FDIC Certificate #: 34668 Status: Inactive Federal Reserve ID: 2736433 Date Established: September 04, 1998 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 14764 FDIC's unique #: 61120 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: September 04, 1998 Last Structure Change Effective Date: December 31, 2004 Last Structure Change Process Date: January 27, 2005 Last Data Update: January 27, 2005 Data Source Date: April 05, 2012
Location
Address: 1 Harborside Financial Center Plaza 4a, 8th Floor, Jersey City, NJ 7311 County: Hudson 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): Jersey City, NJ (#3640) 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)
History of Changes
Other Liquidations and Closings
Change in Insurance Status
Financial Summary
Total assets: $9.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
5Total employees (full-time equivalent)
$13,041Total assets
$2,727Cash and due from depository institutions
$2,538Interest-bearing balances
$9,267Securities
$0Federal funds sold & reverse repurchase agreements
$361Net loans & leases
$2Loan loss allowance
$0Trading account assets
$82Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$604All other assets
$13,041Total liabilities and capital
$2,497Total liabilities
$650Total deposits
$650Interest-bearing deposits
$650Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,847All other liabilities
$10,544Total equity capital
$10,544Total bank equity capital
$10,544Perpetual preferred stock
$0Common stock
$1Surplus
$15,028Undivided profits
Memoranda
$-4,485Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$2Average Assets, year-to-date
$12,166Average Assets, quarterly
$0Volatile liabilities
$8,572Insider loans
$12,927FHLB advances
$600Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$2Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$152Total interest income
$21Total interest expense
$131Net interest income
-$1Provision for loan and lease losses
$137Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$137Additional noninterest income
$3,093Total noninterest expense
$2,414Salaries and employee benefits
$219Premises and equipment expense
$460Additional noninterest expense
-$2,824Pre-tax net operating income
$0Securities gains (losses)
-$1,044Applicable income taxes
-$1,780Income before extraordinary items
$0Extraordinary gains - net
-$1,780Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
2.03%Yield on earning assets
0.28%Cost of funding earning assets
1.75%Net interest margin
1.83%Noninterest income to earning assets
41.31%Noninterest expense to earning assets
-20.77%Net operating income to assets
-20.77%Return on assets (ROA)
-32.95%Pretax return on assets
-29.74%Return on equity (ROE)
-29.74%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
1,154,104Assets per employee
2.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.55%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
55.54%Net loans and leases to core deposits
722.00%Equity capital to assets
80.85%Core capital (leverage) ratio
81.00%Tier 1 risk-based capital ratio
325.72%Total risk-based capital ratio
Memoranda
$326Average assets
$8,572Average earning assets
$5,985Average equity
$7,488Average loans
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