Weymouth Bank in East Weymouth, Massachusetts (MA)
| Weymouth Bank | |
|---|---|
| General | FDIC Certificate #: 26591 Status: Active Federal Reserve ID: 115575 Bank Holding Company (Regulatory Top Holder): Wessagussett Mutual Holding Company (RSSDID: 3398315, Location: Weymouth, MA) Date Established: January 01, 1889 WWW: http://www.weymouthbank.com Trust Powers Granted: No Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) OTS Docket #: 8348 FDIC's unique #: 35296 Numeric code: 42 Regulator: FDIC 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: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: March 11, 1986 Last Structure Change Effective Date: October 31, 2006 Last Structure Change Process Date: October 31, 2006 Last Data Update: October 31, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 744 Broad Street, East Weymouth, MA 2189 County: Norfolk 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): Boston, MA-NH (#1120) 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): Boston-Cambridge-Quincy, MA-NH (#14460) CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460) Core Based Statistical Division: Boston-Quincy, MA (#14484) |
| Financial Summary | Total assets: $207.4 mil Equity capital: $16.4 mil Deposits held in domestic offices: $185.0 mil Return on assets (ROA): 0.35% ($0.7 mil) Quarterly return on assets: 0.15% ($0.3 mil) Return on Equity (ROE): 4.34% ($0.7 mil) Quarterly return on equity: 1.88% ($0.3 mil) Net income: $0.7 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.52% ($1,078.4 mil) Quarterly Pretax return on assets: 0.01% ($20.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 37 |
| Total assets | $207,393 |
| Cash and due from depository institutions | $18,651 |
| Interest-bearing balances | $15,404 |
| Securities | $47,189 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $130,740 |
| Loan loss allowance | $1,349 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,091 |
| Other real estate owned | $400 |
| Goodwill and other intangibles | $65 |
| All other assets | $6,257 |
| Life insurance assets | $207,393 |
| Total liabilities and capital | $191,005 |
| Total liabilities | $184,993 |
| Total deposits | $168,788 |
| Interest-bearing deposits | $184,993 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 90.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $5,500 |
| Other borrowed funds | $0 |
| Subordinated debt | $422 |
| All other liabilities | $16,388 |
| Total equity capital | $16,388 |
| Total bank equity capital | $16,388 |
| Perpetual preferred stock | $0 |
| Common stock | $125 |
| Surplus | $15,394 |
| Undivided profits | $869 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $2,639 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $605 |
| Average Assets, year-to-date | $193,333 |
| Average Assets, quarterly | $68,890 |
| Volatile liabilities | $200,911 |
| Insider loans | $204,545 |
| FHLB advances | $119,013 |
| Loans and leases held for sale | $200,729 |
| Unused loan commitments | $2,922 |
| Tier 1 (core) risk-based capital | $2,922 |
| Tier 2 risk-based capital | $16,217 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $7,772 |
| Derivatives | $1,940 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $8,139 |
| Total interest expense | $1,805 |
| Net interest income | $6,334 |
| Provision for loan and lease losses | $660 |
| Total noninterest income | $797 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $303 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $494 |
| Total noninterest expense | $5,436 |
| Salaries and employee benefits | $2,982 |
| Premises and equipment expense | $691 |
| Additional noninterest expense | $1,763 |
| Pre-tax net operating income | $1,035 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $337 |
| Income before extraordinary items | $698 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $698 |
| Net charge-offs | $0 |
| Cash dividends | $698 |
| Sale, conversion, retirement of capital stock, net | $669 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.32% |
| Cost of funding earning assets | 0.96% |
| Net interest margin | 3.36% |
| Noninterest income to earning assets | 0.42% |
| Noninterest expense to earning assets | 2.89% |
| Net operating income to assets | 0.35% |
| Return on assets (ROA) | 0.35% |
| Pretax return on assets | 0.52% |
| Return on equity (ROE) | 4.34% |
| Retained earnings to average equity (YTD only) | 4.34% |
| Net charge-offs to loans | 0.50% |
| Credit loss provision to net charge-offs | 98.65% |
| Efficiency ratio | 2.53% |
| Assets per employee | $76,231 |
| Cash dividends to net income (YTD only) | 5.61% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.02% |
| Noncurrent assets plus other real estate owned to assets | 51.12% |
| Noncurrent loans to loans | 1.47% |
| Net loans and leases to deposits | 2.00% |
| Net loans and leases to core deposits | 70.67% |
| Equity capital to assets | 78.64% |
| Core capital (leverage) ratio | 7.90% |
| Tier 1 risk-based capital ratio | 8.08% |
| Total risk-based capital ratio | 13.63% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $200,911 |
| Average equity | $16,089 |
| Average loans | $188,247 |
| 4 Massachusetts Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 35296 | Weymouth Bank | 744 Broad Street, East Weymouth, MA 2189 | January 01, 1889 | Full Service Brick and Mortar |  |
| 4 | 259731 | Drive-Up Branch | 741 Broad Street, East Weymouth, MA 2189 | August 30, 1993 | Limited Service Facility |  |
| 5 | 259732 | South Weymouth Branch | 51 Columbian Street, South Weymouth, MA 2190 | August 30, 1993 | Full Service Brick and Mortar | |
| 6 | 419000 | Kingston Branch | 83 Summer Street, Kingston, MA 2364 | August 12, 2002 | Full Service Brick and Mortar | |
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