The Town Bank in Westfield, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 31, 2008

  • The Town Bank in Westfield, New Jersey (NJ)
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The Town Bank - Overview

  • General
  • FDIC Certificate #: 34655
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Two River Community Bank (#35426)
    Federal Reserve ID: 2729770
    Date Established: October 05, 1998
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 61032
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: October 05, 1998
    Last Structure Change Effective Date: December 31, 2008
    Last Structure Change Process Date: January 22, 2009
    Last Data Update: January 22, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 520 South Avenue, Westfield, NJ 7090
    County: Union
    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): Newark, NJ (#5640)
    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: Newark-Union, NJ-PA (#35084)
  • Financial Summary
  • Total assets: $211.6 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, 2007)

  • Dollar figures in thousands
  • 26Total employees (full-time equivalent)
  • $211,060Total assets
  • $3,718Cash and due from depository institutions
  • $0Interest-bearing balances
  • $18,520Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $158,264Net loans & leases
  • $1,850Loan loss allowance
  • $0Trading account assets
  • $2,926Bank premises and fixed assets
  • $0Other real estate owned
  • $26,299Goodwill and other intangibles
  • $0Life insurance assets
  • $1,333All other assets
  • $211,060Total liabilities and capital
  • $166,843Total liabilities
  • $160,126Total deposits
  • $140,445Interest-bearing deposits
  • $160,126Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $5,764Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $953All other liabilities
  • $44,217Total equity capital
  • $44,217Total bank equity capital
  • $44,217Perpetual preferred stock
  • $0Common stock
  • $9,391Surplus
  • $31,633Undivided profits
  • Memoranda
  • $3,193Noncurrent loans and leases
  • $20,595Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $800Earning assets
  • $0Long-term assets (5+ years)
  • $1,076Average Assets, year-to-date
  • $176,784Average Assets, quarterly
  • $10,585Volatile liabilities
  • $213,936Insider loans
  • $213,833FHLB advances
  • $53,366Loans and leases held for sale
  • $7,736Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $20,595Total unused commitments
  • $0Restructured Loans and leases
  • $1,850Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $14,705Total interest income
  • $6,717Total interest expense
  • $7,988Net interest income
  • $3Provision for loan and lease losses
  • $245Total noninterest income
  • $0Fiduciary activities
  • $109Service charges on deposit accounts
  • $0Trading account gains & fees
  • $136Additional noninterest income
  • $5,240Total noninterest expense
  • $2,821Salaries and employee benefits
  • $531Premises and equipment expense
  • $1,888Additional noninterest expense
  • $2,990Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,235Applicable income taxes
  • $1,755Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,755Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $500Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.14%Yield on earning assets
  • 3.72%Cost of funding earning assets
  • 4.42%Net interest margin
  • 0.14%Noninterest income to earning assets
  • 2.90%Noninterest expense to earning assets
  • 0.82%Net operating income to assets
  • 0.82%Return on assets (ROA)
  • 1.40%Pretax return on assets
  • 4.02%Return on equity (ROE)
  • 2.88%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 59,347Assets per employee
  • 8.12%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 28.49%Loss allowance to loans
  • 1.16%Loss allowance to noncurrent loans
  • 231.25%Noncurrent assets plus other real estate owned to assets
  • 0.38%Noncurrent loans to loans
  • 0.50%Net loans and leases to deposits
  • 98.84%Net loans and leases to core deposits
  • 140.65%Equity capital to assets
  • 20.95%Core capital (leverage) ratio
  • 9.48%Tier 1 risk-based capital ratio
  • 11.25%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $213,936Average earning assets
  • $43,621Average equity
  • $180,643Average loans

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