Massbank
Reading, MA — Domestic Branch of a Domestic Bank
Acquired Oct 2008
Vitals
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Total Assets821.2M 0.6 %
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Total Deposits643.8M -7.9 %
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Total Net Loans206.3M -33.9 %
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Net Income
-
Book Value167.3M 62.9 %
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Book Value x2334.5M 62.9 %
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Book Value x3501.8M 62.9 %
Balance Sheet Highlights
| Financial Highlights | Massbank | All Insured Savings Banks in Massachusetts |
| Balance Sheet $(000) | ||
| Total Assets | 821,226 | 431,635 |
| Total Net Loans | 206,260 | 292,861 |
| Total Deposits | 643,846 | 318,568 |
| Total Equity | 167,254 | 42,805 |
| Profitability | ||
| Net Income | — | 1,940 |
| Return on Average Assets | — | .415 |
| Return on Average Equity | — | 3.989 |
| Net Interest Margin | 1.112 | 2.981 |
| Efficiency Ratio | 226.611 | 81.266 |
| Noninterest Income/Revenue | 8.863 | |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 32.036 | 92.817 |
| Securities/Assets | .305 | |
| Total Equity/Total Assets | .204 | .099 |
| Tangible Equity/Tangible Assets | .112 | .046 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 91,996 | 41,947 |
| Tier 2 Capital | — | 2,916 |
| Total Capital | 91,996 | 44,825 |
| Total Risk Weighted Assets | 227,233 | 280,692 |
| Leverage Ratio | 12.22 | 9.732 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 40.49 | 15.352 |
| Total Capital Ratio | 40.49 | 16.332 |
Timeline for Massbank
Glendale Co-Operative Bank
Acquisition: Massbank acquired a new subsidiary, Glendale Co-Operative Bank, 26 years
View Profile Jul 21 1997
Readibank Investment Corporation
Readibank Investment Corporation became a new subsidiary organization for Massbank.
View Profile Dec 21 1994
Massbank Corp.
Massbank Corp. became a new parent organization for Massbank.
View Profile Mar 31 1992
Melbank Investment Corporation
Melbank Investment Corporation became a new subsidiary organization for Massbank.
View Profile Mar 31 1992
| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Eastern Bank | Buyer | 9,965,949 | Pooling of Interests | Discontinued | 10/11/2008 |
| Glendale Co-Operative Bank | Seller | 35,844 | Acquisition | Discontinued | 7/21/1997 |
| The Central Savings Bank | Seller | 369,110 | Failure | 2/15/1992 | |
| Reading Savings Bank | Seller | Discontinued | 2/1/1983 |
| Relationships | Role | Relationship Start | Relationship End |
| Massbank Corp. | Parent | 3/31/1992 | 10/10/2008 |
| Melbank Investment Corporation | Subsidary | 6/30/2007 | 10/10/2008 |
| Readibank Investment Corporation | Subsidary | 6/30/2007 | 10/10/2008 |
| Melbank Investment Corporation | Subsidary | 3/31/1992 | 6/29/2007 |
| Readibank Investment Corporation | Subsidary | 12/21/1994 | 6/29/2007 |
| Readibank Properties, Inc. | Subsidary | 3/31/1992 | 12/30/2003 |
| Amesbury/Whittier Realty Trust | Subsidary | 3/31/1992 | 8/31/2001 |
| Readibank Equipment Corporation | Subsidary | 3/31/1992 | 10/29/1997 |
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