Gloversville Federal Savings and Loan Association in Gloversville, New York (NY)

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Gloversville Federal Savings and Loan Association
GeneralFDIC Certificate #: 28214
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: City National Bank and Trust Company (#7075)
Federal Reserve ID: 689571
Date Established: January 01, 1923
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 1150
FDIC's unique #: 41048
Numeric code: 37
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: October 31, 1934
Last Structure Change Effective Date: June 01, 1999
Last Structure Change Process Date: June 18, 1999
Last Data Update: June 18, 1999
Data Source Date: April 05, 2012
LocationAddress: 52 North Main St, Gloversville, NY 12078
County: Fulton
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Syracuse
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Albany-Schenectady-Amsterdam, NY (#104)
Core Based Statistical Area (CBSA): Gloversville, NY (#24100)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $66.5 mil

1992 - 1999 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, 1998)
(Dollar figures in thousands)
Total employees (full-time equivalent)25
Total assets$68,732
Cash and due from depository institutions$3,737
Interest-bearing balances$1,598
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$50,035
Loan loss allowance $1,118
Trading account assets$0
Bank premises and fixed assets$1,204
Other real estate owned$551
Goodwill and other intangibles$0
All other assets$1,021
Life insurance assets$0
Total liabilities and capital$68,732
Total liabilities$61,553
Total deposits$56,377
Interest-bearing deposits$55,983
Deposits held in domestic offices$56,377
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $4,939
Subordinated debt $0
All other liabilities $237
Total equity capital$7,179
Total bank equity capital$7,179
Perpetual preferred stock$7,179
Common stock$0
Undivided profits $4,025
Noncurrent loans and leases $3,153
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $1,022
Long-term assets (5+ years) $0
Average Assets, year-to-date $195
Average Assets, quarterly $63,817
Volatile liabilities $0
Insider loans $68,290
FHLB advances $67,695
Loans and leases held for sale $10,408
Unused loan commitments $387
Tier 1 (core) risk-based capital $4,463
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $2,467
Restructured Loans and leases $0
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $5,020
Total interest expense $2,549
Net interest income $2,471
Provision for loan and lease losses $109
Total noninterest income $222
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $222
Total noninterest expense $2,176
Salaries and employee benefits $1,114
Premises and equipment expense $401
Additional noninterest expense $661
Pre-tax net operating income $408
Securities gains (losses) $0
Applicable income taxes $125
Income before extraordinary items $283
Extraordinary gains - net $0
Net income attributable to bank $283
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $515
Net operating income $24
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.82%
Cost of funding earning assets 3.97%
Net interest margin 3.85%
Noninterest income to earning assets 0.35%
Noninterest expense to earning assets 3.39%
Net operating income to assets 0.41%
Return on assets (ROA) 0.41%
Pretax return on assets 0.60%
Return on equity (ROE) 4.74%
Retained earnings to average equity (YTD only) 4.33%
Net charge-offs to loans 1.01%
Credit loss provision to net charge-offs 21.17%
Efficiency ratio1.00%
Assets per employee$80,802
Cash dividends to net income (YTD only)2.75%
Condition Ratios (%)
Loss allowance to loans 8.48%
Loss allowance to noncurrent loans 2.19%
Noncurrent assets plus other real estate owned to assets 109.39%
Noncurrent loans to loans 2.29%
Net loans and leases to deposits2.00%
Net loans and leases to core deposits 88.75%
Equity capital to assets 98.29%
Core capital (leverage) ratio 10.44%
Tier 1 risk-based capital ratio 10.44%
Total risk-based capital ratio 18.74%
Average assets$20
Average earning assets$68,290
Average equity $5,976
Average loans $64,191
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