FDIC Certificate #: 30804 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Newport Federal Savings Bank (#30626) Federal Reserve ID: 561275 Date Established: January 01, 1888 WWW:http://www.wsb.net Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 5943 FDIC's unique #: 43638 Numeric code: 36 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: April 16, 1956 Last Structure Change Effective Date: October 14, 2005 Last Structure Change Process Date: November 08, 2005 Last Data Update: November 08, 2005 Data Source Date: April 05, 2012
Location
Address: 8 Union Street, Westerly, RI 2891 County: Washington 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): New London-Norwich, CT-RI (#5520) 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)
Financial Summary
Total assets: $74.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2004)
Dollar figures in thousands
18Total employees (full-time equivalent)
$77,264Total assets
$9,168Cash and due from depository institutions
$8,420Interest-bearing balances
$4Securities
$1,950Federal funds sold & reverse repurchase agreements
$62,920Net loans & leases
$331Loan loss allowance
$0Trading account assets
$1,864Bank premises and fixed assets
$0Other real estate owned
$182Goodwill and other intangibles
$48Life insurance assets
$1,176All other assets
$77,264Total liabilities and capital
$72,344Total liabilities
$58,187Total deposits
$53,790Interest-bearing deposits
$58,187Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$13,922Other borrowed funds
$0Subordinated debt
$235All other liabilities
$4,920Total equity capital
$4,920Total bank equity capital
$4,920Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$4,920Noncurrent loans and leases
$14,186Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$78Earning assets
$0Long-term assets (5+ years)
$255Average Assets, year-to-date
$73,294Average Assets, quarterly
$0Volatile liabilities
$71,377Insider loans
$74,290FHLB advances
$32,781Loans and leases held for sale
$3Unused loan commitments
$13,922Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$14,186Total unused commitments
$0Restructured Loans and leases
$331Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$3,501Total interest income
$1,346Total interest expense
$2,155Net interest income
$24Provision for loan and lease losses
$432Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$432Additional noninterest income
$2,168Total noninterest expense
$1,388Salaries and employee benefits
$456Premises and equipment expense
$324Additional noninterest expense
$395Pre-tax net operating income
$138Securities gains (losses)
$218Applicable income taxes
$315Income before extraordinary items
$0Extraordinary gains - net
$315Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.19%Yield on earning assets
2.00%Cost of funding earning assets
3.19%Net interest margin
0.64%Noninterest income to earning assets
3.21%Noninterest expense to earning assets
0.32%Net operating income to assets
0.44%Return on assets (ROA)
0.75%Pretax return on assets
6.67%Return on equity (ROE)
6.67%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
83,804Assets per employee
4.29%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.52%Loss allowance to noncurrent loans
424.36%Noncurrent assets plus other real estate owned to assets
0.10%Noncurrent loans to loans
0.12%Net loans and leases to deposits
108.13%Net loans and leases to core deposits
159.99%Equity capital to assets
6.37%Core capital (leverage) ratio
6.37%Tier 1 risk-based capital ratio
10.72%Total risk-based capital ratio
Memoranda
$11Average assets
$71,377Average earning assets
$4,720Average equity
$67,459Average loans
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