# BELMONT SAVINGS BANK
BELMONT, MA · FDIC certificate 23901 · asset band $1-10B · latest filing 2019-03 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 8 (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 | $3.05B | |
| Deposits | $2.13B | |
| Loans and leases | $2.71B | |
| Total equity | $204.7M | |
| Loans / deposits | 126.45% (p98 of band) | 89.50% |
| Liquid assets / assets | 8.37% (p3 of band) | |
| Uninsured deposits / deposits | 24.64% (p43 of band) | 26.63% |
| Brokered deposits | 8.32% | |
| Wholesale funding | 31.13% (p96 of band) | |
| FHLB advances / assets | 22.71% | |
| Tier 1 leverage | 6.96% (p2 of band) | 10.25% |
| Unrealized securities loss / equity | -0.73% (p46 of band) | -0.59% |
| AOCI / equity | -0.45% (p1 of band) | |
| ROA (annualized) | -1.73% (p0 of band) | 1.16% |
| Net interest margin | 2.06% (p3 of band) | 3.61% |
| Efficiency ratio | 198.23% (p100 of band) | |
| Noncurrent loans | 0.04% (p6 of band) | 0.48% |
| Net charge-offs (annualized) | 0.00% (p31 of band) | |
| Reserve coverage of noncurrent | 1610.25% | |
| Real estate % of loans | 99% | |
| Construction % of loans | 28.29% (p33 of band) | |
| Auto loans | $9.1M (0.34% of loans; DQ 0.71%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | 12.8% | |
| Employees | 132 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)
- **liquid assets <10%** (`liq_thin`)
- **leverage <7%** (`cap_low`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **NIM <2.5%** (`earn_nim`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 3 | loans exceed deposits, wholesale funding >15%, expense ratio p90 |  |
| 2011-06 | 3 |  |  |
| 2011-09 | 3 | capital falling, reserve under noncurrent | loans exceed deposits, expense ratio p90 |
| 2011-12 | 2 | loans exceed deposits | capital falling, reserve under noncurrent |
| 2012-03 | 2 |  |  |
| 2012-06 | 2 | capital falling | wholesale funding >15% |
| 2012-09 | 4 | wholesale funding >15%, uninsured deposits leaving |  |
| 2012-12 | 2 |  | wholesale funding >15%, uninsured deposits leaving |
| 2013-03 | 1 |  | capital falling |
| 2013-06 | 1 |  |  |
| 2013-09 | 3 | wholesale funding >15%, expense ratio p90 |  |
| 2013-12 | 3 | capital falling | expense ratio p90 |
| 2014-03 | 3 |  |  |
| 2014-06 | 3 |  |  |
| 2014-09 | 2 |  | capital falling |
| 2014-12 | 2 |  |  |
| 2015-03 | 3 | capital falling |  |
| 2015-06 | 2 |  | capital falling |
| 2015-09 | 2 |  |  |
| 2015-12 | 3 | capital falling |  |
| 2016-03 | 3 |  |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 5 | liquid assets <10%, NIM <2.5% |  |
| 2016-12 | 5 |  |  |
| 2017-03 | 7 | uninsured deposits >50%, run vulnerability |  |
| 2017-06 | 5 |  | uninsured deposits >50%, run vulnerability |
| 2017-09 | 7 | uninsured deposits >50%, run vulnerability |  |
| 2017-12 | 5 | leverage <7% | liquid assets <10%, uninsured deposits >50%, run vulnerability |
| 2018-03 | 6 | brokered >10% |  |
| 2018-06 | 7 | liquid assets <10% |  |
| 2018-09 | 6 |  | brokered >10% |
| 2018-12 | 6 | uninsured deposits leaving | capital falling |
| 2019-03 | 8 | losing money, expense ratio p90 |  |

