Attached files
| file | filename |
|---|---|
| 8-K - 8-K Q3-19 BANK SOFC - BOSTON PRIVATE FINANCIAL HOLDINGS INC | a2019q38-kbanksofc12x3.htm |
Quarterly Statement of FINANCIAL CONDITION for Boston Private Bank & Trust Company Third Quarter 2019 BOSTON PRIVATE offers a full spectrum of wealth, trust, and banking services designed to FINANCIAL HIGHLIGHTS (as of 9/30/2019) give you one trusted resource to help simplify and strengthen your financial life. $6.7 Billion Total Deposits Every individual and organization has a different reason WHY they work so hard. At Boston Private, we strive to understand what drives our clients, so $7.1 Billion Total Loans that we can help them live and work the way they want. Understanding what our clients’ wealth is really for enables us to formulate a custom strategy 9.10% Tier 1 and solution to help them achieve their goals, Leverage Capital Ratio (Above the 5.00% required hopes and dreams for today and tomorrow. by the FDIC to be well-capitalized) Headquartered in Boston, we serve clients from our offices located in the major markets of Greater $14.7 Billion Boston, San Francisco, San Jose, Los Angeles, and Total Client Assets1 Palm Beach Gardens.2 Capital ratios in excess of levels Asset Low levels of problem loans due Capital banking regulators consider to be to our underwriting standards. Quality Base well-capitalized. $2.2 billion of cash, high-quality Liquidity unpledged investment securities, IDC Superior Profile and borrowing capacity from the Rating3 Federal Home Loan Bank. bostonprivate.com
The financial highlights and condensed balance sheet below demonstrate the overall financial strength of Boston Private Bank & Trust Company as of September 30, 2019. CAPITAL BASE (as of 9/30/2019) CAPITAL 9/30/19 14% 13.09% 11.91% 11.91% Total Risk-Based 13.09% 12% Tier 1 Risk-Based 11.91% 10% 10% 9.10% Common Equity Tier 1 11.91% 8% 8% Tier 1 Leverage 9.10% 6.5% 6% 5% Well-Capitalized 4% Boston Private Bank 2% & Trust Company 0% Total Risk-Based Tier 1 Risk-Based Common Equity Tier 1 Tier 1 Leverage CONDENSED BALANCE SHEET ($ in thousands) LIABILITIES & ASSETS 9/30/2019 9/30/2019 SHAREHOLDER’S EQUITY CASH & INVESTMENTS $1,083,484 DEPOSITS Demand Deposits $1,992,914 LOANS NOW 556,718 Loans held for sale 6,658 Savings & Money Market 3,471,841 Commercial & Construction 3,886,604 Certificate of Deposit 678,149 Residential Mortgage 2,964,042 Total Deposits 6,699,622 Home Equity and Consumer 216,505 BORROWINGS 849,764 Total Loans 7,067,151 Less: Allowance for loan losses (75,359 ) OTHER LIABILITIES 253,304 Net Loans 6,991,792 7,802,690 OTHER ASSETS 572,145 TOTAL LIABILITIES SHAREHOLDER’S EQUITY 851,389 TOTAL TOTAL ASSETS $8,654,079 $8,654,079 LIABILITIES AND EQUITY 1Total Client Assets includes: (1) the value of client portfolios under management by Boston Private Wealth, LLC (“BPW”); (2) the value of ERISA plans and non-managed client assets to which BPW provides advisory services; and (3) assets held for safekeeping (custody) by Boston Private Bank and Trust Company (“BPBTC”) for clients of Trust and Fiduciary Services and BPW. 2 Certain offices may offer only wealth management or private banking services. 3As of September 30, 2019, Boston Private Bank & Trust Company’s safety and soundness was ranked “Superior” according to IDC Financial Publishing. As part of an independent third-party assessment of Boston Private Bank & Trust Company, IDC Financial Publishing, Inc. (IDC), a bank rating agency, has been rating the safety and soundness of banks since 1985. Every quarter, IDC calculates a one-number rank for over 13,000 financial institutions, using 24 key financial ratios. Bank safety ratings fall into one of six categories: Superior, Excellent, Average, Below Average, Lowest Ratios, and Rank of One. Private Banking and Trust services are offered through Boston Private Bank & Trust Company, a Massachusetts Chartered Trust Company. Wealth Management services are offered through Boston Private Wealth LLC, an SEC Registered Investment Adviser and wholly-owned subsidiary of Boston Private Bank & Trust Company. Boston Private Wealth LLC, Boston Private Bank & Trust Company, their affiliates and their staff do not provide tax, accounting or legal advice. Investments are Not FDIC Insured, Not Guaranteed and May Lose Value. 00001_20200106