Apple Valley Bank & Trust Company is based in Cheshire, Connecticut.  The bank has three branches in the region.  The bank was established on March 2, 2001.  Apple Valley Bank & Trust Company has been FDIC insured since March 2, 2001.  The Apple Valley Bank & Trust Company is chartered as a Federal Reserve Non-member.  Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).  As of the close of 2008, the bank had total assets of $81,394,000 and total deposits of $70,695,000.  Net income for 2008 was a loss of -$586,000.  The bank operates with approximately 26 full-time equivalent employees.

Apple Valley Bank & Trust Company most recent performance ratios.
As of December 31, 2008:
Yield on earning assets 6.34% 
Cost of funding earning assets 3.11% 
Net interest margin 3.24%
Noncurrent loans to loans 2.51%
Equity capital to assets 7.32% 
Core capital (leverage) ratio 5.48% 
Tier 1 risk-based capital ratio 7.28% 
Total risk-based capital ratio 8.47%
Return on equity (ROE) -9.31%
Return on assets (ROA) -0.75%

Apple Valley Bank & Trust Company products and services:

Apple Valley Bank & Trust Company principal activity is to provide commercial banking services to small businesses and consumers.  The bank finances commercial and consumer transactions, makes secured and unsecured loans, offers lines of credit and provides a variety of other banking services.  It also offers a variety of deposits consisting of checking accounts, NOW accounts, money market accounts, savings accounts, certificates of deposits, individual retirement accounts, safe deposit facilities and money transfers.

New England Bancshares, Inc. and The Apple Valley Bank &Trust Company announced that they have signed a definitive agreement whereby New England Bancshares will acquire Apple Valley Bank, in a transaction valued at approximately $7.3 million.  As part of the acquisition, Apple Valley Bank will be merged into New England Bancshares’ wholly-owned banking subsidiary, Valley Bank.  The transaction will increase New England Bancshares’ assets from $541 million at September 30, 2008 to approximately $624 million and increase its number of banking offices from 12 to 15.

Apple Valley Bank & Trust Company branch bank locations:

Cheshire Office
286 Maple Ave.
Cheshire, CT 06410
Phone: (203) 271-1268
Fax: (203) 271-1540

Wallingford Office
670 N. Colony Rd. (Route 5)
Wallingford, CT 06492
Phone: (203) 265-1223
Fax: (203) 265-1149

Southington Office
158 N. Main St.
Southington, CT 06489
Phone: (860) 621-3521
Fax: (860) 621-3587

Apple Valley Bank & Trust Company web address:

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