Somerset Hills Bank in Bernardsville, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches


Somerset Hills Bank - Overview

  • General
  • FDIC Certificate #: 34720
    Status: Active
    Federal Reserve ID: 2751388
    Bank Holding Company (Regulatory Top Holder): Somerset Hills Bancorp (RSSDID: 2950480, Location: Bernardsville, NJ)
    Date Established: December 07, 1998
    WWW: http://www.somersethillsbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 61404
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 07, 1998
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 155 Morristown Road, Bernardsville, NJ 7924
    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)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $363.7 mil
    Equity capital: $37.8 mil
    Deposits held in domestic offices: $316.9 mil
    Return on assets (ROA): 0.84% ($3.1 mil)
    Quarterly return on assets: 0.95% ($3.5 mil)
    Return on Equity (ROE): 7.87% ($3.0 mil)
    Quarterly return on equity: 8.97% ($3.4 mil)
    Net income: $2.9 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.21% ($4,400.4 mil)
    Quarterly Pretax return on assets: 1.45% ($5,273.2 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, 2011)

  • Dollar figures in thousands
  • 59Total employees (full-time equivalent)
  • $363,668Total assets
  • $59,999Cash and due from depository institutions
  • $55,411Interest-bearing balances
  • $54,317Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $232,121Net loans & leases
  • $2,982Loan loss allowance
  • $0Trading account assets
  • $4,988Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $363,668Life insurance assets
  • $12,243All other assets
  • $325,899Total liabilities and capital
  • $316,950Total liabilities
  • $234,182Total deposits
  • $316,950Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,500Trading liabilities
  • $0Other borrowed funds
  • $1,449Subordinated debt
  • $37,769All other liabilities
  • $37,769Total equity capital
  • $37,769Total bank equity capital
  • $0Perpetual preferred stock
  • $7,868Common stock
  • $16,445Surplus
  • $13,456Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,928Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $146Income earned, not collected on loans
  • $0Earning assets
  • $1,168Long-term assets (5+ years)
  • $341,849Average Assets, year-to-date
  • $138,896Average Assets, quarterly
  • $339,455Volatile liabilities
  • $353,897Insider loans
  • $265,817FHLB advances
  • $364,120Loans and leases held for sale
  • $8,000Unused loan commitments
  • $5,848Tier 1 (core) risk-based capital
  • $36,980Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,152Total unused commitments
  • $92,807Restructured Loans and leases
  • $1,313Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $13,640Total interest income
  • $1,793Total interest expense
  • $11,847Net interest income
  • $220Provision for loan and lease losses
  • $1,993Total noninterest income
  • $0Fiduciary activities
  • $286Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,707Additional noninterest income
  • $9,520Total noninterest expense
  • $5,280Salaries and employee benefits
  • $1,499Premises and equipment expense
  • $2,741Additional noninterest expense
  • $4,100Pre-tax net operating income
  • $9Securities gains (losses)
  • $1,258Applicable income taxes
  • $2,851Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,851Net income attributable to bank
  • $0Net charge-offs
  • $2,851Cash dividends
  • $113Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.32%Yield on earning assets
  • 0.57%Cost of funding earning assets
  • 3.75%Net interest margin
  • 0.63%Noninterest income to earning assets
  • 3.01%Noninterest expense to earning assets
  • 0.84%Net operating income to assets
  • 0.84%Return on assets (ROA)
  • 1.21%Pretax return on assets
  • 7.87%Return on equity (ROE)
  • 7.87%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 194.69%Credit loss provision to net charge-offs
  • 38.23%Efficiency ratio
  • 68,786Assets per employee
  • 6.16%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 2042.47%Noncurrent assets plus other real estate owned to assets
  • 0.04%Noncurrent loans to loans
  • 0.06%Net loans and leases to deposits
  • 73.24%Net loans and leases to core deposits
  • 74.17%Equity capital to assets
  • 10.39%Core capital (leverage) ratio
  • 10.16%Tier 1 risk-based capital ratio
  • 13.91%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $339,455Average earning assets
  • $36,216Average equity
  • $315,773Average loans

List of branches

  • 6 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061404Somerset Hills Bank155 Morristown Road, Bernardsville, NJ 7924December 07, 1998Full Service Brick and Mortar
    1334378Mendham Borough Branch98 East Main Street, Mendham, NJ 7945May 08, 2000Full Service Brick and Mortar
    2365494Morristown Branch151 South Street, Morristown, NJ 7960October 07, 2002Full Service Brick and Mortar
    3441966Summit Branch510 Morris Avenue, Summit, NJ 7901September 29, 2004Full Service Brick and Mortar
    4455609Madison Branch265 Main Street, Madison, NJ 7940September 08, 2006Full Service Brick and Mortar
    5462757Long Valley Branch24 Schooley's Mountain Road, Long Valley, NJ 7853April 30, 2007Full Service Brick and Mortar

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