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| 8-K - 8-K - BOSTON PRIVATE FINANCIAL HOLDINGS INC | bpfh-20200901.htm |
Quarterly Statement of FINANCIAL CONDITION for Boston Private Bank & Trust Company Second Quarter 2020 BOSTON PRIVATE is a leading provider of integrated wealth management, trust and FINANCIAL HIGHLIGHTS (as of 06/30/2020) private banking services to individuals, families, businesses and nonprofits. Over the last 30 $7.5 Billion years, Boston Private has provided clients with Total Deposits comprehensive advice and deep technical expertise that spans every aspect of their lives to $7.3 Billion simplify their path to financial success. Total Loans The firm provides the capabilities of larger institutions yet delivers the superior service 8.63% Tier 1 of a boutique firm. Headquartered in Boston, Leverage Capital Ratio (Above the 5.00% required we serve clients from our offices located in the by the FDIC to be well-capitalized) major markets of Greater Boston, New York, San Francisco, San Jose, Los Angeles, Miami, and Palm Beach Gardens.2 $14.9 Billion Total Client Assets1 Asset Nonperforming Loans represent Capital Capital ratios in excess of levels 0.35% of the total loan portfolio as of banking regulators consider to be Quality June 30, 2020 Base well-capitalized. Liquidity $2.3 billion of cash (as of June 30, 2020), IDC Superior high-quality unpledged investment 3 Profile securities, and borrowing capacity from Rating the Federal Home Loan Bank. bostonprivate.com
The financial highlights and condensed balance sheet below demonstrate the overall financial strength of Boston Private Bank & Trust Company as of June 30, 2020. CAPITAL BASE (as of 06/30/2020) CAPITAL 06/30/20 14% 13.03% Total Risk-Based 13.03% 11.78% 11.78% 12% Tier 1 Risk-Based 11.78% 10% 10% Common Equity Tier 1 11.78% 8.63% 8% 8% Tier 1 Leverage 8.63% 6.5% 6% 5% 4% Well-Capitalized 2% Boston Private Bank & Trust Company 0% Total Risk-Based Tier 1 Risk-Based Common Equity Tier 1 Tier 1 Leverage CONDENSED BALANCE SHEET ($ in thousands) LIABILITIES & ASSETS 06/30/2020 06/30/2020 SHAREHOLDER’S EQUITY CASH & INVESTMENTS $ 1,221,256 DEPOSITS Demand Deposits $2,368,268 LOANS NOW 618,537 Loans held for sale 9,786 Savings & Money Market 3,866,625 Commercial & Construction 3,901,931 Certificate of Deposit 621,649 Residential Mortgage 2,859,627 Total Deposits 7,475,079 Home Equity and Consumer 201,362 BORROWINGS 472,936 Total Loans 7,332,954 Less: Allowance for loan losses (89,324) OTHER LIABILITIES 308,371 Net Loans 7,243,630 OTHER ASSETS 650,718 TOTAL LIABILITIES 8,256,386 SHAREHOLDER’S EQUITY 869,004 TOTAL ASSETS $9,125,390 TOTAL $9,125,390 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 June 30, 2020, 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_20200825