FDIC Certificate #: 34974 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Union Center National Bank (#6431) Federal Reserve ID: 2800026 Date Established: April 19, 1999 WWW:http://www.redoakbank.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 62148 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: April 19, 1999 Last Structure Change Effective Date: May 20, 2005 Last Structure Change Process Date: June 02, 2005 Last Data Update: June 02, 2005 Data Source Date: April 05, 2012
Location
Address: 190 Park Avenue, Hanover Township, NJ 7962 County: Morris 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: $95.9 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2004)
Dollar figures in thousands
15Total employees (full-time equivalent)
$94,263Total assets
$4,106Cash and due from depository institutions
$3,091Interest-bearing balances
$4,597Securities
$0Federal funds sold & reverse repurchase agreements
$83,720Net loans & leases
$1,325Loan loss allowance
$0Trading account assets
$737Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,103All other assets
$94,263Total liabilities and capital
$82,261Total liabilities
$73,073Total deposits
$65,530Interest-bearing deposits
$73,073Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,896Other borrowed funds
$0Subordinated debt
$292All other liabilities
$12,002Total equity capital
$12,002Total bank equity capital
$12,002Perpetual preferred stock
$0Common stock
$10,394Surplus
$6,299Undivided profits
Memoranda
$-4,691Noncurrent loans and leases
$30,737Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$455Earning assets
$0Long-term assets (5+ years)
$348Average Assets, year-to-date
$91,408Average Assets, quarterly
$37,135Volatile liabilities
$94,421Insider loans
$94,946FHLB advances
$13,893Loans and leases held for sale
$633Unused loan commitments
$8,896Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$30,737Total unused commitments
$13Restructured Loans and leases
$1,042Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$5,159Total interest income
$1,682Total interest expense
$3,477Net interest income
$231Provision for loan and lease losses
$66Total noninterest income
$0Fiduciary activities
$24Service charges on deposit accounts
$0Trading account gains & fees
$42Additional noninterest income
$2,556Total noninterest expense
$1,334Salaries and employee benefits
$446Premises and equipment expense
$776Additional noninterest expense
$756Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$756Income before extraordinary items
$0Extraordinary gains - net
$756Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$32Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.65%Yield on earning assets
1.84%Cost of funding earning assets
3.81%Net interest margin
0.07%Noninterest income to earning assets
2.80%Noninterest expense to earning assets
0.80%Net operating income to assets
0.80%Return on assets (ROA)
0.80%Pretax return on assets
6.53%Return on equity (ROE)
6.53%Retained earnings to average equity (YTD only)
0.04%Net charge-offs to loans
721.88%Credit loss provision to net charge-offs
30.84%Efficiency ratio
72,142Assets per employee
6.28%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.56%Loss allowance to noncurrent loans
291.21%Noncurrent assets plus other real estate owned to assets
0.48%Noncurrent loans to loans
0.54%Net loans and leases to deposits
114.57%Net loans and leases to core deposits
139.12%Equity capital to assets
12.73%Core capital (leverage) ratio
12.53%Tier 1 risk-based capital ratio
14.44%Total risk-based capital ratio
Memoranda
$16Average assets
$94,421Average earning assets
$11,571Average equity
$91,287Average loans
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