The Bank of Mid-Jersey in Bordentown, New Jersey (NJ)

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The Bank of Mid-Jersey
GeneralFDIC Certificate #: 8607
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Summit Bank (#550)
Federal Reserve ID: 575311
Date Established: October 01, 1851
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 21 (Interstate: No)
OTS Docket #: 13134
FDIC's unique #: 5500
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 07, 1997
Last Structure Change Process Date: June 16, 1997
Last Data Update: June 16, 1997
Data Source Date: April 05, 2012
LocationAddress: 243 Route 130, Bordentown, NJ 8505
County: Burlington
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): Philadelphia, PA-NJ (#6160)
Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
Core Based Statistical Division: Camden, NJ (#15804)
Financial SummaryTotal assets: $674.3 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$266
Cash and due from depository institutions$671,756
Interest-bearing balances$21,890
Federal funds sold & reverse repurchase agreements$183,156
Net loans & leases$0
Loan loss allowance $440,765
Trading account assets$8,719
Bank premises and fixed assets$0
Other real estate owned$5,543
Goodwill and other intangibles$1,185
All other assets$80
Life insurance assets$19,137
Total liabilities and capital$0
Total liabilities$671,756
Total deposits$610,475
Interest-bearing deposits$554,627
Deposits held in domestic offices$482,232
% insured (estimated)554627.00%
Federal funds purchased & repurchase agreements $85
Trading liabilities$22,176
Other borrowed funds $0
Subordinated debt $22,776
All other liabilities $0
Total equity capital$10,896
Total bank equity capital$10,896
Perpetual preferred stock$61,281
Common stock$0
Undivided profits $22,331
Noncurrent loans and leases $36,104
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,455
Earning assets $2,679
Long-term assets (5+ years) $624,019
Average Assets, year-to-date $118,328
Average Assets, quarterly $630,386
Volatile liabilities $660,799
Insider loans $74,069
FHLB advances $9,140
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $74,460
Tier 2 risk-based capital $0
Total risk weighted assets $61,558
Total unused commitments $499,907
Restructured Loans and leases $0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $47,719
Net interest income $17,404
Provision for loan and lease losses $30,315
Total noninterest income $140
Fiduciary activities $4,714
Service charges on deposit accounts $491
Trading account gains & fees $2,445
Additional noninterest income $0
Total noninterest expense $1,778
Salaries and employee benefits $21,652
Premises and equipment expense $9,680
Additional noninterest expense $2,906
Pre-tax net operating income $9,066
Securities gains (losses) $13,237
Applicable income taxes $0
Income before extraordinary items $4,456
Extraordinary gains - net $8,781
Net income attributable to bank $0
Net charge-offs $8,781
Cash dividends $1,520
Sale, conversion, retirement of capital stock, net $4,335
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.19%
Net interest margin 2.99%
Noninterest income to earning assets 5.20%
Noninterest expense to earning assets 0.81%
Net operating income to assets 3.72%
Return on assets (ROA) 1.39%
Pretax return on assets 1.39%
Return on equity (ROE) 2.10%
Retained earnings to average equity (YTD only) 14.85%
Net charge-offs to loans 7.52%
Credit loss provision to net charge-offs 0.36%
Efficiency ratio9.21%
Assets per employee$61,706
Cash dividends to net income (YTD only)2.53%
Condition Ratios (%)
Loss allowance to loans 49.37%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 599.24%
Noncurrent loans to loans 0.39%
Net loans and leases to deposits0.32%
Net loans and leases to core deposits 79.47%
Equity capital to assets 85.88%
Core capital (leverage) ratio 9.12%
Tier 1 risk-based capital ratio 9.32%
Total risk-based capital ratio 12.31%
Average assets$14
Average earning assets$630,386
Average equity $59,119
Average loans $582,636
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