Continental Bank in Norristown, Pennsylvania (PA)



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Table of contents:
Continental Bank
GeneralFDIC Certificate #: 475
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: PNC Bank, National Association (#6384)
Federal Reserve ID: 177014
Date Established: January 01, 1921
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 62 (Interstate: No)
OTS Docket #: 8920
FDIC's unique #: 348
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: January 01, 1934
Last Structure Change Effective Date: August 27, 1994
Last Structure Change Process Date: September 09, 1994
Last Data Update: September 09, 1994
Data Source Date: April 05, 2012
LocationAddress: Main And Swede Streets, Norristown, PA 19401
County: Montgomery
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Philadelphia
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Philadelphia, PA-NJ (#6160)
Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
Core Based Statistical Division: Philadelphia, PA (#37964)
Financial SummaryTotal assets: $3,633.6 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$1,043
Cash and due from depository institutions$3,767,522
Interest-bearing balances$351,847
Securities$181,110
Federal funds sold & reverse repurchase agreements$344,797
Net loans & leases$165,000
Loan loss allowance $2,792,874
Trading account assets$89,509
Bank premises and fixed assets$0
Other real estate owned$28,658
Goodwill and other intangibles$16,562
All other assets$125
Life insurance assets$67,659
Total liabilities and capital$0
Total liabilities$3,767,522
Total deposits$3,474,908
Interest-bearing deposits$3,113,606
Deposits held in domestic offices$2,492,702
% insured (estimated)3113606.00%
Federal funds purchased & repurchase agreements $81
Trading liabilities$220,683
Other borrowed funds $0
Subordinated debt $95,423
All other liabilities $0
Total equity capital$45,196
Total bank equity capital$45,196
Perpetual preferred stock$292,614
Common stock$0
Surplus$23,531
Undivided profits $81,260
Memoranda
Noncurrent loans and leases $187,823
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $119,815
Earning assets $13,988
Long-term assets (5+ years) $3,483,781
Average Assets, year-to-date $610,648
Average Assets, quarterly $3,741,103
Volatile liabilities $3,709,858
Insider loans $526,816
FHLB advances $117,345
Loans and leases held for sale $0
Unused loan commitments $41,366
Tier 1 (core) risk-based capital $837,636
Tier 2 risk-based capital $0
Total risk weighted assets $292,489
Total unused commitments $2,990,654
Restructured Loans and leases $0
Derivatives$385,131
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $237,942
Net interest income $83,453
Provision for loan and lease losses $154,489
Total noninterest income $25,135
Fiduciary activities $30,285
Service charges on deposit accounts $6,835
Trading account gains & fees $15,638
Additional noninterest income $138
Total noninterest expense $7,674
Salaries and employee benefits $134,911
Premises and equipment expense $45,172
Additional noninterest expense $13,170
Pre-tax net operating income $76,569
Securities gains (losses) $24,728
Applicable income taxes $341
Income before extraordinary items $5,740
Extraordinary gains - net $19,329
Net income attributable to bank $3,296
Net charge-offs $22,625
Cash dividends $43,186
Sale, conversion, retirement of capital stock, net $18,458
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 6.97%
Net interest margin 2.44%
Noninterest income to earning assets 4.52%
Noninterest expense to earning assets 0.89%
Net operating income to assets 3.95%
Return on assets (ROA) 0.51%
Pretax return on assets 0.60%
Return on equity (ROE) 0.76%
Retained earnings to average equity (YTD only) 7.78%
Net charge-offs to loans 1.43%
Credit loss provision to net charge-offs 1.45%
Efficiency ratio58.20%
Assets per employee$72,995
Cash dividends to net income (YTD only)3.61%
Condition Ratios (%)
Loss allowance to loans 81.58%
Loss allowance to noncurrent loans 3.11%
Noncurrent assets plus other real estate owned to assets 74.71%
Noncurrent loans to loans 3.62%
Net loans and leases to deposits4.16%
Net loans and leases to core deposits 89.70%
Equity capital to assets 96.22%
Core capital (leverage) ratio 7.77%
Tier 1 risk-based capital ratio 7.96%
Total risk-based capital ratio 9.78%
Memoranda
Average assets$11
Average earning assets$3,741,103
Average equity $290,969
Average loans $3,414,651
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