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| 8-K - 8-K - BOSTON PRIVATE FINANCIAL HOLDINGS INC | bpfh-20200302.htm |
Quarterly Statement of FINANCIAL CONDITION for Boston Private Bank & Trust Company Fourth Quarter 2019 BOSTON PRIVATE offers a full spectrum of wealth, trust, and banking services designed to FINANCIAL HIGHLIGHTS (as of 12/31/2019) give you one trusted resource to help simplify and strengthen your financial life. $7.3 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 $7.0 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 9.03% 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 $15.2 Billion Boston, New York, San Francisco, San Jose, Los Total Client Assets1 Angeles, and 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. $2.6 billion of cash, high-quality Liquidity unpledged investment securities, IDC Superior Profile and borrowing capacity from the Rating3 Federal Home Loan Bank. bostonprivate.com
The financial highlights and condensed balance sheet below demonstrate the overall financial strength of Boston Private Bank & Trust Company as of December 31, 2019. CAPITAL BASE (as of12/31/2019) CAPITAL 12/31/19 14% 13.09% Total Risk-Based 13.09% 11.97% 11.97% 12% Tier 1 Risk-Based 11.97% 10% 10% Common Equity Tier 1 11.97% 9.03% 8% 8% Tier 1 Leverage 9.03% 6.5% 6% 5% 4% Well-Capitalized 2% Boston Private Bank & Trust Company 0% Total Risk-Based Tier 1 Risk-Based Common Equity Tier 1 Tier 1 Leverage CONDENSED BALANCE SHEET ($ in thousands) LIABILITIES & ASSETS 12/31/2019 12/31/2019 SHAREHOLDER’S EQUITY CASH & INVESTMENTS $1,334,409 DEPOSITS Demand Deposits $2,020,901 LOANS NOW 533,473 Loans held for sale 7,386 Savings & Money Market 4,084,262 Commercial & Construction 3,919,218 Certificate of Deposit 654,933 Residential Mortgage 2,839,155 Total Deposits 7,293,569 Home Equity and Consumer 218,331 BORROWINGS 404,227 Total Loans 6,976,704 Less: Allowance for loan losses (71,892 ) OTHER LIABILITIES 245,049 Net Loans 6,904,812 7,942,845 OTHER ASSETS 548,470 TOTAL LIABILITIES SHAREHOLDER’S EQUITY 852,232 TOTAL TOTAL ASSETS $8,795,077 $8,795,077 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 December 31, 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_20200224