First Fidelity Bank, National Association, Pennsylvania in Salem, New Jersey (NJ)



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First Fidelity Bank, National Association, Pennsylvania
GeneralFDIC Certificate #: 7436
Status: Inactive
Closing history: Change NONGEOFLDOFF from Default
Acquiring institution: Wachovia Bank, National Association (#33869)
Federal Reserve ID: 355214
Date Established: January 01, 1814
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 199 (Interstate: No)
FDIC's unique #: 4840
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: January 11, 1994
Last Structure Change Process Date: January 12, 1994
Last Data Update: January 12, 1994
Data Source Date: April 05, 2012
LocationAddress: 175 West Broadway, Salem, NJ 8079
County: Salem
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): 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: Wilmington, DE-MD-NJ (#48864)
History of ChangesConsolidated - Without Assistance
Corrections
Change NONGEOFLDOFF from Default
Financial SummaryTotal assets: $9,376.6 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$3,995
Cash and due from depository institutions$9,376,624
Interest-bearing balances$1,009,319
Securities$492,390
Federal funds sold & reverse repurchase agreements$1,704,281
Net loans & leases$114,000
Loan loss allowance $6,095,884
Trading account assets$194,705
Bank premises and fixed assets$0
Other real estate owned$128,967
Goodwill and other intangibles$40,079
All other assets$19,925
Life insurance assets$264,169
Total liabilities and capital$0
Total liabilities$9,376,624
Total deposits$8,478,871
Interest-bearing deposits$7,183,704
Deposits held in domestic offices$5,910,230
% insured (estimated)6977995.00%
Federal funds purchased & repurchase agreements $87
Trading liabilities$950,776
Other borrowed funds $0
Subordinated debt $4,439
All other liabilities $75,000
Total equity capital$264,952
Total bank equity capital$264,952
Perpetual preferred stock$897,753
Common stock$0
Surplus$141,434
Undivided profits $258,288
Memoranda
Noncurrent loans and leases $498,031
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $152,972
Earning assets $35,256
Long-term assets (5+ years) $8,406,555
Average Assets, year-to-date $2,369,376
Average Assets, quarterly $9,899,385
Volatile liabilities $9,520,834
Insider loans $1,345,554
FHLB advances $120,886
Loans and leases held for sale $0
Unused loan commitments $2,114
Tier 1 (core) risk-based capital $933,041
Tier 2 risk-based capital $0
Total risk weighted assets $866,835
Total unused commitments $6,516,903
Restructured Loans and leases $0
Derivatives$3,841,936
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $668,186
Net interest income $214,262
Provision for loan and lease losses $453,924
Total noninterest income $28,024
Fiduciary activities $119,910
Service charges on deposit accounts $42,246
Trading account gains & fees $39,785
Additional noninterest income $1,304
Total noninterest expense $36,575
Salaries and employee benefits $326,650
Premises and equipment expense $140,148
Additional noninterest expense $41,983
Pre-tax net operating income $144,519
Securities gains (losses) $219,160
Applicable income taxes $724
Income before extraordinary items $66,578
Extraordinary gains - net $153,306
Net income attributable to bank $8,407
Net charge-offs $161,713
Cash dividends $69,967
Sale, conversion, retirement of capital stock, net $141,200
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 7.48%
Net interest margin 2.40%
Noninterest income to earning assets 5.08%
Noninterest expense to earning assets 1.34%
Net operating income to assets 3.66%
Return on assets (ROA) 1.54%
Pretax return on assets 1.63%
Return on equity (ROE) 2.31%
Retained earnings to average equity (YTD only) 18.39%
Net charge-offs to loans 2.33%
Credit loss provision to net charge-offs 1.11%
Efficiency ratio40.05%
Assets per employee$56,436
Cash dividends to net income (YTD only)2.35%
Condition Ratios (%)
Loss allowance to loans 87.32%
Loss allowance to noncurrent loans 3.10%
Noncurrent assets plus other real estate owned to assets 127.28%
Noncurrent loans to loans 2.06%
Net loans and leases to deposits2.43%
Net loans and leases to core deposits 84.86%
Equity capital to assets 89.78%
Core capital (leverage) ratio 9.57%
Tier 1 risk-based capital ratio 9.16%
Total risk-based capital ratio 13.30%
Memoranda
Average assets$16
Average earning assets$9,899,385
Average equity $879,276
Average loans $8,934,678
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