Prime Bank in Philadelphia, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 18, 1999

  • Prime Bank in Philadelphia, Pennsylvania (PA)
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Prime Bank - Overview

  • General
  • FDIC Certificate #: 27261
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Summit Bank (#7406)
    Federal Reserve ID: 1191398
    Date Established: June 01, 1988
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 24 (Interstate: No)
    OTS Docket #: 9292
    FDIC's unique #: 39360
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 01, 1988
    Last Structure Change Effective Date: September 18, 1999
    Last Structure Change Process Date: October 28, 1999
    Last Data Update: October 28, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 6425 Rising Sun Avenue, Philadelphia, PA 19111
    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)
  • Financial Summary
  • Total assets: $1,077.0 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 314Total employees (full-time equivalent)
  • $1,038,047Total assets
  • $41,335Cash and due from depository institutions
  • $10,363Interest-bearing balances
  • $306,545Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $660,259Net loans & leases
  • $9,569Loan loss allowance
  • $0Trading account assets
  • $9,652Bank premises and fixed assets
  • $2,402Other real estate owned
  • $3,843Goodwill and other intangibles
  • $0Life insurance assets
  • $14,011All other assets
  • $1,038,047Total liabilities and capital
  • $950,311Total liabilities
  • $708,373Total deposits
  • $577,895Interest-bearing deposits
  • $708,373Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $113,852Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $124,503Other borrowed funds
  • $0Subordinated debt
  • $3,583All other liabilities
  • $87,736Total equity capital
  • $87,736Total bank equity capital
  • $87,736Perpetual preferred stock
  • $0Common stock
  • $900Surplus
  • $33,356Undivided profits
  • Memoranda
  • $53,480Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,864Earning assets
  • $0Long-term assets (5+ years)
  • $4,929Average Assets, year-to-date
  • $977,167Average Assets, quarterly
  • $339,414Volatile liabilities
  • $1,010,714Insider loans
  • $1,036,704FHLB advances
  • $177,140Loans and leases held for sale
  • $5,746Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,081Total risk weighted assets
  • $291,047Total unused commitments
  • $0Restructured Loans and leases
  • $734,162Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $76,386Total interest income
  • $35,716Total interest expense
  • $40,670Net interest income
  • $2,027Provision for loan and lease losses
  • $5,576Total noninterest income
  • $0Fiduciary activities
  • $2,933Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,643Additional noninterest income
  • $25,883Total noninterest expense
  • $13,037Salaries and employee benefits
  • $5,384Premises and equipment expense
  • $7,462Additional noninterest expense
  • $18,336Pre-tax net operating income
  • -$6Securities gains (losses)
  • $6,294Applicable income taxes
  • $12,036Income before extraordinary items
  • $0Extraordinary gains - net
  • $12,036Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $943Sale, conversion, retirement of capital stock, net
  • $3,160Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.10%Yield on earning assets
  • 3.79%Cost of funding earning assets
  • 4.31%Net interest margin
  • 0.59%Noninterest income to earning assets
  • 2.74%Noninterest expense to earning assets
  • 1.19%Net operating income to assets
  • 1.19%Return on assets (ROA)
  • 1.81%Pretax return on assets
  • 15.25%Return on equity (ROE)
  • 11.24%Retained earnings to average equity (YTD only)
  • 0.15%Net charge-offs to loans
  • 214.95%Credit loss provision to net charge-offs
  • 21.59%Efficiency ratio
  • 55,194Assets per employee
  • 3.31%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 26.25%Loss allowance to loans
  • 1.43%Loss allowance to noncurrent loans
  • 247.64%Noncurrent assets plus other real estate owned to assets
  • 0.44%Noncurrent loans to loans
  • 0.58%Net loans and leases to deposits
  • 93.21%Net loans and leases to core deposits
  • 102.27%Equity capital to assets
  • 8.45%Core capital (leverage) ratio
  • 8.28%Tier 1 risk-based capital ratio
  • 11.47%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $1,010,714Average earning assets
  • $78,950Average equity
  • $943,360Average loans

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