Ocean Independent Bank in Ocean, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 21, 1994

  • Ocean Independent Bank in Ocean, New Jersey (NJ)
  • Show street view No street view available for this location

Ocean Independent Bank - Overview

  • General
  • FDIC Certificate #: 27218
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Dewitt Bank (#30198)
    Federal Reserve ID: 1189108
    Date Established: April 11, 1988
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 39150
    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: April 11, 1988
    Last Structure Change Effective Date: October 21, 1994
    Last Structure Change Process Date: November 14, 1994
    Last Data Update: November 14, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: Cobblestone Plaza, 901 West Park Avenue, Ocean, NJ 7712
    County: Monmouth
    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): Monmouth-Ocean, NJ (#5190)
    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: $49.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $28Total assets
  • $46,009Cash and due from depository institutions
  • $3,722Interest-bearing balances
  • $0Securities
  • $8,788Federal funds sold & reverse repurchase agreements
  • $900Net loans & leases
  • $31,055Loan loss allowance
  • $437Trading account assets
  • $0Bank premises and fixed assets
  • $350Other real estate owned
  • $529Goodwill and other intangibles
  • $665Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $46,009Total liabilities
  • $42,529Total deposits
  • $40,795Interest-bearing deposits
  • $32,799Deposits held in domestic offices
  • 40795.00%% insured (estimated)
  • $87Federal funds purchased & repurchase agreements
  • $1,585Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $149Total equity capital
  • $149Total bank equity capital
  • $3,480Perpetual preferred stock
  • $0Common stock
  • $2,679Surplus
  • $2,754Undivided profits
  • Memoranda
  • $-1,953Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,960Income earned, not collected on loans
  • $321Earning assets
  • $40,743Long-term assets (5+ years)
  • $4,546Average Assets, year-to-date
  • $43,327Average Assets, quarterly
  • $44,222Volatile liabilities
  • $4,578Insider loans
  • $2,250FHLB advances
  • $0Loans and leases held for sale
  • $8,023Unused loan commitments
  • $8,054Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $3,480Total risk weighted assets
  • $30,684Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $2,944Total interest expense
  • $947Net interest income
  • $1,997Provision for loan and lease losses
  • $190Total noninterest income
  • $1,554Fiduciary activities
  • $0Service charges on deposit accounts
  • $260Trading account gains & fees
  • $0Additional noninterest income
  • $1,294Total noninterest expense
  • $3,214Salaries and employee benefits
  • $1,007Premises and equipment expense
  • $381Additional noninterest expense
  • $1,826Pre-tax net operating income
  • $147Securities gains (losses)
  • $5Applicable income taxes
  • $0Income before extraordinary items
  • $152Extraordinary gains - net
  • $100Net income attributable to bank
  • $252Net charge-offs
  • $210Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.63%Cost of funding earning assets
  • 2.45%Net interest margin
  • 5.18%Noninterest income to earning assets
  • 4.03%Noninterest expense to earning assets
  • 8.33%Net operating income to assets
  • 0.34%Return on assets (ROA)
  • 0.58%Pretax return on assets
  • 0.58%Return on equity (ROE)
  • 7.46%Retained earnings to average equity (YTD only)
  • 7.46%Net charge-offs to loans
  • 0.75%Credit loss provision to net charge-offs
  • 90.48%Efficiency ratio
  • 90,510Assets per employee
  • 1.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.39%Loss allowance to noncurrent loans
  • 22.30%Noncurrent assets plus other real estate owned to assets
  • 5.41%Noncurrent loans to loans
  • 6.22%Net loans and leases to deposits
  • 76.12%Net loans and leases to core deposits
  • 82.15%Equity capital to assets
  • 7.56%Core capital (leverage) ratio
  • 7.91%Tier 1 risk-based capital ratio
  • 11.34%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $43,327Average earning assets
  • $3,378Average equity
  • $38,585Average loans

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