The Warwick Savings Bank in Warwick, New York (NY)



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The Warwick Savings Bank
GeneralFDIC Certificate #: 15988
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Provident Bank (#30337)
Federal Reserve ID: 588517
Date Established: January 01, 1875
WWW: http://www.warwicksb.com
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 7 (Interstate: No)
OTS Docket #: 12905
FDIC's unique #: 10219
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
FDIC Insured: Yes
Insured Savings Institution: Yes
State Chartered: Yes
Date of Deposit Insurance: July 01, 1943
Last Structure Change Effective Date: October 01, 2004
Last Structure Change Process Date: January 13, 2005
Last Data Update: January 13, 2005
Data Source Date: April 05, 2012
LocationAddress: 18 Oakland Avenue, Warwick, NY 10990
County: Orange
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): Newburgh, NY-PA (#5660)
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): Poughkeepsie-Newburgh-Middletown, NY (#39100)
CBSA Metro Statistical Area: Poughkeepsie-Newburgh-Middletown, NY (#39100)
Financial SummaryTotal assets: $667.2 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, 2003)
(Dollar figures in thousands)
Total employees (full-time equivalent)123
Total assets$714,207
Cash and due from depository institutions$53,888
Interest-bearing balances$37,467
Securities$337,676
Federal funds sold & reverse repurchase agreements$2,805
Net loans & leases$279,196
Loan loss allowance $4,480
Trading account assets$0
Bank premises and fixed assets$8,366
Other real estate owned$505
Goodwill and other intangibles$1,517
All other assets$30,254
Life insurance assets$0
Total liabilities and capital$714,207
Total liabilities$657,285
Total deposits$462,962
Interest-bearing deposits$431,875
Deposits held in domestic offices$462,962
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $19,895
Trading liabilities$0
Other borrowed funds $166,667
Subordinated debt $0
All other liabilities $7,761
Total equity capital$56,922
Total bank equity capital$56,922
Perpetual preferred stock$56,922
Common stock$0
Surplus$0
Undivided profits $38,525
Memoranda
Noncurrent loans and leases $18,397
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $68,628
Income earned, not collected on loans $0
Earning assets $2,211
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,987
Average Assets, quarterly $657,144
Volatile liabilities $326,225
Insider loans $747,849
FHLB advances $719,372
Loans and leases held for sale $43,392
Unused loan commitments $191
Tier 1 (core) risk-based capital $163,600
Tier 2 risk-based capital $0
Total risk weighted assets $445
Total unused commitments $68,628
Restructured Loans and leases $0
Derivatives$4,396
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Income and Expense (December 31, 2003)
(Dollar figures in thousands)
Total interest income $36,644
Total interest expense $17,053
Net interest income $19,591
Provision for loan and lease losses $65
Total noninterest income $4,629
Fiduciary activities $0
Service charges on deposit accounts $1,954
Trading account gains & fees $0
Additional noninterest income $2,675
Total noninterest expense $15,559
Salaries and employee benefits $8,741
Premises and equipment expense $1,703
Additional noninterest expense $5,115
Pre-tax net operating income $8,596
Securities gains (losses) $339
Applicable income taxes $3,229
Income before extraordinary items $5,706
Extraordinary gains - net $0
Net income attributable to bank $5,706
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $95
Net operating income $12,900
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Performance and Condition Ratios (December 31, 2003)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.31%
Cost of funding earning assets 2.47%
Net interest margin 2.84%
Noninterest income to earning assets 0.67%
Noninterest expense to earning assets 2.26%
Net operating income to assets 0.73%
Return on assets (ROA) 0.76%
Pretax return on assets 1.19%
Return on equity (ROE) 9.41%
Retained earnings to average equity (YTD only) -11.87%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 68.42%
Efficiency ratio91.17%
Assets per employee$63,386
Cash dividends to net income (YTD only)5.81%
Condition Ratios (%)
Loss allowance to loans 226.08%
Loss allowance to noncurrent loans 1.58%
Noncurrent assets plus other real estate owned to assets 202.62%
Noncurrent loans to loans 0.38%
Net loans and leases to deposits0.78%
Net loans and leases to core deposits 60.31%
Equity capital to assets 61.91%
Core capital (leverage) ratio 7.97%
Tier 1 risk-based capital ratio 7.77%
Total risk-based capital ratio 15.81%
Memoranda
Average assets$17
Average earning assets$747,849
Average equity $60,616
Average loans $689,666
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