Union Center National Bank in Union, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Union Center National Bank in Union, New Jersey (NJ)
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Union Center National Bank - Overview

  • General
  • FDIC Certificate #: 6431
    Status: Active
    Federal Reserve ID: 29104
    Bank Holding Company (Regulatory Top Holder): Center Bancorp, Inc. (RSSDID: 1048764, Location: Union, NJ)
    Date Established: September 24, 1923
    WWW: http://www.ucnb.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 11 (Domestic: 11, Interstate: No)
    FDIC's unique #: 4307
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 2455 Morris Avenue, Union, NJ 7083
    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)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $1,432.2 mil
    Equity capital: $139.1 mil
    Deposits held in domestic offices: $1,123.5 mil
    Return on assets (ROA): 1.08% ($15.5 mil)
    Quarterly return on assets: 1.05% ($15.0 mil)
    Return on Equity (ROE): 10.84% ($15.1 mil)
    Quarterly return on equity: 10.69% ($14.9 mil)
    Net income: $14.2 mil
    Quarterly Net income: $3.7 mil
    Pretax return on assets: 1.65% ($23,631.3 mil)
    Quarterly Pretax return on assets: 1.60% ($22,915.2 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, 2011)

  • Dollar figures in thousands
  • 163Total employees (full-time equivalent)
  • $1,432,198Total assets
  • $111,101Cash and due from depository institutions
  • $107,513Interest-bearing balances
  • $486,476Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $746,408Net loans & leases
  • $9,602Loan loss allowance
  • $0Trading account assets
  • $12,327Bank premises and fixed assets
  • $591Other real estate owned
  • $16,902Goodwill and other intangibles
  • $1,432,198Life insurance assets
  • $58,393All other assets
  • $1,293,092Total liabilities and capital
  • $1,123,457Total liabilities
  • $1,077,603Total deposits
  • $1,123,457Interest-bearing deposits
  • $65Deposits held in domestic offices
  • 41000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $120,000Trading liabilities
  • $0Other borrowed funds
  • $8,635Subordinated debt
  • $139,106All other liabilities
  • $139,106Total equity capital
  • $139,106Total bank equity capital
  • $0Perpetual preferred stock
  • $2,000Common stock
  • $71,451Surplus
  • $65,655Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,018Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,900Income earned, not collected on loans
  • $0Earning assets
  • $6,219Long-term assets (5+ years)
  • $1,340,397Average Assets, year-to-date
  • $624,547Average Assets, quarterly
  • $1,322,054Volatile liabilities
  • $1,404,091Insider loans
  • $1,079,029FHLB advances
  • $1,393,175Loans and leases held for sale
  • $28,943Unused loan commitments
  • $20,045Tier 1 (core) risk-based capital
  • $127,473Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $8,898Total unused commitments
  • $178,857Restructured Loans and leases
  • $10,298Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $51,925Total interest income
  • $12,017Total interest expense
  • $39,908Net interest income
  • $2,448Provision for loan and lease losses
  • $3,845Total noninterest income
  • $0Fiduciary activities
  • $1,198Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,647Additional noninterest income
  • $23,119Total noninterest expense
  • $11,527Salaries and employee benefits
  • $2,947Premises and equipment expense
  • $8,645Additional noninterest expense
  • $18,186Pre-tax net operating income
  • $3,634Securities gains (losses)
  • $7,579Applicable income taxes
  • $14,241Income before extraordinary items
  • $0Extraordinary gains - net
  • $14,241Net income attributable to bank
  • $0Net charge-offs
  • $14,241Cash dividends
  • $1,713Sale, conversion, retirement of capital stock, net
  • $786Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.26%Yield on earning assets
  • 0.99%Cost of funding earning assets
  • 3.28%Net interest margin
  • 0.32%Noninterest income to earning assets
  • 1.90%Noninterest expense to earning assets
  • 0.90%Net operating income to assets
  • 1.08%Return on assets (ROA)
  • 1.65%Pretax return on assets
  • 10.84%Return on equity (ROE)
  • 10.24%Retained earnings to average equity (YTD only)
  • 0.24%Net charge-offs to loans
  • 142.91%Credit loss provision to net charge-offs
  • 12.05%Efficiency ratio
  • 52,712Assets per employee
  • 8.79%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 5.52%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 121.54%Noncurrent assets plus other real estate owned to assets
  • 0.59%Noncurrent loans to loans
  • 1.04%Net loans and leases to deposits
  • 66.44%Net loans and leases to core deposits
  • 81.49%Equity capital to assets
  • 9.71%Core capital (leverage) ratio
  • 9.15%Tier 1 risk-based capital ratio
  • 11.81%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $1,322,054Average earning assets
  • $131,337Average equity
  • $1,218,290Average loans

Total Fiduciary and Related Assets (December 31, 2005)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $254Managed Assets
  • 1Number of Accounts
  • $254Personal trust and agency accounts
  • $254Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 11 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04307Union Center National Bank2455 Morris Avenue, Union, NJ 7083September 24, 1923Full Service Brick and Mortar
    2210093Five Points Branch356 Chestnut Street, Union, NJ 7083November 10, 1958Full Service Brick and Mortar
    3210094Corporate Branch2455 Morris Avenue, Union, NJ 7083April 19, 1960Full Service Brick and Mortar
    5210096Springfield Branch783 Mountain Avenue, Springfield, NJ 7081January 31, 1977Full Service Brick and Mortar
    6210097Career Center BranchNorth Third Street, Township Of Union, NJ 7083April 27, 1992Full Service Brick and Mortar
    7210098Berkeley Heights Branch512 Springfield Avenue, Berkeley Heights, NJ 7922June 01, 1992Full Service Brick and Mortar
    8210099Madison Banking Center Branch300 Main Street, Madison, NJ 7940June 10, 1996Full Service Brick and Mortar
    11288339Millburn Branch2933 Vauxhall Road, Vauxhall, NJ 7088March 01, 1992Full Service Brick and Mortar
    13210101Summit Banking Center Branch545 Morris Ave, Summit, NJ 7901June 19, 1999Full Service Brick and Mortar
    14363670Town Hall Branch214 South Street, Morristown, NJ 7960April 08, 2002Full Service Brick and Mortar
    16456638Mountain Lakes/Boonton Branch104 Ely Place, Boonton, NJ 7005October 03, 2006Full Service Brick and Mortar

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