The Elverson National Bank in Elverson, Pennsylvania (PA)



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The Elverson National Bank
GeneralFDIC Certificate #: 7490
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: National Penn Bank (#7414)
Federal Reserve ID: 547112
Date Established: January 01, 1915
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 10 (Interstate: No)
OTS Docket #: 10147
FDIC's unique #: 4863
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 04, 1999
Last Structure Change Process Date: Febuary 26, 1999
Last Data Update: Febuary 26, 1999
Data Source Date: April 05, 2012
LocationAddress: Route 23, Elverson, PA 19520
County: Chester
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Philadelphia
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: Philadelphia, PA (#37964)
Financial SummaryTotal assets: $324.7 mil

1992 - 1999 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, 1998)
(Dollar figures in thousands)
Total employees (full-time equivalent)112
Total assets$324,654
Cash and due from depository institutions$30,700
Interest-bearing balances$22,250
Securities$101,303
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$184,299
Loan loss allowance $3,489
Trading account assets$0
Bank premises and fixed assets$4,359
Other real estate owned$452
Goodwill and other intangibles$0
All other assets$3,541
Life insurance assets$0
Total liabilities and capital$324,654
Total liabilities$296,337
Total deposits$265,387
Interest-bearing deposits$217,659
Deposits held in domestic offices$265,387
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $13,722
Trading liabilities$0
Other borrowed funds $15,149
Subordinated debt $0
All other liabilities $2,079
Total equity capital$28,317
Total bank equity capital$28,317
Perpetual preferred stock$28,317
Common stock$0
Surplus$3,253
Undivided profits $17,681
Memoranda
Noncurrent loans and leases $7,383
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $1,642
Long-term assets (5+ years) $0
Average Assets, year-to-date $792
Average Assets, quarterly $307,852
Volatile liabilities $68,555
Insider loans $300,342
FHLB advances $319,096
Loans and leases held for sale $46,050
Unused loan commitments $2,215
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $144
Total unused commitments $42,615
Restructured Loans and leases $0
Derivatives$206,261
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $22,409
Total interest expense $9,843
Net interest income $12,566
Provision for loan and lease losses $860
Total noninterest income $1,706
Fiduciary activities $0
Service charges on deposit accounts $809
Trading account gains & fees $0
Additional noninterest income $897
Total noninterest expense $9,949
Salaries and employee benefits $5,003
Premises and equipment expense $1,744
Additional noninterest expense $3,202
Pre-tax net operating income $3,463
Securities gains (losses) $17
Applicable income taxes $1,045
Income before extraordinary items $2,435
Extraordinary gains - net $0
Net income attributable to bank $2,435
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $716
Net operating income $616
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.95%
Cost of funding earning assets 3.49%
Net interest margin 4.46%
Noninterest income to earning assets 0.61%
Noninterest expense to earning assets 3.53%
Net operating income to assets 0.81%
Return on assets (ROA) 0.81%
Pretax return on assets 1.16%
Return on equity (ROE) 8.91%
Retained earnings to average equity (YTD only) 6.66%
Net charge-offs to loans 0.36%
Credit loss provision to net charge-offs 120.11%
Efficiency ratio6.04%
Assets per employee$69,710
Cash dividends to net income (YTD only)2.90%
Condition Ratios (%)
Loss allowance to loans 25.30%
Loss allowance to noncurrent loans 1.86%
Noncurrent assets plus other real estate owned to assets 212.48%
Noncurrent loans to loans 0.64%
Net loans and leases to deposits0.87%
Net loans and leases to core deposits 69.45%
Equity capital to assets 74.30%
Core capital (leverage) ratio 8.72%
Tier 1 risk-based capital ratio 8.70%
Total risk-based capital ratio 13.50%
Memoranda
Average assets$15
Average earning assets$300,342
Average equity $27,328
Average loans $281,719
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