The Suffolk County National Bank of Riverhead
The Suffolk County National Bank of Riverhead reported total assets of $2.1 bn at Q1 2017, its last Call Report before it merged into People's United Bank, National Association. Its common equity tier 1 ratio was 12.66%, and an estimated 27.83% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Return on equity (ROE): down 28.35 pp on Q4 2016, to -18.67%
- Bank equity capital: down 5.4% on Q4 2016, to $202.2 mn
- Common equity tier 1 (CET1) ratio: down 0.75 pp on Q4 2016, to 12.66%
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 The Suffolk County National Bank of Riverhead?
Against its six size peers, its efficiency ratio stands out most: 203.19% at Q1 2017, above the peer median of 67.65%.
How large is The Suffolk County National Bank of Riverhead?
At Q1 2017 the bank held $2.1 bn of assets. Deposits were $1.9 bn and net loans and leases $1.6 bn, a loan-to-deposit ratio of 88.22%. Securities of $162.6 mn made up 7.8% of assets.
Total assets fell 7.2% between Q1 2016 and Q1 2017, from $2.3 bn.
How much of its funding is uninsured?
An estimated 27.83% of domestic deposits were above the FDIC insurance limit at Q1 2017, +0.57 pp from the previous quarter and -0.58 pp from a year earlier.
Key facts, Q1 2017
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $2.1 bn | -7.2% | |
| Total deposits | $1.9 bn | -1.1% | |
| Net loans and leases | $1.6 bn | -5.3% | |
| Bank equity capital | $202.2 mn | +1.7% | |
| Common equity tier 1 (CET1) ratio | 12.66% | +1.45 pp | |
| Tier 1 leverage ratio | 9.77% | +0.47 pp | |
| Return on equity (ROE) | -18.67% | -28.57 pp | |
| Net interest margin | 3.55% | -0.08 pp | |
| Uninsured share of domestic deposits | 27.83% | -0.58 pp | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $481,000 | Fell by $2.0 mn | |
| Noncurrent loans to total loans | 0.33% | -0.07 pp | |
| Net charge-offs to average loans | -0.07% | -0.07 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 2017.
- Total assets $2.1bn
- Deposits $1.9bn
- Net loans $1.6bn
Capital and securities
The common equity tier 1 (CET1) ratio was 12.66% at Q1 2017, +1.45 pp from a year earlier. Since Q1 2016 it has ranged from 11.21% (Q1 2016) to 13.41% (Q4 2016). At Q1 2017 the tier 1 leverage ratio was 9.77% and the total risk-based capital ratio 13.91%. The median CET1 ratio of the size peers listed below was 12.66% at Q1 2017.
Held-to-maturity securities had an unrealized gain of $481,000 at Q1 2017, measured as fair value minus amortized cost, equal to 0.2% of bank equity capital. The gain fell by $2.0 mn from a year earlier. Available-for-sale securities showed an unrealized gain of $1.1 mn at Q1 2017; the gain fell by $4.0 mn from a year earlier.
Capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 9.8%
Unrealized gains and losses on securities
- Available for sale $1mn
- Held to maturity $481,000
Profitability and loan quality
Return on equity was -18.67% for the year to Q1 2017, annualized, with a return on assets of -1.85% and a net interest margin of 3.55%. The margin was -0.08 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 203.19%. Net income for the year to Q1 2017 was -$9.7 mn, down 300.0% on the same period a year earlier. The median return on equity of its size peers was 11.04% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.33% of total loans at Q1 2017. Net charge-offs for the year to date were -0.07% of average loans, annualized.
Profitability
- Return on equity -19%
- Net interest margin 3.5%
- Return on assets -1.9%
Compared with banks of similar size
The six banks ranked closest to The Suffolk County National Bank of Riverhead by total assets at Q1 2017, three above and three below where possible.
Among the seven banks in the table at Q1 2017, The Suffolk County National Bank of Riverhead is 4th by total assets. Its CET1 ratio of 12.66% compares with a peer median of 12.66%, its tier 1 leverage ratio of 9.77% compares with a peer median of 9.63%, and its return on equity of -18.67% compares with a peer median of 11.04%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| Central Bank & Trust Co. | $2.1 bn | 12.16% | 7.14% | 21.70% | |
| PeoplesBank | $2.1 bn | 13.15% | 5.77% | 34.20% | |
| Bessemer Trust Company | $2.1 bn | 24.82% | 25.19% | 72.13% | |
| The Suffolk County National Bank of Riverhead | $2.1 bn | 12.66% | -18.67% | 27.83% | |
| Independence Bank of Kentucky | $2.1 bn | 11.13% | 20.79% | 15.15% | |
| Westfield Bank | $2.1 bn | 14.36% | 8.12% | 22.04% | |
| Northbrook Bank and Trust Company | $2.1 bn | 10.04% | 13.96% | 57.77% | |
Q1 2017. Peer median (the six banks, excluding this one): CET1 12.66%, return on equity 11.04%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
The Suffolk County National Bank of Riverhead, as reported in its Call Reports.
From Q1 2016 to Q1 2017, total assets fell 7.2% to $2.1 bn, deposits fell 1.1% to $1.9 bn and bank equity capital rose 1.7% to $202.2 mn. Over the same period its full-time equivalent staff went from 339 to 261 and its offices went from 27 to 27.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 |
|---|---|---|---|---|---|
| Total assets | $2.3 bn | $2.2 bn | $2.2 bn | $2.1 bn | $2.1 bn |
| Total deposits | $1.9 bn | $2.0 bn | $1.9 bn | $1.8 bn | $1.9 bn |
| Bank equity capital | $198.8 mn | $207.8 mn | $212.6 mn | $213.6 mn | $202.2 mn |
| Common equity tier 1 (CET1) ratio | 11.21% | 11.90% | 12.61% | 13.41% | 12.66% |
| Return on equity (ROE) | 9.90% | 10.65% | 10.59% | 9.68% | -18.67% |
| Uninsured share of domestic deposits | 28.41% | 24.21% | 26.23% | 27.26% | 27.83% |
| Full-time equivalent employees | 339 | 328 | 311 | 296 | 261 |
| Number of offices | 27 | 27 | 27 | 27 | 27 |
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
- 7278
- Federal Reserve RSSD ID
- 799612
- Head office
- Riverhead, New York
- Holding company
- SUFFOLK BCORP (as reported to the FDIC)
- Holding company RSSD ID
- 1130865
- EconoMonitor ID
- EMB-US-000535
Frequently asked questions
What were The Suffolk County National Bank of Riverhead's total assets?
$2.1 bn at Q1 2017, according to its Call Report as published by the FDIC.
Is The Suffolk County National Bank of Riverhead the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 7278). Its holding company, SUFFOLK BCORP (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 The Suffolk County National Bank of Riverhead files its Call Report and the FDIC publishes it. This page shows Q1 2017, 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 7278, and in the Call Reports filed under RSSD ID 799612 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.