National Westminster Bank USA in Jersey City, New Jersey (NJ)



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National Westminster Bank USA
GeneralFDIC Certificate #: 7063
Status: Inactive
Closing history: Change NONGEOFLDOFF from Default
Acquiring institution: Fleet Bank, National Association (#6357)
Federal Reserve ID: 193304
Date Established: June 12, 1905
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 146 (Interstate: No)
FDIC's unique #: 4710
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 01, 1995
Last Structure Change Process Date: January 13, 1995
Last Data Update: January 13, 1995
Data Source Date: April 05, 2012
LocationAddress: 10 Exchange Place, Jersey City, NJ 7302
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 ChangesMerger - Without Assistance
Corrections
Change NONGEOFLDOFF from Default
Financial SummaryTotal assets: $16,661.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$3,741
Cash and due from depository institutions$16,661,593
Interest-bearing balances$1,601,117
Securities$755,187
Federal funds sold & reverse repurchase agreements$2,492,219
Net loans & leases$1,866,113
Loan loss allowance $8,878,280
Trading account assets$171,070
Bank premises and fixed assets$802,028
Other real estate owned$248,102
Goodwill and other intangibles$56,468
All other assets$31,399
Life insurance assets$685,867
Total liabilities and capital$0
Total liabilities$16,661,593
Total deposits$15,504,590
Interest-bearing deposits$12,001,881
Deposits held in domestic offices$9,244,635
% insured (estimated)9530284.00%
Federal funds purchased & repurchase agreements $71
Trading liabilities$2,091,082
Other borrowed funds $581,560
Subordinated debt $50,000
All other liabilities $325,000
Total equity capital$455,067
Total bank equity capital$455,067
Perpetual preferred stock$1,157,003
Common stock$0
Surplus$38,376
Undivided profits $930,657
Memoranda
Noncurrent loans and leases $187,970
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $181,796
Earning assets $61,718
Long-term assets (5+ years) $14,737,491
Average Assets, year-to-date $630,592
Average Assets, quarterly $17,404,158
Volatile liabilities $16,981,101
Insider loans $6,224,182
FHLB advances $2,408
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $6,474,721
Tier 2 risk-based capital $0
Total risk weighted assets $1,162,360
Total unused commitments $11,985,278
Restructured Loans and leases $0
Derivatives$62,888,068
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $1,129,932
Net interest income $497,633
Provision for loan and lease losses $632,299
Total noninterest income $65,967
Fiduciary activities $286,505
Service charges on deposit accounts $1,011
Trading account gains & fees $75,700
Additional noninterest income $16,208
Total noninterest expense $193,586
Salaries and employee benefits $546,851
Premises and equipment expense $232,956
Additional noninterest expense $69,480
Pre-tax net operating income $244,415
Securities gains (losses) $305,986
Applicable income taxes $1,333
Income before extraordinary items $73,956
Extraordinary gains - net $233,363
Net income attributable to bank $0
Net charge-offs $233,363
Cash dividends $178,720
Sale, conversion, retirement of capital stock, net $240,000
Net operating income $0
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Performance and Condition Ratios (December 31, 1994)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.19%
Net interest margin 3.17%
Noninterest income to earning assets 4.02%
Noninterest expense to earning assets 1.82%
Net operating income to assets 3.48%
Return on assets (ROA) 1.34%
Pretax return on assets 1.34%
Return on equity (ROE) 1.77%
Retained earnings to average equity (YTD only) 19.52%
Net charge-offs to loans -0.56%
Credit loss provision to net charge-offs 1.86%
Efficiency ratio36.91%
Assets per employee$58,869
Cash dividends to net income (YTD only)4.45%
Condition Ratios (%)
Loss allowance to loans 102.84%
Loss allowance to noncurrent loans 1.89%
Noncurrent assets plus other real estate owned to assets 94.10%
Noncurrent loans to loans 1.43%
Net loans and leases to deposits2.01%
Net loans and leases to core deposits 73.97%
Equity capital to assets 105.15%
Core capital (leverage) ratio 6.94%
Tier 1 risk-based capital ratio 6.44%
Total risk-based capital ratio 9.70%
Memoranda
Average assets$14
Average earning assets$17,404,158
Average equity $1,195,302
Average loans $15,718,315
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