Sunrise Federal Savings Bank in Farmingdale, New York (NY)



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Sunrise Federal Savings Bank
GeneralFDIC Certificate #: 29269
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Reliance Federal Savings Bank (#29210)
Federal Reserve ID: 978976
Date Established: January 01, 1934
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3194
FDIC's unique #: 42103
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: January 16, 1935
Last Structure Change Effective Date: January 11, 1996
Last Structure Change Process Date: March 15, 1996
Last Data Update: March 15, 1996
Data Source Date: April 05, 2012
LocationAddress: 312 Conklin Street, Farmingdale, NY 11735
County: Nassau
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: New York City
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Nassau-Suffolk, NY (#5380)
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: Nassau-Suffolk, NY (#35004)
Financial SummaryTotal assets: $603.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$194
Cash and due from depository institutions$603,520
Interest-bearing balances$11,926
Securities$0
Federal funds sold & reverse repurchase agreements$195,695
Net loans & leases$6,950
Loan loss allowance $370,785
Trading account assets$1,931
Bank premises and fixed assets$0
Other real estate owned$3,091
Goodwill and other intangibles$651
All other assets$2,584
Life insurance assets$11,838
Total liabilities and capital$0
Total liabilities$603,520
Total deposits$543,792
Interest-bearing deposits$494,418
Deposits held in domestic offices$482,198
% insured (estimated)494418.00%
Federal funds purchased & repurchase agreements $99
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $47,753
All other liabilities $0
Total equity capital$1,621
Total bank equity capital$1,621
Perpetual preferred stock$59,728
Common stock$0
Surplus$1
Undivided profits $18,999
Memoranda
Noncurrent loans and leases $40,728
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,904
Earning assets $2,552
Long-term assets (5+ years) $573,430
Average Assets, year-to-date $0
Average Assets, quarterly $599,070
Volatile liabilities $611,014
Insider loans $70,916
FHLB advances $1,155
Loans and leases held for sale $47,000
Unused loan commitments $0
Tier 1 (core) risk-based capital $11,899
Tier 2 risk-based capital $0
Total risk weighted assets $59,391
Total unused commitments $254,767
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $43,235
Net interest income $21,528
Provision for loan and lease losses $21,707
Total noninterest income $344
Fiduciary activities $2,536
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $2,536
Salaries and employee benefits $17,025
Premises and equipment expense $10,469
Additional noninterest expense $2,712
Pre-tax net operating income $3,844
Securities gains (losses) $6,874
Applicable income taxes $372
Income before extraordinary items $3,709
Extraordinary gains - net $3,537
Net income attributable to bank $0
Net charge-offs $3,537
Cash dividends $0
Sale, conversion, retirement of capital stock, net $2,000
Net operating income $0
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.59%
Net interest margin 3.78%
Noninterest income to earning assets 3.81%
Noninterest expense to earning assets 0.45%
Net operating income to assets 2.99%
Return on assets (ROA) 0.55%
Pretax return on assets 0.59%
Return on equity (ROE) 1.21%
Retained earnings to average equity (YTD only) 6.09%
Net charge-offs to loans 2.65%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$70,226
Cash dividends to net income (YTD only)3.11%
Condition Ratios (%)
Loss allowance to loans 56.55%
Loss allowance to noncurrent loans 0.52%
Noncurrent assets plus other real estate owned to assets 32.71%
Noncurrent loans to loans 1.09%
Net loans and leases to deposits1.58%
Net loans and leases to core deposits 74.99%
Equity capital to assets 78.68%
Core capital (leverage) ratio 9.90%
Tier 1 risk-based capital ratio 9.85%
Total risk-based capital ratio 23.31%
Memoranda
Average assets$24
Average earning assets$599,070
Average equity $58,068
Average loans $569,464
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