FDIC Certificate #: 19183 Status: Inactive Closing history: Corrections Acquiring institution:Hudson United Bank (#12256) Federal Reserve ID: 577904 Date Established: July 23, 1964 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 5 (Interstate: No) FDIC's unique #: 13004 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: July 23, 1964 Last Structure Change Effective Date: June 28, 2002 Last Structure Change Process Date: July 03, 2002 Last Data Update: July 03, 2002 Data Source Date: April 05, 2012
Location
Address: 612 Bedford Street, Stamford, CT 6901 County: Fairfield Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Hartford Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Stamford-Norwalk, CT (#8040) 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): Bridgeport-Stamford-Norwalk, CT (#14860) CBSA Metro Statistical Area: Bridgeport-Stamford-Norwalk, CT (#14860)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $384.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
164Total employees (full-time equivalent)
$407,091Total assets
$19,382Cash and due from depository institutions
$2,856Interest-bearing balances
$9,358Securities
$45,399Federal funds sold & reverse repurchase agreements
$310,594Net loans & leases
$13,286Loan loss allowance
$14Trading account assets
$1,633Bank premises and fixed assets
$190Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$20,521All other assets
$407,091Total liabilities and capital
$379,714Total liabilities
$365,240Total deposits
$309,020Interest-bearing deposits
$335,716Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$110Other borrowed funds
$0Subordinated debt
$14,364All other liabilities
$27,377Total equity capital
$27,377Total bank equity capital
$27,377Perpetual preferred stock
$10,000Common stock
$63Surplus
$34,872Undivided profits
Memoranda
$-17,558Noncurrent loans and leases
$21,593Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,117Earning assets
$0Long-term assets (5+ years)
$4,832Average Assets, year-to-date
$368,221Average Assets, quarterly
$11,379Volatile liabilities
$398,237Insider loans
$412,497FHLB advances
$158,960Loans and leases held for sale
$785Unused loan commitments
$0Tier 1 (core) risk-based capital
$21,014Tier 2 risk-based capital
$0Total risk weighted assets
$21,593Total unused commitments
$1,649Restructured Loans and leases
$4,460Derivatives
$10,556Total assets and liabilities in foreign offices
Income and Expense (December 31, 2001)
Dollar figures in thousands
$32,907Total interest income
$14,039Total interest expense
$18,868Net interest income
$14,338Provision for loan and lease losses
$11,846Total noninterest income
$0Fiduciary activities
$3,364Service charges on deposit accounts
$787Trading account gains & fees
$7,695Additional noninterest income
$22,361Total noninterest expense
$12,294Salaries and employee benefits
$3,040Premises and equipment expense
$7,027Additional noninterest expense
-$5,985Pre-tax net operating income
-$4Securities gains (losses)
-$2,133Applicable income taxes
-$3,856Income before extraordinary items
$0Extraordinary gains - net
-$3,856Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$7,488Sale, conversion, retirement of capital stock, net
$880Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.97%Yield on earning assets
3.83%Cost of funding earning assets
5.14%Net interest margin
3.23%Noninterest income to earning assets
6.09%Noninterest expense to earning assets
-0.97%Net operating income to assets
-0.97%Return on assets (ROA)
-1.50%Pretax return on assets
-13.16%Return on equity (ROE)
-16.16%Retained earnings to average equity (YTD only)
2.42%Net charge-offs to loans
191.48%Credit loss provision to net charge-offs
1.12%Efficiency ratio
72,804Assets per employee
2.48%Cash dividends to net income (YTD only)
Condition Ratios (%)
-22.82%Loss allowance to loans
4.10%Loss allowance to noncurrent loans
145.73%Noncurrent assets plus other real estate owned to assets
2.29%Noncurrent loans to loans
2.81%Net loans and leases to deposits
85.04%Net loans and leases to core deposits
150.57%Equity capital to assets
6.73%Core capital (leverage) ratio
6.59%Tier 1 risk-based capital ratio
7.87%Total risk-based capital ratio
Memoranda
$9Average assets
$398,237Average earning assets
$29,306Average equity
$366,945Average loans
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