Liberty Bank

Report generated from DepositInsuredBanks.com
DepositInsuredBanks.com


Overview

FDIC Cert 17943
Address
315 Main Street, Middletown, CT 6457
FDIC Unique Number 11877
Federal Reserve ID 587800
Federal Reserve ID for Bank Holding Company 0
OCC Charter Number 0
OTS Docket Number 6722
MSA
County Middlesex
Website http://www.liberty-bank.com
Established On 05/15/1825
Insured On 01/02/1959
Holding Company
Regulator Federal Deposit Insurance Corporation
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 48
Foreign Offices
Bank Charter Class SB - Savings banks, state charter, supervised by the FDIC

Recent Changes

Participated in Absorption/Consolidation/Merger

Financial Snapshot

USD, Thousands
Total Assets 3,962,626
Total Deposits 2,887,816
Domestic Deposits 2,887,816
Bank Equity Capital 603,586
Year to Date Quarterly
Net Income USD, 000 20,366 9,056
Return on Assets 0.7% 0.91%
Return on Equity 4.52% 5.99%
Pre-Tax Return on Assets 1.04% 1.4%
as of 09/30/2015

Financial Health

As of 09/30/2015
Low Risk

The Texas ratio is a measure of a bank's credit troubles. It is a way to measure how risky a bank is. The higher the Texas ratio, the more severe the credit troubles. Any bank with a TX Ratio near or greater than 100% is considered at risk. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets (Non performing loans + Real Estate Owned) by the sum of its tangible common equity capital and loan loss reserves.

Liberty Bank has a texas ratio of 4.08 which puts it at low risk. As of 09/30/2015 the bank had $25,407 Non Current Loans and Leases, $680 Other Real Estate Owned, $603,586 Total Equity Capital and $35,653 Loan Loss Allowance.

Historical Texas Ratios

Date Non Current Loans and Leases Other Real Estate Owned Total Equity Capital Loan Loss Allowance TX Ratio
09/30/2015 $25,407 $680 $603,586 $35,653 4.08
06/30/2015 $25,520 $511 $606,472 $38,212 4.04
03/31/2015 $24,588 $474 $600,196 $37,885 3.93
12/31/2014 $26,323 $504 $592,235 $37,438 4.26
09/30/2014 $27,430 $495 $593,579 $39,125 4.41
06/30/2014 $28,063 $547 $590,567 $39,887 4.54
03/31/2014 $32,279 $248 $582,728 $39,015 5.23
12/31/2013 $33,207 $285 $576,747 $38,208 5.45
09/30/2013 $31,322 $824 $547,966 $40,212 5.47
06/30/2013 $29,769 $450 $536,637 $40,377 5.24
03/31/2013 $21,357 $537 $529,395 $39,022 3.85
12/31/2012 $23,424 $691 $516,033 $37,617 4.36
09/30/2012 $24,349 $825 $505,068 $37,927 4.64
06/30/2012 $22,497 $852 $493,012 $36,894 4.41
03/31/2012 $51,908 $1,193 $488,978 $36,474 10.11
12/31/2011 $48,757 $781 $474,314 $36,393 9.7
09/30/2011 $47,717 $139 $473,264 $38,108 9.36
06/30/2011 $68,584 $618 $482,483 $38,574 13.28
03/31/2011 $100,020 $868 $475,008 $49,324 19.24
12/31/2010 $95,765 $296 $463,023 $47,477 18.82
09/30/2010 $89,585 $637 $452,746 $47,334 18.04
06/30/2010 $35,258 $702 $449,224 $33,181 7.45
03/31/2010 $10,143 $0 $450,455 $33,369 2.1
12/31/2009 $16,859 $0 $442,447 $32,709 3.55
09/30/2009 $3,377 $0 $433,165 $28,841 0.73
06/30/2009 $1,258 $0 $418,501 $28,165 0.28
03/31/2009 $1,229 $0 $404,616 $27,473 0.28

