Prospect Park Federal Savings Bank in West Paterson, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 22, 1994

  • Prospect Park Federal Savings Bank in West Paterson, New Jersey (NJ)
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Prospect Park Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 33384
    Status: Inactive
    Closing history: Conservatorship Institution Resolved
    Acquiring institution: Lakeview Savings Bank (#28338)
    Federal Reserve ID: 548070
    Date Established: April 19, 1991
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 9158
    FDIC's unique #: 47023
    Numeric code: 34
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: April 19, 1991
    Last Structure Change Effective Date: April 22, 1994
    Last Structure Change Process Date: May 02, 1994
    Last Data Update: August 02, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 989 Mcbride Avenue, West Paterson, NJ 7424
    County: Passaic
    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): Bergen-Passaic, NJ (#875)
    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: New York-White Plains-Wayne, NY-NJ (#35644)
  • History of Changes
  • Pass Through Receivership Merger
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $111.8 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)
  • $114Total assets
  • $124,816Cash and due from depository institutions
  • $18,259Interest-bearing balances
  • $14,606Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $53,480Loan loss allowance
  • $9,845Trading account assets
  • $0Bank premises and fixed assets
  • $7,147Other real estate owned
  • $13,699Goodwill and other intangibles
  • $32,231Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $124,816Total liabilities
  • $218,321Total deposits
  • $207,799Interest-bearing deposits
  • $207,799Deposits held in domestic offices
  • 207799.00%% insured (estimated)
  • $100Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $649Subordinated debt
  • $0All other liabilities
  • $9,873Total equity capital
  • $9,873Total bank equity capital
  • $-93,505Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-93,505Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $22,878Income earned, not collected on loans
  • $2,218Earning assets
  • $68,086Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $163,179Average Assets, quarterly
  • $135,973Volatile liabilities
  • $2,658Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $3,001Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-93,505Total risk weighted assets
  • $93,594Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,777Total interest expense
  • $8,425Net interest income
  • -$2,648Provision for loan and lease losses
  • $5,512Total noninterest income
  • $205Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $205Total noninterest expense
  • $23,372Salaries and employee benefits
  • $3,387Premises and equipment expense
  • $2,575Additional noninterest expense
  • $17,410Pre-tax net operating income
  • -$31,327Securities gains (losses)
  • -$154Applicable income taxes
  • $14Income before extraordinary items
  • -$31,495Extraordinary gains - net
  • $0Net income attributable to bank
  • -$31,495Net charge-offs
  • $1,330Cash 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
  • 6.37%Cost of funding earning assets
  • 9.29%Net interest margin
  • -2.92%Noninterest income to earning assets
  • 0.23%Noninterest expense to earning assets
  • 25.77%Net operating income to assets
  • -19.21%Return on assets (ROA)
  • -19.30%Pretax return on assets
  • -19.29%Return on equity (ROE)
  • 40.08%Retained earnings to average equity (YTD only)
  • 40.08%Net charge-offs to loans
  • 1.73%Credit loss provision to net charge-offs
  • 414.44%Efficiency ratio
  • -956,693Assets per employee
  • 1.09%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 15.55%Loss allowance to noncurrent loans
  • 43.03%Noncurrent assets plus other real estate owned to assets
  • 29.05%Noncurrent loans to loans
  • 36.13%Net loans and leases to deposits
  • 25.74%Net loans and leases to core deposits
  • 25.99%Equity capital to assets
  • -74.91%Core capital (leverage) ratio
  • -76.73%Tier 1 risk-based capital ratio
  • -99.90%Total risk-based capital ratio
  • Memoranda
  • -$100Average assets
  • $163,179Average earning assets
  • -$78,584Average equity
  • $90,696Average loans

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