Savings Institute Bank and Trust Company (merged into Berkshire Bank)
Savings Institute Bank and Trust Company reported total assets of $1.7 bn at Q1 2019, its last Call Report before it merged into Berkshire Bank. The CET1 capital ratio at Savings Institute Bank and Trust Company was 12.89%, and the uninsured share of Savings Institute Bank and Trust Company was 16.56%. Source: FDIC Call Reports.
What sets Savings Institute Bank and Trust Company apart
Nothing in the latest data sets Savings Institute Bank and Trust Company 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 Savings Institute Bank and Trust Company?
The balance sheet of Savings Institute Bank and Trust Company at : assets $1.7 bn, deposits $1.3 bn, net loans $1.3 bn (loans equal to 99.75% of deposits). Securities make up 7.9% of total assets at Savings Institute Bank and Trust Company. Since , when Savings Institute Bank and Trust Company held $1.5 bn, its assets grew 12.0%. In the year to , deposits at Savings Institute Bank and Trust Company rose 7.6% while its total assets rose 6.0%. At , Savings Institute Bank and Trust Company employed 286 full-time equivalent staff across 23 offices, about $5.9 mn of assets per employee and $57.4 mn of deposits per office.
How much funding at Savings Institute Bank and Trust Company is uninsured?
At Savings Institute Bank and Trust Company, uninsured deposits (above the FDIC limit) made up 16.56% of domestic deposits at (+0.21 pp on a year earlier). In dollars, Savings Institute Bank and Trust Company estimated $218.8 mn of uninsured deposits.
Key facts, Q1 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $1.3 bn | $1.2 bn (Q1 2018) | |
| Net loans and leases | $1.3 bn | $1.3 bn (Q1 2018) | |
| Loan-to-deposit ratio | 99.75% | 102.97% (Q1 2018) | |
| Tier 1 leverage ratio | 9.68% | 9.52% (Q1 2018) | |
| Total risk-based capital ratio | 14.14% | 14.72% (Q1 2018) | |
| Net interest margin | 3.00% | 3.00% (Q1 2018) | |
| Return on assets (ROA) | 0.79% | 0.54% (Q1 2018) | |
| Efficiency ratio | 65.59% | 72.95% (Q1 2018) | |
| Unrealized gain/loss on available-for-sale securities | Loss of $1.3 mn | Narrowed by $1.7 mn | |
| Noncurrent loans to total loans | 0.61% | 0.62% (Q1 2018) | |
| Net charge-offs to average loans | 0.00% | 0.02% (Q1 2018) |
US rank of Savings Institute Bank and Trust Company: 1 = highest unless marked 1 = lowest.
Balance sheet
Savings Institute Bank and Trust Company: assets, deposits and loans
- Total assets $1.7bn
- Deposits $1.3bn
- Net loans $1.3bn
Capital and securities
The CET1 ratio of Savings Institute Bank and Trust Company stood at 12.89% in , -0.59 pp year on year. Low and high at Savings Institute Bank and Trust Company since : 12.88% () to 14.53% (). Equity capital of Savings Institute Bank and Trust Company at : $172.3 mn, or 10.2% of total assets. Savings Institute Bank and Trust Company also reported a total capital ratio of 14.14% for , and a tier 1 leverage ratio of 9.68%.
The available-for-sale portfolio of Savings Institute Bank and Trust Company showed an unrealized loss of $1.3 mn at ; the loss narrowed by $1.7 mn over the year.
Savings Institute Bank and Trust Company: capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 9.7%
Savings Institute Bank and Trust Company: unrealized securities gains and losses
- Available for sale -$1mn
- Held to maturity $0
Profitability and loan quality
For the year to , Savings Institute Bank and Trust Company earned a return on equity of 7.68%; return on assets: 0.79%. Net interest margin at Savings Institute Bank and Trust Company: 3.00%, +0.01 pp in a year. Savings Institute Bank and Trust Company net income: $3.3 mn, up 52.7% year on year. The efficiency ratio of Savings Institute Bank and Trust Company was 65.59%: about 66 cents cost per revenue dollar, against 60 cents at the median peer.
