The Berkshire Bank in New York, New York (NY), NJ
Overview, Financial Summary, Detailed Financial Reports, Branches

The Berkshire Bank - Overview

  • General
  • FDIC Certificate #: 27503
    Status: Active
    Federal Reserve ID: 1396764
    Bank Holding Company (Regulatory Top Holder): Berkshire Bancorp Inc. (RSSDID: 2728157, Location: New York, NY)
    Date Established: May 08, 1989
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 13 (Domestic: 13, Interstate: Yes)
    OTS Docket #: 14486
    FDIC's unique #: 40236
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
    Date of Deposit Insurance: May 08, 1989
    Last Structure Change Effective Date: May 15, 2006
    Last Structure Change Process Date: June 07, 2006
    Last Data Update: June 07, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 4 East 39th Street, New York, NY 10016
    County: New York
    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): New York, NY (#5600)
    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
  • Office Purchased
    Change in Insurance Status
  • Financial Summary
  • Total assets: $854.0 mil
    Equity capital: $132.2 mil
    Deposits held in domestic offices: $659.6 mil
    Return on assets (ROA): 6.10% ($52.1 mil)
    Quarterly return on assets: 1.45% ($12.4 mil)
    Return on Equity (ROE): 45.86% ($60.5 mil)
    Quarterly return on equity: 9.42% ($12.4 mil)
    Net income: $51.6 mil
    Quarterly Net income: $3.1 mil
    Pretax return on assets: 6.27% ($53,546.4 mil)
    Quarterly Pretax return on assets: 1.22% ($10,418.9 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, 2011)

  • Dollar figures in thousands
  • 116Total employees (full-time equivalent)
  • $854,009Total assets
  • $100,987Cash and due from depository institutions
  • $88,931Interest-bearing balances
  • $412,736Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $299,301Net loans & leases
  • $17,720Loan loss allowance
  • $0Trading account assets
  • $3,284Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $854,009Life insurance assets
  • $37,701All other assets
  • $721,836Total liabilities and capital
  • $659,623Total liabilities
  • $585,289Total deposits
  • $659,623Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 50000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,139Trading liabilities
  • $0Other borrowed funds
  • $6,074Subordinated debt
  • $132,173All other liabilities
  • $132,173Total equity capital
  • $132,173Total bank equity capital
  • $0Perpetual preferred stock
  • $3,617Common stock
  • $144,492Surplus
  • $-15,936Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $647Income earned, not collected on loans
  • $0Earning assets
  • $3,186Long-term assets (5+ years)
  • $800,968Average Assets, year-to-date
  • $368,858Average Assets, quarterly
  • $846,464Volatile liabilities
  • $849,022Insider loans
  • $398,330FHLB advances
  • $871,230Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $138,757Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,924Restructured Loans and leases
  • $14,052Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $34,267Total interest income
  • $8,181Total interest expense
  • $26,086Net interest income
  • $1,600Provision for loan and lease losses
  • $43,815Total noninterest income
  • $0Fiduciary activities
  • $479Service charges on deposit accounts
  • $0Trading account gains & fees
  • $43,336Additional noninterest income
  • $16,450Total noninterest expense
  • $9,144Salaries and employee benefits
  • $3,278Premises and equipment expense
  • $4,028Additional noninterest expense
  • $51,851Pre-tax net operating income
  • $1,234Securities gains (losses)
  • $1,455Applicable income taxes
  • $51,630Income before extraordinary items
  • $0Extraordinary gains - net
  • $51,630Net income attributable to bank
  • $0Net charge-offs
  • $51,630Cash dividends
  • -$15Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.29%Yield on earning assets
  • 1.02%Cost of funding earning assets
  • 3.27%Net interest margin
  • 5.49%Noninterest income to earning assets
  • 2.06%Noninterest expense to earning assets
  • 5.96%Net operating income to assets
  • 6.10%Return on assets (ROA)
  • 6.27%Pretax return on assets
  • 45.86%Return on equity (ROE)
  • 45.86%Retained earnings to average equity (YTD only)
  • -0.00%Net charge-offs to loans
  • -10666.67%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 23,533Assets per employee
  • 7.36%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.59%Loss allowance to noncurrent loans
  • 2738.79%Noncurrent assets plus other real estate owned to assets
  • 0.08%Noncurrent loans to loans
  • 0.20%Net loans and leases to deposits
  • 45.37%Net loans and leases to core deposits
  • 47.94%Equity capital to assets
  • 15.48%Core capital (leverage) ratio
  • 15.93%Tier 1 risk-based capital ratio
  • 34.83%Total risk-based capital ratio
  • Memoranda
  • $36Average assets
  • $846,464Average earning assets
  • $112,586Average equity
  • $798,630Average loans

List of branches

  • 1 New Jersey Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    14510595Teaneck Branch517 Cedaqr Lane, Teaneck, NJ 7666November 02, 2009Full Service Brick and Mortar
  • 12 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    040236The Berkshire Bank4 East 39th Street, New York, NY 10016May 08, 1989Full Service Brick and Mortar
    1262161Brooklyn Branch5010 13th Avenue, New York City, NY 11219July 14, 1995Full Service Brick and Mortar
    23593265 Broadway Branch5 Broadway, New York, NY 10004January 29, 2001Full Service Brick and Mortar
    310198Goshen Savings Bank Branch2 South Church Street, Goshen, NY 10924April 08, 1871Full Service Brick and Mortar
    4236255South Church Street Branch50 South Church Street, Goshen, NY 10924May 24, 1988Limited Service Facility
    5236256G. Arden Life Care Ret. Com. Branch214 Harriman Drive, Goshen, NY 10924March 25, 1997Full Service Brick and Mortar
    6356800Harriman Branch80 Route 17m, Harriman, NY 10926September 21, 1998Full Service Brick and Mortar
    7359465Bloomingburg Branch60 Main Street (Route 17m), Bloomingburg, NY 12721September 13, 2000Full Service Brick and Mortar
    9420274Kings Highway Branch1421 Kings Highway, Brooklyn, NY 11229April 08, 2003Full Service Brick and Mortar
    1042027616th Avenue Branch4917 16th Avenue, Brooklyn, NY 11204June 04, 2003Full Service Brick and Mortar
    114463121119 Avenue J1119 Avenue J, Brooklyn, NY 11230December 28, 2005Full Service Brick and Mortar
    13466475Washington Heights Branch210 Pinehurst Avenue, New York, NY 10033May 29, 2007Full Service Retail

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