First Dewitt Bank in West Caldwell, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 19, 1997

  • First Dewitt Bank in West Caldwell, New Jersey (NJ)
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First Dewitt Bank - Overview

  • General
  • FDIC Certificate #: 30198
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Sovereign Bank, National Association (#29950)
    Federal Reserve ID: 754376
    Date Established: May 01, 1942
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 4933
    FDIC's unique #: 43032
    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: June 09, 1942
    Last Structure Change Effective Date: Febuary 19, 1997
    Last Structure Change Process Date: March 27, 1997
    Last Data Update: March 27, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 1120 Bloomfield Ave, West Caldwell, NJ 7006
    County: Essex
    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): Newark, NJ (#5640)
    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: Newark-Union, NJ-PA (#35084)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $604.6 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)
  • $136Total assets
  • $604,645Cash and due from depository institutions
  • $14,733Interest-bearing balances
  • $3,152Securities
  • $79,988Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $467,787Loan loss allowance
  • $9,127Trading account assets
  • $0Bank premises and fixed assets
  • $9,875Other real estate owned
  • $1,205Goodwill and other intangibles
  • $28,456Life insurance assets
  • $2,600All other assets
  • $0Total liabilities and capital
  • $604,645Total liabilities
  • $576,561Total deposits
  • $525,573Interest-bearing deposits
  • $492,393Deposits held in domestic offices
  • 525573.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $48,828Subordinated debt
  • $0All other liabilities
  • $2,160Total equity capital
  • $2,160Total bank equity capital
  • $28,084Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $18,210Undivided profits
  • Memoranda
  • $9,873Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,163Income earned, not collected on loans
  • $2,923Earning assets
  • $550,927Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $622,685Average Assets, quarterly
  • $608,047Volatile liabilities
  • $123,684Insider loans
  • $10,342FHLB advances
  • $48,828Loans and leases held for sale
  • $0Unused loan commitments
  • $30,571Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $26,018Total risk weighted assets
  • $374,981Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $44,982Total interest expense
  • $23,856Net interest income
  • $21,126Provision for loan and lease losses
  • $9,200Total noninterest income
  • -$3,596Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • -$3,596Total noninterest expense
  • $26,836Salaries and employee benefits
  • $11,101Premises and equipment expense
  • $3,708Additional noninterest expense
  • $12,027Pre-tax net operating income
  • -$18,506Securities gains (losses)
  • -$175Applicable income taxes
  • -$5,542Income before extraordinary items
  • -$13,139Extraordinary gains - net
  • $0Net income attributable to bank
  • -$13,139Net charge-offs
  • $5,616Cash 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
  • 7.96%Cost of funding earning assets
  • 4.22%Net interest margin
  • 3.74%Noninterest income to earning assets
  • -0.64%Noninterest expense to earning assets
  • 4.75%Net operating income to assets
  • -2.09%Return on assets (ROA)
  • -2.11%Pretax return on assets
  • -3.00%Return on equity (ROE)
  • -35.88%Retained earnings to average equity (YTD only)
  • -35.88%Net charge-offs to loans
  • 1.11%Credit loss provision to net charge-offs
  • 163.82%Efficiency ratio
  • 151,945Assets per employee
  • 4.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.91%Loss allowance to noncurrent loans
  • 84.30%Noncurrent assets plus other real estate owned to assets
  • 1.88%Noncurrent loans to loans
  • 2.13%Net loans and leases to deposits
  • 89.01%Net loans and leases to core deposits
  • 103.79%Equity capital to assets
  • 4.64%Core capital (leverage) ratio
  • 4.32%Tier 1 risk-based capital ratio
  • 6.94%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $622,685Average earning assets
  • $36,618Average equity
  • $565,247Average loans

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