First Central Savings Bank in Glen Cove, New York (NY)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Central Savings Bank - Overview

  • General
  • FDIC Certificate #: 34969
    Status: Active
    Federal Reserve ID: 2797359
    Date Established: April 05, 1999
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    FDIC's unique #: 62143
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: 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: April 05, 1999
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 70 Glen Street, Glen Cove, NY 11542
    County: Nassau
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: New York City
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Nassau-Suffolk, NY (#5380)
    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: Nassau-Suffolk, NY (#35004)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $605.8 mil
    Equity capital: $34.4 mil
    Deposits held in domestic offices: $559.0 mil
    Return on assets (ROA): -1.21% (-$7.3 mil)
    Quarterly return on assets: -3.22% (-$19.5 mil)
    Return on Equity (ROE): -26.54% (-$9.0 mil)
    Quarterly return on equity: -64.85% (-$22.0 mil)
    Net income: -$7.4 mil
    Quarterly Net income: -$4.8 mil
    Pretax return on assets: -1.40% (-$8,481.2 mil)
    Quarterly Pretax return on assets: -2.73% (-$16,538.3 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
  • 92Total employees (full-time equivalent)
  • $605,800Total assets
  • $130,905Cash and due from depository institutions
  • $119,983Interest-bearing balances
  • $39,134Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $417,206Net loans & leases
  • $18,842Loan loss allowance
  • $0Trading account assets
  • $1,324Bank premises and fixed assets
  • $4,848Other real estate owned
  • $21Goodwill and other intangibles
  • $605,801Life insurance assets
  • $12,362All other assets
  • $571,354Total liabilities and capital
  • $559,006Total liabilities
  • $521,902Total deposits
  • $559,006Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,000Trading liabilities
  • $0Other borrowed funds
  • $2,348Subordinated debt
  • $34,447All other liabilities
  • $34,447Total equity capital
  • $34,447Total bank equity capital
  • $0Perpetual preferred stock
  • $21,058Common stock
  • $26,919Surplus
  • $-13,530Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $44,927Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $34,209Income earned, not collected on loans
  • $0Earning assets
  • $2,453Long-term assets (5+ years)
  • $576,323Average Assets, year-to-date
  • $89,090Average Assets, quarterly
  • $609,783Volatile liabilities
  • $601,028Insider loans
  • $393,689FHLB advances
  • $594,789Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $34,348Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,042Restructured Loans and leases
  • $2,468Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $30,134Total interest income
  • $11,113Total interest expense
  • $19,021Net interest income
  • $13,014Provision for loan and lease losses
  • $1,652Total noninterest income
  • $0Fiduciary activities
  • $2,252Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$600Additional noninterest income
  • $16,166Total noninterest expense
  • $5,138Salaries and employee benefits
  • $2,168Premises and equipment expense
  • $8,860Additional noninterest expense
  • -$8,507Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,124Applicable income taxes
  • -$7,383Income before extraordinary items
  • $0Extraordinary gains - net
  • -$7,383Net income attributable to bank
  • $0Net charge-offs
  • -$7,383Cash dividends
  • $9,651Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.17%Yield on earning assets
  • 1.91%Cost of funding earning assets
  • 3.26%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 2.77%Noninterest expense to earning assets
  • -1.21%Net operating income to assets
  • -1.21%Return on assets (ROA)
  • -1.40%Pretax return on assets
  • -26.54%Return on equity (ROE)
  • -26.54%Retained earnings to average equity (YTD only)
  • 2.03%Net charge-offs to loans
  • 134.85%Credit loss provision to net charge-offs
  • 0.47%Efficiency ratio
  • 78,199Assets per employee
  • 6.58%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.32%Loss allowance to noncurrent loans
  • 55.08%Noncurrent assets plus other real estate owned to assets
  • 6.45%Noncurrent loans to loans
  • 7.85%Net loans and leases to deposits
  • 74.63%Net loans and leases to core deposits
  • 77.54%Equity capital to assets
  • 5.69%Core capital (leverage) ratio
  • 5.77%Tier 1 risk-based capital ratio
  • 8.72%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $609,783Average earning assets
  • $27,822Average equity
  • $583,272Average loans

List of branches

  • 10 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    062143First Central Savings Bank70 Glen Street, Glen Cove, NY 11542April 05, 1999Full Service Brick and Mortar
    1362974Astoria Branch35-01 30th Avenue, Astoria, NY 11103July 02, 2001Full Service Brick and Mortar
    2419805Ridgewood Branch58-02 Myrtle Avenue, Ridgewood, NY 11385June 30, 2003Full Service Brick and Mortar
    3438938Bell Boulevard Branch42-12 Bell Boulevard, Bayside, NY 11361January 22, 2005Full Service Brick and Mortar
    4453543Glen Cove Branch70 Glen Street, Glen Cove, NY 11542July 23, 2005Full Service Brick and Mortar
    5453544Main Street Branch72-76 Main Street, Flushing, NY 11367December 29, 2005Full Service Brick and Mortar
    6453545Ditmars Branch37-28 Ditmars Boulevard, Astoria, NY 11105March 18, 2006Full Service Brick and Mortar
    7466394Sunnyside Branch45-08 46th Street, Sunnyside, NY 11104March 17, 2007Full Service Brick and Mortar
    8478886Forest Hills Branch71-66 Austin Street, Forest Hills, NY 11375December 10, 2007Full Service Brick and Mortar
    9512901Whitestone Branch19-19 Francis Lewis Blvd, Whitestone, NY 11357August 01, 2005Full Service Brick and Mortar

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