Broad National Bank in Newark, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 31, 1999

  • Broad National Bank in Newark, New Jersey (NJ)
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Broad National Bank - Overview

  • General
  • FDIC Certificate #: 6388
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Independence Community Bank (#16018)
    Federal Reserve ID: 683908
    Date Established: June 28, 1925
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 18 (Interstate: No)
    OTS Docket #: 13031
    FDIC's unique #: 4289
    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: July 31, 1999
    Last Structure Change Process Date: September 10, 1999
    Last Data Update: September 10, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 905 Broad Street, Newark, NJ 7102
    County: Essex
    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: $653.7 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 226Total employees (full-time equivalent)
  • $684,212Total assets
  • $45,693Cash and due from depository institutions
  • $0Interest-bearing balances
  • $264,777Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $351,896Net loans & leases
  • $8,246Loan loss allowance
  • $0Trading account assets
  • $9,862Bank premises and fixed assets
  • $293Other real estate owned
  • $166Goodwill and other intangibles
  • $0Life insurance assets
  • $11,525All other assets
  • $684,212Total liabilities and capital
  • $631,162Total liabilities
  • $577,389Total deposits
  • $524,101Interest-bearing deposits
  • $577,389Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $4,051Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $36,600Other borrowed funds
  • $0Subordinated debt
  • $13,122All other liabilities
  • $53,050Total equity capital
  • $53,050Total bank equity capital
  • $53,050Perpetual preferred stock
  • $0Common stock
  • $3,000Surplus
  • $10,850Undivided profits
  • Memoranda
  • $39,200Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,082Earning assets
  • $0Long-term assets (5+ years)
  • $2,195Average Assets, year-to-date
  • $616,673Average Assets, quarterly
  • $429,374Volatile liabilities
  • $630,411Insider loans
  • $652,940FHLB advances
  • $135,531Loans and leases held for sale
  • $5,294Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $74,229Total unused commitments
  • $0Restructured Loans and leases
  • $427,112Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $45,794Total interest income
  • $17,521Total interest expense
  • $28,273Net interest income
  • $975Provision for loan and lease losses
  • $7,029Total noninterest income
  • $0Fiduciary activities
  • $6,054Service charges on deposit accounts
  • $0Trading account gains & fees
  • $975Additional noninterest income
  • $20,791Total noninterest expense
  • $11,703Salaries and employee benefits
  • $3,115Premises and equipment expense
  • $5,973Additional noninterest expense
  • $13,536Pre-tax net operating income
  • $23Securities gains (losses)
  • $4,309Applicable income taxes
  • $9,250Income before extraordinary items
  • $0Extraordinary gains - net
  • $9,250Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$297Sale, conversion, retirement of capital stock, net
  • $2,160Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.86%Yield on earning assets
  • 3.01%Cost of funding earning assets
  • 4.85%Net interest margin
  • 1.21%Noninterest income to earning assets
  • 3.57%Noninterest expense to earning assets
  • 1.46%Net operating income to assets
  • 1.47%Return on assets (ROA)
  • 2.15%Pretax return on assets
  • 18.67%Return on equity (ROE)
  • 14.31%Retained earnings to average equity (YTD only)
  • -0.09%Net charge-offs to loans
  • -328.28%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 58,852Assets per employee
  • 3.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 23.35%Loss allowance to loans
  • 2.29%Loss allowance to noncurrent loans
  • 396.06%Noncurrent assets plus other real estate owned to assets
  • 0.35%Noncurrent loans to loans
  • 0.58%Net loans and leases to deposits
  • 60.95%Net loans and leases to core deposits
  • 72.93%Equity capital to assets
  • 7.75%Core capital (leverage) ratio
  • 7.76%Tier 1 risk-based capital ratio
  • 12.05%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $630,411Average earning assets
  • $49,544Average equity
  • $582,642Average loans

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