Ocean National Bank in Point Pleasant, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 11, 1993

  • Ocean National Bank in Point Pleasant, New Jersey (NJ)
  • Show street view No street view available for this location

Ocean National Bank - Overview

  • General
  • FDIC Certificate #: 6491
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Summit Bank (#8610)
    Federal Reserve ID: 831512
    Date Established: January 01, 1901
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 26 (Interstate: No)
    FDIC's unique #: 4339
    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: June 11, 1993
    Last Structure Change Process Date: July 15, 1993
    Last Data Update: September 09, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 2701 Lakewood Road, Point Pleasant, NJ 8742
    County: Ocean
    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): Monmouth-Ocean, NJ (#5190)
    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: Edison-New Brunswick, NJ (#20764)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $780.6 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $310Total assets
  • $796,679Cash and due from depository institutions
  • $40,176Interest-bearing balances
  • $0Securities
  • $221,340Federal funds sold & reverse repurchase agreements
  • $33,200Net loans & leases
  • $476,888Loan loss allowance
  • $14,455Trading account assets
  • $0Bank premises and fixed assets
  • $10,676Other real estate owned
  • $2,273Goodwill and other intangibles
  • $12,126Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $796,679Total liabilities
  • $746,592Total deposits
  • $734,310Interest-bearing deposits
  • $624,486Deposits held in domestic offices
  • 734310.00%% insured (estimated)
  • $88Federal funds purchased & repurchase agreements
  • $8,496Trading liabilities
  • $0Other borrowed funds
  • $350Subordinated debt
  • $0All other liabilities
  • $3,436Total equity capital
  • $3,436Total bank equity capital
  • $50,087Perpetual preferred stock
  • $0Common stock
  • $4,555Surplus
  • $11,110Undivided profits
  • Memoranda
  • $34,422Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $28,882Income earned, not collected on loans
  • $3,653Earning assets
  • $731,428Long-term assets (5+ years)
  • $86,138Average Assets, year-to-date
  • $766,294Average Assets, quarterly
  • $802,901Volatile liabilities
  • $29,265Insider loans
  • $56FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $62,776Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $50,087Total risk weighted assets
  • $539,375Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $56,451Total interest expense
  • $24,134Net interest income
  • $32,317Provision for loan and lease losses
  • $4,773Total noninterest income
  • $6,053Fiduciary activities
  • $0Service charges on deposit accounts
  • $4,482Trading account gains & fees
  • $0Additional noninterest income
  • $1,571Total noninterest expense
  • $25,362Salaries and employee benefits
  • $9,915Premises and equipment expense
  • $3,188Additional noninterest expense
  • $12,259Pre-tax net operating income
  • $8,235Securities gains (losses)
  • $109Applicable income taxes
  • $4,095Income before extraordinary items
  • $4,249Extraordinary gains - net
  • $0Net income attributable to bank
  • $4,249Net charge-offs
  • $4,641Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.99%Cost of funding earning assets
  • 3.42%Net interest margin
  • 4.57%Noninterest income to earning assets
  • 0.86%Noninterest expense to earning assets
  • 3.59%Net operating income to assets
  • 0.55%Return on assets (ROA)
  • 0.55%Pretax return on assets
  • 1.09%Return on equity (ROE)
  • 9.55%Retained earnings to average equity (YTD only)
  • 9.55%Net charge-offs to loans
  • 0.93%Credit loss provision to net charge-offs
  • 102.84%Efficiency ratio
  • 66,099Assets per employee
  • 2.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.94%Loss allowance to noncurrent loans
  • 50.05%Noncurrent assets plus other real estate owned to assets
  • 3.91%Noncurrent loans to loans
  • 5.88%Net loans and leases to deposits
  • 64.94%Net loans and leases to core deposits
  • 66.83%Equity capital to assets
  • 6.29%Core capital (leverage) ratio
  • 6.19%Tier 1 risk-based capital ratio
  • 9.29%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $766,294Average earning assets
  • $44,512Average equity
  • $706,413Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Ocean National Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents