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

This bank is inactive as of June 01, 2005

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

  • General
  • FDIC Certificate #: 90301
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Berkshire Bank (#23621)
    Federal Reserve ID: 618405
    Date Established: May 05, 1871
    WWW: http://www.woronoco.com
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 10 (Interstate: No)
    OTS Docket #: 8509
    FDIC's unique #: 17890
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: November 20, 1985
    Last Structure Change Effective Date: June 01, 2005
    Last Structure Change Process Date: June 14, 2005
    Last Data Update: June 14, 2005
    Data Source Date: April 05, 2012
  • Location
  • Address: 31 Court 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)
  • Financial Summary
  • Total assets: $912.5 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
  • 176Total employees (full-time equivalent)
  • $918,890Total assets
  • $17,341Cash and due from depository institutions
  • $449Interest-bearing balances
  • $242,497Securities
  • $4,900Federal funds sold & reverse repurchase agreements
  • $610,963Net loans & leases
  • $3,651Loan loss allowance
  • $0Trading account assets
  • $10,363Bank premises and fixed assets
  • $0Other real estate owned
  • $4,496Goodwill and other intangibles
  • $0Life insurance assets
  • $28,330All other assets
  • $918,890Total liabilities and capital
  • $845,267Total liabilities
  • $485,947Total deposits
  • $447,891Interest-bearing deposits
  • $485,947Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $9,284Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $346,507Other borrowed funds
  • $0Subordinated debt
  • $3,529All other liabilities
  • $73,623Total equity capital
  • $73,623Total bank equity capital
  • $73,623Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $69,274Undivided profits
  • Memoranda
  • $4,348Noncurrent loans and leases
  • $118,482Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $466Earning assets
  • $0Long-term assets (5+ years)
  • $3,413Average Assets, year-to-date
  • $858,809Average Assets, quarterly
  • $425,452Volatile liabilities
  • $864,226Insider loans
  • $908,683FHLB advances
  • $263,837Loans and leases held for sale
  • $1,606Unused loan commitments
  • $343,798Tier 1 (core) risk-based capital
  • $25,000Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $118,482Total unused commitments
  • $0Restructured Loans and leases
  • $3,705Derivatives

Income and Expense (December 31, 2004)

  • Dollar figures in thousands
  • $40,773Total interest income
  • $20,017Total interest expense
  • $20,756Net interest income
  • $373Provision for loan and lease losses
  • $6,305Total noninterest income
  • $29Fiduciary activities
  • $2,982Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,294Additional noninterest income
  • $21,698Total noninterest expense
  • $14,664Salaries and employee benefits
  • $2,060Premises and equipment expense
  • $4,974Additional noninterest expense
  • $4,990Pre-tax net operating income
  • $0Securities gains (losses)
  • $795Applicable income taxes
  • $4,195Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,195Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2004)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 2.49%Cost of funding earning assets
  • 2.58%Net interest margin
  • 0.78%Noninterest income to earning assets
  • 2.70%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.49%Return on assets (ROA)
  • 0.58%Pretax return on assets
  • 5.91%Return on equity (ROE)
  • 5.91%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 18650.00%Credit loss provision to net charge-offs
  • 2681.50%Efficiency ratio
  • 79,975Assets per employee
  • 5.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.59%Loss allowance to noncurrent loans
  • 783.48%Noncurrent assets plus other real estate owned to assets
  • 0.05%Noncurrent loans to loans
  • 0.08%Net loans and leases to deposits
  • 125.73%Net loans and leases to core deposits
  • 168.47%Equity capital to assets
  • 8.01%Core capital (leverage) ratio
  • 7.54%Tier 1 risk-based capital ratio
  • 12.28%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $864,226Average earning assets
  • $70,927Average equity
  • $804,348Average loans

Total Fiduciary and Related Assets (December 31, 2004)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $3,465Managed Assets
  • 1Number of Accounts
  • $3,465Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $3,465Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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