# FARMINGTON BANK
FARMINGTON, CT · FDIC certificate 18208 · asset band $1-10B · latest filing 2018-09 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 4 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $3.24B | |
| Deposits | $2.43B | |
| Loans and leases | $2.97B | |
| Total equity | $263.2M | |
| Loans / deposits | 121.17% (p97 of band) | 90.76% |
| Liquid assets / assets | 4.64% (p1 of band) | |
| Uninsured deposits / deposits | 38.63% (p77 of band) | 26.76% |
| Brokered deposits | 0.46% | |
| Wholesale funding | 15.77% (p76 of band) | |
| FHLB advances / assets | 14.52% | |
| Tier 1 leverage | 8.18% (p6 of band) | 10.18% |
| Unrealized securities loss / equity | -2.85% (p58 of band) | -3.35% |
| AOCI / equity | 0.13% (p97 of band) | |
| ROA (annualized) | 0.80% (p15 of band) | 1.18% |
| Net interest margin | 2.91% (p13 of band) | 3.63% |
| Efficiency ratio | 64.80% (p61 of band) | |
| Noncurrent loans | 0.43% (p44 of band) | 0.48% |
| Net charge-offs (annualized) | 0.02% (p49 of band) | |
| Reserve coverage of noncurrent | 181.38% | |
| Real estate % of loans | 85% | |
| Construction % of loans | 32.97% (p38 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | 0.8% | |
| Employees | 340 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)
- **liquid assets <10%** (`liq_thin`)
- **capital falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 3 | leverage <7%, expense ratio p90, reserve under noncurrent |  |
| 2011-06 | 2 |  | leverage <7% |
| 2011-09 | 2 |  |  |
| 2011-12 | 2 | loans exceed deposits | reserve under noncurrent |
| 2012-03 | 2 |  |  |
| 2012-06 | 3 | deposits shrinking |  |
| 2012-09 | 4 | liquid assets <10%, capital falling | deposits shrinking |
| 2012-12 | 3 |  | liquid assets <10% |
| 2013-03 | 3 | liquid assets <10% | capital falling |
| 2013-06 | 5 | uninsured deposits >50%, run vulnerability |  |
| 2013-09 | 6 | capital falling |  |
| 2013-12 | 7 | wholesale funding >15% |  |
| 2014-03 | 4 |  | expense ratio p90, liquid assets <10%, wholesale funding >15% |
| 2014-06 | 6 | wholesale funding >15%, liquid assets <10% |  |
| 2014-09 | 4 | uninsured deposits leaving | uninsured deposits >50%, run vulnerability, liquid assets <10% |
| 2014-12 | 5 | liquid assets <10% |  |
| 2015-03 | 4 |  | wholesale funding >15% |
| 2015-06 | 5 | wholesale funding >15% |  |
| 2015-09 | 4 |  | uninsured deposits leaving |
| 2015-12 | 3 |  | capital falling |
| 2016-03 | 2 |  | wholesale funding >15% |
| 2016-06 | 3 | wholesale funding >15% |  |
| 2016-09 | 2 |  | wholesale funding >15% |
| 2016-12 | 3 | capital falling |  |
| 2017-03 | 2 |  | capital falling |
| 2017-06 | 3 | wholesale funding >15% |  |
| 2017-09 | 3 | capital falling | wholesale funding >15% |
| 2017-12 | 2 |  | capital falling |
| 2018-03 | 2 |  |  |
| 2018-06 | 3 | wholesale funding >15% |  |
| 2018-09 | 4 | capital falling |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2018-10-04 [People’s United completes acquisition of Farmington Bank - ctpost.com](https://news.google.com/rss/articles/CBMimAFBVV95cUxQdFQ4aGs4cW9MdEtOQmZlQWdaSXQtMk5sZzNuODc4Vkg0cy02eVo1NjFWeXJldTZiVDQwR0F4SjV6YjdEaGdPN1l2LVExb0RjWmVYallkc3c4a1BsbmNYb2NidWU2VFhYMnJKM29pMlZlc3JmaDQ1R3lLREdRcFV3RWc3TndHQkp4NGlBWUJfUld1R3h4OHVJRg?oc=5) · ctpost.com
