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- Banks in New Jersey (NJ)
- Synergy Bank
Synergy Bank in Cranford, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of October 01, 2007
- Synergy Bank in Cranford, New Jersey (NJ)
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Synergy Bank - Overview
- General
- FDIC Certificate #: 34851
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: New York Community Bank (#16022)
Federal Reserve ID: 540784
Date Established: January 01, 1952
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 14617
FDIC's unique #: 61810
Numeric code: 34
Regulator: OTS
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: May 01, 1998
Last Structure Change Effective Date: October 01, 2007
Last Structure Change Process Date: October 11, 2007
Last Data Update: October 11, 2007
Data Source Date: April 05, 2012 - Location
- Address: 310 North Avenue East, Cranford, NJ 7016
County: Union
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: $912.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
- Dollar figures in thousands
- 155Total employees (full-time equivalent)
- $981,181Total assets
- $10,079Cash and due from depository institutions
- $4,406Interest-bearing balances
- $142,323Securities
- $0Federal funds sold & reverse repurchase agreements
- $764,914Net loans & leases
- $5,989Loan loss allowance
- $0Trading account assets
- $20,104Bank premises and fixed assets
- $0Other real estate owned
- $631Goodwill and other intangibles
- $21,816Life insurance assets
- $43,130All other assets
- $981,181Total liabilities and capital
- $892,525Total liabilities
- $649,557Total deposits
- $582,862Interest-bearing deposits
- $649,557Deposits held in domestic offices
- 0.00%% insured (estimated)
- $0Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $240,275Other borrowed funds
- $0Subordinated debt
- $2,693All other liabilities
- $88,656Total equity capital
- $88,656Total bank equity capital
- $88,656Perpetual preferred stock
- $0Common stock
- $1Surplus
- $59,419Undivided profits
- Memoranda
- $29,236Noncurrent loans and leases
- $62,571Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $422Earning assets
- $0Long-term assets (5+ years)
- $3,832Average Assets, year-to-date
- $911,643Average Assets, quarterly
- $0Volatile liabilities
- $982,195Insider loans
- $985,398FHLB advances
- $418,661Loans and leases held for sale
- $4,270Unused loan commitments
- $235,675Tier 1 (core) risk-based capital
- $0Tier 2 risk-based capital
- $0Total risk weighted assets
- $62,571Total unused commitments
- $6Restructured Loans and leases
- $5,989Derivatives
Income and Expense (December 31, 2006)
- Dollar figures in thousands
- $55,183Total interest income
- $31,729Total interest expense
- $23,454Net interest income
- $970Provision for loan and lease losses
- $2,944Total noninterest income
- $0Fiduciary activities
- $0Service charges on deposit accounts
- $0Trading account gains & fees
- $2,944Additional noninterest income
- $18,950Total noninterest expense
- $11,677Salaries and employee benefits
- $3,176Premises and equipment expense
- $4,097Additional noninterest expense
- $6,478Pre-tax net operating income
- $0Securities gains (losses)
- $2,236Applicable income taxes
- $4,242Income before extraordinary items
- $0Extraordinary gains - net
- $4,242Net income attributable to bank
- $0Net charge-offs
- $0Cash dividends
- $743Sale, conversion, retirement of capital stock, net
- $4,009Net operating income
Performance and Condition Ratios (December 31, 2006)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 6.00%Yield on earning assets
- 3.45%Cost of funding earning assets
- 2.55%Net interest margin
- 0.32%Noninterest income to earning assets
- 2.06%Noninterest expense to earning assets
- 0.43%Net operating income to assets
- 0.43%Return on assets (ROA)
- 0.66%Pretax return on assets
- 4.88%Return on equity (ROE)
- 0.27%Retained earnings to average equity (YTD only)
- 0.10%Net charge-offs to loans
- 130.55%Credit loss provision to net charge-offs
- 10.02%Efficiency ratio
- 71,361Assets per employee
- 6.33%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 94.51%Loss allowance to loans
- 0.78%Loss allowance to noncurrent loans
- 1419.19%Noncurrent assets plus other real estate owned to assets
- 0.04%Noncurrent loans to loans
- 0.05%Net loans and leases to deposits
- 117.76%Net loans and leases to core deposits
- 162.34%Equity capital to assets
- 9.04%Core capital (leverage) ratio
- 9.05%Tier 1 risk-based capital ratio
- 11.64%Total risk-based capital ratio
- Memoranda
- $12Average assets
- $982,195Average earning assets
- $86,947Average equity
- $919,291Average loans
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- Banks in New Jersey (NJ)
- Synergy Bank
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