FDIC Certificate #: 21492 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Valley National Bank (#9396) Federal Reserve ID: 134400 Date Established: March 25, 1974 WWW:http://www.ssbnj.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 12 (Interstate: No) FDIC's unique #: 14864 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 25, 1974 Last Structure Change Effective Date: March 31, 2005 Last Structure Change Process Date: April 07, 2005 Last Data Update: April 07, 2005 Data Source Date: April 05, 2012
Location
Address: 465 Broad Street, Shrewsbury, NJ 7702 County: Monmouth 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): Monmouth-Ocean, NJ (#5190) 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 Summary
Total assets: $428.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2004)
Dollar figures in thousands
120Total employees (full-time equivalent)
$428,074Total assets
$33,311Cash and due from depository institutions
$20,550Interest-bearing balances
$114,139Securities
$2,100Federal funds sold & reverse repurchase agreements
$266,051Net loans & leases
$3,193Loan loss allowance
$0Trading account assets
$2,553Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$9,920All other assets
$428,074Total liabilities and capital
$367,226Total liabilities
$343,360Total deposits
$266,854Interest-bearing deposits
$343,360Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,916Other borrowed funds
$0Subordinated debt
$2,950All other liabilities
$60,848Total equity capital
$60,848Total bank equity capital
$60,848Perpetual preferred stock
$0Common stock
$7,075Surplus
$14,288Undivided profits
Memoranda
$39,485Noncurrent loans and leases
$99,105Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$510Earning assets
$0Long-term assets (5+ years)
$1,778Average Assets, year-to-date
$402,840Average Assets, quarterly
$143,500Volatile liabilities
$419,948Insider loans
$426,152FHLB advances
$14,194Loans and leases held for sale
$2,674Unused loan commitments
$20,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$99,105Total unused commitments
$0Restructured Loans and leases
$3,193Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$19,701Total interest income
$3,158Total interest expense
$16,543Net interest income
$120Provision for loan and lease losses
$4,094Total noninterest income
$0Fiduciary activities
$2,962Service charges on deposit accounts
$0Trading account gains & fees
$1,132Additional noninterest income
$11,605Total noninterest expense
$6,494Salaries and employee benefits
$1,762Premises and equipment expense
$3,349Additional noninterest expense
$8,912Pre-tax net operating income
$0Securities gains (losses)
$3,006Applicable income taxes
$5,906Income before extraordinary items
$0Extraordinary gains - net
$5,906Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$119Sale, conversion, retirement of capital stock, net
$2,006Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.96%Yield on earning assets
0.80%Cost of funding earning assets
4.17%Net interest margin
1.03%Noninterest income to earning assets
2.92%Noninterest expense to earning assets
1.41%Net operating income to assets
1.41%Return on assets (ROA)
2.12%Pretax return on assets
9.99%Return on equity (ROE)
6.60%Retained earnings to average equity (YTD only)
0.05%Net charge-offs to loans
100.84%Credit loss provision to net charge-offs
75.90%Efficiency ratio
56,234Assets per employee
3.57%Cash dividends to net income (YTD only)
Condition Ratios (%)
33.97%Loss allowance to loans
1.19%Loss allowance to noncurrent loans
626.08%Noncurrent assets plus other real estate owned to assets
0.12%Noncurrent loans to loans
0.19%Net loans and leases to deposits
77.48%Net loans and leases to core deposits
80.60%Equity capital to assets
14.21%Core capital (leverage) ratio
14.18%Tier 1 risk-based capital ratio
20.23%Total risk-based capital ratio
Memoranda
$21Average assets
$419,948Average earning assets
$59,109Average equity
$397,034Average loans
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