First Southern State Bank in city_name, state_name - Detailed Financial Reports, Location

First Southern State Bank in Avalon Borough, New Jersey (NJ)
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First Southern State Bank - Overview

General
FDIC Certificate #: 33189
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Covenant Bank (#27339)
Federal Reserve ID: 1496011
Date Established: November 16, 1990
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 46426
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: November 16, 1990
Last Structure Change Effective Date: September 27, 1996
Last Structure Change Process Date: October 31, 1996
Last Data Update: October 31, 1996
Data Source Date: April 05, 2012
Location
Address: 2539 Ocean Drive, Avalon Borough, NJ 8202
County: Cape May
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): Atlantic-Cape May, NJ (#560)
Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
Core Based Statistical Area (CBSA): Ocean City, NJ (#36140)
CBSA Metro Statistical Area: Ocean City, NJ (#36140)
Financial Summary
Total assets: $47.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$22Total assets
$43,862Cash and due from depository institutions
$2,233Interest-bearing balances
$0Securities
$10,230Federal funds sold & reverse repurchase agreements
$5,589Net loans & leases
$24,135Loan loss allowance
$347Trading account assets
$0Bank premises and fixed assets
$1,158Other real estate owned
$20Goodwill and other intangibles
$497Life insurance assets
$0All other assets
$0Total liabilities and capital
$43,862Total liabilities
$39,308Total deposits
$39,142Interest-bearing deposits
$32,427Deposits held in domestic offices
39142.00%% insured (estimated)
$82Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$166Total equity capital
$166Total bank equity capital
$4,554Perpetual preferred stock
$0Common stock
$2,500Surplus
$2,500Undivided profits
Memoranda
$-446Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$187Income earned, not collected on loans
$186Earning assets
$39,954Long-term assets (5+ years)
$2,762Average Assets, year-to-date
$39,027Average Assets, quarterly
$45,210Volatile liabilities
$5,809Insider loans
$625FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$4,494Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,554Total risk weighted assets
$27,400Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$3,002Total interest expense
$1,182Net interest income
$1,820Provision for loan and lease losses
$89Total noninterest income
$80Fiduciary activities
$0Service charges on deposit accounts
$72Trading account gains & fees
$0Additional noninterest income
$8Total noninterest expense
$1,478Salaries and employee benefits
$787Premises and equipment expense
$199Additional noninterest expense
$492Pre-tax net operating income
$333Securities gains (losses)
$0Applicable income taxes
$43Income before extraordinary items
$290Extraordinary gains - net
$0Net income attributable to bank
$290Net charge-offs
$114Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.49%Cost of funding earning assets
3.34%Net interest margin
5.15%Noninterest income to earning assets
0.23%Noninterest expense to earning assets
4.18%Net operating income to assets
0.74%Return on assets (ROA)
0.74%Pretax return on assets
0.85%Return on equity (ROE)
6.63%Retained earnings to average equity (YTD only)
6.63%Net charge-offs to loans
0.52%Credit loss provision to net charge-offs
78.07%Efficiency ratio
75,684Assets per employee
1.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.42%Loss allowance to noncurrent loans
185.56%Noncurrent assets plus other real estate owned to assets
0.47%Noncurrent loans to loans
0.76%Net loans and leases to deposits
61.66%Net loans and leases to core deposits
72.41%Equity capital to assets
10.38%Core capital (leverage) ratio
10.12%Tier 1 risk-based capital ratio
16.62%Total risk-based capital ratio
Memoranda
$18Average assets
$39,027Average earning assets
$4,374Average equity
$35,342Average loans

First Southern State Bank in Avalon Borough, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Southern State Bank - Overview

Assets and Liabilities (December 31, 1995)

Income and Expense (December 31, 1995)

Performance and Condition Ratios (December 31, 1995)

Comment about this bank, ask questions, or add new information about it:

First Southern State Bank in Avalon Borough, New Jersey (NJ)Overview, Financial Summary, Detailed Financial Reports, Branches

First Southern State Bank - Overview

Assets and Liabilities (December 31, 1995)

Income and Expense (December 31, 1995)

Performance and Condition Ratios (December 31, 1995)

Comment about this bank, ask questions, or add new information about it:

First Southern State Bank in Avalon Borough, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches