Raritan Savings Bank in Raritan, New Jersey (NJ)

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Raritan Savings Bank
GeneralFDIC Certificate #: 12016
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: United Trust Bank (#6308)
Federal Reserve ID: 1000306
Date Established: April 18, 1869
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 7 (Interstate: No)
OTS Docket #: 12712
FDIC's unique #: 7659
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
FDIC Insured: Yes
Insured Savings Institution: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 1999
Last Structure Change Process Date: April 14, 1999
Last Data Update: April 14, 1999
Data Source Date: April 05, 2012
LocationAddress: 9 West Somerset Street, Raritan, NJ 8869
County: Somerset
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): Middlesex-Somerset-Hunterdon, NJ (#5015)
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)
Financial SummaryTotal assets: $431.5 mil

1992 - 1999 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, 1998)
(Dollar figures in thousands)
Total employees (full-time equivalent)87
Total assets$431,533
Cash and due from depository institutions$11,020
Interest-bearing balances$4,867
Federal funds sold & reverse repurchase agreements$50,100
Net loans & leases$299,138
Loan loss allowance $3,592
Trading account assets$0
Bank premises and fixed assets$5,718
Other real estate owned$475
Goodwill and other intangibles$315
All other assets$11,811
Life insurance assets$0
Total liabilities and capital$431,533
Total liabilities$397,780
Total deposits$359,808
Interest-bearing deposits$326,739
Deposits held in domestic offices$359,808
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $35,000
Trading liabilities$0
Other borrowed funds $9
Subordinated debt $0
All other liabilities $2,963
Total equity capital$33,753
Total bank equity capital$33,753
Perpetual preferred stock$33,753
Common stock$0
Undivided profits $9,940
Noncurrent loans and leases $23,213
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $1,589
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,493
Average Assets, quarterly $407,061
Volatile liabilities $102,625
Insider loans $425,312
FHLB advances $432,429
Loans and leases held for sale $54,723
Unused loan commitments $6,468
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $42,807
Restructured Loans and leases $0
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $29,743
Total interest expense $16,385
Net interest income $13,358
Provision for loan and lease losses $300
Total noninterest income $1,243
Fiduciary activities $0
Service charges on deposit accounts $582
Trading account gains & fees $0
Additional noninterest income $661
Total noninterest expense $8,196
Salaries and employee benefits $4,226
Premises and equipment expense $1,835
Additional noninterest expense $2,135
Pre-tax net operating income $6,105
Securities gains (losses) $41
Applicable income taxes $1,845
Income before extraordinary items $4,301
Extraordinary gains - net $0
Net income attributable to bank $4,301
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $14
Net operating income $1,510
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.44%
Cost of funding earning assets 4.10%
Net interest margin 3.34%
Noninterest income to earning assets 0.31%
Noninterest expense to earning assets 2.05%
Net operating income to assets 1.00%
Return on assets (ROA) 1.01%
Pretax return on assets 1.45%
Return on equity (ROE) 13.39%
Retained earnings to average equity (YTD only) 8.69%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 2142.86%
Efficiency ratio457.50%
Assets per employee$55,339
Cash dividends to net income (YTD only)4.96%
Condition Ratios (%)
Loss allowance to loans 35.11%
Loss allowance to noncurrent loans 1.19%
Noncurrent assets plus other real estate owned to assets 226.05%
Noncurrent loans to loans 0.48%
Net loans and leases to deposits0.52%
Net loans and leases to core deposits 83.14%
Equity capital to assets 87.96%
Core capital (leverage) ratio 7.82%
Tier 1 risk-based capital ratio 7.52%
Total risk-based capital ratio 12.39%
Average assets$14
Average earning assets$425,312
Average equity $32,122
Average loans $399,524
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User Contributions:

Jane Griffin
Report this comment as inappropriate
Sep 5, 2012 @ 9:09 am
I have in my position a CD maturity notification dating back to 5-17-97. I understand the Raritan Savings Bank no longer is in business. How can I find out if the CD is still good? I have an account number. Please help me.

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