The First National Bank of Garrett in Garrett, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 26, 1996

  • The First National Bank of Garrett in Garrett, Pennsylvania (PA)
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The First National Bank of Garrett - Overview

  • General
  • FDIC Certificate #: 7887
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Promistar Bank (#14501)
    Federal Reserve ID: 348122
    Date Established: April 24, 1903
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 2 (Interstate: No)
    OTS Docket #: 11219
    FDIC's unique #: 5060
    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: June 26, 1996
    Last Structure Change Process Date: August 14, 1996
    Last Data Update: August 14, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: Jackson Street, Garrett, PA 15542
    County: Somerset
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Wexford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Johnstown, PA (#3680)
    Core Based Statistical Area (CBSA): Somerset, PA (#43740)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $44.3 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $22Total assets
  • $44,278Cash and due from depository institutions
  • $1,670Interest-bearing balances
  • $264Securities
  • $10,392Federal funds sold & reverse repurchase agreements
  • $2,765Net loans & leases
  • $28,158Loan loss allowance
  • $364Trading account assets
  • $0Bank premises and fixed assets
  • $779Other real estate owned
  • $0Goodwill and other intangibles
  • $373Life insurance assets
  • $141All other assets
  • $0Total liabilities and capital
  • $44,278Total liabilities
  • $39,868Total deposits
  • $39,551Interest-bearing deposits
  • $36,837Deposits held in domestic offices
  • 39551.00%% insured (estimated)
  • $98Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $317Total equity capital
  • $317Total bank equity capital
  • $4,410Perpetual preferred stock
  • $0Common stock
  • $150Surplus
  • $2,921Undivided profits
  • Memoranda
  • $1,339Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $63Income earned, not collected on loans
  • $190Earning assets
  • $41,579Long-term assets (5+ years)
  • $11,349Average Assets, year-to-date
  • $44,078Average Assets, quarterly
  • $44,061Volatile liabilities
  • $4,620Insider loans
  • $519FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $2,225Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $4,187Total risk weighted assets
  • $29,066Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $3,477Total interest expense
  • $1,764Net interest income
  • $1,713Provision for loan and lease losses
  • $103Total noninterest income
  • $109Fiduciary activities
  • $0Service charges on deposit accounts
  • $70Trading account gains & fees
  • $0Additional noninterest income
  • $39Total noninterest expense
  • $1,133Salaries and employee benefits
  • $600Premises and equipment expense
  • $118Additional noninterest expense
  • $415Pre-tax net operating income
  • $586Securities gains (losses)
  • $0Applicable income taxes
  • $144Income before extraordinary items
  • $442Extraordinary gains - net
  • $0Net income attributable to bank
  • $442Net charge-offs
  • $56Cash dividends
  • $233Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.39%Cost of funding earning assets
  • 4.25%Net interest margin
  • 4.13%Noninterest income to earning assets
  • 0.26%Noninterest expense to earning assets
  • 2.73%Net operating income to assets
  • 1.00%Return on assets (ROA)
  • 1.00%Pretax return on assets
  • 1.33%Return on equity (ROE)
  • 10.63%Retained earnings to average equity (YTD only)
  • 5.02%Net charge-offs to loans
  • 0.19%Credit loss provision to net charge-offs
  • 183.93%Efficiency ratio
  • 60,538Assets per employee
  • 2.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 52.71%Loss allowance to loans
  • 1.28%Loss allowance to noncurrent loans
  • 577.78%Noncurrent assets plus other real estate owned to assets
  • 0.14%Noncurrent loans to loans
  • 0.22%Net loans and leases to deposits
  • 71.19%Net loans and leases to core deposits
  • 80.61%Equity capital to assets
  • 9.96%Core capital (leverage) ratio
  • 9.53%Tier 1 risk-based capital ratio
  • 14.40%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $44,078Average earning assets
  • $4,159Average equity
  • $41,458Average loans

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