Westfield Bank, FSB in Westfield Center, Ohio (OH)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Westfield Bank, FSB in Westfield Center, Ohio (OH)
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Westfield Bank, FSB - Overview

  • General
  • FDIC Certificate #: 57077
    Status: Active
    Federal Reserve ID: 2986407
    Date Established: Febuary 05, 2001
    WWW: http://www.westfield-bank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 16697
    FDIC's unique #: 356925
    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: Febuary 05, 2001
    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: Two Park Circle, Westfield Center, OH 44251
    County: Medina
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Columbus
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Cleveland-Lorain-Elyria, OH (#1680)
    Consolidated Metropolitan Statistical Area (CMSA): Cleveland-Akron, OH (#28)
    Combined Statistical Area (CSA): Cleveland-Akron-Elyria, OH (#184)
    Core Based Statistical Area (CBSA): Cleveland-Elyria-Mentor, OH (#17460)
    CBSA Metro Statistical Area: Cleveland-Elyria-Mentor, OH (#17460)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $583.4 mil
    Equity capital: $53.0 mil
    Deposits held in domestic offices: $464.4 mil
    Return on assets (ROA): 0.73% ($4.3 mil)
    Quarterly return on assets: 0.66% ($3.8 mil)
    Return on Equity (ROE): 8.50% ($4.5 mil)
    Quarterly return on equity: 7.53% ($4.0 mil)
    Net income: $4.2 mil
    Quarterly Net income: $1.0 mil
    Pretax return on assets: 0.98% ($5,716.8 mil)
    Quarterly Pretax return on assets: 0.82% ($4,783.5 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
  • 82Total employees (full-time equivalent)
  • $583,350Total assets
  • $4,929Cash and due from depository institutions
  • $4,187Interest-bearing balances
  • $169,764Securities
  • $1,633Federal funds sold & reverse repurchase agreements
  • $388,270Net loans & leases
  • $6,920Loan loss allowance
  • $0Trading account assets
  • $505Bank premises and fixed assets
  • $221Other real estate owned
  • $289Goodwill and other intangibles
  • $583,350Life insurance assets
  • $17,739All other assets
  • $530,368Total liabilities and capital
  • $464,433Total liabilities
  • $398,299Total deposits
  • $464,433Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $61,802Trading liabilities
  • $0Other borrowed funds
  • $4,133Subordinated debt
  • $52,982All other liabilities
  • $52,982Total equity capital
  • $52,982Total bank equity capital
  • $0Perpetual preferred stock
  • $20Common stock
  • $37,030Surplus
  • $15,932Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,858Income earned, not collected on loans
  • $0Earning assets
  • $2,182Long-term assets (5+ years)
  • $563,854Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $575,498Volatile liabilities
  • $593,824Insider loans
  • $422,119FHLB advances
  • $578,198Loans and leases held for sale
  • $9,778Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $49,633Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $84,900Restructured Loans and leases
  • $3,436Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $24,018Total interest income
  • $7,630Total interest expense
  • $16,388Net interest income
  • $2,345Provision for loan and lease losses
  • $3,541Total noninterest income
  • $0Fiduciary activities
  • $239Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,302Additional noninterest income
  • $12,422Total noninterest expense
  • $7,112Salaries and employee benefits
  • $1,746Premises and equipment expense
  • $3,564Additional noninterest expense
  • $5,162Pre-tax net operating income
  • $450Securities gains (losses)
  • $1,427Applicable income taxes
  • $4,185Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,185Net income attributable to bank
  • $0Net charge-offs
  • $4,185Cash dividends
  • $1,832Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.33%Yield on earning assets
  • 1.38%Cost of funding earning assets
  • 2.96%Net interest margin
  • 0.64%Noninterest income to earning assets
  • 2.24%Noninterest expense to earning assets
  • 0.67%Net operating income to assets
  • 0.73%Return on assets (ROA)
  • 0.98%Pretax return on assets
  • 8.50%Return on equity (ROE)
  • 8.50%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 128.00%Credit loss provision to net charge-offs
  • 4.10%Efficiency ratio
  • 62,331Assets per employee
  • 7.11%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.75%Loss allowance to noncurrent loans
  • 88.06%Noncurrent assets plus other real estate owned to assets
  • 1.38%Noncurrent loans to loans
  • 1.99%Net loans and leases to deposits
  • 83.60%Net loans and leases to core deposits
  • 99.24%Equity capital to assets
  • 9.08%Core capital (leverage) ratio
  • 8.58%Tier 1 risk-based capital ratio
  • 11.76%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $575,498Average earning assets
  • $49,213Average equity
  • $554,124Average loans

List of branches

  • 4 Ohio Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0356925Westfield Bank, FsbTwo Park Circle, Westfield Center, OH 44251Febuary 05, 2001Full Service Brick and Mortar
    1492573Fairlawn Branch2635 W. Market St, Fairlawn, OH 44333January 02, 2008Full Service Brick and Mortar
    2495484Medina Branch4992 Foote Rd., Medina, OH 44256June 12, 2006Full Service Brick and Mortar
    3517925Wooster Branch343 West Milltown Road, Wooster, OH 44691April 26, 2010Full Service Brick and Mortar

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