Shoreham Bank is an FDIC insured institution headquartered at
1 Shoreham Way, Warwick, RI 02886.
It was founded in
1979 and has approximately $0 billion in
assets. Customers can open an account at one of its 3 branches.
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Overview 2024
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 27417
Date Established
1979
Assets
$ 469.07 million
Loans
$ 398.70 million
Deposits
$ 413.26 million
Capital
$ 52.49 million
Summary Balance Sheet as of March 31, 2024
ASSETS
Cash & Balances due from depository institutions
$ 39.30 million
Interest-bearing balances
$ 38.20 million
Total securities
$ 14.26 million
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 398.70 million
Loan loss allowance
$ 8.14 million
Trading account assets
N.A.
Bank premises and fixed assets
N.A.
Other real estate owned
$ 0.13 million
Goodwill and other intangibles
$ 4.85 million
All other assets
$ 5.08 million
Total Assets
$ 416.57 million
LIABILITIES
Total deposits
$ 413.26 million
Interest-bearing deposits
$ 406.22 million
Deposits held in domestic offices
$ 413.26 million
% insured (estimated)
89.89%
Federal funds purchased and repurchase agreements
N.A.
Trading liabilities
N.A.
Other borrowed funds
$ 8.00 million
Subordinated debt
N.A.
All other liabilities
$ 3.83 millionn
Total Liabilities
$ 416.57 million
Shareholders’ Equity
$ 52.49 million
Summary Income Statement as of March 31, 2024
INCOME AND EXPENSES
Total Interest Income
$ 18.21 million
Total Interest Expense
$ 7.31 million
Net interest income
$ 10.90 million
Provision for loan and lease losses
$ 2.19 million
Total non interest income
$ 4.13 million
Total non interest expense
$ 10.83 million
Pre-tax Net Operating Income
$ 5.08 million
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Branches
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