Iron and Glass Bank in Pittsburgh, Pennsylvania (PA)



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Iron and Glass Bank
GeneralFDIC Certificate #: 9891
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First National Bank of Pennsylvania (#7888)
Federal Reserve ID: 38526
Date Established: March 01, 1871
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 8 (Interstate: No)
OTS Docket #: 8846
FDIC's unique #: 6328
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: August 15, 2008
Last Structure Change Process Date: September 10, 2008
Last Data Update: September 10, 2008
Data Source Date: April 05, 2012
LocationAddress: 1114 Carson Street, Pittsburgh, PA 15203
County: Allegheny
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Wexford
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Pittsburgh, PA (#6280)
Combined Statistical Area (CSA): Pittsburgh-New Castle, PA (#430)
Core Based Statistical Area (CBSA): Pittsburgh, PA (#38300)
CBSA Metro Statistical Area: Pittsburgh, PA (#38300)
Financial SummaryTotal assets: $305.3 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)90
Total assets$302,291
Cash and due from depository institutions$6,594
Interest-bearing balances$81
Securities$118,777
Federal funds sold & reverse repurchase agreements$4,522
Net loans & leases$164,159
Loan loss allowance $1,850
Trading account assets$0
Bank premises and fixed assets$1,301
Other real estate owned$613
Goodwill and other intangibles$704
All other assets$5,621
Life insurance assets$3,025
Total liabilities and capital$302,291
Total liabilities$263,520
Total deposits$251,351
Interest-bearing deposits$214,025
Deposits held in domestic offices$251,351
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $8,719
Subordinated debt $0
All other liabilities $3,450
Total equity capital$38,771
Total bank equity capital$38,771
Perpetual preferred stock$38,771
Common stock$0
Surplus$600
Undivided profits $2,600
Memoranda
Noncurrent loans and leases $35,571
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $33,140
Income earned, not collected on loans $0
Earning assets $1,307
Long-term assets (5+ years) $0
Average Assets, year-to-date $685
Average Assets, quarterly $287,539
Volatile liabilities $133,810
Insider loans $300,130
FHLB advances $301,327
Loans and leases held for sale $43,722
Unused loan commitments $1,447
Tier 1 (core) risk-based capital $8,000
Tier 2 risk-based capital $0
Total risk weighted assets $564
Total unused commitments $33,140
Restructured Loans and leases $0
Derivatives$1,850
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $18,155
Total interest expense $7,665
Net interest income $10,490
Provision for loan and lease losses $25
Total noninterest income $1,386
Fiduciary activities $0
Service charges on deposit accounts $1,104
Trading account gains & fees $0
Additional noninterest income $282
Total noninterest expense $6,868
Salaries and employee benefits $3,589
Premises and equipment expense $995
Additional noninterest expense $2,284
Pre-tax net operating income $4,983
Securities gains (losses) $0
Applicable income taxes $1,377
Income before extraordinary items $3,606
Extraordinary gains - net $0
Net income attributable to bank $3,606
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$59
Net operating income $1,352
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.35%
Cost of funding earning assets 2.68%
Net interest margin 3.67%
Noninterest income to earning assets 0.49%
Noninterest expense to earning assets 2.40%
Net operating income to assets 1.20%
Return on assets (ROA) 1.20%
Pretax return on assets 1.66%
Return on equity (ROE) 9.67%
Retained earnings to average equity (YTD only) 6.04%
Net charge-offs to loans -0.04%
Credit loss provision to net charge-offs -42.37%
Efficiency ratio0.00%
Assets per employee$57,376
Cash dividends to net income (YTD only)3.36%
Condition Ratios (%)
Loss allowance to loans 37.49%
Loss allowance to noncurrent loans 1.11%
Noncurrent assets plus other real estate owned to assets 141.55%
Noncurrent loans to loans 0.64%
Net loans and leases to deposits0.79%
Net loans and leases to core deposits 65.31%
Equity capital to assets 79.06%
Core capital (leverage) ratio 12.83%
Tier 1 risk-based capital ratio 12.72%
Total risk-based capital ratio 17.77%
Memoranda
Average assets$19
Average earning assets$300,130
Average equity $37,290
Average loans $285,730
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