BankAsiana in Palisades Park, New Jersey (NJ), NY



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BankAsiana
GeneralFDIC Certificate #: 58525
Status: Active
Federal Reserve ID: 3631067
Date Established: October 31, 2007
WWW: http://www.bankasiana.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: Yes)
FDIC's unique #: 455378
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: October 31, 2007
Last Structure Change Effective Date: April 30, 2011
Last Structure Change Process Date: July 01, 2011
Last Data Update: July 01, 2011
Data Source Date: April 05, 2012
LocationAddress: 7 Broad Avenue, Palisades Park, NJ 7650
County: Bergen
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): Bergen-Passaic, NJ (#875)
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)
History of ChangesOffice Purchased
Financial SummaryTotal assets: $189.9 mil
Equity capital: $26.6 mil
Deposits held in domestic offices: $148.4 mil
Return on assets (ROA): 1.64% ($3.1 mil)
Quarterly return on assets: 0.75% ($1.4 mil)
Return on Equity (ROE): 11.08% ($3.0 mil)
Quarterly return on equity: 5.24% ($1.4 mil)
Net income: $2.8 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.38% ($2,620.6 mil)
Quarterly Pretax return on assets: 1.25% ($2,373.7 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)
Total employees (full-time equivalent)36
Total assets$189,895
Cash and due from depository institutions$19,440
Interest-bearing balances$10,394
Securities$13,732
Federal funds sold & reverse repurchase agreements$998
Net loans & leases$150,094
Loan loss allowance $2,555
Trading account assets$0
Bank premises and fixed assets$1,373
Other real estate owned$0
Goodwill and other intangibles$647
All other assets$3,611
Life insurance assets$189,895
Total liabilities and capital$163,258
Total liabilities$148,429
Total deposits$119,226
Interest-bearing deposits$148,429
Deposits held in domestic offices$80
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $4,829
All other liabilities $26,637
Total equity capital$26,637
Total bank equity capital$26,637
Perpetual preferred stock$5,250
Common stock$11,000
Surplus$11,421
Undivided profits $-1,034
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,651
Earning assets $0
Long-term assets (5+ years) $440
Average Assets, year-to-date $175,218
Average Assets, quarterly $26,447
Volatile liabilities $170,607
Insider loans $184,951
FHLB advances $157,307
Loans and leases held for sale $179,123
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $26,530
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,120
Derivatives$1,847
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,768
Total interest expense $1,690
Net interest income $7,078
Provision for loan and lease losses $2,209
Total noninterest income $2,877
Fiduciary activities $0
Service charges on deposit accounts $309
Trading account gains & fees $0
Additional noninterest income $2,568
Total noninterest expense $5,426
Salaries and employee benefits $2,620
Premises and equipment expense $1,042
Additional noninterest expense $1,764
Pre-tax net operating income $2,320
Securities gains (losses) $38
Applicable income taxes -$434
Income before extraordinary items $2,792
Extraordinary gains - net $0
Net income attributable to bank $2,792
Net charge-offs $0
Cash dividends $2,792
Sale, conversion, retirement of capital stock, net $1,377
Net operating income $105
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.66%
Cost of funding earning assets 1.09%
Net interest margin 4.57%
Noninterest income to earning assets 1.86%
Noninterest expense to earning assets 3.50%
Net operating income to assets 1.61%
Return on assets (ROA) 1.64%
Pretax return on assets 1.38%
Return on equity (ROE) 11.08%
Retained earnings to average equity (YTD only) 10.66%
Net charge-offs to loans 1.04%
Credit loss provision to net charge-offs 160.42%
Efficiency ratio3.29%
Assets per employee$54,505
Cash dividends to net income (YTD only)5.27%
Condition Ratios (%)
Loss allowance to loans 3.76%
Loss allowance to noncurrent loans 1.67%
Noncurrent assets plus other real estate owned to assets 69.98%
Noncurrent loans to loans 1.92%
Net loans and leases to deposits2.39%
Net loans and leases to core deposits 101.12%
Equity capital to assets 120.16%
Core capital (leverage) ratio 14.03%
Tier 1 risk-based capital ratio 14.81%
Total risk-based capital ratio 16.87%
Memoranda
Average assets$18
Average earning assets$170,607
Average equity $25,203
Average loans $154,822
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2 New Jersey Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0455378Bankasiana7 Broad Avenue, Palisades Park, NJ 7650October 31, 2007Full Service Brick and Mortar
1492952Fort Lee Branch172 Main Street, Fort Lee, NJ 7024September 15, 2008Full Service Brick and Mortar
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1 New York Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
2480036Flushing Branch162-05 Crocheron Ave, Flushing, NY 11358June 25, 2008Full Service Brick and Mortar
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