At , noncurrent loans were 0.61% of total loans at Savings Institute Bank and Trust Company; net charge-offs: 0.00% of average loans. Gross loans and leases at Savings Institute Bank and Trust Company: $1.3 bn at , against $1.3 bn at .
Savings Institute Bank and Trust Company: profitability
- Return on equity 7.7%
- Net interest margin 3.0%
- Return on assets 0.8%
Peer group of Savings Institute Bank and Trust Company
The peer group of Savings Institute Bank and Trust Company is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of Savings Institute Bank and Trust Company (state member bank) and 0 have head offices in Connecticut. Against them, Savings Institute Bank and Trust Company shows CET1 ratio 12.89% against a peer median of 11.91%, return on equity 7.68% against a peer median of 11.40% and uninsured deposit share 16.56% against a peer median of 36.41%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| VIST Bank | State nonmember bank | PA | $1.7 bn | 11.15% | 7.90% | 41.94% | |
| American Momentum Bank | State nonmember bank | TX | $1.7 bn | 13.50% | 10.10% | 52.22% | |
| BankNewport | State member bank | RI | $1.7 bn | 12.83% | 10.13% | 22.63% | |
| Savings Institute Bank and Trust Company | State member bank | CT | $1.7 bn | 12.89% | 7.68% | 16.56% | |
| Bank Independent | State member bank | AL | $1.7 bn | 10.89% | 14.03% | 30.89% | |
| Quad City Bank and Trust Company | State member bank | IA | $1.7 bn | 10.66% | 12.67% | 47.62% | |
| American First National Bank | National bank | TX | $1.7 bn | 12.68% | 16.47% | 19.63% | |
. FDIC Call Reports.
Last eight quarters
Two years at Savings Institute Bank and Trust Company, to : assets $1.6 bn to $1.7 bn, deposits $1.2 bn to $1.3 bn, equity $160.7 mn to $172.3 mn. Staff 272 to 286; offices 24 to 23.
| Metric | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $1.6 bn | $1.6 bn | $1.6 bn | $1.6 bn | $1.6 bn | $1.6 bn | $1.6 bn | $1.7 bn |
| Total deposits | $1.2 bn | $1.2 bn | $1.2 bn | $1.2 bn | $1.2 bn | $1.3 bn | $1.3 bn | $1.3 bn |
| Bank equity capital | $160.7 mn | $163.3 mn | $160.5 mn | $161.8 mn | $161.5 mn | $164.0 mn | $167.9 mn | $172.3 mn |
| CET1 ratio | 14.27% | 14.42% | 13.81% | 13.48% | 13.18% | 13.02% | 12.88% | 12.89% |
| Return on equity (ROE) | 5.91% | 5.89% | 3.51% | 5.31% | 6.29% | 6.48% | 6.38% | 7.68% |
| Uninsured share of domestic deposits | 15.37% | 16.90% | 16.50% | 16.35% | 15.39% | 16.24% | 17.05% | 16.56% |
| Full-time equivalent employees | 272 | 269 | 270 | 280 | 277 | 293 | 287 | 286 |
| Number of offices | 24 | 24 | 24 | 24 | 23 | 23 | 23 | 23 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Savings Institute Bank and Trust Company, oldest first; figures before and after each event are not like for like.
- . Merged into Berkshire Bank (FDIC certificate 23621).
Questions and identifiers
What were the total assets of Savings Institute Bank and Trust Company?
Savings Institute Bank and Trust Company reported $1.7 bn at in its Call Report.
Is Savings Institute Bank and Trust Company the same as its holding company?
No. This page covers Savings Institute Bank and Trust Company, FDIC certificate 18214; SI FINANCIAL GROUP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Savings Institute Bank and Trust Company profitable?
Savings Institute Bank and Trust Company reported net income of $3.3 mn for the year to ; annualized return on equity: 7.68%. So yes: Savings Institute Bank and Trust Company made a profit over these months.
When is data for Savings Institute Bank and Trust Company next updated?
Savings Institute Bank and Trust Company no longer files Call Reports; its data ends at .
Where can I check the figures for Savings Institute Bank and Trust Company?
In the FDIC BankFind Suite record for certificate 18214, and in the Call Reports of Savings Institute Bank and Trust Company (RSSD ID 480808) at the FFIEC Central Data Repository.