Corestates Bank, National Association in Philadelphia, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 15, 1998

  • Corestates Bank, National Association in Philadelphia, Pennsylvania (PA)
  • Show street view No street view available for this location

Corestates Bank, National Association - Overview

  • General
  • FDIC Certificate #: 719
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Wachovia Bank, National Association (#33869)
    Federal Reserve ID: 298816
    Date Established: January 01, 1782
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 596 (Interstate: No)
    OTS Docket #: 12645
    FDIC's unique #: 460
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: May 15, 1998
    Last Structure Change Process Date: June 08, 1998
    Last Data Update: June 08, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: Broad And Chestnut Streets, Philadelphia, PA 19101
    County: Philadelphia
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Philadelphia
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Philadelphia, PA-NJ (#6160)
    Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
    Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
    Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    Core Based Statistical Division: Philadelphia, PA (#37964)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $44,871.2 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 15,499Total employees (full-time equivalent)
  • $45,408,502Total assets
  • $6,934,084Cash and due from depository institutions
  • $3,120,007Interest-bearing balances
  • $3,280,912Securities
  • $451,682Federal funds sold & reverse repurchase agreements
  • $31,857,327Net loans & leases
  • $511,144Loan loss allowance
  • $256,922Trading account assets
  • $578,066Bank premises and fixed assets
  • $13,713Other real estate owned
  • $229,393Goodwill and other intangibles
  • $0Life insurance assets
  • $1,806,403All other assets
  • $45,408,502Total liabilities and capital
  • $42,276,403Total liabilities
  • $35,147,446Total deposits
  • $24,185,179Interest-bearing deposits
  • $32,388,848Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,983,743Federal funds purchased & repurchase agreements
  • $56,968Trading liabilities
  • $2,299,967Other borrowed funds
  • $505,000Subordinated debt
  • $2,283,279All other liabilities
  • $3,132,099Total equity capital
  • $3,132,099Total bank equity capital
  • $3,132,099Perpetual preferred stock
  • $0Common stock
  • $37,308Surplus
  • $2,369,513Undivided profits
  • Memoranda
  • $725,278Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $319,945Earning assets
  • $0Long-term assets (5+ years)
  • $197,682Average Assets, year-to-date
  • $38,903,207Average Assets, quarterly
  • $3,687,694Volatile liabilities
  • $43,743,289Insider loans
  • $44,919,055FHLB advances
  • $9,393,812Loans and leases held for sale
  • $457,537Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $140,769Total risk weighted assets
  • $15,967,177Total unused commitments
  • $0Restructured Loans and leases
  • $42,741,630Derivatives
  • $6,584,952Total assets and liabilities in foreign offices

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $2,889,153Total interest income
  • $1,120,035Total interest expense
  • $1,769,118Net interest income
  • $57,421Provision for loan and lease losses
  • $782,543Total noninterest income
  • $131,061Fiduciary activities
  • $230,752Service charges on deposit accounts
  • $27,922Trading account gains & fees
  • $392,808Additional noninterest income
  • $1,569,035Total noninterest expense
  • $659,832Salaries and employee benefits
  • $222,888Premises and equipment expense
  • $686,315Additional noninterest expense
  • $925,205Pre-tax net operating income
  • -$1,719Securities gains (losses)
  • $204,684Applicable income taxes
  • $718,802Income before extraordinary items
  • $0Extraordinary gains - net
  • $718,802Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $118,960Sale, conversion, retirement of capital stock, net
  • $625,000Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.70%Yield on earning assets
  • 2.98%Cost of funding earning assets
  • 4.71%Net interest margin
  • 2.09%Noninterest income to earning assets
  • 4.18%Noninterest expense to earning assets
  • 1.65%Net operating income to assets
  • 1.64%Return on assets (ROA)
  • 2.11%Pretax return on assets
  • 22.80%Return on equity (ROE)
  • 2.98%Retained earnings to average equity (YTD only)
  • 0.39%Net charge-offs to loans
  • 48.27%Credit loss provision to net charge-offs
  • 8.26%Efficiency ratio
  • 60,307Assets per employee
  • 2.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 86.95%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 159.76%Noncurrent assets plus other real estate owned to assets
  • 0.73%Noncurrent loans to loans
  • 0.99%Net loans and leases to deposits
  • 90.64%Net loans and leases to core deposits
  • 109.10%Equity capital to assets
  • 6.90%Core capital (leverage) ratio
  • 8.17%Tier 1 risk-based capital ratio
  • 8.54%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $43,743,289Average earning assets
  • $3,152,421Average equity
  • $37,530,637Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Corestates Bank, National Association.
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.
Table of Contents