Summit Bank in Hackensack, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 2001

  • Summit Bank in Hackensack, New Jersey (NJ)
  • Show street view No street view available for this location

Summit Bank - Overview

  • General
  • FDIC Certificate #: 550
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 80703
    Date Established: December 08, 1899
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 384 (Interstate: No)
    FDIC's unique #: 388
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 01, 2001
    Last Structure Change Process Date: April 18, 2001
    Last Data Update: April 18, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 210 Main Street, Hackensack, NJ 7602
    County: Bergen
    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): Bergen-Passaic, NJ (#875)
    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: New York-White Plains-Wayne, NY-NJ (#35644)
  • Financial Summary
  • Total assets: $34,126.5 mil

1992 - 1999 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, 2000)

  • Dollar figures in thousands
  • 7,870Total employees (full-time equivalent)
  • $34,126,472Total assets
  • $1,092,287Cash and due from depository institutions
  • $31,848Interest-bearing balances
  • $10,232,425Securities
  • $120,210Federal funds sold & reverse repurchase agreements
  • $21,193,673Net loans & leases
  • $284,986Loan loss allowance
  • $18,753Trading account assets
  • $281,954Bank premises and fixed assets
  • $27,908Other real estate owned
  • $208,338Goodwill and other intangibles
  • $0Life insurance assets
  • $950,924All other assets
  • $34,126,472Total liabilities and capital
  • $31,630,808Total liabilities
  • $23,402,339Total deposits
  • $18,394,284Interest-bearing deposits
  • $23,402,339Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $2,732,179Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,840,802Other borrowed funds
  • $167,047Subordinated debt
  • $488,441All other liabilities
  • $2,495,664Total equity capital
  • $2,495,664Total bank equity capital
  • $2,495,664Perpetual preferred stock
  • $6,000Common stock
  • $172,953Surplus
  • $800,855Undivided profits
  • Memoranda
  • $1,515,856Noncurrent loans and leases
  • $7,619,646Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $170,375Earning assets
  • $0Long-term assets (5+ years)
  • $180,894Average Assets, year-to-date
  • $31,596,909Average Assets, quarterly
  • $12,220,826Volatile liabilities
  • $33,070,087Insider loans
  • $34,052,655FHLB advances
  • $7,857,837Loans and leases held for sale
  • $220,425Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $1,265,889Tier 2 risk-based capital
  • $53,524Total risk weighted assets
  • $7,619,646Total unused commitments
  • $0Restructured Loans and leases
  • $323,255Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $2,434,824Total interest income
  • $1,225,415Total interest expense
  • $1,209,409Net interest income
  • $87,758Provision for loan and lease losses
  • $342,106Total noninterest income
  • $49,786Fiduciary activities
  • $114,425Service charges on deposit accounts
  • $5,436Trading account gains & fees
  • $172,459Additional noninterest income
  • $780,716Total noninterest expense
  • $432,991Salaries and employee benefits
  • $144,090Premises and equipment expense
  • $203,635Additional noninterest expense
  • $683,041Pre-tax net operating income
  • $44Securities gains (losses)
  • $222,506Applicable income taxes
  • $460,579Income before extraordinary items
  • $0Extraordinary gains - net
  • $460,579Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $86,933Sale, conversion, retirement of capital stock, net
  • $302,760Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.89%Yield on earning assets
  • 3.97%Cost of funding earning assets
  • 3.92%Net interest margin
  • 1.11%Noninterest income to earning assets
  • 2.53%Noninterest expense to earning assets
  • 1.39%Net operating income to assets
  • 1.39%Return on assets (ROA)
  • 2.07%Pretax return on assets
  • 20.06%Return on equity (ROE)
  • 6.87%Retained earnings to average equity (YTD only)
  • 0.42%Net charge-offs to loans
  • 100.95%Credit loss provision to net charge-offs
  • 8.87%Efficiency ratio
  • 49,140Assets per employee
  • 4.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 65.73%Loss allowance to loans
  • 1.33%Loss allowance to noncurrent loans
  • 167.27%Noncurrent assets plus other real estate owned to assets
  • 0.52%Noncurrent loans to loans
  • 0.79%Net loans and leases to deposits
  • 90.56%Net loans and leases to core deposits
  • 98.83%Equity capital to assets
  • 7.31%Core capital (leverage) ratio
  • 6.89%Tier 1 risk-based capital ratio
  • 8.92%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $33,070,087Average earning assets
  • $2,295,834Average equity
  • $30,856,765Average 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 Summit 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