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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