Somerset Savings Bank, SLA in city_name, state_name - Detailed Financial Reports, Location

Somerset Savings Bank, SLA in Bound Brook, New Jersey (NJ)
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Somerset Savings Bank, SLA - Overview

General
FDIC Certificate #: 28778
Status: Active
Federal Reserve ID: 159971
Date Established: January 01, 1887
WWW: http://www.somersetsavings.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 7 (Domestic: 7, Interstate: No)
OTS Docket #: 2343
FDIC's unique #: 41612
Numeric code: 36
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: June 04, 1957
Last Structure Change Effective Date: December 01, 2011
Last Structure Change Process Date: December 14, 2011
Last Data Update: December 14, 2011
Data Source Date: April 05, 2012
Location
Address: 220 West Union Avenue, Bound Brook, NJ 8805
County: Somerset
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): Middlesex-Somerset-Hunterdon, NJ (#5015)
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: $587.0 mil
Equity capital: $100.4 mil
Deposits held in domestic offices: $484.6 mil
Return on assets (ROA): 0.55% ($3.2 mil)
Quarterly return on assets: 0.50% ($2.9 mil)
Return on Equity (ROE): 3.26% ($3.3 mil)
Quarterly return on equity: 2.94% ($2.9 mil)
Net income: $3.2 mil
Quarterly Net income: $0.7 mil
Pretax return on assets: 0.87% ($5,107.3 mil)
Quarterly Pretax return on assets: 0.80% ($4,696.4 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)

Dollar figures in thousands
83Total employees (full-time equivalent)
$587,047Total assets
$108,825Cash and due from depository institutions
$106,633Interest-bearing balances
$217,176Securities
$0Federal funds sold & reverse repurchase agreements
$252,900Net loans & leases
$1,303Loan loss allowance
$0Trading account assets
$2,085Bank premises and fixed assets
$339Other real estate owned
$0Goodwill and other intangibles
$587,047Life insurance assets
$5,722All other assets
$486,677Total liabilities and capital
$484,628Total liabilities
$463,962Total deposits
$484,628Interest-bearing deposits
$98Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$2,049Subordinated debt
$100,370All other liabilities
$100,370Total equity capital
$100,370Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$100,370Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,182Income earned, not collected on loans
$0Earning assets
$1,333Long-term assets (5+ years)
$576,709Average Assets, year-to-date
$0Average Assets, quarterly
$587,954Volatile liabilities
$588,160Insider loans
$221,747FHLB advances
$589,004Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$102,327Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$31,418Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$19,820Total interest income
$4,381Total interest expense
$15,439Net interest income
$15Provision for loan and lease losses
$576Total noninterest income
$0Fiduciary activities
$239Service charges on deposit accounts
$0Trading account gains & fees
$337Additional noninterest income
$10,889Total noninterest expense
$6,742Salaries and employee benefits
$2,383Premises and equipment expense
$1,764Additional noninterest expense
$5,111Pre-tax net operating income
$0Securities gains (losses)
$1,885Applicable income taxes
$3,226Income before extraordinary items
$0Extraordinary gains - net
$3,226Net income attributable to bank
$0Net charge-offs
$3,226Cash dividends
$150Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
3.43%Yield on earning assets
0.76%Cost of funding earning assets
2.67%Net interest margin
0.10%Noninterest income to earning assets
1.88%Noninterest expense to earning assets
0.55%Net operating income to assets
0.55%Return on assets (ROA)
0.87%Pretax return on assets
3.26%Return on equity (ROE)
3.26%Retained earnings to average equity (YTD only)
0.06%Net charge-offs to loans
10.00%Credit loss provision to net charge-offs
34.17%Efficiency ratio
67,993Assets per employee
7.07%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.51%Loss allowance to noncurrent loans
110.24%Noncurrent assets plus other real estate owned to assets
0.26%Noncurrent loans to loans
0.46%Net loans and leases to deposits
52.18%Net loans and leases to core deposits
52.86%Equity capital to assets
17.10%Core capital (leverage) ratio
17.37%Tier 1 risk-based capital ratio
46.15%Total risk-based capital ratio
Memoranda
$47Average assets
$587,954Average earning assets
$98,831Average equity
$577,818Average loans

List of branches

7 New Jersey Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	41612	Somerset Savings Bank, Sla	220 West Union Avenue, Bound Brook, NJ 8805	January 01, 1887	Full Service Brick and Mortar
1	270479	Somerville	64 West End Avenue, Somerville, NJ 8876	January 01, 1887	Full Service Brick and Mortar
2	270480	Raritan	802 Somerset Street, Raritan, NJ 8869	January 01, 1887	Full Service Brick and Mortar
3	270481	Middlesex	1305 Bound Brook Road, Middlesex, NJ 8846	January 01, 1887	Full Service Brick and Mortar
4	270482	Whitehouse Branch	410 Route 22 West, Whitehouse, NJ 8888	January 01, 1887	Full Service Brick and Mortar
5	270483	Flemington	141 Broad Street, Flemington, NJ 8822	January 01, 1887	Full Service Brick and Mortar
100	270484	Manville Branch	41 South Main Street, Manville, NJ 8835	January 01, 1887	Full Service Brick and Mortar

Somerset Savings Bank, SLA in Bound Brook, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

Somerset Savings Bank, SLA - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Somerset Savings Bank, SLA in Bound Brook, New Jersey (NJ)Overview, Financial Summary, Detailed Financial Reports, Branches

Somerset Savings Bank, SLA - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Somerset Savings Bank, SLA in Bound Brook, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches