Old Forge Bank in Old Forge, Pennsylvania (PA)



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Old Forge Bank
GeneralFDIC Certificate #: 12291
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Penn Security Bank and Trust Company (#463)
Federal Reserve ID: 180416
Date Established: January 01, 1909
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 12098
FDIC's unique #: 7813
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 01, 1934
Last Structure Change Effective Date: April 01, 2009
Last Structure Change Process Date: May 19, 2009
Last Data Update: May 19, 2009
Data Source Date: April 05, 2012
LocationAddress: 216 South Main Street, Old Forge, PA 18518
County: Lackawanna
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): Scranton--Wilkes-Barre--Hazleton, PA (#7560)
Core Based Statistical Area (CBSA): Scranton-Wilkes-Barre, PA (#42540)
CBSA Metro Statistical Area: Scranton-Wilkes-Barre, PA (#42540)
Financial SummaryTotal assets: $214.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)60
Total assets$223,262
Cash and due from depository institutions$4,275
Interest-bearing balances$253
Securities$39,347
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$168,361
Loan loss allowance $1,428
Trading account assets$0
Bank premises and fixed assets$1,701
Other real estate owned$210
Goodwill and other intangibles$150
All other assets$9,218
Life insurance assets$6,166
Total liabilities and capital$223,262
Total liabilities$189,783
Total deposits$180,457
Interest-bearing deposits$153,044
Deposits held in domestic offices$180,457
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $7,500
Subordinated debt $0
All other liabilities $1,826
Total equity capital$33,479
Total bank equity capital$33,479
Perpetual preferred stock$33,479
Common stock$0
Surplus$1,397
Undivided profits $4,603
Memoranda
Noncurrent loans and leases $27,479
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $12,952
Income earned, not collected on loans $0
Earning assets $2,886
Long-term assets (5+ years) $0
Average Assets, year-to-date $593
Average Assets, quarterly $207,961
Volatile liabilities $82,969
Insider loans $218,957
FHLB advances $220,551
Loans and leases held for sale $31,609
Unused loan commitments $2,450
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $12,952
Restructured Loans and leases $0
Derivatives$1,428
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $11,996
Total interest expense $4,408
Net interest income $7,588
Provision for loan and lease losses $300
Total noninterest income $780
Fiduciary activities $0
Service charges on deposit accounts $376
Trading account gains & fees $0
Additional noninterest income $404
Total noninterest expense $5,003
Salaries and employee benefits $2,824
Premises and equipment expense $544
Additional noninterest expense $1,635
Pre-tax net operating income $3,065
Securities gains (losses) $20
Applicable income taxes $565
Income before extraordinary items $2,520
Extraordinary gains - net $0
Net income attributable to bank $2,520
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $740
Net operating income $1,565
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.91%
Cost of funding earning assets 2.17%
Net interest margin 3.74%
Noninterest income to earning assets 0.38%
Noninterest expense to earning assets 2.46%
Net operating income to assets 1.14%
Return on assets (ROA) 1.15%
Pretax return on assets 1.41%
Return on equity (ROE) 7.47%
Retained earnings to average equity (YTD only) 2.83%
Net charge-offs to loans 0.46%
Credit loss provision to net charge-offs 40.54%
Efficiency ratio4.55%
Assets per employee$59,190
Cash dividends to net income (YTD only)3.72%
Condition Ratios (%)
Loss allowance to loans 62.10%
Loss allowance to noncurrent loans 0.84%
Noncurrent assets plus other real estate owned to assets 49.48%
Noncurrent loans to loans 1.39%
Net loans and leases to deposits1.70%
Net loans and leases to core deposits 93.30%
Equity capital to assets 113.11%
Core capital (leverage) ratio 15.00%
Tier 1 risk-based capital ratio 15.43%
Total risk-based capital ratio 20.32%
Memoranda
Average assets$21
Average earning assets$218,957
Average equity $33,723
Average loans $203,042
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