Fairfield County Bank

Report generated from DepositInsuredBanks.com
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Overview

FDIC Cert 18213
Address
150 Danbury Road, Ridgefield, CT 6877
FDIC Unique Number 12133
Federal Reserve ID 882701
Federal Reserve ID for Bank Holding Company 0
OCC Charter Number 0
OTS Docket Number 6745
MSA Danbury, CT
County Fairfield
Website http://www.fairfieldcountybank.com
Established On 05/14/1871
Insured On 07/01/1960
Holding Company
Regulator Federal Deposit Insurance Corporation
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 18
Foreign Offices
Bank Charter Class SB - Savings banks, state charter, supervised by the FDIC

Recent Changes

Financial Snapshot

USD, Thousands
Total Assets 1,526,260
Total Deposits 1,245,840
Domestic Deposits 1,245,840
Bank Equity Capital 175,958
Year to Date Quarterly
Net Income USD, 000 6,873 2,343
Return on Assets 0.59% 0.6%
Return on Equity 5.31% 5.37%
Pre-Tax Return on Assets 0.9% 0.92%
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.

Fairfield County Bank has a texas ratio of 9.17 which puts it at low risk. As of 09/30/2015 the bank had $14,689 Non Current Loans and Leases, $2,898 Other Real Estate Owned, $175,958 Total Equity Capital and $15,867 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 $14,689 $2,898 $175,958 $15,867 9.17
06/30/2015 $14,758 $2,933 $173,058 $15,953 9.36
03/31/2015 $10,773 $2,796 $172,037 $15,931 7.22
12/31/2014 $13,183 $750 $168,723 $15,453 7.57
09/30/2014 $17,577 $750 $175,781 $16,080 9.55
06/30/2014 $16,308 $750 $172,939 $16,079 9.02
03/31/2014 $15,701 $750 $169,517 $16,398 8.85
12/31/2013 $16,863 $1,592 $165,639 $16,602 10.13
09/30/2013 $18,332 $889 $162,686 $17,928 10.64
06/30/2013 $18,244 $996 $160,001 $17,469 10.84
03/31/2013 $19,427 $1,160 $158,803 $17,767 11.66
12/31/2012 $21,706 $1,661 $155,295 $17,420 13.53
09/30/2012 $49,138 $9,152 $160,820 $18,967 32.42
06/30/2012 $51,352 $8,558 $158,536 $18,698 33.8
03/31/2012 $51,474 $5,628 $156,589 $18,684 32.58
12/31/2011 $51,129 $1,884 $153,927 $18,649 30.72
09/30/2011 $51,910 $4,311 $155,290 $18,599 32.33
06/30/2011 $42,750 $7,370 $153,534 $16,991 29.39
03/31/2011 $44,372 $8,907 $150,698 $16,352 31.89
12/31/2010 $41,966 $9,862 $147,894 $16,131 31.6
09/30/2010 $43,555 $16,041 $148,426 $14,393 36.6
06/30/2010 $51,086 $9,280 $147,355 $14,811 37.22
03/31/2010 $50,397 $13,682 $148,598 $13,413 39.55
12/31/2009 $58,874 $12,156 $146,119 $13,758 44.43
09/30/2009 $38,281 $12,953 $149,243 $12,767 31.62
06/30/2009 $43,795 $2,912 $147,845 $13,378 28.97
03/31/2009 $40,096 $9,766 $145,400 $12,227 31.63

