FDIC Certificate #: 27376 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:United Trust Bank (#6308) Federal Reserve ID: 1229219 Date Established: October 27, 1988 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 39696 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: October 27, 1988 Last Structure Change Effective Date: September 30, 1998 Last Structure Change Process Date: October 20, 1998 Last Data Update: October 20, 1998 Data Source Date: April 05, 2012
Location
Address: Valley And Third Streets, South Orange, NJ 7079 County: Essex 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: $70.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
24Total employees (full-time equivalent)
$73,847Total assets
$4,236Cash and due from depository institutions
$0Interest-bearing balances
$11,755Securities
$5,825Federal funds sold & reverse repurchase agreements
$49,045Net loans & leases
$801Loan loss allowance
$0Trading account assets
$1,998Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$988All other assets
$73,847Total liabilities and capital
$68,170Total liabilities
$67,837Total deposits
$55,246Interest-bearing deposits
$67,837Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$333All other liabilities
$5,677Total equity capital
$5,677Total bank equity capital
$5,677Perpetual preferred stock
$0Common stock
$3,198Surplus
$1,802Undivided profits
Memoranda
$677Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$292Earning assets
$0Long-term assets (5+ years)
$498Average Assets, year-to-date
$66,625Average Assets, quarterly
$4,117Volatile liabilities
$68,565Insider loans
$68,520FHLB advances
$13,838Loans and leases held for sale
$2,235Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,555Total unused commitments
$0Restructured Loans and leases
$56,093Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$5,182Total interest income
$2,241Total interest expense
$2,941Net interest income
$232Provision for loan and lease losses
$589Total noninterest income
$0Fiduciary activities
$510Service charges on deposit accounts
$0Trading account gains & fees
$79Additional noninterest income
$2,168Total noninterest expense
$1,142Salaries and employee benefits
$311Premises and equipment expense
$715Additional noninterest expense
$1,130Pre-tax net operating income
$0Securities gains (losses)
$471Applicable income taxes
$659Income before extraordinary items
$0Extraordinary gains - net
$659Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$182Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.34%Yield on earning assets
3.61%Cost of funding earning assets
4.73%Net interest margin
0.95%Noninterest income to earning assets
3.49%Noninterest expense to earning assets
0.96%Net operating income to assets
0.96%Return on assets (ROA)
1.65%Pretax return on assets
12.51%Return on equity (ROE)
12.51%Retained earnings to average equity (YTD only)
0.41%Net charge-offs to loans
127.47%Credit loss provision to net charge-offs
7.48%Efficiency ratio
61,416Assets per employee
3.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.61%Loss allowance to noncurrent loans
274.32%Noncurrent assets plus other real estate owned to assets
0.40%Noncurrent loans to loans
0.59%Net loans and leases to deposits
72.30%Net loans and leases to core deposits
90.83%Equity capital to assets
7.69%Core capital (leverage) ratio
8.06%Tier 1 risk-based capital ratio
9.86%Total risk-based capital ratio
Memoranda
$11Average assets
$68,565Average earning assets
$5,270Average equity
$62,147Average loans
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