FDIC Certificate #: 35071 Status: Inactive Closing history: Corrections Acquiring institution:NOVA Bank (#27148) Federal Reserve ID: 2792466 Date Established: March 17, 1999 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 74646 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: March 17, 1999 Last Structure Change Effective Date: May 26, 2009 Last Structure Change Process Date: June 24, 2009 Last Data Update: June 24, 2009 Data Source Date: April 05, 2012
Location
Address: 1819 John F. Kennedy Boulevard, Philadelphia, PA 19103 County: Philadelphia Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Philadelphia Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Philadelphia, PA-NJ (#6160) Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77) Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428) Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980) CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980) Core Based Statistical Division: Philadelphia, PA (#37964)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $116.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
21Total employees (full-time equivalent)
$117,839Total assets
$8,670Cash and due from depository institutions
$7,035Interest-bearing balances
$14,180Securities
$2Federal funds sold & reverse repurchase agreements
$86,289Net loans & leases
$1,510Loan loss allowance
$0Trading account assets
$823Bank premises and fixed assets
$749Other real estate owned
$4,984Goodwill and other intangibles
$0Life insurance assets
$2,142All other assets
$117,839Total liabilities and capital
$103,570Total liabilities
$97,414Total deposits
$91,646Interest-bearing deposits
$97,414Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$5,000Other borrowed funds
$0Subordinated debt
$1,156All other liabilities
$14,269Total equity capital
$14,269Total bank equity capital
$14,269Perpetual preferred stock
$0Common stock
$3Surplus
$13,996Undivided profits
Memoranda
$270Noncurrent loans and leases
$3,048Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,896Earning assets
$0Long-term assets (5+ years)
$738Average Assets, year-to-date
$107,506Average Assets, quarterly
$33,971Volatile liabilities
$115,193Insider loans
$113,581FHLB advances
$25,741Loans and leases held for sale
$0Unused loan commitments
$5,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,048Total unused commitments
$0Restructured Loans and leases
$1,183Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$924Total interest income
$440Total interest expense
$484Net interest income
$0Provision for loan and lease losses
$32Total noninterest income
$0Fiduciary activities
$32Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$632Total noninterest expense
$211Salaries and employee benefits
$141Premises and equipment expense
$280Additional noninterest expense
-$116Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$116Income before extraordinary items
$0Extraordinary gains - net
-$116Net 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, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
0.85%Yield on earning assets
0.41%Cost of funding earning assets
0.45%Net interest margin
0.03%Noninterest income to earning assets
0.58%Noninterest expense to earning assets
-0.10%Net operating income to assets
-0.10%Return on assets (ROA)
-0.10%Pretax return on assets
-1.25%Return on equity (ROE)
-1.25%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
122,481Assets per employee
5.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.72%Loss allowance to noncurrent loans
38.76%Noncurrent assets plus other real estate owned to assets
3.94%Noncurrent loans to loans
4.44%Net loans and leases to deposits
88.58%Net loans and leases to core deposits
112.54%Equity capital to assets
12.11%Core capital (leverage) ratio
8.46%Tier 1 risk-based capital ratio
9.43%Total risk-based capital ratio
Memoranda
$11Average assets
$115,193Average earning assets
$9,245Average equity
$108,114Average loans
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