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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) 294 293 288 290 290 Chart
Total Assets 1,526,260 1,588,771 1,553,607 1,524,647 1,538,315 Chart
Cash & Balances due from depository institutions 39,855 91,080 67,827 19,856 36,662 Chart
Interest-bearing balances 17,181 60,166 48,019 950 9,926 Chart
Securities 149,356 154,709 162,489 167,591 185,295 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 1,217,342 1,221,429 1,203,152 1,217,663 1,202,083 Chart
Loan loss allowance 15,867 15,953 15,931 15,453 16,080 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 28,535 28,645 27,735 28,149 28,689 Chart
Other real estate owned 2,898 2,933 2,796 750 750 Chart
Goodwill and other intangibles 10,647 10,708 10,768 10,829 10,889 Chart
All other assets 77,627 79,267 78,840 79,809 73,947 Chart
Total Liabilities and Capital 1,526,260 1,588,771 1,553,607 1,524,647 1,538,315 Chart
Total Liabilities 1,350,302 1,415,713 1,381,570 1,355,924 1,362,534 Chart
Total deposits 1,245,840 1,266,608 1,223,800 1,202,361 1,227,033 Chart
Interest-bearing deposits 930,892 947,706 932,578 910,110 937,873 Chart
Deposits held in domestic offices 1,245,840 1,266,608 1,223,800 1,202,361 1,227,033 Chart
% insured (estimated) 65% 66% 64% 66% 64% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 72,470 117,489 127,508 122,027 112,547 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 31,992 31,616 30,262 31,536 22,954 Chart
Total equity capital 175,958 173,058 172,037 168,723 175,781 Chart
Bank equity capital 175,958 173,058 172,037 168,723 175,781 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 0 0 0 0 0 Chart
Surplus 0 0 0 5,055 13,174 Chart
Undivided profits 175,958 173,058 172,037 163,668 162,607 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 14,689 14,758 10,773 13,183 17,577 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 1,352 1,688 1,661 1,438 1,249 Chart
Income earned, not collected on loans 4,351 4,433 4,372 4,380 4,179 Chart
Earning assets 1,383,879 1,436,304 1,413,660 1,386,204 1,397,304 Chart
Long-term assets (5+ years) 496,349 509,067 580,474 576,915 572,206 Chart
Average total assets 1,548,336 1,555,694 1,539,156 1,503,624 1,498,368 Chart
Average assets, quarterly 1,557,516 1,571,189 1,539,156 1,531,481 1,508,478 Chart
Total risk weighted assets adjusted 1,290,518 1,292,157 1,278,957 1,234,974 1,243,061 Chart
Adjusted average assets for leverage capital purposes 1,528,998 1,517,173 1,505,915 1,512,806 1,476,259 Chart
Life insurance assets 35,633 35,653 35,663 35,643 35,618 Chart
General account life insurance assets 1,589 1,577 1,566 1,555 1,544 Chart
Separate account life insurance assets 34,044 34,076 34,097 34,088 34,074 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 88,942 136,041 144,176 142,142 126,218 Chart
Insider loans 8,840 9,598 9,382 9,429 9,488 Chart
FHLB advances 72,470 117,489 127,508 122,027 112,547 Chart
Loans and leases held for sale 9,636 25,917 19,591 8,582 6,337 Chart
Unused loan commitments 313,075 307,760 291,139 306,438 311,975 Chart
Tier one (core) capital 168,710 166,343 164,369 158,447 165,837 Chart
Tier 2 Risk-based capital 16,018 16,052 16,002 15,461 16,033 Chart
Total unused commitments 313,075 307,760 291,139 306,438 311,975 Chart
Derivatives 46,597 65,483 64,555 32,155 15,648 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 43,743 29,112 14,728 57,819 43,024 Chart
Total interest expense 2,727 1,840 935 4,153 3,162 Chart
Net interest income 41,016 27,272 13,793 53,666 39,862 Chart
Provision for loan and lease losses 320 320 320 1,650 700 Chart
Total noninterest income 14,767 9,597 5,092 17,172 12,805 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 1,699 1,139 571 2,636 2,039 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 13,068 8,458 4,521 14,536 10,766 Chart
Total noninterest expense 45,231 29,888 14,716 55,838 41,149 Chart
Salaries and employee benefits 26,382 17,547 8,882 32,905 24,355 Chart
Premises and equipment expense 6,595 4,389 2,148 8,365 6,270 Chart
Additional noninterest expense 12,254 7,952 3,686 14,568 10,524 Chart
Pre-tax net operating income 10,232 6,661 3,849 13,350 10,818 Chart
Securities gains (losses) 184 183 27 76 204 Chart
