FDIC Certificate #: 34270 Status: Inactive Closing history: Corrections Acquiring institution:Crown Bank (#34259) Federal Reserve ID: 2538842 Date Established: January 15, 1997 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Interstate: No) FDIC's unique #: 57029 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 15, 1997 Last Structure Change Effective Date: July 31, 2009 Last Structure Change Process Date: August 03, 2009 Last Data Update: August 03, 2009 Data Source Date: April 05, 2012
Location
Address: 339 North Broad Street, Elizabeth, NJ 7208 County: Union 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): Newark, NJ (#5640) 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: Newark-Union, NJ-PA (#35084)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $163.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
51Total employees (full-time equivalent)
$173,442Total assets
$18,975Cash and due from depository institutions
$50Interest-bearing balances
$30,446Securities
$5,724Federal funds sold & reverse repurchase agreements
$111,503Net loans & leases
$7,623Loan loss allowance
$0Trading account assets
$4,757Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,037All other assets
$173,442Total liabilities and capital
$168,050Total liabilities
$161,140Total deposits
$139,281Interest-bearing deposits
$161,140Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$6,000Other borrowed funds
$0Subordinated debt
$910All other liabilities
$5,392Total equity capital
$5,392Total bank equity capital
$5,392Perpetual preferred stock
$0Common stock
$14,906Surplus
$5,585Undivided profits
Memoranda
$-15,099Noncurrent loans and leases
$8,475Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$12,275Earning assets
$0Long-term assets (5+ years)
$596Average Assets, year-to-date
$147,723Average Assets, quarterly
$85,577Volatile liabilities
$191,275Insider loans
$178,680FHLB advances
$37,514Loans and leases held for sale
$12,677Unused loan commitments
$6,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,484Total risk weighted assets
$8,475Total unused commitments
$0Restructured Loans and leases
$1,604Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$10,430Total interest income
$5,399Total interest expense
$5,031Net interest income
$10,441Provision for loan and lease losses
$677Total noninterest income
$0Fiduciary activities
$654Service charges on deposit accounts
$0Trading account gains & fees
$23Additional noninterest income
$8,208Total noninterest expense
$2,659Salaries and employee benefits
$1,505Premises and equipment expense
$4,044Additional noninterest expense
-$12,941Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$12,941Income before extraordinary items
$0Extraordinary gains - net
-$12,941Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$6,556Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.08%Yield on earning assets
3.15%Cost of funding earning assets
2.93%Net interest margin
0.39%Noninterest income to earning assets
4.78%Noninterest expense to earning assets
-6.77%Net operating income to assets
-6.77%Return on assets (ROA)
-6.77%Pretax return on assets
-93.02%Return on equity (ROE)
-93.02%Retained earnings to average equity (YTD only)
5.34%Net charge-offs to loans
159.26%Credit loss provision to net charge-offs
-0.38%Efficiency ratio
143,798Assets per employee
3.40%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
6.40%Loss allowance to noncurrent loans
62.10%Noncurrent assets plus other real estate owned to assets
7.08%Noncurrent loans to loans
10.30%Net loans and leases to deposits
69.20%Net loans and leases to core deposits
86.02%Equity capital to assets
3.11%Core capital (leverage) ratio
2.80%Tier 1 risk-based capital ratio
4.20%Total risk-based capital ratio
Memoranda
$6Average assets
$191,275Average earning assets
$13,913Average equity
$171,650Average loans
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