Community First Bank in Somerset, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Community First Bank in Somerset, New Jersey (NJ)
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Community First Bank - Overview

  • General
  • FDIC Certificate #: 58782
    Status: Active
    Federal Reserve ID: 3797712
    Date Established: October 06, 2008
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 467801
    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 06, 2008
    Last Structure Change Effective Date: April 03, 2012
    Last Structure Change Process Date: April 03, 2012
    Last Data Update: April 03, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 408 Elizabeth Avenue, Somerset, NJ 8873
    County: Somerset
    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): Middlesex-Somerset-Hunterdon, NJ (#5015)
    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: Edison-New Brunswick, NJ (#20764)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $63.7 mil
    Equity capital: $8.0 mil
    Deposits held in domestic offices: $55.4 mil
    Return on assets (ROA): -1.40% (-$0.9 mil)
    Quarterly return on assets: -0.86% (-$0.6 mil)
    Return on Equity (ROE): -9.32% (-$0.7 mil)
    Quarterly return on equity: -6.60% (-$0.5 mil)
    Net income: -$0.8 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -1.40% (-$892.0 mil)
    Quarterly Pretax return on assets: -0.86% (-$547.9 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
  • 18Total employees (full-time equivalent)
  • $63,714Total assets
  • $3,817Cash and due from depository institutions
  • $3,309Interest-bearing balances
  • $7,491Securities
  • $1,642Federal funds sold & reverse repurchase agreements
  • $48,359Net loans & leases
  • $466Loan loss allowance
  • $0Trading account assets
  • $1,296Bank premises and fixed assets
  • $689Other real estate owned
  • $0Goodwill and other intangibles
  • $63,714Life insurance assets
  • $420All other assets
  • $55,735Total liabilities and capital
  • $55,420Total liabilities
  • $47,436Total deposits
  • $55,420Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $315Subordinated debt
  • $7,979All other liabilities
  • $7,979Total equity capital
  • $7,979Total bank equity capital
  • $0Perpetual preferred stock
  • $6,623Common stock
  • $6,074Surplus
  • $-4,718Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $209Income earned, not collected on loans
  • $0Earning assets
  • $214Long-term assets (5+ years)
  • $60,801Average Assets, year-to-date
  • $29,303Average Assets, quarterly
  • $55,567Volatile liabilities
  • $61,750Insider loans
  • $58,108FHLB advances
  • $60,958Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,994Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,773Restructured Loans and leases
  • $750Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,505Total interest income
  • $430Total interest expense
  • $2,075Net interest income
  • $310Provision for loan and lease losses
  • $414Total noninterest income
  • $0Fiduciary activities
  • $7Service charges on deposit accounts
  • $0Trading account gains & fees
  • $407Additional noninterest income
  • $2,957Total noninterest expense
  • $1,577Salaries and employee benefits
  • $575Premises and equipment expense
  • $805Additional noninterest expense
  • -$778Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • -$780Income before extraordinary items
  • $0Extraordinary gains - net
  • -$780Net income attributable to bank
  • $0Net charge-offs
  • -$780Cash dividends
  • $125Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.73%Yield on earning assets
  • 0.81%Cost of funding earning assets
  • 3.92%Net interest margin
  • 0.78%Noninterest income to earning assets
  • 5.58%Noninterest expense to earning assets
  • -1.40%Net operating income to assets
  • -1.40%Return on assets (ROA)
  • -1.40%Pretax return on assets
  • -9.32%Return on equity (ROE)
  • -9.32%Retained earnings to average equity (YTD only)
  • 0.30%Net charge-offs to loans
  • 248.00%Credit loss provision to net charge-offs
  • -3.74%Efficiency ratio
  • 118,803Assets per employee
  • 3.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.95%Loss allowance to noncurrent loans
  • 222.97%Noncurrent assets plus other real estate owned to assets
  • 1.41%Noncurrent loans to loans
  • 0.43%Net loans and leases to deposits
  • 87.26%Net loans and leases to core deposits
  • 105.70%Equity capital to assets
  • 12.52%Core capital (leverage) ratio
  • 13.11%Tier 1 risk-based capital ratio
  • 13.76%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $55,567Average earning assets
  • $8,368Average equity
  • $52,961Average loans

List of branches

  • 2 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0467801Community First Bank408 Elizabeth Avenue, Somerset, NJ 8873October 06, 2008Full Service Brick and Mortar
    1518084Springfield Branch899 Mountain Avenue, Springfield, NJ 7081Febuary 28, 2011Full Service Brick and Mortar

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