First Choice Bank in Lawrenceville, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Choice Bank - Overview

  • General
  • FDIC Certificate #: 58471
    Status: Active
    Federal Reserve ID: 3582673
    Date Established: March 23, 2007
    WWW: http://www.firstchoice-bank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    FDIC's unique #: 452952
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: 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: March 23, 2007
    Last Structure Change Effective Date: April 04, 2007
    Last Structure Change Process Date: April 04, 2007
    Last Data Update: April 04, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 669 Whitehead Road, Lawrenceville, NJ 8648
    County: Mercer
    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): Trenton, NJ (#8480)
    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): Trenton-Ewing, NJ (#45940)
    CBSA Metro Statistical Area: Trenton-Ewing, NJ (#45940)
  • History of Changes
  • Name Change
    Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $669.3 mil
    Equity capital: $63.3 mil
    Deposits held in domestic offices: $542.8 mil
    Return on assets (ROA): 0.75% ($5.0 mil)
    Quarterly return on assets: 0.94% ($6.3 mil)
    Return on Equity (ROE): 7.40% ($4.7 mil)
    Quarterly return on equity: 9.98% ($6.3 mil)
    Net income: $4.1 mil
    Quarterly Net income: $1.5 mil
    Pretax return on assets: 1.25% ($8,366.1 mil)
    Quarterly Pretax return on assets: 1.67% ($11,177.2 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
  • 591Total employees (full-time equivalent)
  • $669,292Total assets
  • $6,638Cash and due from depository institutions
  • $2,048Interest-bearing balances
  • $166,786Securities
  • $620Federal funds sold & reverse repurchase agreements
  • $469,803Net loans & leases
  • $4,968Loan loss allowance
  • $0Trading account assets
  • $5,803Bank premises and fixed assets
  • $678Other real estate owned
  • $381Goodwill and other intangibles
  • $669,292Life insurance assets
  • $18,583All other assets
  • $605,989Total liabilities and capital
  • $542,816Total liabilities
  • $517,262Total deposits
  • $542,816Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $50,935Trading liabilities
  • $0Other borrowed funds
  • $12,238Subordinated debt
  • $63,303All other liabilities
  • $63,303Total equity capital
  • $63,303Total bank equity capital
  • $28,369Perpetual preferred stock
  • $14,865Common stock
  • $15,019Surplus
  • $5,050Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $180,854Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,063Income earned, not collected on loans
  • $0Earning assets
  • $2,075Long-term assets (5+ years)
  • $639,257Average Assets, year-to-date
  • $276,385Average Assets, quarterly
  • $545,437Volatile liabilities
  • $634,005Insider loans
  • $395,679FHLB advances
  • $640,670Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $61,246Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $210,156Restructured Loans and leases
  • $6,659Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $22,591Total interest income
  • $7,226Total interest expense
  • $15,365Net interest income
  • $3,158Provision for loan and lease losses
  • $36,690Total noninterest income
  • $0Fiduciary activities
  • $82Service charges on deposit accounts
  • $0Trading account gains & fees
  • $36,608Additional noninterest income
  • $43,126Total noninterest expense
  • $28,349Salaries and employee benefits
  • $4,329Premises and equipment expense
  • $10,448Additional noninterest expense
  • $5,771Pre-tax net operating income
  • $1,046Securities gains (losses)
  • $2,738Applicable income taxes
  • $4,079Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,079Net income attributable to bank
  • $0Net charge-offs
  • $4,079Cash dividends
  • $1,618Sale, conversion, retirement of capital stock, net
  • $979Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.32%Yield on earning assets
  • 1.38%Cost of funding earning assets
  • 2.94%Net interest margin
  • 7.02%Noninterest income to earning assets
  • 8.26%Noninterest expense to earning assets
  • 0.63%Net operating income to assets
  • 0.75%Return on assets (ROA)
  • 1.25%Pretax return on assets
  • 7.40%Return on equity (ROE)
  • 5.63%Retained earnings to average equity (YTD only)
  • 0.46%Net charge-offs to loans
  • 195.18%Credit loss provision to net charge-offs
  • 5.52%Efficiency ratio
  • 82,847Assets per employee
  • 1.13%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 24.00%Loss allowance to loans
  • 1.05%Loss allowance to noncurrent loans
  • 122.27%Noncurrent assets plus other real estate owned to assets
  • 0.71%Noncurrent loans to loans
  • 0.86%Net loans and leases to deposits
  • 86.55%Net loans and leases to core deposits
  • 97.03%Equity capital to assets
  • 9.46%Core capital (leverage) ratio
  • 9.56%Tier 1 risk-based capital ratio
  • 15.48%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $545,437Average earning assets
  • $55,103Average equity
  • $522,353Average loans

List of branches

  • 5 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0452952First Choice Bank669 Whitehead Road, Lawrenceville, NJ 8648March 23, 2007Full Service Brick and Mortar
    1491623The Shoppes At Hamilton Branch537 Route 130, Hamilton, NJ 8691May 30, 2009Full Service Brick and Mortar
    2492804Robbinsville Branch2344 Route 33, Robbinsville, NJ 8691July 20, 2009Full Service Brick and Mortar
    3509815Mercerville Township Branch840 Route 33, Mercerville, NJ 8619June 02, 2010Full Service Brick and Mortar
    4515160Carduner Shopping Center18 Princeton Hightstown Road, East Windsor, NJ 8520January 03, 2011Full Service Brick and Mortar

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