Corestates Bank, National Association in Philadelphia, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 15, 1998

  • Corestates Bank, National Association in Philadelphia, Pennsylvania (PA)
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Corestates Bank, National Association - Overview

  • General
  • FDIC Certificate #: 719
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Wachovia Bank, National Association (#33869)
    Federal Reserve ID: 298816
    Date Established: January 01, 1782
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 596 (Interstate: No)
    OTS Docket #: 12645
    FDIC's unique #: 460
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: May 15, 1998
    Last Structure Change Process Date: June 08, 1998
    Last Data Update: June 08, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: Broad And Chestnut Streets, Philadelphia, PA 19101
    County: Philadelphia
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: Atlanta
    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)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $44,871.2 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 15,499Total employees (full-time equivalent)
  • $45,408,502Total assets
  • $6,934,084Cash and due from depository institutions
  • $3,120,007Interest-bearing balances
  • $3,280,912Securities
  • $451,682Federal funds sold & reverse repurchase agreements
  • $31,857,327Net loans & leases
  • $511,144Loan loss allowance
  • $256,922Trading account assets
  • $578,066Bank premises and fixed assets
  • $13,713Other real estate owned
  • $229,393Goodwill and other intangibles
  • $0Life insurance assets
  • $1,806,403All other assets
  • $45,408,502Total liabilities and capital
  • $42,276,403Total liabilities
  • $35,147,446Total deposits
  • $24,185,179Interest-bearing deposits
  • $32,388,848Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,983,743Federal funds purchased & repurchase agreements
  • $56,968Trading liabilities
  • $2,299,967Other borrowed funds
  • $505,000Subordinated debt
  • $2,283,279All other liabilities
  • $3,132,099Total equity capital
  • $3,132,099Total bank equity capital
  • $3,132,099Perpetual preferred stock
  • $0Common stock
  • $37,308Surplus
  • $2,369,513Undivided profits
  • Memoranda
  • $725,278Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $319,945Earning assets
  • $0Long-term assets (5+ years)
  • $197,682Average Assets, year-to-date
  • $38,903,207Average Assets, quarterly
  • $3,687,694Volatile liabilities
  • $43,743,289Insider loans
  • $44,919,055FHLB advances
  • $9,393,812Loans and leases held for sale
  • $457,537Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $140,769Total risk weighted assets
  • $15,967,177Total unused commitments
  • $0Restructured Loans and leases
  • $42,741,630Derivatives
  • $6,584,952Total assets and liabilities in foreign offices

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $2,889,153Total interest income
  • $1,120,035Total interest expense
  • $1,769,118Net interest income
  • $57,421Provision for loan and lease losses
  • $782,543Total noninterest income
  • $131,061Fiduciary activities
  • $230,752Service charges on deposit accounts
  • $27,922Trading account gains & fees
  • $392,808Additional noninterest income
  • $1,569,035Total noninterest expense
  • $659,832Salaries and employee benefits
  • $222,888Premises and equipment expense
  • $686,315Additional noninterest expense
  • $925,205Pre-tax net operating income
  • -$1,719Securities gains (losses)
  • $204,684Applicable income taxes
  • $718,802Income before extraordinary items
  • $0Extraordinary gains - net
  • $718,802Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $118,960Sale, conversion, retirement of capital stock, net
  • $625,000Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.70%Yield on earning assets
  • 2.98%Cost of funding earning assets
  • 4.71%Net interest margin
  • 2.09%Noninterest income to earning assets
  • 4.18%Noninterest expense to earning assets
  • 1.65%Net operating income to assets
  • 1.64%Return on assets (ROA)
  • 2.11%Pretax return on assets
  • 22.80%Return on equity (ROE)
  • 2.98%Retained earnings to average equity (YTD only)
  • 0.39%Net charge-offs to loans
  • 48.27%Credit loss provision to net charge-offs
  • 8.26%Efficiency ratio
  • 60,307Assets per employee
  • 2.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 86.95%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 159.76%Noncurrent assets plus other real estate owned to assets
  • 0.73%Noncurrent loans to loans
  • 0.99%Net loans and leases to deposits
  • 90.64%Net loans and leases to core deposits
  • 109.10%Equity capital to assets
  • 6.90%Core capital (leverage) ratio
  • 8.17%Tier 1 risk-based capital ratio
  • 8.54%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $43,743,289Average earning assets
  • $3,152,421Average equity
  • $37,530,637Average loans

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