FDIC Certificate #: 26748 Status: Inactive Closing history: Corrections Acquiring institution:Cathay Bank (#18503) Federal Reserve ID: 236818 Date Established: August 18, 1986 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 35864 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: August 18, 1986 Last Structure Change Effective Date: December 10, 1999 Last Structure Change Process Date: December 14, 1999 Last Data Update: December 14, 1999 Data Source Date: April 05, 2012
Location
Address: 40-14/16 Main Street, New York, NY 10044 County: Queens Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: New York City Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): New York, NY (#5600) 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: New York-White Plains-Wayne, NY-NJ (#35644)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $87.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
51Total employees (full-time equivalent)
$82,974Total assets
$2,055Cash and due from depository institutions
$4Interest-bearing balances
$20,186Securities
$24,770Federal funds sold & reverse repurchase agreements
$32,893Net loans & leases
$1,182Loan loss allowance
$0Trading account assets
$2,351Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$719All other assets
$82,974Total liabilities and capital
$76,796Total liabilities
$75,670Total deposits
$67,393Interest-bearing deposits
$75,670Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,126All other liabilities
$6,178Total equity capital
$6,178Total bank equity capital
$6,178Perpetual preferred stock
$0Common stock
$3,590Surplus
$4,210Undivided profits
Memoranda
$-1,622Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$677Earning assets
$0Long-term assets (5+ years)
$290Average Assets, year-to-date
$77,853Average Assets, quarterly
$4,915Volatile liabilities
$77,750Insider loans
$82,031FHLB advances
$2,776Loans and leases held for sale
$83Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,462Total unused commitments
$0Restructured Loans and leases
$39,793Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$5,507Total interest income
$2,058Total interest expense
$3,449Net interest income
$332Provision for loan and lease losses
$886Total noninterest income
$0Fiduciary activities
$144Service charges on deposit accounts
$0Trading account gains & fees
$742Additional noninterest income
$3,921Total noninterest expense
$2,077Salaries and employee benefits
$1,003Premises and equipment expense
$841Additional noninterest expense
$82Pre-tax net operating income
$0Securities gains (losses)
$149Applicable income taxes
-$67Income before extraordinary items
$0Extraordinary gains - net
-$67Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$575Sale, conversion, retirement of capital stock, net
$65Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.56%Yield on earning assets
2.83%Cost of funding earning assets
4.73%Net interest margin
1.22%Noninterest income to earning assets
5.38%Noninterest expense to earning assets
-0.09%Net operating income to assets
-0.09%Return on assets (ROA)
0.11%Pretax return on assets
-1.07%Return on equity (ROE)
-2.10%Retained earnings to average equity (YTD only)
1.61%Net charge-offs to loans
57.74%Credit loss provision to net charge-offs
0.72%Efficiency ratio
90,450Assets per employee
1.63%Cash dividends to net income (YTD only)
Condition Ratios (%)
-97.01%Loss allowance to loans
3.47%Loss allowance to noncurrent loans
174.59%Noncurrent assets plus other real estate owned to assets
0.82%Noncurrent loans to loans
1.99%Net loans and leases to deposits
43.47%Net loans and leases to core deposits
45.12%Equity capital to assets
7.45%Core capital (leverage) ratio
7.51%Tier 1 risk-based capital ratio
15.53%Total risk-based capital ratio
Memoranda
$17Average assets
$77,750Average earning assets
$6,283Average equity
$72,847Average loans
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