1st Bank of Sea Isle City in Sea Isle City, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • 1st Bank of Sea Isle City in Sea Isle City, New Jersey (NJ)
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1st Bank of Sea Isle City - Overview

  • General
  • FDIC Certificate #: 30367
    Status: Active
    Federal Reserve ID: 148470
    Date Established: January 01, 1882
    WWW: http://www.1stbankseaisle.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 5236
    FDIC's unique #: 43201
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: 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: Mortgage Lending Specialization
    Date of Deposit Insurance: November 30, 1948
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 4301 Landis Avenue, Sea Isle City, NJ 8243
    County: Cape May
    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): Atlantic-Cape May, NJ (#560)
    Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
    Core Based Statistical Area (CBSA): Ocean City, NJ (#36140)
    CBSA Metro Statistical Area: Ocean City, NJ (#36140)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $240.9 mil
    Equity capital: $19.6 mil
    Deposits held in domestic offices: $217.5 mil
    Return on assets (ROA): 0.64% ($1.5 mil)
    Quarterly return on assets: 0.62% ($1.5 mil)
    Return on Equity (ROE): 8.22% ($1.6 mil)
    Quarterly return on equity: 7.65% ($1.5 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.02% ($2,457.5 mil)
    Quarterly Pretax return on assets: 0.99% ($2,385.2 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
  • 38Total employees (full-time equivalent)
  • $240,928Total assets
  • $21,246Cash and due from depository institutions
  • $18,846Interest-bearing balances
  • $9,724Securities
  • $1,935Federal funds sold & reverse repurchase agreements
  • $191,060Net loans & leases
  • $1,155Loan loss allowance
  • $0Trading account assets
  • $6,262Bank premises and fixed assets
  • $1,746Other real estate owned
  • $0Goodwill and other intangibles
  • $240,928Life insurance assets
  • $8,955All other assets
  • $221,335Total liabilities and capital
  • $217,524Total liabilities
  • $190,231Total deposits
  • $217,524Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,811Subordinated debt
  • $19,593All other liabilities
  • $19,593Total equity capital
  • $19,593Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $99Surplus
  • $19,493Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,066Income earned, not collected on loans
  • $0Earning assets
  • $691Long-term assets (5+ years)
  • $221,565Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $242,311Volatile liabilities
  • $240,052Insider loans
  • $157,903FHLB advances
  • $240,928Loans and leases held for sale
  • $4,719Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $19,593Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $28,725Restructured Loans and leases
  • $10,268Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,223Total interest income
  • $2,308Total interest expense
  • $7,915Net interest income
  • $481Provision for loan and lease losses
  • $673Total noninterest income
  • $0Fiduciary activities
  • $66Service charges on deposit accounts
  • $0Trading account gains & fees
  • $607Additional noninterest income
  • $5,629Total noninterest expense
  • $3,200Salaries and employee benefits
  • $1,220Premises and equipment expense
  • $1,209Additional noninterest expense
  • $2,478Pre-tax net operating income
  • $0Securities gains (losses)
  • $930Applicable income taxes
  • $1,548Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,548Net income attributable to bank
  • $0Net charge-offs
  • $1,548Cash dividends
  • $218Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.59%Yield on earning assets
  • 1.04%Cost of funding earning assets
  • 3.55%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 2.53%Noninterest expense to earning assets
  • 0.64%Net operating income to assets
  • 0.64%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 8.22%Return on equity (ROE)
  • 8.22%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 220.64%Credit loss provision to net charge-offs
  • 13.57%Efficiency ratio
  • 65,545Assets per employee
  • 6.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.60%Loss allowance to noncurrent loans
  • 55.91%Noncurrent assets plus other real estate owned to assets
  • 1.58%Noncurrent loans to loans
  • 1.07%Net loans and leases to deposits
  • 87.83%Net loans and leases to core deposits
  • 91.12%Equity capital to assets
  • 8.13%Core capital (leverage) ratio
  • 8.13%Tier 1 risk-based capital ratio
  • 12.41%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $242,311Average earning assets
  • $18,829Average equity
  • $222,691Average loans

List of branches

  • 3 New Jersey Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0432011st Bank Of Sea Isle City4301 Landis Avenue, Sea Isle City, NJ 8243January 01, 1882Full Service Brick and Mortar
    1002801782072 Shore Rd Branch2072 S. Shore Road, Seaville, NJ 8230June 30, 1988Full Service Brick and Mortar
    102461013Swainton Branch1615 Route 9 North, Cape May Court House, NJ 8210September 26, 2005Full Service Brick and Mortar

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