FDIC Certificate #: 58668 Status: Active Federal Reserve ID: 3368925 Bank Holding Company (Regulatory Top Holder): Checkspring Community Corporation (RSSDID: 3368916, Location: Bronx, NY) Date Established: October 26, 2007 WWW:http://www.checkspring.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 462320 Numeric code: 21 Regulator: FDIC 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: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: October 26, 2007 Last Structure Change Effective Date: November 07, 2007 Last Structure Change Process Date: November 08, 2007 Last Data Update: November 08, 2007 Data Source Date: April 05, 2012
Location
Address: 69 East 167th Street, Bronx, NY 10452 County: Bronx 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): New York, NY (#5600) 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: New York-White Plains-Wayne, NY-NJ (#35644)
History of Changes
Change in Geographic Region/Area/Territory/Field Office
Financial Summary
Total assets: $63.4 mil Equity capital: $8.1 mil Deposits held in domestic offices: $54.7 mil Return on assets (ROA): 1.57% ($1.0 mil) Quarterly return on assets: 0.49% ($0.3 mil) Return on Equity (ROE): 11.56% ($0.9 mil) Quarterly return on equity: 3.67% ($0.3 mil) Net income: $0.9 mil Quarterly Net income: $0.1 mil Pretax return on assets: 1.61% ($1,020.4 mil) Quarterly Pretax return on assets: 0.53% ($335.9 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
33Total employees (full-time equivalent)
$63,376Total assets
$5,638Cash and due from depository institutions
$1Interest-bearing balances
$7,354Securities
$41Federal funds sold & reverse repurchase agreements
$46,975Net loans & leases
$598Loan loss allowance
$0Trading account assets
$825Bank premises and fixed assets
$0Other real estate owned
$1,143Goodwill and other intangibles
$63,376Life insurance assets
$1,400All other assets
$55,310Total liabilities and capital
$54,658Total liabilities
$49,965Total deposits
$54,658Interest-bearing deposits
$90Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$47Trading liabilities
$0Other borrowed funds
$605Subordinated debt
$8,066All other liabilities
$8,066Total equity capital
$8,066Total bank equity capital
$0Perpetual preferred stock
$4,700Common stock
$8,700Surplus
$-5,334Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$244Income earned, not collected on loans
$0Earning assets
$335Long-term assets (5+ years)
$54,371Average Assets, year-to-date
$8,286Average Assets, quarterly
$55,936Volatile liabilities
$60,475Insider loans
$41,044FHLB advances
$58,417Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$7,256Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$1,654Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,242Total interest income
$685Total interest expense
$2,557Net interest income
$151Provision for loan and lease losses
$2,668Total noninterest income
$0Fiduciary activities
$286Service charges on deposit accounts
$0Trading account gains & fees
$2,382Additional noninterest income
$4,231Total noninterest expense
$1,983Salaries and employee benefits
$787Premises and equipment expense
$1,461Additional noninterest expense
$843Pre-tax net operating income
$60Securities gains (losses)
$27Applicable income taxes
$876Income before extraordinary items
$0Extraordinary gains - net
$876Net income attributable to bank
$0Net charge-offs
$876Cash dividends
$1Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.79%Yield on earning assets
1.44%Cost of funding earning assets
5.36%Net interest margin
5.59%Noninterest income to earning assets
8.86%Noninterest expense to earning assets
1.46%Net operating income to assets
1.57%Return on assets (ROA)
1.61%Pretax return on assets
11.56%Return on equity (ROE)
11.56%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
15100.00%Credit loss provision to net charge-offs
994.00%Efficiency ratio
80,077Assets per employee
1.92%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.26%Loss allowance to noncurrent loans
245.08%Noncurrent assets plus other real estate owned to assets
0.39%Noncurrent loans to loans
0.51%Net loans and leases to deposits
85.94%Net loans and leases to core deposits
112.23%Equity capital to assets
12.73%Core capital (leverage) ratio
12.42%Tier 1 risk-based capital ratio
17.68%Total risk-based capital ratio
Memoranda
$19Average assets
$55,936Average earning assets
$7,576Average equity
$47,729Average loans
List of branches
1 New York Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
462320
Checkspring Bank
69 East 167th Street, Bronx, NY 10452
October 26, 2007
Full Service Brick and Mortar
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