FDIC Certificate #: 35512 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Ocean City Home Bank (#30273) Federal Reserve ID: 2962193 Date Established: November 20, 2000 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 5 (Interstate: No) OTS Docket #: 16843 FDIC's unique #: 80597 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: November 20, 2000 Last Structure Change Effective Date: August 01, 2011 Last Structure Change Process Date: August 15, 2011 Last Data Update: August 15, 2011 Data Source Date: April 05, 2012
Location
Address: 801 White Horse Pike, Egg Harbor City, NJ 8215 County: Atlantic 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): Atlantic-Cape May, NJ (#560) Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77) Core Based Statistical Area (CBSA): Atlantic City-Hammonton, NJ (#12100) CBSA Metro Statistical Area: Atlantic City-Hammonton, NJ (#12100)
Financial Summary
Total assets: $131.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
30Total employees (full-time equivalent)
$136,038Total assets
$13,503Cash and due from depository institutions
$9,476Interest-bearing balances
$7,727Securities
$22,270Federal funds sold & reverse repurchase agreements
$88,452Net loans & leases
$1,016Loan loss allowance
$0Trading account assets
$1,955Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,131All other assets
$136,038Total liabilities and capital
$125,579Total liabilities
$125,402Total deposits
$117,974Interest-bearing deposits
$125,402Deposits held in domestic offices
100.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$177All other liabilities
$10,459Total equity capital
$10,459Total bank equity capital
$10,459Perpetual preferred stock
$0Common stock
$610Surplus
$8,240Undivided profits
Memoranda
$1,609Noncurrent loans and leases
$6,401Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$828Earning assets
$0Long-term assets (5+ years)
$353Average Assets, year-to-date
$127,925Average Assets, quarterly
$0Volatile liabilities
$135,640Insider loans
$136,896FHLB advances
$32,366Loans and leases held for sale
$150Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,401Total unused commitments
$0Restructured Loans and leases
$966Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$6,376Total interest income
$1,647Total interest expense
$4,729Net interest income
$150Provision for loan and lease losses
$150Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$150Additional noninterest income
$2,778Total noninterest expense
$1,542Salaries and employee benefits
$669Premises and equipment expense
$567Additional noninterest expense
$1,951Pre-tax net operating income
$98Securities gains (losses)
$818Applicable income taxes
$1,231Income before extraordinary items
$0Extraordinary gains - net
$1,231Net income attributable to bank
$0Net charge-offs
$1,231Cash dividends
$0Sale, conversion, retirement of capital stock, net
$178Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.00%Yield on earning assets
1.29%Cost of funding earning assets
3.71%Net interest margin
0.12%Noninterest income to earning assets
2.18%Noninterest expense to earning assets
0.86%Net operating income to assets
0.91%Return on assets (ROA)
1.51%Pretax return on assets
12.30%Return on equity (ROE)
10.52%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
56,938Assets per employee
4.53%Cash dividends to net income (YTD only)
Condition Ratios (%)
14.46%Loss allowance to loans
1.14%Loss allowance to noncurrent loans
122.71%Noncurrent assets plus other real estate owned to assets
0.61%Noncurrent loans to loans
0.93%Net loans and leases to deposits
70.53%Net loans and leases to core deposits
95.07%Equity capital to assets
7.69%Core capital (leverage) ratio
7.69%Tier 1 risk-based capital ratio
12.27%Total risk-based capital ratio
Memoranda
$14Average assets
$135,640Average earning assets
$10,008Average equity
$127,462Average loans
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