Applicable income taxes 3,543 2,314 1,296 4,392 3,724 Chart
Income before extraordinary items 6,873 4,530 2,580 9,034 7,298 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 6,873 4,530 2,580 9,034 7,298 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 6,873 4,530 2,580 9,034 7,298 Chart
Net charge-offs -94 -180 -158 2,799 1,222 Chart
Cash dividends 0 0 0 373 280 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 6,752 4,409 2,562 8,983 7,163 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 149,356 154,709 162,489 167,591 185,295 Chart
U.S. Government securities 123,298 128,747 135,846 140,703 145,725 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 123,298 128,747 135,846 140,703 145,725 Chart
Securities issued by states & political subdivisions 11,241 11,158 11,567 10,887 10,973 Chart
Other domestic debt securities 13,718 13,719 13,975 13,884 15,654 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 1,742 Chart
Other domestic debt securities - All other 13,718 13,719 13,975 13,884 13,912 Chart
Foreign debt securities 0 0 0 0 0 Chart
Equity securities 1,099 1,085 1,101 2,117 12,943 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 46,761 48,726 51,483 53,446 55,574 Chart
Mortgage-backed securities 111,452 116,896 123,941 128,851 133,884 Chart
Certificates of participation in pools of residential mortgages 110,552 115,812 122,706 127,486 132,301 Chart
Issued or guaranteed by U.S. 110,552 115,812 122,706 127,486 132,301 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 900 1,084 1,235 1,365 1,583 Chart
CMOs issued by government agencies or sponsored agencies 900 1,084 1,235 1,365 1,583 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) 7,202 7,246 7,504 7,533 7,736 Chart
Available-for-sale securities (fair market value) 142,154 147,463 154,985 160,058 177,559 Chart
Total debt securities 148,259 153,624 161,388 165,473 172,217 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 4.15% 4.12% 4.21% 4.25% 4.23% Chart
Cost of funding earning assets 0.26% 0.26% 0.27% 0.30% 0.31% Chart
Net interest margin 3.89% 3.86% 3.94% 3.94% 3.92% Chart
Noninterest income to average assets 1.27% 1.23% 1.32% 1.14% 1.14% Chart
Noninterest expense to average assets 3.89% 3.84% 3.82% 3.71% 3.66% Chart
Loan and lease loss provision to assets 0.03% 0.04% 0.08% 0.11% 0.06% Chart
Net operating income to assets 0.58% 0.57% 0.67% 0.60% 0.64% Chart
Return on assets (ROA) 0.59% 0.58% 0.67% 0.60% 0.65% Chart
Pretax return on assets 0.90% 0.88% 1.01% 0.89% 0.98% Chart
Return on Equity (ROE) 5.31% 5.29% 6.05% 5.30% 5.69% Chart
Retained earnings to average equity (YTD only) 5.31% 5.29% 6.05% 5.08% 5.47% Chart
Net charge-offs to loans -0.01% -0.03% -0.05% 0.24% 0.14% Chart
Credit loss provision to net charge-offs -340.43% -177.78% -202.53% 58.95% 57.28% Chart
Earnings coverage of net charge-offs (x) 0.00% 0.00% 0.00% 5.36% 9.43% Chart
Efficiency ratio 80.76% 80.74% 77.60% 78.48% 77.79% Chart
Assets per employee ($millions) 5.19% 5.42% 5.39% 5.26% 5.30% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 4.13% 3.84% Chart
Condition Ratios (%)
Loss allowance to loans 1.29% 1.29% 1.31% 1.25% 1.32% Chart
Loan loss allowance to noncurrent loans 108.02% 108.10% 147.88% 117.22% 91.48% Chart
Noncurrent assets plus other real estate owned to assets 1.15% 1.11% 0.87% 0.91% 1.20% Chart
Noncurrent loans to loans 1.19% 1.19% 0.88% 1.07% 1.44% Chart
Net loans and leases to total assets 79.76% 76.88% 77.44% 79.87% 78.14% Chart
Net loans and leases to deposits 97.71% 96.43% 98.31% 101.27% 97.97% Chart
Net loans and leases to core deposits 101.48% 100.35% 102.26% 106.67% 103.61% Chart
Total domestic deposits to total assets 81.63% 79.72% 78.77% 78.86% 79.76% Chart
Equity capital to assets 11.53% 10.89% 11.07% 11.07% 11.43% Chart
Core capital (leverage) ratio 11.03% 10.96% 10.91% 10.47% 11.23% Chart
Tier 1 risk-based capital ratio 13.07% 12.87% 12.85% 12.83% 13.34% Chart
Total risk-based capital ratio 14.31% 14.12% 14.10% 14.08% 14.63% Chart
Memoranda
Average total assets 1,548,336 1,555,694 1,539,156 1,503,624 1,498,368 Chart
Average earning assets 1,405,012 1,412,056 1,399,932 1,361,921 1,355,850 Chart
Average equity 172,478 171,318 170,448 170,520 170,969 Chart
Average loans 1,230,698 1,229,860 1,226,100 1,190,422 1,179,749 Chart