Pilgrim State Bank in Cedar Grove, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 30, 1993

  • Pilgrim State Bank in Cedar Grove, New Jersey (NJ)
  • Show street view No street view available for this location

Pilgrim State Bank - Overview

  • General
  • FDIC Certificate #: 20395
    Status: Inactive
    Closing history: Consolidated - Without Assistance
    Acquiring institution: The Ramapo Bank (#19721)
    Federal Reserve ID: 760005
    Date Established: March 27, 1971
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Interstate: No)
    FDIC's unique #: 14053
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: March 27, 1971
    Last Structure Change Effective Date: June 30, 1993
    Last Structure Change Process Date: July 15, 1993
    Last Data Update: July 15, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 85-107 Pompton Avenue, Cedar Grove, NJ 7009
    County: Essex
    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): Newark, NJ (#5640)
    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: Newark-Union, NJ-PA (#35084)
  • Financial Summary
  • Total assets: $126.3 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $43Total assets
  • $131,784Cash and due from depository institutions
  • $11,544Interest-bearing balances
  • $0Securities
  • $31,743Federal funds sold & reverse repurchase agreements
  • $12,275Net loans & leases
  • $71,936Loan loss allowance
  • $1,858Trading account assets
  • $0Bank premises and fixed assets
  • $762Other real estate owned
  • $1,378Goodwill and other intangibles
  • $2,033Life insurance assets
  • $113All other assets
  • $0Total liabilities and capital
  • $131,784Total liabilities
  • $126,241Total deposits
  • $125,616Interest-bearing deposits
  • $100,377Deposits held in domestic offices
  • 125616.00%% insured (estimated)
  • $87Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $625Total equity capital
  • $625Total bank equity capital
  • $5,543Perpetual preferred stock
  • $0Common stock
  • $750Surplus
  • $1,368Undivided profits
  • Memoranda
  • $3,425Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,988Income earned, not collected on loans
  • $437Earning assets
  • $115,954Long-term assets (5+ years)
  • $7,470Average Assets, year-to-date
  • $131,304Average Assets, quarterly
  • $129,448Volatile liabilities
  • $2,603Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $14,360Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $5,430Total risk weighted assets
  • $74,705Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $8,765Total interest expense
  • $3,826Net interest income
  • $4,939Provision for loan and lease losses
  • $2,050Total noninterest income
  • $704Fiduciary activities
  • $0Service charges on deposit accounts
  • $410Trading account gains & fees
  • $0Additional noninterest income
  • $294Total noninterest expense
  • $5,322Salaries and employee benefits
  • $1,355Premises and equipment expense
  • $561Additional noninterest expense
  • $3,406Pre-tax net operating income
  • -$1,729Securities gains (losses)
  • $3Applicable income taxes
  • -$321Income before extraordinary items
  • -$1,405Extraordinary gains - net
  • $297Net income attributable to bank
  • -$1,108Net charge-offs
  • $1,609Cash 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
  • 7.33%Cost of funding earning assets
  • 3.20%Net interest margin
  • 4.13%Noninterest income to earning assets
  • 0.59%Noninterest expense to earning assets
  • 4.45%Net operating income to assets
  • -1.07%Return on assets (ROA)
  • -0.84%Pretax return on assets
  • -1.09%Return on equity (ROE)
  • -17.73%Retained earnings to average equity (YTD only)
  • -17.73%Net charge-offs to loans
  • 2.17%Credit loss provision to net charge-offs
  • 127.41%Efficiency ratio
  • 94,010Assets per employee
  • 3.06%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.52%Loss allowance to noncurrent loans
  • 62.18%Noncurrent assets plus other real estate owned to assets
  • 3.31%Noncurrent loans to loans
  • 4.05%Net loans and leases to deposits
  • 57.27%Net loans and leases to core deposits
  • 58.48%Equity capital to assets
  • 4.21%Core capital (leverage) ratio
  • 4.21%Tier 1 risk-based capital ratio
  • 7.27%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $131,304Average earning assets
  • $6,248Average equity
  • $119,572Average loans

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