Farrington Bank in North Brunswick, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 28, 1997

  • Farrington Bank in North Brunswick, New Jersey (NJ)
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Farrington Bank - Overview

  • General
  • FDIC Certificate #: 32781
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: United Trust Bank (#6308)
    Federal Reserve ID: 1441057
    Date Established: Febuary 20, 1990
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 45691
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: Febuary 20, 1990
    Last Structure Change Effective Date: Febuary 28, 1997
    Last Structure Change Process Date: March 27, 1997
    Last Data Update: March 27, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 630 Georges Road, North Brunswick, NJ 8902
    County: Middlesex
    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): Middlesex-Somerset-Hunterdon, NJ (#5015)
    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: Edison-New Brunswick, NJ (#20764)
  • Financial Summary
  • Total assets: $65.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $19Total assets
  • $64,995Cash and due from depository institutions
  • $4,142Interest-bearing balances
  • $0Securities
  • $23,095Federal funds sold & reverse repurchase agreements
  • $5,887Net loans & leases
  • $30,266Loan loss allowance
  • $1,306Trading account assets
  • $0Bank premises and fixed assets
  • $282Other real estate owned
  • $0Goodwill and other intangibles
  • $1,323Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $64,995Total liabilities
  • $56,131Total deposits
  • $55,446Interest-bearing deposits
  • $45,019Deposits held in domestic offices
  • 55446.00%% insured (estimated)
  • $90Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $685Total equity capital
  • $685Total bank equity capital
  • $8,864Perpetual preferred stock
  • $0Common stock
  • $3,327Surplus
  • $3,285Undivided profits
  • Memoranda
  • $2,252Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,761Income earned, not collected on loans
  • $280Earning assets
  • $59,248Long-term assets (5+ years)
  • $149Average Assets, year-to-date
  • $63,169Average Assets, quarterly
  • $64,308Volatile liabilities
  • $1,882Insider loans
  • $966FHLB advances
  • $0Loans and leases held for sale
  • $2,227Unused loan commitments
  • $14,596Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $8,909Total risk weighted assets
  • $36,094Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,591Total interest expense
  • $1,276Net interest income
  • $4,315Provision for loan and lease losses
  • $774Total noninterest income
  • $2,105Fiduciary activities
  • $0Service charges on deposit accounts
  • $108Trading account gains & fees
  • $0Additional noninterest income
  • $1,997Total noninterest expense
  • $4,258Salaries and employee benefits
  • $1,223Premises and equipment expense
  • $319Additional noninterest expense
  • $2,716Pre-tax net operating income
  • $1,388Securities gains (losses)
  • $4Applicable income taxes
  • $572Income before extraordinary items
  • $820Extraordinary gains - net
  • $0Net income attributable to bank
  • $820Net charge-offs
  • $353Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 9.43%Cost of funding earning assets
  • 2.15%Net interest margin
  • 7.28%Noninterest income to earning assets
  • 3.55%Noninterest expense to earning assets
  • 7.18%Net operating income to assets
  • 1.29%Return on assets (ROA)
  • 1.30%Pretax return on assets
  • 2.20%Return on equity (ROE)
  • 9.54%Retained earnings to average equity (YTD only)
  • 9.54%Net charge-offs to loans
  • 1.14%Credit loss provision to net charge-offs
  • 219.26%Efficiency ratio
  • 66,324Assets per employee
  • 3.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.14%Loss allowance to noncurrent loans
  • 74.16%Noncurrent assets plus other real estate owned to assets
  • 2.71%Noncurrent loans to loans
  • 5.58%Net loans and leases to deposits
  • 54.59%Net loans and leases to core deposits
  • 56.50%Equity capital to assets
  • 13.64%Core capital (leverage) ratio
  • 14.59%Tier 1 risk-based capital ratio
  • 24.68%Total risk-based capital ratio
  • Memoranda
  • $26Average assets
  • $63,169Average earning assets
  • $8,593Average equity
  • $59,267Average loans

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