FDIC Certificate #: 31118 Status: Inactive Federal Reserve ID: 624675 Date Established: January 01, 1868 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Interstate: No) OTS Docket #: 6410 FDIC's unique #: 43952 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: June 13, 1960 Last Structure Change Effective Date: December 29, 2011 Last Structure Change Process Date: January 09, 2012 Last Data Update: January 09, 2012 Data Source Date: April 05, 2012
Location
Address: Raritan Plaza I, 9th Floor, Edison, NJ 8837 County: Middlesex 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): Middlesex-Somerset-Hunterdon, NJ (#5015) 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: Edison-New Brunswick, NJ (#20764)
History of Changes
Other Liquidations and Closings
Change in Insurance Status
Financial Summary
Total assets: $4.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
5Total employees (full-time equivalent)
$41,753Total assets
$15,024Cash and due from depository institutions
$14,893Interest-bearing balances
$25,791Securities
$0Federal funds sold & reverse repurchase agreements
$540Net loans & leases
$66Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$398All other assets
$41,753Total liabilities and capital
$32,461Total liabilities
$32,310Total deposits
$5Interest-bearing deposits
$32,310Deposits held in domestic offices
30.79%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$151All other liabilities
$9,292Total equity capital
$9,292Total bank equity capital
$9,292Perpetual preferred stock
$0Common stock
$1Surplus
$999Undivided profits
Memoranda
$8,292Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$21Earning assets
$0Long-term assets (5+ years)
$113Average Assets, year-to-date
$41,224Average Assets, quarterly
$0Volatile liabilities
$42,570Insider loans
$42,119FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$66Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$706Total interest income
$0Total interest expense
$706Net interest income
$96Provision for loan and lease losses
$2,856Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$2,856Additional noninterest income
$2,798Total noninterest expense
$357Salaries and employee benefits
$468Premises and equipment expense
$1,973Additional noninterest expense
$668Pre-tax net operating income
$10Securities gains (losses)
$267Applicable income taxes
$411Income before extraordinary items
$0Extraordinary gains - net
$411Net income attributable to bank
$0Net charge-offs
$411Cash dividends
$52Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
1.70%Yield on earning assets
0.00%Cost of funding earning assets
1.70%Net interest margin
6.89%Noninterest income to earning assets
6.75%Noninterest expense to earning assets
0.95%Net operating income to assets
0.97%Return on assets (ROA)
1.59%Pretax return on assets
4.52%Return on equity (ROE)
4.52%Retained earnings to average equity (YTD only)
3.19%Net charge-offs to loans
184.62%Credit loss provision to net charge-offs
14.69%Efficiency ratio
78,551Assets per employee
8.35%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
10.89%Loss allowance to noncurrent loans
314.29%Noncurrent assets plus other real estate owned to assets
0.05%Noncurrent loans to loans
3.47%Net loans and leases to deposits
1.67%Net loans and leases to core deposits
1.67%Equity capital to assets
22.25%Core capital (leverage) ratio
22.18%Tier 1 risk-based capital ratio
125.65%Total risk-based capital ratio
Memoranda
$127Average assets
$42,570Average earning assets
$9,097Average equity
$41,457Average loans
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