ShoreBank in Chicago, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 20, 2010

  • ShoreBank in Chicago, Illinois (IL)
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ShoreBank - Overview

  • General
  • FDIC Certificate #: 15640
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Urban Partnership Bank (#59051)
    Federal Reserve ID: 141734
    Date Established: January 21, 1939
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 15 (Interstate: No)
    OTS Docket #: 10686
    FDIC's unique #: 9919
    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 21, 1939
    Last Structure Change Effective Date: August 20, 2010
    Last Structure Change Process Date: August 23, 2010
    Last Data Update: August 23, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 7054 South Jeffery Avenue, Chicago, IL 60649
    County: Cook
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Chicago
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Chicago, IL (#1600)
    Consolidated Metropolitan Statistical Area (CMSA): Chicago-Gary-Kenosha, IL-IN-WI (#14)
    Combined Statistical Area (CSA): Chicago-Naperville-Michigan City, IL-IN-WI (#176)
    Core Based Statistical Area (CBSA): Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    CBSA Metro Statistical Area: Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    Core Based Statistical Division: Chicago-Joliet-Naperville, IL (#16974)
  • Financial Summary
  • Total assets: $2,166.4 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, 2009)

  • Dollar figures in thousands
  • 366Total employees (full-time equivalent)
  • $2,246,737Total assets
  • $147,293Cash and due from depository institutions
  • $120,590Interest-bearing balances
  • $652,543Securities
  • $35,000Federal funds sold & reverse repurchase agreements
  • $1,316,181Net loans & leases
  • $80,047Loan loss allowance
  • $0Trading account assets
  • $21,726Bank premises and fixed assets
  • $3,066Other real estate owned
  • $1,314Goodwill and other intangibles
  • $16,062Life insurance assets
  • $69,614All other assets
  • $2,246,737Total liabilities and capital
  • $2,210,453Total liabilities
  • $1,603,248Total deposits
  • $1,568,529Interest-bearing deposits
  • $1,603,248Deposits held in domestic offices
  • 85.99%% insured (estimated)
  • $400,250Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $194,138Other borrowed funds
  • $0Subordinated debt
  • $12,817All other liabilities
  • $36,284Total equity capital
  • $36,284Total bank equity capital
  • $36,284Perpetual preferred stock
  • $15,615Common stock
  • $1,354Surplus
  • $99,859Undivided profits
  • Memoranda
  • $-80,544Noncurrent loans and leases
  • $33,713Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $315,837Earning assets
  • $4,644Long-term assets (5+ years)
  • $10,313Average Assets, year-to-date
  • $2,124,314Average Assets, quarterly
  • $925,075Volatile liabilities
  • $2,512,122Insider loans
  • $2,396,317FHLB advances
  • $650,692Loans and leases held for sale
  • $8,204Unused loan commitments
  • $193,982Tier 1 (core) risk-based capital
  • $20,000Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $33,713Total unused commitments
  • $90,319Restructured Loans and leases
  • $17,250Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $119,190Total interest income
  • $69,958Total interest expense
  • $49,232Net interest income
  • $101,024Provision for loan and lease losses
  • $2,621Total noninterest income
  • $3Fiduciary activities
  • $3,465Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$847Additional noninterest income
  • $67,944Total noninterest expense
  • $25,722Salaries and employee benefits
  • $5,077Premises and equipment expense
  • $37,145Additional noninterest expense
  • -$117,115Pre-tax net operating income
  • $13,886Securities gains (losses)
  • $2,077Applicable income taxes
  • -$105,306Income before extraordinary items
  • $0Extraordinary gains - net
  • -$105,306Net income attributable to bank
  • $0Net charge-offs
  • -$105,306Cash dividends
  • $66,677Sale, conversion, retirement of capital stock, net
  • $2,219Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.03%Yield on earning assets
  • 2.95%Cost of funding earning assets
  • 2.08%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 2.87%Noninterest expense to earning assets
  • -4.74%Net operating income to assets
  • -4.19%Return on assets (ROA)
  • -4.11%Pretax return on assets
  • -83.82%Return on equity (ROE)
  • -85.59%Retained earnings to average equity (YTD only)
  • 4.48%Net charge-offs to loans
  • 151.51%Credit loss provision to net charge-offs
  • -0.24%Efficiency ratio
  • 106,499Assets per employee
  • 6.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -2.11%Loss allowance to loans
  • 5.73%Loss allowance to noncurrent loans
  • 25.34%Noncurrent assets plus other real estate owned to assets
  • 14.19%Noncurrent loans to loans
  • 22.62%Net loans and leases to deposits
  • 82.09%Net loans and leases to core deposits
  • 97.28%Equity capital to assets
  • 1.61%Core capital (leverage) ratio
  • 1.83%Tier 1 risk-based capital ratio
  • 3.31%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $2,512,122Average earning assets
  • $125,631Average equity
  • $2,367,535Average loans

Total Fiduciary and Related Assets (December 31, 2009)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $294,765Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 2Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $294,765Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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