The Berkshire Bank in New York, New York (NY), NJ
| The Berkshire Bank | |
|---|---|
| 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 WWW: http://www.berkbank.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 116 |
| Total assets | $854,009 |
| Cash and due from depository institutions | $100,987 |
| Interest-bearing balances | $88,931 |
| Securities | $412,736 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $299,301 |
| Loan loss allowance | $17,720 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,284 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $37,701 |
| Life insurance assets | $854,009 |
| Total liabilities and capital | $721,836 |
| Total liabilities | $659,623 |
| Total deposits | $585,289 |
| Interest-bearing deposits | $659,623 |
| Deposits held in domestic offices | $82 |
| % insured (estimated) | 50000.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $6,139 |
| Other borrowed funds | $0 |
| Subordinated debt | $6,074 |
| All other liabilities | $132,173 |
| Total equity capital | $132,173 |
| Total bank equity capital | $132,173 |
| Perpetual preferred stock | $0 |
| Common stock | $3,617 |
| Surplus | $144,492 |
| Undivided profits | $-15,936 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $647 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $3,186 |
| Average Assets, year-to-date | $800,968 |
| Average Assets, quarterly | $368,858 |
| Volatile liabilities | $846,464 |
| Insider loans | $849,022 |
| FHLB advances | $398,330 |
| Loans and leases held for sale | $871,230 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $138,757 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $10,924 |
| Derivatives | $14,052 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $34,267 |
| Total interest expense | $8,181 |
| Net interest income | $26,086 |
| Provision for loan and lease losses | $1,600 |
| Total noninterest income | $43,815 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $479 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $43,336 |
| Total noninterest expense | $16,450 |
| Salaries and employee benefits | $9,144 |
| Premises and equipment expense | $3,278 |
| Additional noninterest expense | $4,028 |
| Pre-tax net operating income | $51,851 |
| Securities gains (losses) | $1,234 |
| Applicable income taxes | $1,455 |
| Income before extraordinary items | $51,630 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $51,630 |
| Net charge-offs | $0 |
| Cash dividends | $51,630 |
| Sale, conversion, retirement of capital stock, net | -$15 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.29% |
| Cost of funding earning assets | 1.02% |
| Net interest margin | 3.27% |
| Noninterest income to earning assets | 5.49% |
| Noninterest expense to earning assets | 2.06% |
| Net operating income to assets | 5.96% |
| Return on assets (ROA) | 6.10% |
| Pretax return on assets | 6.27% |
| Return on equity (ROE) | 45.86% |
| Retained earnings to average equity (YTD only) | 45.86% |
| Net charge-offs to loans | -0.00% |
| Credit loss provision to net charge-offs | -10666.67% |
| Efficiency ratio | 0.00% |
| Assets per employee | $23,533 |
| Cash dividends to net income (YTD only) | 7.36% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 5.59% |
| Noncurrent assets plus other real estate owned to assets | 2738.79% |
| Noncurrent loans to loans | 0.08% |
| Net loans and leases to deposits | 0.20% |
| Net loans and leases to core deposits | 45.37% |
| Equity capital to assets | 47.94% |
| Core capital (leverage) ratio | 15.48% |
| Tier 1 risk-based capital ratio | 15.93% |
| Total risk-based capital ratio | 34.83% |
| Memoranda | |
| Average assets | $36 |
| Average earning assets | $846,464 |
| Average equity | $112,586 |
| Average loans | $798,630 |
| 1 New Jersey Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 14 | 510595 | Teaneck Branch | 517 Cedaqr Lane, Teaneck, NJ 7666 | November 02, 2009 | Full Service Brick and Mortar |  |
| 12 New York Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 40236 | The Berkshire Bank | 4 East 39th Street, New York, NY 10016 | May 08, 1989 | Full Service Brick and Mortar |  |
| 1 | 262161 | Brooklyn Branch | 5010 13th Avenue, New York City, NY 11219 | July 14, 1995 | Full Service Brick and Mortar | |
| 2 | 359326 | 5 Broadway Branch | 5 Broadway, New York, NY 10004 | January 29, 2001 | Full Service Brick and Mortar | |
| 3 | 10198 | Goshen Savings Bank Branch | 2 South Church Street, Goshen, NY 10924 | April 08, 1871 | Full Service Brick and Mortar | |
| 4 | 236255 | South Church Street Branch | 50 South Church Street, Goshen, NY 10924 | May 24, 1988 | Limited Service Facility | |
| 5 | 236256 | G. Arden Life Care Ret. Com. Branch | 214 Harriman Drive, Goshen, NY 10924 | March 25, 1997 | Full Service Brick and Mortar | |
| 6 | 356800 | Harriman Branch | 80 Route 17m, Harriman, NY 10926 | September 21, 1998 | Full Service Brick and Mortar | |
| 7 | 359465 | Bloomingburg Branch | 60 Main Street (Route 17m), Bloomingburg, NY 12721 | September 13, 2000 | Full Service Brick and Mortar | |
| 9 | 420274 | Kings Highway Branch | 1421 Kings Highway, Brooklyn, NY 11229 | April 08, 2003 | Full Service Brick and Mortar | |
| 10 | 420276 | 16th Avenue Branch | 4917 16th Avenue, Brooklyn, NY 11204 | June 04, 2003 | Full Service Brick and Mortar | |
| 11 | 446312 | 1119 Avenue J | 1119 Avenue J, Brooklyn, NY 11230 | December 28, 2005 | Full Service Brick and Mortar | |
| 13 | 466475 | Washington Heights Branch | 210 Pinehurst Avenue, New York, NY 10033 | May 29, 2007 | Full Service Retail | |
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