FDIC Certificate #: 34690 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Synergy Bank (#34851) Federal Reserve ID: 2693657 Date Established: May 11, 1998 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 61202 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: May 11, 1998 Last Structure Change Effective Date: January 10, 2003 Last Structure Change Process Date: January 24, 2003 Last Data Update: January 24, 2003 Data Source Date: April 05, 2012
Location
Address: 1727 Route 130, 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: $54.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
12Total employees (full-time equivalent)
$54,923Total assets
$7,397Cash and due from depository institutions
$0Interest-bearing balances
$23,165Securities
$1,500Federal funds sold & reverse repurchase agreements
$22,178Net loans & leases
$851Loan loss allowance
$0Trading account assets
$233Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$450All other assets
$54,923Total liabilities and capital
$53,192Total liabilities
$52,867Total deposits
$48,056Interest-bearing deposits
$52,867Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$325All other liabilities
$1,731Total equity capital
$1,731Total bank equity capital
$1,731Perpetual preferred stock
$0Common stock
$3,719Surplus
$3,680Undivided profits
Memoranda
$-5,668Noncurrent loans and leases
$2,379Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$149Earning assets
$0Long-term assets (5+ years)
$225Average Assets, year-to-date
$46,843Average Assets, quarterly
$19,456Volatile liabilities
$58,441Insider loans
$55,955FHLB advances
$4,716Loans and leases held for sale
$1,124Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,379Total unused commitments
$0Restructured Loans and leases
$380Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$3,635Total interest income
$1,711Total interest expense
$1,924Net interest income
$0Provision for loan and lease losses
$116Total noninterest income
$0Fiduciary activities
$9Service charges on deposit accounts
$0Trading account gains & fees
$107Additional noninterest income
$2,933Total noninterest expense
$1,284Salaries and employee benefits
$305Premises and equipment expense
$1,344Additional noninterest expense
-$893Pre-tax net operating income
$72Securities gains (losses)
$1Applicable income taxes
-$822Income before extraordinary items
$0Extraordinary gains - net
-$822Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$2,318Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.95%Yield on earning assets
3.27%Cost of funding earning assets
3.68%Net interest margin
0.22%Noninterest income to earning assets
5.60%Noninterest expense to earning assets
-1.53%Net operating income to assets
-1.41%Return on assets (ROA)
-1.40%Pretax return on assets
-40.85%Return on equity (ROE)
-40.85%Retained earnings to average equity (YTD only)
6.85%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
-0.39%Efficiency ratio
143,775Assets per employee
4.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.70%Loss allowance to noncurrent loans
571.14%Noncurrent assets plus other real estate owned to assets
0.27%Noncurrent loans to loans
0.65%Net loans and leases to deposits
41.95%Net loans and leases to core deposits
46.06%Equity capital to assets
3.15%Core capital (leverage) ratio
2.66%Tier 1 risk-based capital ratio
4.97%Total risk-based capital ratio
Memoranda
$6Average assets
$58,441Average earning assets
$2,012Average equity
$52,340Average loans
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