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

- 2018-11-27 [BREAKING: Belmont Savings Bank Acquired By People’s United For $327M - The Belmontonian](https://news.google.com/rss/articles/CBMinAFBVV95cUxOV2JSOTlkcWtTXzRLRXh2Q1dqN1dFejNROWktaG1fMXFWN2pjSkxXcFQ2NlJmNHpYeV9GTnlpcWN4MDYzaUxJR1ZQSUc3c20xR3FoZVBnSC1CRDVpdDduX3NEeTJTZ1YwbEJSSkJqU3cydTd5aUxlcmdRM1Rma0dWbmh5bE1hLUl1RG1qM0tvbVh1bTFfX2pWWEhUOFU?oc=5) · The Belmontonian
- 2019-03-20 [Belmont Savings Bank will officially become People's United April 1 - Wicked Local](https://news.google.com/rss/articles/CBMirwFBVV95cUxOZndnSjQ3VUVQVXZIWGNwWW9BUmp2UmJiX1doaUV4NVhtTW9HaXBmbzB2aktrMmFWLXhhRTZXaFhvYkVQbnowblFtcmFpb1A1R3Ytang1ZmpyOTJTTEJ2MHpUUkJGM3ZSby1hbnpRUTNEQkJ4NVZWQ3I5YXFyaU5GdktMQXdVNWs5WXl1NzZSQ043NGlERGtRRjRKNU1wdkpHSG0yRmVsUEF2eXAybk5B?oc=5) · Wicked Local
- 2018-12-02 [Why People’s United Paid Only $327M for Belmont Savings Bank - Banker & Tradesman](https://news.google.com/rss/articles/CBMilAFBVV95cUxNX21zSGdDNjdhOG9KZkF5Q2trTmxLcl91VkNTcERMN3U0VFV0QWRjSFNGV01CNlZ4Y0owYkxMVXpaNlQ1eU9oTXZBN05iQm52ay1WUzQ1alZJenNubUlOS3c0djNEQ0FHRDVFTll0THdwX2VycTBpQXRVV0Jpa3RMVWxlSzMyRjdGZUhsQmw3cXNVS0hz?oc=5) · Banker &amp; Tradesman
- 2012-07-24 [Belmont Savings Creates Community with Customer Acquisition Campaign - Chief Marketer](https://news.google.com/rss/articles/CBMioAFBVV95cUxPUVNLZ3FSOVZuQTNtVXVlRFJjN1N2dU1SVW9ZaVlLQUh0M1htSHFRc2ZYdTI5ZjdaUkdzbkZuUHR4cVU0MV9nZ3Z4TjZVaXNUQS1aRDdRd2t6S0E0YThjX1lOVzhoM3RhN1FPSTBSbG12Q2NXaXpqNzItM0RjM3ZCVXl5aWk4Sl90RjJvTlJ4RXRpeUxkNXZJZ0lVVEJvMWlm?oc=5) · Chief Marketer
- 2010-07-28 [Q&A: Belmont Savings CEO Robert Mahoney - Patch](https://news.google.com/rss/articles/CBMigwFBVV95cUxPdlFqRmVPR3FGc0tvX0E2bHZpN2JkYTFCX2lyNFI0NkRSTV9NVVRpX214N25TTUcycG94NURJYWFyengxaVRYeTFmeEJIM2FuWDFITXBHYWd1WGtlVnZmR05KYlIyR1VkckdaZ2djZlZMeE5BRC0wS2t5YW1YTEV5c05yOA?oc=5) · Patch
- 2019-01-04 [How a lunch between bankers led to the Belmont Savings acquisition - The Business Journals](https://news.google.com/rss/articles/CBMipAFBVV95cUxNbHpLVGdScW9CZ2FQWWdnc2RhQ1ZEUkRMTXJDbHpiQ1JZckRqYWJVdF9HczdfekgzZFdEbmV4cGRXOEJLcEFrcDlWdXAzMll6UXZod3VfYTVpcVdyaWVzbXdGYktfc3doVTVMaDBoRFdZT1hldDkwdld0ZG9uczZNbXU0Q0doWGdFRS1oOXFIQTNRaTBYak1nX3Z0ZFY4Q2dlME1NZA?oc=5) · The Business Journals
- 2018-11-13 [Oakley Country Club Renovating Clubhouse, Pool With Financing from Local Bank - watertownmanews.com](https://news.google.com/rss/articles/CBMitwFBVV95cUxQQkJULS0tT1hGdHhVWXZIOVNjWEpGdkpxVEV1MDhpWjJQS09YT2hKZjBPeWJ1My1EenIxTTR2b0d5NE91czI5bEN3TXAyRng0dlBUV1hNeUR3TVRrM1dYVi1hMEp2ekVFMWx5dnJMNmQzMU51S0hXV01nNnBFWE1nbDZWZEtFUVlrZ2YtMDRzRDdzS0dPV1htT1NZa1JVOENGdmpDU0RzaGQ3SzVHS1VSUmJsVmk0NG8?oc=5) · watertownmanews.com
- 2015-09-22 [After Five Years, Mahoney’s Goal for Belmont Savings to be State’s Most Admired Bank - The Belmontonian](https://news.google.com/rss/articles/CBMisgFBVV95cUxQRVRCME90T1drYlBvOV80OVdURDZJWjdQck1JUUZSRVBNYzVsbTFuX0RRSEFGcGtiZzdOeTN0NlpKc2h6Q1kwNFRNQXV6cC1RdURRRmFsdDg0YklBLVdMdjV5cVJnQlRCeXFxYmZ1Zmt4bXVEazJQZ3l1V1Rla3J5aHpSNGlaMDQtV2w4VHBYWWxlOFRrLUQtQlpTQlZYNWRVb09lZU1Hb0RwZ3NDYmVyMl93?oc=5) · The Belmontonian

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=23901 (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/29.json (key "23901", 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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