Millennium BCP Bank, National Association in Newark, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 15, 2010

  • Millennium BCP Bank, National Association in Newark, New Jersey (NJ)
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Millennium BCP Bank, National Association - Overview

  • General
  • FDIC Certificate #: 35280
    Status: Inactive
    Federal Reserve ID: 2944715
    Date Established: October 10, 2000
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 17 (Interstate: No)
    FDIC's unique #: 77669
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: October 10, 2000
    Last Structure Change Effective Date: October 15, 2010
    Last Structure Change Process Date: December 02, 2010
    Last Data Update: December 02, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 255 Lafayette Street, Newark, NJ 7105
    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
  • Other Liquidations and Closings
    Change in Insurance Status
    Office Sold
  • Financial Summary
  • Total assets: $708.0 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
  • 203Total employees (full-time equivalent)
  • $814,547Total assets
  • $133,200Cash and due from depository institutions
  • $114,874Interest-bearing balances
  • $80,840Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $578,909Net loans & leases
  • $16,119Loan loss allowance
  • $0Trading account assets
  • $13,232Bank premises and fixed assets
  • $994Other real estate owned
  • $101Goodwill and other intangibles
  • $0Life insurance assets
  • $7,271All other assets
  • $814,548Total liabilities and capital
  • $739,026Total liabilities
  • $706,889Total deposits
  • $542,574Interest-bearing deposits
  • $706,889Deposits held in domestic offices
  • 81.22%% insured (estimated)
  • $27,512Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $4,625All other liabilities
  • $75,522Total equity capital
  • $75,522Total bank equity capital
  • $75,522Perpetual preferred stock
  • $0Common stock
  • $2,500Surplus
  • $125,794Undivided profits
  • Memoranda
  • $-52,772Noncurrent loans and leases
  • $71,992Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $27,655Earning assets
  • $46Long-term assets (5+ years)
  • $2,111Average Assets, year-to-date
  • $774,623Average Assets, quarterly
  • $160,652Volatile liabilities
  • $806,635Insider loans
  • $811,194FHLB advances
  • $171,145Loans and leases held for sale
  • $792Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $432Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $71,992Total unused commitments
  • $3,776Restructured Loans and leases
  • $6,671Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $37,205Total interest income
  • $13,708Total interest expense
  • $23,497Net interest income
  • $13,567Provision for loan and lease losses
  • $8,683Total noninterest income
  • $0Fiduciary activities
  • $3,500Service charges on deposit accounts
  • $0Trading account gains & fees
  • $5,183Additional noninterest income
  • $33,111Total noninterest expense
  • $15,380Salaries and employee benefits
  • $8,020Premises and equipment expense
  • $9,711Additional noninterest expense
  • -$14,498Pre-tax net operating income
  • $1,081Securities gains (losses)
  • -$256Applicable income taxes
  • -$13,161Income before extraordinary items
  • $0Extraordinary gains - net
  • -$13,161Net income attributable to bank
  • $0Net charge-offs
  • -$13,161Cash dividends
  • $7,288Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.79%Cost of funding earning assets
  • 3.06%Net interest margin
  • 1.13%Noninterest income to earning assets
  • 4.32%Noninterest expense to earning assets
  • -1.76%Net operating income to assets
  • -1.63%Return on assets (ROA)
  • -1.66%Pretax return on assets
  • -17.10%Return on equity (ROE)
  • -17.10%Retained earnings to average equity (YTD only)
  • 1.16%Net charge-offs to loans
  • 186.16%Credit loss provision to net charge-offs
  • -0.13%Efficiency ratio
  • 102,791Assets per employee
  • 4.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.71%Loss allowance to noncurrent loans
  • 58.29%Noncurrent assets plus other real estate owned to assets
  • 3.52%Noncurrent loans to loans
  • 4.65%Net loans and leases to deposits
  • 81.90%Net loans and leases to core deposits
  • 102.78%Equity capital to assets
  • 9.27%Core capital (leverage) ratio
  • 9.62%Tier 1 risk-based capital ratio
  • 14.46%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $806,635Average earning assets
  • $76,984Average equity
  • $766,801Average loans

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