Westmoreland Federal Savings and Loan Association - Overview
General
FDIC Certificate #: 30551 Status: Active Federal Reserve ID: 188177 Date Established: March 12, 1952 WWW:http://www.westfedsav.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 5537 FDIC's unique #: 43385 Numeric code: 38 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: Mortgage Lending Specialization Date of Deposit Insurance: March 12, 1952 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: 322 Main Street, Latrobe, PA 15650 County: Westmoreland Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Wexford Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Pittsburgh, PA (#6280) Combined Statistical Area (CSA): Pittsburgh-New Castle, PA (#430) Core Based Statistical Area (CBSA): Pittsburgh, PA (#38300) CBSA Metro Statistical Area: Pittsburgh, PA (#38300)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $174.3 mil Equity capital: $38.3 mil Deposits held in domestic offices: $135.8 mil Return on assets (ROA): 0.64% ($1.1 mil) Quarterly return on assets: 0.55% ($1.0 mil) Return on Equity (ROE): 2.89% ($1.1 mil) Quarterly return on equity: 2.46% ($0.9 mil) Net income: $1.1 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.03% ($1,794.8 mil) Quarterly Pretax return on assets: 0.87% ($1,516.0 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
19Total employees (full-time equivalent)
$174,254Total assets
$58,822Cash and due from depository institutions
$58,325Interest-bearing balances
$27,032Securities
$0Federal funds sold & reverse repurchase agreements
$86,740Net loans & leases
$413Loan loss allowance
$0Trading account assets
$129Bank premises and fixed assets
$82Other real estate owned
$0Goodwill and other intangibles
$174,254Life insurance assets
$1,449All other assets
$135,906Total liabilities and capital
$135,803Total liabilities
$135,168Total deposits
$135,803Interest-bearing deposits
$98Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$103Subordinated debt
$38,348All other liabilities
$38,348Total equity capital
$38,348Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$38,348Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,365Income earned, not collected on loans
$0Earning assets
$404Long-term assets (5+ years)
$172,097Average Assets, year-to-date
$0Average Assets, quarterly
$170,775Volatile liabilities
$172,404Insider loans
$58,767FHLB advances
$174,278Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$38,372Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$2,443Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,485Total interest income
$1,655Total interest expense
$3,830Net interest income
$0Provision for loan and lease losses
$12Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$12Additional noninterest income
$2,078Total noninterest expense
$1,290Salaries and employee benefits
$233Premises and equipment expense
$555Additional noninterest expense
$1,764Pre-tax net operating income
$0Securities gains (losses)
$671Applicable income taxes
$1,093Income before extraordinary items
$0Extraordinary gains - net
$1,093Net income attributable to bank
$0Net charge-offs
$1,093Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.53%Yield on earning assets
1.07%Cost of funding earning assets
2.47%Net interest margin
0.01%Noninterest income to earning assets
1.34%Noninterest expense to earning assets
0.64%Net operating income to assets
0.64%Return on assets (ROA)
1.03%Pretax return on assets
2.89%Return on equity (ROE)
2.89%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
54,086Assets per employee
9.17%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.47%Loss allowance to noncurrent loans
30.26%Noncurrent assets plus other real estate owned to assets
0.83%Noncurrent loans to loans
1.57%Net loans and leases to deposits
63.87%Net loans and leases to core deposits
63.87%Equity capital to assets
22.01%Core capital (leverage) ratio
22.02%Tier 1 risk-based capital ratio
65.30%Total risk-based capital ratio
Memoranda
$66Average assets
$170,775Average earning assets
$37,835Average equity
$155,296Average loans
List of branches
1 Pennsylvania Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
43385
Westmoreland Federal Savings And Loa
322 Main Street, Latrobe, PA 15650
March 12, 1952
Full Service Brick and Mortar
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