New Century Bank in Chicago, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 23, 2010

  • New Century Bank in Chicago, Illinois (IL)
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New Century Bank - Overview

  • General
  • FDIC Certificate #: 34821
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: MB Financial Bank, National Association (#3628)
    Federal Reserve ID: 2713461
    Date Established: January 11, 1999
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Interstate: No)
    FDIC's unique #: 61732
    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: January 11, 1999
    Last Structure Change Effective Date: April 23, 2010
    Last Structure Change Process Date: April 27, 2010
    Last Data Update: April 27, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 363 West Ontario Street, Chicago, IL 60610
    County: Cook
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Chicago
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Chicago, IL (#1600)
    Consolidated Metropolitan Statistical Area (CMSA): Chicago-Gary-Kenosha, IL-IN-WI (#14)
    Combined Statistical Area (CSA): Chicago-Naperville-Michigan City, IL-IN-WI (#176)
    Core Based Statistical Area (CBSA): Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    CBSA Metro Statistical Area: Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    Core Based Statistical Division: Chicago-Joliet-Naperville, IL (#16974)
  • History of Changes
  • Absorption - Assisted
  • Financial Summary
  • Total assets: $447.2 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
  • 70Total employees (full-time equivalent)
  • $509,694Total assets
  • $59,117Cash and due from depository institutions
  • $592Interest-bearing balances
  • $20,907Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $400,388Net loans & leases
  • $24,063Loan loss allowance
  • $0Trading account assets
  • $7,820Bank premises and fixed assets
  • $15,998Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $5,464All other assets
  • $509,694Total liabilities and capital
  • $496,338Total liabilities
  • $492,046Total deposits
  • $446,131Interest-bearing deposits
  • $492,046Deposits held in domestic offices
  • 92.02%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $4,292All other liabilities
  • $13,356Total equity capital
  • $13,356Total bank equity capital
  • $13,356Perpetual preferred stock
  • $0Common stock
  • $5,000Surplus
  • $31,000Undivided profits
  • Memoranda
  • $-22,644Noncurrent loans and leases
  • $27,380Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $103,570Earning assets
  • $0Long-term assets (5+ years)
  • $1,962Average Assets, year-to-date
  • $421,887Average Assets, quarterly
  • $17,033Volatile liabilities
  • $494,641Insider loans
  • $499,220FHLB advances
  • $147,974Loans and leases held for sale
  • $3,427Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $2,100Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $27,380Total unused commitments
  • $10,090Restructured Loans and leases
  • $5,297Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $22,595Total interest income
  • $10,673Total interest expense
  • $11,922Net interest income
  • $10,000Provision for loan and lease losses
  • $1,304Total noninterest income
  • $0Fiduciary activities
  • $914Service charges on deposit accounts
  • $0Trading account gains & fees
  • $390Additional noninterest income
  • $16,025Total noninterest expense
  • $7,069Salaries and employee benefits
  • $2,404Premises and equipment expense
  • $6,552Additional noninterest expense
  • -$12,799Pre-tax net operating income
  • -$12Securities gains (losses)
  • -$503Applicable income taxes
  • -$12,308Income before extraordinary items
  • $0Extraordinary gains - net
  • -$12,308Net income attributable to bank
  • $0Net charge-offs
  • -$12,308Cash dividends
  • $2,518Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.21%Yield on earning assets
  • 2.46%Cost of funding earning assets
  • 2.75%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 3.70%Noninterest expense to earning assets
  • -2.49%Net operating income to assets
  • -2.49%Return on assets (ROA)
  • -2.59%Pretax return on assets
  • -47.40%Return on equity (ROE)
  • -47.40%Retained earnings to average equity (YTD only)
  • 0.57%Net charge-offs to loans
  • 397.14%Credit loss provision to net charge-offs
  • -1.11%Efficiency ratio
  • 121,163Assets per employee
  • 7.28%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.67%Loss allowance to noncurrent loans
  • 23.23%Noncurrent assets plus other real estate owned to assets
  • 23.46%Noncurrent loans to loans
  • 24.40%Net loans and leases to deposits
  • 81.37%Net loans and leases to core deposits
  • 116.37%Equity capital to assets
  • 2.62%Core capital (leverage) ratio
  • 2.70%Tier 1 risk-based capital ratio
  • 3.34%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $494,641Average earning assets
  • $25,965Average equity
  • $433,562Average loans

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