Abacus Federal Savings Bank in New York, New York (NY), NJ, PA
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Abacus Federal Savings Bank in New York, New York (NY), NJ, PA
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Abacus Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 32257
    Status: Active
    Federal Reserve ID: 762773
    Date Established: November 29, 1984
    WWW: http://www.abacusbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: Yes)
    OTS Docket #: 8059
    FDIC's unique #: 45091
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 29, 1984
    Last Structure Change Effective Date: Febuary 23, 2012
    Last Structure Change Process Date: Febuary 23, 2012
    Last Data Update: Febuary 23, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 6 Bowery, New York, NY 10013
    County: New York
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: New York City
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): New York, NY (#5600)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    Core Based Statistical Division: New York-White Plains-Wayne, NY-NJ (#35644)
  • Financial Summary
  • Total assets: $233.3 mil
    Equity capital: $39.9 mil
    Deposits held in domestic offices: $172.7 mil
    Return on assets (ROA): -0.78% (-$1.8 mil)
    Quarterly return on assets: -1.86% (-$4.3 mil)
    Return on Equity (ROE): -4.26% (-$1.7 mil)
    Quarterly return on equity: -10.45% (-$4.2 mil)
    Net income: -$1.7 mil
    Quarterly Net income: -$1.1 mil
    Pretax return on assets: -1.55% (-$3,615.5 mil)
    Quarterly Pretax return on assets: -3.50% (-$8,164.0 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 112Total employees (full-time equivalent)
  • $233,256Total assets
  • $15,953Cash and due from depository institutions
  • $14,381Interest-bearing balances
  • $83,130Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $110,798Net loans & leases
  • $1,421Loan loss allowance
  • $0Trading account assets
  • $10,107Bank premises and fixed assets
  • $576Other real estate owned
  • $5,118Goodwill and other intangibles
  • $233,256Life insurance assets
  • $7,574All other assets
  • $193,348Total liabilities and capital
  • $172,662Total liabilities
  • $117,385Total deposits
  • $172,662Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $17,815Trading liabilities
  • $0Other borrowed funds
  • $2,871Subordinated debt
  • $39,908All other liabilities
  • $39,908Total equity capital
  • $39,908Total bank equity capital
  • $0Perpetual preferred stock
  • $2,000Common stock
  • $0Surplus
  • $37,908Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,106Income earned, not collected on loans
  • $0Earning assets
  • $1,291Long-term assets (5+ years)
  • $208,309Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $224,341Volatile liabilities
  • $227,467Insider loans
  • $129,311FHLB advances
  • $232,756Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $39,403Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,154Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,236Total interest income
  • $654Total interest expense
  • $6,582Net interest income
  • $418Provision for loan and lease losses
  • $2,381Total noninterest income
  • $0Fiduciary activities
  • $386Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,995Additional noninterest income
  • $12,017Total noninterest expense
  • $4,781Salaries and employee benefits
  • $4,511Premises and equipment expense
  • $2,725Additional noninterest expense
  • -$3,472Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,726Applicable income taxes
  • -$1,746Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,746Net income attributable to bank
  • $0Net charge-offs
  • -$1,746Cash dividends
  • $21Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.64%Yield on earning assets
  • 0.33%Cost of funding earning assets
  • 3.31%Net interest margin
  • 1.20%Noninterest income to earning assets
  • 6.05%Noninterest expense to earning assets
  • -0.78%Net operating income to assets
  • -0.78%Return on assets (ROA)
  • -1.55%Pretax return on assets
  • -4.26%Return on equity (ROE)
  • -4.26%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • 1990.48%Credit loss provision to net charge-offs
  • -145.43%Efficiency ratio
  • 134,073Assets per employee
  • 2.08%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 67.47%Noncurrent assets plus other real estate owned to assets
  • 1.15%Noncurrent loans to loans
  • 1.88%Net loans and leases to deposits
  • 64.17%Net loans and leases to core deposits
  • 71.51%Equity capital to assets
  • 17.11%Core capital (leverage) ratio
  • 16.93%Tier 1 risk-based capital ratio
  • 30.47%Total risk-based capital ratio
  • Memoranda
  • $29Average assets
  • $224,341Average earning assets
  • $40,957Average equity
  • $198,722Average loans

List of branches

  • 1 New Jersey Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    103287358Edison Branch869 U.S. Route 1 South, Edison, NJ 8817March 29, 1997Full Service Brick and Mortar
  • 4 New York Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    045091Abacus Federal Savings Bank6 Bowery, New York, NY 10013November 29, 1984Full Service Brick and Mortar
    100287356Canal Street Branch181-183 Canal St, New York City, NY 10013November 29, 1984Full Service Brick and Mortar
    102287357Brooklyn Branch5518 8th Ave, New York City, NY 11220September 09, 1993Full Service Brick and Mortar
    104361739Flushing Branch36-30 Main Street, Flushing, NY 11354November 22, 2000Full Service Brick and Mortar
  • 1 Pennsylvania Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    105361740Philadelphia Branch147-151 North 10th Street, Philadelphia, PA 19107November 23, 1999Full Service Brick and Mortar

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