leases held for sale
$3,235Unused loan commitments
$60,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$26,392Total unused commitments
$0Restructured Loans and leases
$814Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$14,670Total interest income
$7,356Total interest expense
$7,314Net interest income
$30Provision for loan and lease losses
$753Total noninterest income
$0Fiduciary activities
$283Service charges on deposit accounts
$0Trading account gains & fees
$470Additional noninterest income
$8,351Total noninterest expense
$4,947Salaries and employee benefits
$1,067Premises and equipment expense
$2,337Additional noninterest expense
-$314Pre-tax net operating income
$3Securities gains (losses)
-$235Applicable income taxes
-$76Income before extraordinary items
$0Extraordinary gains - net
-$76Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$6Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.30%Yield on earning assets
2.66%Cost of funding earning assets
2.64%Net interest margin
0.27%Noninterest income to earning assets
3.02%Noninterest expense to earning assets
-0.03%Net operating income to assets
-0.03%Return on assets (ROA)
-0.10%Pretax return on assets
-0.27%Return on equity (ROE)
-0.27%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
500.00%Credit loss provision to net charge-offs
-47.33%Efficiency ratio
103,521Assets per employee
4.22%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.38%Loss allowance to noncurrent loans
76.42%Noncurrent assets plus other real estate owned to assets
0.35%Noncurrent loans to loans
0.50%Net loans and leases to deposits
101.02%Net loans and leases to core deposits
115.34%Equity capital to assets
9.30%Core capital (leverage) ratio
9.38%Tier 1 risk-based capital ratio
14.64%Total risk-based capital ratio
Memoranda
$15Average assets
$300,354Average earning assets
$27,961Average equity
$276,844Average loans
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