Modern Bank, National Association in New York, New York (NY), FL
Overview, Financial Summary, Detailed Financial Reports, Branches

Modern Bank, National Association - Overview

  • General
  • FDIC Certificate #: 22398
    Status: Active
    Federal Reserve ID: 2398701
    Bank Holding Company (Regulatory Top Holder): Modern Bank Management Llc (RSSDID: 3720000, Location: New York, NY)
    Date Established: January 01, 1977
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Domestic: 3, Interstate: Yes)
    FDIC's unique #: 15599
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: Yes
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1977
    Last Structure Change Effective Date: May 30, 2008
    Last Structure Change Process Date: October 04, 2010
    Last Data Update: October 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 667 Madison Avenue, New York, NY 10065
    County: New York
    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
  • Corrections
  • Financial Summary
  • Total assets: $614.3 mil
    Equity capital: $58.3 mil
    Deposits held in domestic offices: $497.7 mil
    Return on assets (ROA): 0.40% ($2.5 mil)
    Quarterly return on assets: 0.26% ($1.6 mil)
    Return on Equity (ROE): 4.13% ($2.4 mil)
    Quarterly return on equity: 2.68% ($1.6 mil)
    Net income: $2.3 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.26% ($1,597.2 mil)
    Quarterly Pretax return on assets: -0.28% (-$1,720.1 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, 2011)

  • Dollar figures in thousands
  • 48Total employees (full-time equivalent)
  • $614,311Total assets
  • $19,025Cash and due from depository institutions
  • $14,123Interest-bearing balances
  • $266,901Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $309,075Net loans & leases
  • $5,986Loan loss allowance
  • $2Trading account assets
  • $176Bank premises and fixed assets
  • $6,626Other real estate owned
  • $3,894Goodwill and other intangibles
  • $614,311Life insurance assets
  • $8,612All other assets
  • $555,993Total liabilities and capital
  • $498,136Total liabilities
  • $478,300Total deposits
  • $497,726Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 40000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $17,857Subordinated debt
  • $58,318All other liabilities
  • $58,318Total equity capital
  • $58,318Total bank equity capital
  • $8,489Perpetual preferred stock
  • $801Common stock
  • $78,941Surplus
  • $-29,913Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,342Income earned, not collected on loans
  • $0Earning assets
  • $1,895Long-term assets (5+ years)
  • $590,101Average Assets, year-to-date
  • $159,360Average Assets, quarterly
  • $577,138Volatile liabilities
  • $603,659Insider loans
  • $359,114FHLB advances
  • $596,230Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $54,990Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $27,184Restructured Loans and leases
  • $3,300Derivatives
  • $649Total assets and liabilities in foreign offices

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $19,707Total interest income
  • $4,759Total interest expense
  • $14,948Net interest income
  • $298Provision for loan and lease losses
  • $623Total noninterest income
  • $0Fiduciary activities
  • $28Service charges on deposit accounts
  • -$54Trading account gains & fees
  • $649Additional noninterest income
  • $14,366Total noninterest expense
  • $8,194Salaries and employee benefits
  • $1,746Premises and equipment expense
  • $4,426Additional noninterest expense
  • $907Pre-tax net operating income
  • $607Securities gains (losses)
  • -$769Applicable income taxes
  • $2,283Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,283Net income attributable to bank
  • $0Net charge-offs
  • $2,283Cash dividends
  • $11Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.53%Yield on earning assets
  • 0.85%Cost of funding earning assets
  • 2.68%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 2.58%Noninterest expense to earning assets
  • 0.29%Net operating income to assets
  • 0.40%Return on assets (ROA)
  • 0.26%Pretax return on assets
  • 4.13%Return on equity (ROE)
  • 4.13%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 2709.09%Credit loss provision to net charge-offs
  • 109.55%Efficiency ratio
  • 90,675Assets per employee
  • 12.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.90%Loss allowance to noncurrent loans
  • 179.11%Noncurrent assets plus other real estate owned to assets
  • 1.64%Noncurrent loans to loans
  • 1.06%Net loans and leases to deposits
  • 62.05%Net loans and leases to core deposits
  • 85.24%Equity capital to assets
  • 9.49%Core capital (leverage) ratio
  • 9.22%Tier 1 risk-based capital ratio
  • 15.31%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $577,138Average earning assets
  • $55,280Average equity
  • $557,483Average loans

List of branches

  • 1 Florida Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    9357380Miami Adminstrative Branch1428 Brickell Avenue Suite 500, Miami, FL 33131Febuary 12, 1999Limited Service Administrative
  • 2 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015599Modern Bank, National Association667 Madison Avenue, New York, NY 10065January 01, 1977Full Service Brick and Mortar
    11475474Messenger Service667 Madison Avenue, New York, NY 10065April 01, 2008Limited Service Messenger

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