Westfield Bank in Westfield, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Westfield Bank in Westfield, Massachusetts (MA)
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Westfield Bank - Overview

  • General
  • FDIC Certificate #: 90300
    Status: Active
    Federal Reserve ID: 892205
    Date Established: April 15, 1853
    WWW: http://www.westfieldbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 12 (Domestic: 12, Interstate: No)
    OTS Docket #: 17968
    FDIC's unique #: 17889
    Numeric code: 33
    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: Commercial Lending Specialization
    Date of Deposit Insurance: July 10, 1985
    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: 141 Elm Street, Westfield, MA 1085
    County: Hampden
    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): Springfield, MA (#8000)
    Core Based Statistical Area (CBSA): Springfield, MA (#44140)
    CBSA Metro Statistical Area: Springfield, MA (#44140)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $1,259.3 mil
    Equity capital: $211.0 mil
    Deposits held in domestic offices: $733.6 mil
    Return on assets (ROA): 0.68% ($8.6 mil)
    Quarterly return on assets: 0.70% ($8.8 mil)
    Return on Equity (ROE): 3.94% ($8.3 mil)
    Quarterly return on equity: 4.06% ($8.6 mil)
    Net income: $8.4 mil
    Quarterly Net income: $2.2 mil
    Pretax return on assets: 0.83% ($10,452.0 mil)
    Quarterly Pretax return on assets: 0.77% ($9,696.4 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
  • 180Total employees (full-time equivalent)
  • $1,259,278Total assets
  • $20,208Cash and due from depository institutions
  • $9,255Interest-bearing balances
  • $617,169Securities
  • $106Federal funds sold & reverse repurchase agreements
  • $546,406Net loans & leases
  • $7,166Loan loss allowance
  • $0Trading account assets
  • $10,923Bank premises and fixed assets
  • $1,130Other real estate owned
  • $74Goodwill and other intangibles
  • $1,259,278Life insurance assets
  • $63,262All other assets
  • $1,048,289Total liabilities and capital
  • $733,600Total liabilities
  • $707,531Total deposits
  • $733,600Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 103640.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $196,665Trading liabilities
  • $0Other borrowed funds
  • $14,384Subordinated debt
  • $210,989All other liabilities
  • $210,989Total equity capital
  • $210,989Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $75,565Surplus
  • $134,924Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,933Income earned, not collected on loans
  • $0Earning assets
  • $3,994Long-term assets (5+ years)
  • $1,172,936Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $1,244,597Volatile liabilities
  • $1,259,181Insider loans
  • $682,379FHLB advances
  • $1,240,979Loans and leases held for sale
  • $44,039Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $200,673Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $92,414Restructured Loans and leases
  • $24,535Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $44,906Total interest income
  • $14,489Total interest expense
  • $30,417Net interest income
  • $1,206Provision for loan and lease losses
  • $3,376Total noninterest income
  • $0Fiduciary activities
  • $967Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,409Additional noninterest income
  • $22,387Total noninterest expense
  • $13,247Salaries and employee benefits
  • $4,061Premises and equipment expense
  • $5,079Additional noninterest expense
  • $10,200Pre-tax net operating income
  • $178Securities gains (losses)
  • $1,955Applicable income taxes
  • $8,423Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,423Net income attributable to bank
  • $0Net charge-offs
  • $8,423Cash dividends
  • $955Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.88%Yield on earning assets
  • 1.25%Cost of funding earning assets
  • 2.63%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 1.94%Noninterest expense to earning assets
  • 0.67%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.83%Pretax return on assets
  • 3.94%Return on equity (ROE)
  • 3.94%Retained earnings to average equity (YTD only)
  • 0.18%Net charge-offs to loans
  • 126.28%Credit loss provision to net charge-offs
  • 11.94%Efficiency ratio
  • 65,892Assets per employee
  • 7.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 244.32%Noncurrent assets plus other real estate owned to assets
  • 0.32%Noncurrent loans to loans
  • 0.53%Net loans and leases to deposits
  • 74.48%Net loans and leases to core deposits
  • 77.55%Equity capital to assets
  • 16.75%Core capital (leverage) ratio
  • 16.17%Tier 1 risk-based capital ratio
  • 29.41%Total risk-based capital ratio
  • Memoranda
  • $30Average assets
  • $1,244,597Average earning assets
  • $213,783Average equity
  • $1,156,274Average loans

List of branches

  • 12 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    017889Westfield Bank141 Elm Street, Westfield, MA 1085April 15, 1853Full Service Brick and Mortar
    1291539Drive-Up Facility26 Arnold Street, Westfield, MA 1085January 21, 1961Full Service Brick and Mortar
    2291540West Springfield Branch206 Park Street, West Springfield, MA 1089April 01, 1948Full Service Brick and Mortar
    3291541Agawam Branch655 Main Street, Agawam, MA 1001June 26, 1968Full Service Brick and Mortar
    4291542Southampton Road Branch300 Southampton Road, Westfield, MA 1085June 15, 1987Full Service Brick and Mortar
    5291543College Highway Branch462 College Highway, Southwick, MA 1077April 30, 1990Full Service Brick and Mortar
    6291544East Longmeadow Branch382 North Main Street, East Longmeadow, MA 1028March 15, 1997Full Service Brick and Mortar
    7291545Main Street Branch1500 Main Street, Springfield, MA 1103July 26, 1999Full Service Brick and Mortar
    9360797Northampton Street Branch1642 Northampton Street, Holyoke, MA 1040June 18, 2001Full Service Brick and Mortar
    10496121Westfield Branch560 East Main Street, Westfield, MA 1085June 13, 2007Full Service Brick and Mortar
    11512916Feeding Hills Branch241 South Westfield Street, Feeding Hills, MA 1030August 10, 2009Full Service Brick and Mortar
    12522176Www.Westfieldbank.com Branch141 Elm Street, Westfield, MA 1085May 28, 2009Full Service Cyber

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