Belmont Savings Bank (merged into People's United 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. The CET1 capital ratio at Belmont Savings Bank was 10.75%, and the uninsured share of Belmont Savings Bank was 24.64%. Source: FDIC Call Reports.
What sets Belmont Savings Bank apart
Nothing in the latest data sets Belmont Savings Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Belmont Savings Bank?
The balance sheet of Belmont Savings Bank at : assets $3.0 bn, deposits $2.1 bn, net loans $2.7 bn (loans equal to 126.45% of deposits). Securities make up 4.8% of total assets at Belmont Savings Bank. Since , when Belmont Savings Bank held $1.9 bn, its assets grew 59.0%. In the year to , deposits at Belmont Savings Bank rose 12.8% while its total assets rose 10.9%. At , Belmont Savings Bank employed 132 full-time equivalent staff across 7 offices, about $23.1 mn of assets per employee and $303.6 mn of deposits per office.
How much funding at Belmont Savings Bank is uninsured?
At Belmont Savings Bank, uninsured deposits (above the FDIC limit) made up 24.64% of domestic deposits at (-24.23 pp on a year earlier). In dollars, Belmont Savings Bank estimated $523.6 mn of uninsured deposits.
Key facts, Q1 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.1 bn | $1.9 bn (Q1 2018) | |
| Net loans and leases | $2.7 bn | $2.4 bn (Q1 2018) | |
| Loan-to-deposit ratio | 126.45% | 126.32% (Q1 2018) | |
| Tier 1 leverage ratio | 6.96% | 6.65% (Q1 2018) | |
| Total risk-based capital ratio | 11.71% | 11.24% (Q1 2018) | |
| Net interest margin | 2.06% | 2.31% (Q1 2018) | |
| Return on assets (ROA) | -1.73% | 0.89% (Q1 2018) | |
| Efficiency ratio | 198.23% | 47.62% (Q1 2018) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $1.4 mn | Narrowed by $1.8 mn | |
| Unrealized gain/loss on available-for-sale securities | Loss of $45,000 | Narrowed by $88,000 | |
| Noncurrent loans to total loans | 0.04% | 0.06% (Q1 2018) | |
| Net charge-offs to average loans | 0.00% | 0.00% (Q1 2018) |
US rank of Belmont Savings Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Belmont Savings Bank: assets, deposits and loans
- Total assets $3.0bn
- Deposits $2.1bn
- Net loans $2.7bn
Capital and securities
The CET1 ratio of Belmont Savings Bank stood at 10.75% in , +0.46 pp year on year. Low and high at Belmont Savings Bank since : 10.06% () to 10.81% (). Equity capital of Belmont Savings Bank at : $204.7 mn, or 6.7% of total assets. Belmont Savings Bank also reported a total capital ratio of 11.71% for , and a tier 1 leverage ratio of 6.96%.
On held-to-maturity securities, Belmont Savings Bank carried an unrealized loss of $1.4 mn at , equal to 0.7% of equity capital. The loss narrowed by $1.8 mn over the year. Its deepest point: $4.3 mn in . The available-for-sale portfolio of Belmont Savings Bank showed an unrealized loss of $45,000 at ; the loss narrowed by $88,000 over the year.
Belmont Savings Bank: capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 7.0%
Belmont Savings Bank: unrealized securities gains and losses
- Available for sale -$45,000
- Held to maturity -$1mn
Profitability and loan quality
For the year to , Belmont Savings Bank earned a return on equity of -26.15%; return on assets: -1.73%. Net interest margin at Belmont Savings Bank: 2.06%, -0.26 pp in a year. Belmont Savings Bank net income: -$13.1 mn, down 317.3% year on year. The efficiency ratio of Belmont Savings Bank was 198.23%: about 198 cents cost per revenue dollar, against 62 cents at the median peer.
At , noncurrent loans were 0.04% of total loans at Belmont Savings Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at Belmont Savings Bank: $2.7 bn at , against $2.4 bn at .
Belmont Savings Bank: profitability
- Return on equity -26%
- Net interest margin 2.1%
- Return on assets -1.7%
Peer group of Belmont Savings Bank
The peer group of Belmont Savings Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of Belmont Savings Bank (state-chartered stock savings bank) and 1 has its head office in Massachusetts. Against them, Belmont Savings Bank shows CET1 ratio 10.75% against a peer median of 11.82%, return on equity -26.15% against a peer median of 11.89% and uninsured deposit share 24.64% against a peer median of 30.67%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Principal Bank | Federal savings bank | IA | $3.1 bn | 13.53% | 18.36% | 13.73% | |
| Old Line Bank | State nonmember bank | MD | $3.1 bn | 11.40% | 9.16% | 17.74% | |
| Enterprise Bank and Trust Company | State nonmember bank | MA | $3.1 bn | 10.62% | 13.08% | 31.49% | |
| Belmont Savings Bank | State-chartered stock savings bank | MA | $3.0 bn | 10.75% | -26.15% | 24.64% | |
| The American National Bank of Texas | National bank | TX | $3.0 bn | 12.24% | 13.53% | 39.35% | |
| Nicolet National Bank | National bank | WI | $3.0 bn | 10.70% | 10.71% | 29.85% | |
| Capital City Bank | State member bank | FL | $3.0 bn | 15.64% | 8.18% | 35.64% | |
. FDIC Call Reports.
Last eight quarters
Two years at Belmont Savings Bank, to : assets $2.4 bn to $3.0 bn, deposits $1.6 bn to $2.1 bn, equity $165.1 mn to $204.7 mn. Staff 124 to 132.
| 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 |
| 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 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Belmont Savings Bank, oldest first; figures before and after each event are not like for like.
- . Merged into People's United Bank, National Association (FDIC certificate 27334).
Questions and identifiers
What were the total assets of Belmont Savings Bank?
Belmont Savings Bank reported $3.0 bn at in its Call Report.
Is Belmont Savings Bank the same as its holding company?
No. This page covers Belmont Savings Bank, FDIC certificate 23901; BSB BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Belmont Savings Bank profitable?
Belmont Savings Bank reported net income of -$13.1 mn for the year to ; annualized return on equity: -26.15%. So no: Belmont Savings Bank made a loss over these months.
When is data for Belmont Savings Bank next updated?
Belmont Savings Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Belmont Savings Bank?
In the FDIC BankFind Suite record for certificate 23901, and in the Call Reports of Belmont Savings Bank (RSSD ID 348207) at the FFIEC Central Data Repository.