FDIC Certificate #: 58071 Status: Inactive Closing history: Corrections Acquiring institution:Valley National Bank (#9396) Federal Reserve ID: 3382921 Date Established: October 03, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 438820 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: October 03, 2005 Last Structure Change Effective Date: March 11, 2010 Last Structure Change Process Date: March 12, 2010 Last Data Update: March 12, 2010 Data Source Date: April 05, 2012
Location
Address: 120 Broadway, New York, NY 10271 County: New York Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: New York City Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): New York, NY (#5600) 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: New York-White Plains-Wayne, NY-NJ (#35644)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $216.5 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
37Total employees (full-time equivalent)
$216,500Total assets
$24,913Cash and due from depository institutions
$24,179Interest-bearing balances
$5,002Securities
$0Federal funds sold & reverse repurchase agreements
$176,166Net loans & leases
$6,846Loan loss allowance
$0Trading account assets
$5,501Bank premises and fixed assets
$2,479Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,439All other assets
$216,500Total liabilities and capital
$211,734Total liabilities
$209,477Total deposits
$190,831Interest-bearing deposits
$209,477Deposits held in domestic offices
97.82%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,257All other liabilities
$4,766Total equity capital
$4,766Total bank equity capital
$4,766Perpetual preferred stock
$0Common stock
$6,000Surplus
$26,905Undivided profits
Memoranda
$-28,139Noncurrent loans and leases
$11,385Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$41,536Earning assets
$0Long-term assets (5+ years)
$773Average Assets, year-to-date
$205,347Average Assets, quarterly
$0Volatile liabilities
$229,571Insider loans
$214,106FHLB advances
$76,238Loans and leases held for sale
$32Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$11,385Total unused commitments
$6,225Restructured Loans and leases
$2,056Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$11,319Total interest income
$6,106Total interest expense
$5,213Net interest income
$6,495Provision for loan and lease losses
$416Total noninterest income
$0Fiduciary activities
$224Service charges on deposit accounts
$0Trading account gains & fees
$192Additional noninterest income
$9,775Total noninterest expense
$3,493Salaries and employee benefits
$2,474Premises and equipment expense
$3,808Additional noninterest expense
-$10,641Pre-tax net operating income
$20Securities gains (losses)
$120Applicable income taxes
-$10,741Income before extraordinary items
$0Extraordinary gains - net
-$10,741Net income attributable to bank
$0Net charge-offs
-$10,741Cash dividends
$5,467Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.21%Yield on earning assets
2.81%Cost of funding earning assets
2.40%Net interest margin
0.19%Noninterest income to earning assets
4.50%Noninterest expense to earning assets
-4.69%Net operating income to assets
-4.68%Return on assets (ROA)
-4.63%Pretax return on assets
-101.18%Return on equity (ROE)
-101.18%Retained earnings to average equity (YTD only)
2.84%Net charge-offs to loans
118.80%Credit loss provision to net charge-offs
-0.76%Efficiency ratio
173,654Assets per employee
5.85%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.74%Loss allowance to noncurrent loans
16.48%Noncurrent assets plus other real estate owned to assets
20.33%Noncurrent loans to loans
22.70%Net loans and leases to deposits
84.10%Net loans and leases to core deposits
132.22%Equity capital to assets
2.20%Core capital (leverage) ratio
2.16%Tier 1 risk-based capital ratio
2.99%Total risk-based capital ratio
Memoranda
$4Average assets
$229,571Average earning assets
$10,616Average equity
$217,250Average loans
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