MoreBank in Philadelphia, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 2010

  • MoreBank in Philadelphia, Pennsylvania (PA)
  • Show street view No street view available for this location

MoreBank - Overview

  • General
  • FDIC Certificate #: 57871
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The Bank of Princeton (#58513)
    Federal Reserve ID: 3427765
    Date Established: March 01, 2006
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Interstate: No)
    FDIC's unique #: 428630
    Numeric code: 21
    Regulator: FDIC
    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: March 01, 2006
    Last Structure Change Effective Date: September 30, 2010
    Last Structure Change Process Date: November 04, 2010
    Last Data Update: November 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 470 West Cheltenham Avenue, Philadelphia, PA 19126
    County: Philadelphia
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Philadelphia
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Philadelphia, PA-NJ (#6160)
    Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
    Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
    Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    Core Based Statistical Division: Philadelphia, PA (#37964)
  • Financial Summary
  • Total assets: $72.4 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, 2009)

  • Dollar figures in thousands
  • 28Total employees (full-time equivalent)
  • $69,750Total assets
  • $3,840Cash and due from depository institutions
  • $1,620Interest-bearing balances
  • $14,614Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $49,214Net loans & leases
  • $719Loan loss allowance
  • $0Trading account assets
  • $919Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,163All other assets
  • $69,750Total liabilities and capital
  • $65,174Total liabilities
  • $59,520Total deposits
  • $52,253Interest-bearing deposits
  • $59,520Deposits held in domestic offices
  • 96.64%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $5,492Other borrowed funds
  • $0Subordinated debt
  • $162All other liabilities
  • $4,576Total equity capital
  • $4,576Total bank equity capital
  • $4,576Perpetual preferred stock
  • $0Common stock
  • $1,141Surplus
  • $9,966Undivided profits
  • Memoranda
  • $-6,531Noncurrent loans and leases
  • $4,514Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $940Earning assets
  • $0Long-term assets (5+ years)
  • $359Average Assets, year-to-date
  • $65,448Average Assets, quarterly
  • $13,629Volatile liabilities
  • $59,670Insider loans
  • $69,795FHLB advances
  • $14,692Loans and leases held for sale
  • $1,372Unused loan commitments
  • $5,492Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,514Total unused commitments
  • $0Restructured Loans and leases
  • $630Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $3,213Total interest income
  • $1,382Total interest expense
  • $1,831Net interest income
  • $378Provision for loan and lease losses
  • $243Total noninterest income
  • $0Fiduciary activities
  • $143Service charges on deposit accounts
  • $0Trading account gains & fees
  • $100Additional noninterest income
  • $3,226Total noninterest expense
  • $1,697Salaries and employee benefits
  • $590Premises and equipment expense
  • $939Additional noninterest expense
  • -$1,530Pre-tax net operating income
  • $157Securities gains (losses)
  • $0Applicable income taxes
  • -$1,373Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,373Net income attributable to bank
  • $0Net charge-offs
  • -$1,373Cash dividends
  • $124Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.93%Yield on earning assets
  • 2.55%Cost of funding earning assets
  • 3.38%Net interest margin
  • 0.45%Noninterest income to earning assets
  • 5.95%Noninterest expense to earning assets
  • -2.56%Net operating income to assets
  • -2.30%Return on assets (ROA)
  • -2.30%Pretax return on assets
  • -28.14%Return on equity (ROE)
  • -28.14%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 304.84%Credit loss provision to net charge-offs
  • -9.29%Efficiency ratio
  • 155,545Assets per employee
  • 2.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.44%Loss allowance to noncurrent loans
  • 76.49%Noncurrent assets plus other real estate owned to assets
  • 1.35%Noncurrent loans to loans
  • 1.88%Net loans and leases to deposits
  • 82.68%Net loans and leases to core deposits
  • 108.83%Equity capital to assets
  • 6.56%Core capital (leverage) ratio
  • 6.61%Tier 1 risk-based capital ratio
  • 9.32%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $59,670Average earning assets
  • $4,879Average equity
  • $54,201Average loans

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