Southern Ocean State Bank in Little Egg Harbor Township, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 29, 1994

  • Southern Ocean State Bank in Little Egg Harbor Township, New Jersey (NJ)
  • Show street view No street view available for this location

Southern Ocean State Bank - Overview

  • General
  • FDIC Certificate #: 22274
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Sun National Bank (#26240)
    Federal Reserve ID: 860914
    Date Established: May 17, 1976
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 15486
    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: May 17, 1976
    Last Structure Change Effective Date: July 29, 1994
    Last Structure Change Process Date: August 09, 1994
    Last Data Update: August 09, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: Route 9, Little Egg Harbor Township, NJ 8087
    County: Ocean
    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: $69.1 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $37Total assets
  • $69,900Cash and due from depository institutions
  • $3,965Interest-bearing balances
  • $1,589Securities
  • $26,340Federal funds sold & reverse repurchase agreements
  • $800Net loans & leases
  • $35,670Loan loss allowance
  • $477Trading account assets
  • $0Bank premises and fixed assets
  • $1,510Other real estate owned
  • $937Goodwill and other intangibles
  • $678Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $69,900Total liabilities
  • $64,234Total deposits
  • $63,578Interest-bearing deposits
  • $53,953Deposits held in domestic offices
  • 63578.00%% insured (estimated)
  • $96Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $656Total equity capital
  • $656Total bank equity capital
  • $5,666Perpetual preferred stock
  • $0Common stock
  • $1,660Surplus
  • $1,705Undivided profits
  • Memoranda
  • $2,301Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $679Income earned, not collected on loans
  • $241Earning assets
  • $64,399Long-term assets (5+ years)
  • $7,018Average Assets, year-to-date
  • $70,859Average Assets, quarterly
  • $69,380Volatile liabilities
  • $2,282Insider loans
  • $228FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $4,521Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $5,666Total risk weighted assets
  • $40,423Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,013Total interest expense
  • $1,837Net interest income
  • $3,176Provision for loan and lease losses
  • -$20Total noninterest income
  • $555Fiduciary activities
  • $0Service charges on deposit accounts
  • $428Trading account gains & fees
  • $0Additional noninterest income
  • $127Total noninterest expense
  • $3,377Salaries and employee benefits
  • $1,000Premises and equipment expense
  • $374Additional noninterest expense
  • $2,003Pre-tax net operating income
  • $374Securities gains (losses)
  • $520Applicable income taxes
  • $292Income before extraordinary items
  • $602Extraordinary gains - net
  • -$207Net income attributable to bank
  • $395Net charge-offs
  • $429Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.72%Cost of funding earning assets
  • 2.83%Net interest margin
  • 4.89%Noninterest income to earning assets
  • 0.86%Noninterest expense to earning assets
  • 5.20%Net operating income to assets
  • 0.36%Return on assets (ROA)
  • 0.56%Pretax return on assets
  • 0.97%Return on equity (ROE)
  • 7.43%Retained earnings to average equity (YTD only)
  • 7.43%Net charge-offs to loans
  • 1.21%Credit loss provision to net charge-offs
  • -4.66%Efficiency ratio
  • 89,869Assets per employee
  • 1.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.32%Loss allowance to noncurrent loans
  • 70.25%Noncurrent assets plus other real estate owned to assets
  • 2.31%Noncurrent loans to loans
  • 1.88%Net loans and leases to deposits
  • 56.10%Net loans and leases to core deposits
  • 58.19%Equity capital to assets
  • 8.11%Core capital (leverage) ratio
  • 8.09%Tier 1 risk-based capital ratio
  • 14.02%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $70,859Average earning assets
  • $5,319Average equity
  • $64,908Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Southern Ocean State Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents