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General InformationMission StatementNatick Federal Savings Bank specializes in meeting the emerging needs of its customers and community by providing a safe place to deposit savings dollars, and being a source for economical home financing. Our mission is to provide outstanding customer service and deliver quality-banking products at exceptional values in an efficient and friendly atmosphere.
Financial HighlightsSTATEMENT OF CONDITION
OF THE
NATICK FEDERAL SAVINGS BANK Incorporated 1886
As of December 31, 2008
ASSETS |
Mortgage Loans |
$108,582,760.39
| |
All Other Loans |
5,974,720.32
| |
Cash on Hand and in Banks |
1,836,493.38
| |
Real Estate Owned and in Judgment |
183,914.92
| |
Investments and Securities |
32,055,484.65
| |
Fixed Assets Less Depreciation |
2,611,923.69
| |
Deferred Charges and Other Assets |
6,866,350.42 | |
Total Assets |
$158,111,647.77
|
LIABILITIES AND NET WORTH |
Savings Accounts |
$131,334,591.54
| |
Advances from Federal Home Loan Bank |
11,033,741.64
| |
Other Liabilities |
2,219,400.30
| |
Specific Reserves |
.00
| |
Capital / Net Worth |
13,523,914.29
| |
Total Liabilities and Net Worth |
$158,111,647.77
|
The Federal Deposit Insurance Corporation (FDIC), an agency of the
United States Government, insures all depositors up to $100,000 in
accordance with the rules and regulations of the FDIC. In addition,
federal law provides for insurance coverage of up to $250,000 for "self directed" retirement accountsFOOTNOTE Regulatory Capital (Net Worth):
This statement has been prepared in accordance with the regulatory reporting requirements of the Office of Thrift Supervision (OTS). Tangible, Core, and Total Capital are the elements of regulatory capital determined under such reporting requirements. Regulatory capital is a basis by which the OTS determines whether a savings association is operating in a safe and sound manner. |
Capital Required
As of December 31, 2008
000’s omitted
Type
Capital | NFSB
Capital | Capital
Required | Excess
Capital | | Tangible: | 13,788, | 2,372, | 11,416,
| | Core: | 13,788, | 6,326, | 7,462, | | Risk-Based: | 13,976, | 6,666, | 7,310, |
History of BankNatick Federal Savings Bank was originally founded as a state chartered bank in October 1886 as the Henry Wilson Co-operative Bank. In February 1937 we became a Federal Chartered Savings & Loan Association known as Natick Federal Savings and Loan Association. Finally, in February 1986, our charter was amended to a Federal Mutual Charter and we became known as Natick Federal Savings Bank. While our name has changed, our commitment to the mutual form of banking and to the Natick community has remained constant – as we expect it to be in the future.
Supporting Our CommunityAs an independent hometown bank, Natick Federal is a proud participant in supporting the financial efforts of the local community. In additional, we are proud of our employees who volunteer their time and expertise to the community and its organizations.
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