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Assets and Liabilities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total employees (full-time equivalent) 624 621 616 621 628 Chart
Total Assets 3,962,626 3,981,594 3,850,266 3,816,965 3,700,462 Chart
Cash & Balances due from depository institutions 151,250 95,491 66,709 79,570 63,335 Chart
Interest-bearing balances 117,910 59,187 37,484 37,433 30,976 Chart
Securities 718,251 739,270 739,814 730,318 709,037 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 2,917,972 2,980,226 2,876,750 2,840,903 2,776,344 Chart
Loan loss allowance 35,653 38,212 37,885 37,438 39,125 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 26,803 27,396 27,987 28,711 28,427 Chart
Other real estate owned 680 511 474 504 495 Chart
Goodwill and other intangibles 18,352 18,510 18,647 18,861 19,040 Chart
All other assets 129,318 120,190 119,885 118,098 103,784 Chart
Total Liabilities and Capital 3,962,626 3,981,594 3,850,266 3,816,965 3,700,462 Chart
Total Liabilities 3,359,040 3,375,122 3,250,070 3,224,730 3,106,883 Chart
Total deposits 2,887,816 2,946,121 2,933,724 2,829,000 2,805,921 Chart
Interest-bearing deposits 2,259,532 2,277,560 2,299,980 2,199,334 2,215,220 Chart
Deposits held in domestic offices 2,887,816 2,946,121 2,933,724 2,829,000 2,805,921 Chart
% insured (estimated) 89% 89% 89% 88% 88% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 390,535 353,913 239,986 315,057 244,128 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 80,689 75,088 76,360 80,673 56,834 Chart
Total equity capital 603,586 606,472 600,196 592,235 593,579 Chart
Bank equity capital 603,586 606,472 600,196 592,235 593,579 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 0 0 0 0 0 Chart
Surplus 6,926 6,926 6,926 6,926 6,926 Chart
Undivided profits 596,660 599,546 593,270 585,309 586,653 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 25,407 25,520 24,588 26,323 27,430 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 0 0 0 0 0 Chart
Income earned, not collected on loans 10,173 10,426 10,133 9,984 9,935 Chart
Earning assets 3,754,133 3,778,683 3,654,048 3,608,654 3,516,357 Chart
Long-term assets (5+ years) 1,157,808 1,331,181 1,295,507 1,336,232 1,183,111 Chart
Average total assets 3,902,863 3,882,942 3,833,616 3,684,760 3,651,708 Chart
Average assets, quarterly 3,972,110 3,915,930 3,833,616 3,758,714 3,698,010 Chart
Total risk weighted assets adjusted 3,628,105 3,758,952 3,658,608 3,290,908 3,151,496 Chart
Adjusted average assets for leverage capital purposes 3,913,254 3,839,620 3,726,216 3,675,389 3,610,954 Chart
Life insurance assets 57,735 57,520 57,306 57,834 57,524 Chart
General account life insurance assets 2,903 2,888 2,879 3,613 3,548 Chart
Separate account life insurance assets 54,832 54,632 54,427 54,221 53,976 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 277,936 268,189 188,086 318,933 241,655 Chart
Insider loans 0 0 0 0 0 Chart
FHLB advances 389,563 352,920 238,973 314,026 243,078 Chart
Loans and leases held for sale 15,404 14,830 11,212 7,128 15,619 Chart
Unused loan commitments 640,600 729,900 763,600 839,900 732,800 Chart
Tier one (core) capital 594,073 584,986 578,223 573,168 563,925 Chart
Tier 2 Risk-based capital 50,761 61,690 61,385 58,540 59,591 Chart
Total unused commitments 640,600 729,900 763,600 839,900 732,800 Chart
Derivatives 30,122 31,325 34,629 20,130 22,489 Chart

Income and Expenses

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total interest income 100,489 66,012 32,626 136,769 101,679 Chart
Total interest expense 11,895 7,742 3,696 13,779 10,254 Chart
Net interest income 88,594 58,270 28,930 122,990 91,425 Chart
Provision for loan and lease losses 0 2,000 1,000 2,200 2,200 Chart
Total noninterest income 22,891 14,763 6,466 25,900 19,284 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 6,488 4,172 1,983 16,194 11,964 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 16,403 10,591 4,483 9,706 7,320 Chart
Total noninterest expense 84,598 56,625 28,509 111,701 83,041 Chart
Salaries and employee benefits 45,144 30,268 15,360 58,713 44,386 Chart
Premises and equipment expense 13,217 8,950 3,734 16,681 12,827 Chart
Additional noninterest expense 26,237 17,407 9,415 36,307 25,828 Chart
Pre-tax net operating income 26,887 14,408 5,887 34,989 25,468 Chart
Securities gains (losses) 3,684 2,224 850 12,804 9,542 Chart
Applicable income taxes 10,205 5,322 2,156 15,294 11,659 Chart
Income before extraordinary items 20,366 11,310 4,581 32,499 23,351 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 20,366 11,310 4,581 32,499 23,351 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 20,366 11,310 4,581 32,499 23,351 Chart
Net charge-offs 1,785 1,226 553 2,970 1,283 Chart
Cash dividends 0 0 0 0 0 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 17,898 9,798 4,003 23,792 16,958 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 718,251 739,270 739,814 730,318 709,037 Chart
U.S. Government securities 538,639 542,321 544,530 542,079 525,615 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 538,639 542,321 544,530 542,079 525,615 Chart
Securities issued by states & political subdivisions 0 0 0 0 0 Chart
Other domestic debt securities 1,000 1,000 1,000 1,000 1,000 Chart
Privately issued residential mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 0 0 0 0 0 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 1,000 1,000 1,000 1,000 1,000 Chart
Foreign debt securities 950 900 950 950 950 Chart
Equity securities 177,662 195,049 193,334 186,289 181,472 Chart
Assets held in trading accounts for TFR Reporters 0 0 0 0 0 Chart
General valuation allowances for securities for TFR Reporters 0 0 0 0 0 Chart
Memoranda
Pledged securities 14,091 15,173 15,563 16,456 17,499 Chart
Mortgage-backed securities 529,386 537,618 542,262 539,731 523,197 Chart
Certificates of participation in pools of residential mortgages 124,965 128,919 133,847 140,875 142,694 Chart
Issued or guaranteed by U.S. 124,965 128,919 133,847 140,875 142,694 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 404,421 408,699 408,415 398,856 380,503 Chart
CMOs issued by government agencies or sponsored agencies 404,421 408,699 408,415 398,856 380,503 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage pass-through securities 0 0 0 0 0 Chart
Other commercial mortgage-backed securities 0 0 0 0 0 Chart
Held to maturity securities (book value) 1,950 1,900 1,950 1,950 1,950 Chart
Available-for-sale securities (fair market value) 716,301 737,370 737,864 728,368 707,087 Chart
Total debt securities 540,589 544,221 546,480 544,029 527,565 Chart
Structured Notes
Amortized cost 0 0 0 0 0 Chart
Fair value 0 0 0 0 0 Chart
Trading account assets 0 0 0 0 0 Chart
Revaluation gains on off-balance sheet contracts 0 0 0 0 0 Chart
Revaluation losses on off-balance sheet contracts 0 0 0 0 0 Chart

