American Union Bank in Union, New Jersey (NJ)



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American Union Bank
GeneralFDIC Certificate #: 32966
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Valley National Bank (#9396)
Federal Reserve ID: 1457263
Date Established: June 04, 1990
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 46144
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: June 04, 1990
Last Structure Change Effective Date: Febuary 28, 1995
Last Structure Change Process Date: March 14, 1995
Last Data Update: March 14, 1995
Data Source Date: April 05, 2012
LocationAddress: 2784 Morris Avenue, Union, NJ 7083
County: Union
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Jamesburg
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Newark, NJ (#5640)
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: Newark-Union, NJ-PA (#35084)
Financial SummaryTotal assets: $57.4 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$23
Cash and due from depository institutions$57,389
Interest-bearing balances$2,481
Securities$0
Federal funds sold & reverse repurchase agreements$19,950
Net loans & leases$1,910
Loan loss allowance $31,876
Trading account assets$367
Bank premises and fixed assets$0
Other real estate owned$286
Goodwill and other intangibles$0
All other assets$0
Life insurance assets$886
Total liabilities and capital$0
Total liabilities$57,389
Total deposits$53,221
Interest-bearing deposits$52,565
Deposits held in domestic offices$42,578
% insured (estimated)52565.00%
Federal funds purchased & repurchase agreements $86
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$656
Total bank equity capital$656
Perpetual preferred stock$4,168
Common stock$0
Surplus$2,750
Undivided profits $2,318
Memoranda
Noncurrent loans and leases $-900
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $440
Earning assets $235
Long-term assets (5+ years) $53,736
Average Assets, year-to-date $8,265
Average Assets, quarterly $53,341
Volatile liabilities $56,223
Insider loans $3,326
FHLB advances $717
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $8,552
Tier 2 risk-based capital $0
Total risk weighted assets $4,425
Total unused commitments $36,497
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $3,572
Net interest income $1,253
Provision for loan and lease losses $2,319
Total noninterest income $97
Fiduciary activities $279
Service charges on deposit accounts $0
Trading account gains & fees $243
Additional noninterest income $0
Total noninterest expense $36
Salaries and employee benefits $2,328
Premises and equipment expense $894
Additional noninterest expense $313
Pre-tax net operating income $1,121
Securities gains (losses) $173
Applicable income taxes -$173
Income before extraordinary items -$140
Extraordinary gains - net $140
Net income attributable to bank $0
Net charge-offs $140
Cash dividends $22
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1994)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.12%
Net interest margin 2.50%
Noninterest income to earning assets 4.62%
Noninterest expense to earning assets 0.56%
Net operating income to assets 4.64%
Return on assets (ROA) 0.59%
Pretax return on assets 0.26%
Return on equity (ROE) 0.00%
Retained earnings to average equity (YTD only) 3.32%
Net charge-offs to loans 3.32%
Credit loss provision to net charge-offs 0.08%
Efficiency ratio440.91%
Assets per employee$89,607
Cash dividends to net income (YTD only)2.50%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.14%
Noncurrent assets plus other real estate owned to assets 83.41%
Noncurrent loans to loans 0.77%
Net loans and leases to deposits1.36%
Net loans and leases to core deposits 60.64%
Equity capital to assets 64.74%
Core capital (leverage) ratio 7.26%
Tier 1 risk-based capital ratio 7.73%
Total risk-based capital ratio 12.12%
Memoranda
Average assets$13
Average earning assets$53,341
Average equity $4,223
Average loans $50,163
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