FDIC Certificate #: 28429 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Summit Bank (#550) Federal Reserve ID: 529677 Date Established: January 01, 1927 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 1573 FDIC's unique #: 41263 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes Oakar Institutions: Yes State Chartered: No Date of Deposit Insurance: April 23, 1943 Last Structure Change Effective Date: March 14, 1998 Last Structure Change Process Date: April 08, 1998 Last Data Update: April 08, 1998 Data Source Date: April 05, 2012
Location
Address: 158 Philadelphia Avenue, Egg Harbor, NJ 8215 County: Atlantic 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): Atlantic City-Hammonton, NJ (#12100) CBSA Metro Statistical Area: Atlantic City-Hammonton, NJ (#12100)
Financial Summary
Total assets: $3,950.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
1,005Total employees (full-time equivalent)
$3,950,708Total assets
$104,235Cash and due from depository institutions
$6,552Interest-bearing balances
$768,162Securities
$42,660Federal funds sold & reverse repurchase agreements
$2,854,676Net loans & leases
$8,283Loan loss allowance
$0Trading account assets
$38,207Bank premises and fixed assets
$1,920Other real estate owned
$36,627Goodwill and other intangibles
$0Life insurance assets
$104,221All other assets
$3,950,708Total liabilities and capital
$3,537,974Total liabilities
$3,498,826Total deposits
$3,323,110Interest-bearing deposits
$3,498,826Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$39,148All other liabilities
$412,734Total equity capital
$412,734Total bank equity capital
$412,734Perpetual preferred stock
$0Common stock
$0Surplus
$119,287Undivided profits
Memoranda
$293,447Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$17,858Earning assets
$0Long-term assets (5+ years)
$16,747Average Assets, year-to-date
$3,672,050Average Assets, quarterly
$0Volatile liabilities
$5,164,853Insider loans
$4,697,207FHLB advances
$312,184Loans and leases held for sale
$981Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$315,633Total unused commitments
$0Restructured Loans and leases
$1,915,970Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$358,257Total interest income
$212,349Total interest expense
$145,908Net interest income
$3,566Provision for loan and lease losses
$25,255Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$25,255Additional noninterest income
$72,716Total noninterest expense
$31,083Salaries and employee benefits
$16,094Premises and equipment expense
$25,539Additional noninterest expense
$94,881Pre-tax net operating income
$956Securities gains (losses)
$34,911Applicable income taxes
$60,926Income before extraordinary items
$0Extraordinary gains - net
$60,926Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5,591Sale, conversion, retirement of capital stock, net
$26,897Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.34%Yield on earning assets
4.35%Cost of funding earning assets
2.99%Net interest margin
0.52%Noninterest income to earning assets
1.49%Noninterest expense to earning assets
1.17%Net operating income to assets
1.18%Return on assets (ROA)
1.86%Pretax return on assets
15.36%Return on equity (ROE)
8.58%Retained earnings to average equity (YTD only)
0.19%Net charge-offs to loans
63.78%Credit loss provision to net charge-offs
17.61%Efficiency ratio
39,069Assets per employee
3.93%Cash dividends to net income (YTD only)
Condition Ratios (%)
44.15%Loss allowance to loans
0.29%Loss allowance to noncurrent loans
46.38%Noncurrent assets plus other real estate owned to assets
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Collective Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
