The Farmers and Merchants National Bank of Bridgeton in Bridgeton, New Jersey (NJ)



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The Farmers and Merchants National Bank of Bridgeton
GeneralFDIC Certificate #: 6455
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Hudson United Bank (#12256)
Federal Reserve ID: 197517
Date Established: September 01, 1909
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 16 (Interstate: No)
FDIC's unique #: 4318
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: December 01, 1999
Last Structure Change Process Date: Febuary 11, 2000
Last Data Update: Febuary 11, 2000
Data Source Date: April 05, 2012
LocationAddress: 53 South Laurel Street, Bridgeton, NJ 8302
County: Cumberland
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): Vineland-Millville-Bridgeton, NJ (#8760)
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): Vineland-Millville-Bridgeton, NJ (#47220)
CBSA Metro Statistical Area: Vineland-Millville-Bridgeton, NJ (#47220)
Financial SummaryTotal assets: $425.4 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)214
Total assets$480,420
Cash and due from depository institutions$19,809
Interest-bearing balances$2,450
Securities$98,974
Federal funds sold & reverse repurchase agreements$67,700
Net loans & leases$258,755
Loan loss allowance $10,138
Trading account assets$0
Bank premises and fixed assets$6,994
Other real estate owned$1,010
Goodwill and other intangibles$0
All other assets$27,178
Life insurance assets$0
Total liabilities and capital$480,420
Total liabilities$450,571
Total deposits$445,566
Interest-bearing deposits$380,179
Deposits held in domestic offices$445,566
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $5,005
Total equity capital$29,849
Total bank equity capital$29,849
Perpetual preferred stock$29,849
Common stock$0
Surplus$2,125
Undivided profits $2,150
Memoranda
Noncurrent loans and leases $25,574
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $17,043
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,194
Average Assets, quarterly $427,879
Volatile liabilities $130,234
Insider loans $475,738
FHLB advances $472,530
Loans and leases held for sale $66,106
Unused loan commitments $3,144
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $20,291
Restructured Loans and leases $0
Derivatives$320,356
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $33,212
Total interest expense $18,390
Net interest income $14,822
Provision for loan and lease losses $15,420
Total noninterest income $3,509
Fiduciary activities $834
Service charges on deposit accounts $1,707
Trading account gains & fees $0
Additional noninterest income $968
Total noninterest expense $14,589
Salaries and employee benefits $6,575
Premises and equipment expense $2,196
Additional noninterest expense $5,818
Pre-tax net operating income -$11,678
Securities gains (losses) $0
Applicable income taxes -$4,888
Income before extraordinary items -$6,790
Extraordinary gains - net $0
Net income attributable to bank -$6,790
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $10,518
Net operating income $327
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.79%
Cost of funding earning assets 4.31%
Net interest margin 3.48%
Noninterest income to earning assets 0.82%
Noninterest expense to earning assets 3.42%
Net operating income to assets -1.43%
Return on assets (ROA) -1.43%
Pretax return on assets -2.45%
Return on equity (ROE) -19.89%
Retained earnings to average equity (YTD only) -20.84%
Net charge-offs to loans 3.64%
Credit loss provision to net charge-offs 146.61%
Efficiency ratio0.36%
Assets per employee$79,586
Cash dividends to net income (YTD only)2.24%
Condition Ratios (%)
Loss allowance to loans -4.82%
Loss allowance to noncurrent loans 3.77%
Noncurrent assets plus other real estate owned to assets 59.48%
Noncurrent loans to loans 3.76%
Net loans and leases to deposits6.34%
Net loans and leases to core deposits 58.07%
Equity capital to assets 68.19%
Core capital (leverage) ratio 6.21%
Tier 1 risk-based capital ratio 5.50%
Total risk-based capital ratio 8.23%
Memoranda
Average assets$10
Average earning assets$475,738
Average equity $34,146
Average loans $426,201
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