Belmont Savings Bank
Belmont Savings Bank reported total assets of $3.0 bn at Q1 2019, its last Call Report before it merged into People's United Bank, National Association. Its common equity tier 1 ratio was 10.75%, and an estimated 24.64% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Return on equity (ROE): down 38.53 pp on Q4 2018, to -26.15%
- Uninsured share of domestic deposits: down 8.91 pp on Q4 2018, to 24.64%
- Total deposits: up 7.8% on Q4 2018, to $2.1 bn
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about Belmont Savings Bank?
Against its six size peers, its efficiency ratio stands out most: 198.23% at Q1 2019, above the peer median of 61.52%.
How large is Belmont Savings Bank?
At Q1 2019 the bank held $3.0 bn of assets. Deposits were $2.1 bn and net loans and leases $2.7 bn, a loan-to-deposit ratio of 126.45%. Securities of $146.3 mn made up 4.8% of assets.
Total assets rose 59.0% between Q1 2016 and Q1 2019, from $1.9 bn.
How much of its funding is uninsured?
An estimated 24.64% of domestic deposits were above the FDIC insurance limit at Q1 2019, -8.91 pp from the previous quarter and -24.23 pp from a year earlier.
Key facts, Q1 2019
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $3.0 bn | +10.9% | |
| Total deposits | $2.1 bn | +12.8% | |
| Net loans and leases | $2.7 bn | +13.0% | |
| Bank equity capital | $204.7 mn | +14.3% | |
| Common equity tier 1 (CET1) ratio | 10.75% | +0.46 pp | |
| Tier 1 leverage ratio | 6.96% | +0.31 pp | |
| Return on equity (ROE) | -26.15% | -39.85 pp | |
| Net interest margin | 2.06% | -0.26 pp | |
| Uninsured share of domestic deposits | 24.64% | -24.23 pp | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $1.4 mn | Narrowed by $1.8 mn | |
| Noncurrent loans to total loans | 0.04% | -0.01 pp | |
| Net charge-offs to average loans | 0.00% | +0.00 pp |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q1 2019.
- Total assets $3.0bn
- Deposits $2.1bn
- Net loans $2.7bn
Capital and securities
The common equity tier 1 (CET1) ratio was 10.75% at Q1 2019, +0.46 pp from a year earlier. Since Q1 2016 it has ranged from 10.06% (Q4 2017) to 10.81% (Q1 2016). At Q1 2019 the tier 1 leverage ratio was 6.96% and the total risk-based capital ratio 11.71%. The median CET1 ratio of the size peers listed below was 11.82% at Q1 2019.
Held-to-maturity securities had an unrealized loss of $1.4 mn at Q1 2019, measured as fair value minus amortized cost, equal to 0.7% of bank equity capital. The loss narrowed by $1.8 mn from a year earlier. The largest unrealized loss on these securities was $4.3 mn at Q3 2018. Available-for-sale securities showed an unrealized loss of $45,000 at Q1 2019; the loss narrowed by $88,000 from a year earlier.
Capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 7.0%
Unrealized gains and losses on securities
- Available for sale -$45,000
- Held to maturity -$1mn
Profitability and loan quality
Return on equity was -26.15% for the year to Q1 2019, annualized, with a return on assets of -1.73% and a net interest margin of 2.06%. The margin was -0.26 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 198.23%. Net income for the year to Q1 2019 was -$13.1 mn, down 317.3% on the same period a year earlier. The median return on equity of its size peers was 11.89% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.04% of total loans at Q1 2019. Net charge-offs for the year to date were 0.00% of average loans, annualized.
Profitability
- Return on equity -26%
- Net interest margin 2.1%
- Return on assets -1.7%
Compared with banks of similar size
The six banks ranked closest to Belmont Savings Bank by total assets at Q1 2019, three above and three below where possible.
Among the seven banks in the table at Q1 2019, Belmont Savings Bank is 4th by total assets. Its CET1 ratio of 10.75% compares with a peer median of 11.82%, its tier 1 leverage ratio of 6.96% compares with a peer median of 9.20%, and its return on equity of -26.15% compares with a peer median of 11.89%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| Principal Bank | $3.1 bn | 13.53% | 18.36% | 13.73% | |
| Old Line Bank | $3.1 bn | 11.40% | 9.16% | 17.74% | |
| Enterprise Bank and Trust Company | $3.1 bn | 10.62% | 13.08% | 31.49% | |
| Belmont Savings Bank | $3.0 bn | 10.75% | -26.15% | 24.64% | |
| The American National Bank of Texas | $3.0 bn | 12.24% | 13.53% | 39.35% | |
| Nicolet National Bank | $3.0 bn | 10.70% | 10.71% | 29.85% | |
| Capital City Bank | $3.0 bn | 15.64% | 8.18% | 35.64% | |
Q1 2019. Peer median (the six banks, excluding this one): CET1 11.82%, return on equity 11.89%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
Belmont Savings Bank, as reported in its Call Reports.
From Q2 2017 to Q1 2019, total assets rose 28.5% to $3.0 bn, deposits rose 31.2% to $2.1 bn and bank equity capital rose 23.9% to $204.7 mn. Over the same period its full-time equivalent staff went from 124 to 132 and its offices went from 7 to 7.
| Metric | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.4 bn | $2.5 bn | $2.7 bn | $2.7 bn | $2.9 bn | $3.0 bn | $3.0 bn | $3.0 bn |
| Total deposits | $1.6 bn | $1.7 bn | $1.8 bn | $1.9 bn | $1.8 bn | $2.0 bn | $2.0 bn | $2.1 bn |
| Bank equity capital | $165.1 mn | $170.6 mn | $173.1 mn | $179.1 mn | $185.7 mn | $192.4 mn | $196.3 mn | $204.7 mn |
| Common equity tier 1 (CET1) ratio | 10.28% | 10.29% | 10.06% | 10.29% | 10.20% | 10.44% | 10.50% | 10.75% |
| Return on equity (ROE) | 9.62% | 10.08% | 8.75% | 13.70% | 13.51% | 13.40% | 12.38% | -26.15% |
| Uninsured share of domestic deposits | 48.03% | 50.19% | 49.18% | 48.87% | 35.96% | 36.28% | 33.55% | 24.64% |
| Full-time equivalent employees | 124 | 119 | 125 | 131 | 138 | 136 | 134 | 132 |
| Number of offices | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Merged into People's United Bank, National Association (FDIC certificate 27334).
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 23901
- Federal Reserve RSSD ID
- 348207
- Head office
- Belmont, Massachusetts
- Holding company
- BSB BCORP INC (as reported to the FDIC)
- Holding company RSSD ID
- 3929791
- EconoMonitor ID
- EMB-US-000462
Frequently asked questions
What were Belmont Savings Bank's total assets?
$3.0 bn at Q1 2019, according to its Call Report as published by the FDIC.
Is Belmont Savings Bank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 23901). Its holding company, BSB BCORP INC (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after Belmont Savings Bank files its Call Report and the FDIC publishes it. This page shows Q1 2019, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 23901, and in the Call Reports filed under RSSD ID 348207 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.