FDIC Certificate #: 30213 Status: Inactive Closing history: Corrections Acquiring institution:The Provident Bank (#12010) Federal Reserve ID: 756473 Date Established: October 01, 1942 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 4964 FDIC's unique #: 43047 Numeric code: 33 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: November 19, 1942 Last Structure Change Effective Date: December 23, 1998 Last Structure Change Process Date: March 08, 1999 Last Data Update: March 08, 1999 Data Source Date: April 05, 2012
Location
Address: 249 Kearny Ave, Kearny, NJ 7032 County: Hudson 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): Jersey City, NJ (#3640) 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
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $154.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
57Total employees (full-time equivalent)
$149,202Total assets
$1,972Cash and due from depository institutions
$1,046Interest-bearing balances
$38,809Securities
$900Federal funds sold & reverse repurchase agreements
$101,855Net loans & leases
$1,041Loan loss allowance
$0Trading account assets
$1,758Bank premises and fixed assets
$226Other real estate owned
$642Goodwill and other intangibles
$0Life insurance assets
$3,040All other assets
$149,202Total liabilities and capital
$136,772Total liabilities
$136,287Total deposits
$132,969Interest-bearing deposits
$136,287Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$485All other liabilities
$12,430Total equity capital
$12,430Total bank equity capital
$12,430Perpetual preferred stock
$3,150Common stock
$2Surplus
$5,190Undivided profits
Memoranda
$4,088Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$811Earning assets
$0Long-term assets (5+ years)
$667Average Assets, year-to-date
$142,610Average Assets, quarterly
$0Volatile liabilities
$153,864Insider loans
$148,328FHLB advances
$10,807Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$19,214Total unused commitments
$0Restructured Loans and leases
$95,635Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$11,742Total interest income
$6,532Total interest expense
$5,210Net interest income
-$54Provision for loan and lease losses
$706Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$706Additional noninterest income
$4,969Total noninterest expense
$2,025Salaries and employee benefits
$1,154Premises and equipment expense
$1,790Additional noninterest expense
$1,001Pre-tax net operating income
$70Securities gains (losses)
$406Applicable income taxes
$665Income before extraordinary items
$0Extraordinary gains - net
$665Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$8Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.95%Yield on earning assets
4.42%Cost of funding earning assets
3.53%Net interest margin
0.48%Noninterest income to earning assets
3.36%Noninterest expense to earning assets
0.40%Net operating income to assets
0.43%Return on assets (ROA)
0.70%Pretax return on assets
5.61%Return on equity (ROE)
5.61%Retained earnings to average equity (YTD only)
0.01%Net charge-offs to loans
-675.00%Credit loss provision to net charge-offs
118.38%Efficiency ratio
82,437Assets per employee
2.62%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.01%Loss allowance to noncurrent loans
128.36%Noncurrent assets plus other real estate owned to assets
0.70%Noncurrent loans to loans
0.79%Net loans and leases to deposits
74.74%Net loans and leases to core deposits
81.17%Equity capital to assets
8.33%Core capital (leverage) ratio
7.90%Tier 1 risk-based capital ratio
12.27%Total risk-based capital ratio
Memoranda
$13Average assets
$153,864Average earning assets
$11,858Average equity
$147,680Average loans
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