FDIC Certificate #: 57837 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Highlands State Bank (#58048) Federal Reserve ID: 3376144 Date Established: August 29, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 427730 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: August 29, 2005 Last Structure Change Effective Date: December 31, 2008 Last Structure Change Process Date: January 23, 2009 Last Data Update: January 23, 2009 Data Source Date: April 05, 2012
Location
Address: 351 Sparta Avenue, Sparta, NJ 7871 County: Sussex 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)
Financial Summary
Total assets: $44.9 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2007)
Dollar figures in thousands
13Total employees (full-time equivalent)
$35,051Total assets
$5,648Cash and due from depository institutions
$5,140Interest-bearing balances
$4,003Securities
$2,950Federal funds sold & reverse repurchase agreements
$21,330Net loans & leases
$256Loan loss allowance
$0Trading account assets
$804Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$316All other assets
$35,051Total liabilities and capital
$29,164Total liabilities
$28,925Total deposits
$26,566Interest-bearing deposits
$28,925Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$239All other liabilities
$5,887Total equity capital
$5,887Total bank equity capital
$5,887Perpetual preferred stock
$0Common stock
$4,359Surplus
$4,320Undivided profits
Memoranda
$-2,792Noncurrent loans and leases
$6,956Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$183Average Assets, year-to-date
$33,423Average Assets, quarterly
$9,686Volatile liabilities
$32,290Insider loans
$34,564FHLB advances
$6,242Loans and leases held for sale
$1,904Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,956Total unused commitments
$0Restructured Loans and leases
$256Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$1,981Total interest income
$1,108Total interest expense
$873Net interest income
$87Provision for loan and lease losses
$19Total noninterest income
$0Fiduciary activities
$14Service charges on deposit accounts
$0Trading account gains & fees
$5Additional noninterest income
$1,714Total noninterest expense
$824Salaries and employee benefits
$379Premises and equipment expense
$511Additional noninterest expense
-$909Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$909Income before extraordinary items
$0Extraordinary gains - net
-$909Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.42%Yield on earning assets
3.59%Cost of funding earning assets
2.83%Net interest margin
0.06%Noninterest income to earning assets
5.56%Noninterest expense to earning assets
-2.82%Net operating income to assets
-2.82%Return on assets (ROA)
-2.82%Pretax return on assets
-14.41%Return on equity (ROE)
-14.41%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
192,152Assets per employee
2.70%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.19%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
73.74%Net loans and leases to core deposits
94.04%Equity capital to assets
16.80%Core capital (leverage) ratio
17.25%Tier 1 risk-based capital ratio
23.43%Total risk-based capital ratio
Memoranda
$24Average assets
$32,290Average earning assets
$6,308Average equity
$30,838Average loans
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