- 2018-06-19 [CT’s People’s United to acquire Farmington Bank - Hartford Business Journal](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPQzM0UVJpS182X0R3a0U3VWpXeXR4cVpCZUNpa3hTT051VUdva0EwMnEzWlgwNVhfNDdXUFBtNU1Dc2szeEZ4dEJWVTI4QmVrdmhGNG8yWmx2LTh5M3VZb05nUHJQTXIyMFdjUkRnZFJtb1BmTWRuX0R3Q21qN0FCX0JkZkwxMnZSSHJB?oc=5) · Hartford Business Journal
- 2018-09-11 [Top Farmington Bank Executives See Millions In Severance In Sale Of the Bank - courant.com](https://news.google.com/rss/articles/CBMisgFBVV95cUxPSWdnRHFSbEtlS283aWJxa1BCUzlJdTNsaC1PVXhpa21jRDFKdUlDbGpaYlRtU3dJTVdqSWdhNEw3cXl2X05vWnFHeEYyY0xpVHJOLUZ1Tndyc2NzLVZGT2c3MGRueHBibF92UEtXcVdWRkZpSkRjLVV5dTQ0QzJ4cWxWUTg1QVI0V3BudEdYRWNYV2JXeFdXajJ3LTl5WnRqT080T09jRVRnNlpxR0JFWE9B?oc=5) · courant.com
- 2018-06-19 [People’s United acquires Farmington Bank in $544M deal - fox61.com](https://news.google.com/rss/articles/CBMi8gFBVV95cUxQbHlxLVJ3dnhPbGljMjRKd0luc0lMY0RweWVXZjJzZTBFTUJnV2gzMklwOU1uUzBaQnJzQjJjdHBZYWpWT1FVZGJwcWRRNnN5Nm5mWXptSFhfWnFKTzRESWRWNE9BOV9ySjdRdFprUE5TYWwtR1Q0V1FjZXJrNW5WamlXbEhfRDRYOElaRTE5ZzNVOHhKRm5mRzM0N2JOcWZkLV9jbmJ1enU2b2FaRnYtSnJCaElIX09PRnBOWnc5UHdwSzE5YnVjMnlXSkdHNjVra2F1RlZUajV6Znh5azltTUZadVpkX1FQZS1VdW9faktqQQ?oc=5) · fox61.com
- 2015-08-25 [John Green Named Elected Director of First Connecticut Bancorp - West Hartford News](https://news.google.com/rss/articles/CBMiiAFBVV95cUxNZXQwUFQ5V25sQVVDNTA4bFBlcFlwa2lfWE52bWtHa1lHam1jOU0tNFNMRkNlVDNqaUlTbnhFb2pBbEtTV3BTUjZXNEE0bEhzR2JtY3ZIb1A4bTZCMEFkNjZWV1lWV1l5WFMwQjc2TXUxcGRwclFtNkktMGphWG5IQnhMcG9oc1Z1?oc=5) · West Hartford News
- 2024-06-27 [Vacant West Hartford banks and pharmacies find new lives as fitness studios, dispensaries and more - ctinsider.com](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQdVpyYmtSZkxqcnlTbE9nSTRLUm8wb2JvSWtwMm81UXIzVGRLVEJtNlhyNzVaUElYbEFBVWtHM3VNcHR5bFFBLXA4Qy1SNE95N0l0eWRkMTRFNEFQdjJLRlFCOHFfZnFJYkdQc2tuUDhEU2R1aVV5TnBYSC12MVMySmV5VnNFc1lZRFlyQWRjRDRCa19LVi1udTItcERaQVlpMHN6ZVRVTWo?oc=5) · ctinsider.com
- 2017-05-04 [Thomas Pizzo Named Farmington Bank VP, Commercial Loan Officer - Patch](https://news.google.com/rss/articles/CBMipgFBVV95cUxNSFFjUDU1alZmWEVndjdjOExPR0FTVS1sU2VBRHVjdE9ELU1Ca25qaVNBM2J5MmhpWVJCbk4yS2dHQlNPN1BWYjRIMXhTMm9GQ3BSQ3B2OGdDeDBrNmJMNVpySjliMXE0T0k1OXd6TE5oYmQxWVZXZlFabmhUdzQyWDdHb0dLb1hvZ19Jd05Za1NxU3lsWXd5a2NZZGJrOXVHSm1wZHVB?oc=5) · Patch
- 2011-11-04 [Gregory A. White Executive vice president, CFO and treasurer Farmington Bank - Hartford Business Journal](https://news.google.com/rss/articles/CBMisgFBVV95cUxPV082SGJiZEdTYzFfd2ZjeFFNT0gwQTZjWldrYzhETWF0bzNfVWFta3FWUHVqQ1hMdFBKbWdCUVo3RFVzc0R6clRfNVVLbjJYU1gtRTFHN3pWWDhKNnhnQzdnaE9WblhCLWdHZTIySlphaWtLb2pfYlMzaE8zNGNkWDlHWHdpTFNaQ0FuM2pHRnVLOU4wYkRWSGo1Z01aRHhBTTJCeVlpWWRUQ1FQTXFtdnBB?oc=5) · Hartford Business Journal

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=18208 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/32.json (key "18208", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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