Performance and Condition Ratios

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
% of unprofitable institutions N/A N/A N/A N/A N/A Chart
% of insitutions with earnings gains N/A N/A N/A N/A N/A Chart
Performance Ratios (%, annualized)
Yield on earning assets 3.62% 3.59% 3.59% 3.93% 3.93% Chart
Cost of funding earning assets 0.43% 0.42% 0.41% 0.40% 0.40% Chart
Net interest margin 3.19% 3.17% 3.19% 3.53% 3.53% Chart
Noninterest income to average assets 0.78% 0.76% 0.67% 0.70% 0.70% Chart
Noninterest expense to average assets 2.89% 2.92% 2.97% 3.03% 3.03% Chart
Loan and lease loss provision to assets 0.00% 0.10% 0.10% 0.06% 0.08% Chart
Net operating income to assets 0.61% 0.50% 0.42% 0.65% 0.62% Chart
Return on assets (ROA) 0.70% 0.58% 0.48% 0.88% 0.85% Chart
Pretax return on assets 1.04% 0.86% 0.70% 1.30% 1.28% Chart
Return on Equity (ROE) 4.52% 3.77% 3.07% 5.53% 5.31% Chart
Retained earnings to average equity (YTD only) 4.52% 3.77% 3.07% 5.53% 5.31% Chart
Net charge-offs to loans 0.08% 0.08% 0.08% 0.11% 0.06% Chart
Credit loss provision to net charge-offs 0.00% 163.13% 180.83% 74.07% 171.47% Chart
Earnings coverage of net charge-offs (x) 15.06% 13.38% 12.45% 12.52% 21.57% Chart
Efficiency ratio 75.66% 77.30% 80.30% 74.74% 74.72% Chart
Assets per employee ($millions) 6.35% 6.41% 6.25% 6.15% 5.89% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 0.00% 0.00% Chart
Condition Ratios (%)
Loss allowance to loans 1.21% 1.27% 1.30% 1.30% 1.39% Chart
Loan loss allowance to noncurrent loans 140.33% 149.73% 154.08% 142.23% 142.64% Chart
Noncurrent assets plus other real estate owned to assets 0.66% 0.65% 0.65% 0.70% 0.75% Chart
Noncurrent loans to loans 0.86% 0.85% 0.84% 0.91% 0.97% Chart
Net loans and leases to total assets 73.64% 74.85% 74.72% 74.43% 75.03% Chart
Net loans and leases to deposits 101.04% 101.16% 98.06% 100.42% 98.95% Chart
Net loans and leases to core deposits 103.38% 103.58% 100.57% 103.30% 101.60% Chart
Total domestic deposits to total assets 72.88% 73.99% 76.20% 74.12% 75.83% Chart
Equity capital to assets 15.23% 15.23% 15.59% 15.52% 16.04% Chart
Core capital (leverage) ratio 15.18% 15.24% 15.52% 15.59% 15.62% Chart
Tier 1 risk-based capital ratio 16.37% 15.56% 15.80% 17.42% 17.89% Chart
Total risk-based capital ratio 17.77% 17.20% 17.48% 19.20% 19.78% Chart
Memoranda
Average total assets 3,902,863 3,882,942 3,833,616 3,684,760 3,651,708 Chart
Average earning assets 3,698,880 3,680,462 3,631,351 3,484,158 3,453,034 Chart
Average equity 600,622 599,634 596,216 587,171 585,905 Chart
Average loans 2,941,260 2,937,138 2,896,488 2,777,186 2,751,896 Chart