Somerset Valley Bank in Somerville, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 05, 2007

  • Somerset Valley Bank in Somerville, New Jersey (NJ)
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Somerset Valley Bank - Overview

  • General
  • FDIC Certificate #: 33540
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Skylands Community Bank (#33141)
    Federal Reserve ID: 1916612
    Date Established: December 19, 1991
    WWW: http://www.somersetvalleybank.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 13 (Interstate: No)
    FDIC's unique #: 47420
    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: December 19, 1991
    Last Structure Change Effective Date: May 05, 2007
    Last Structure Change Process Date: September 11, 2007
    Last Data Update: September 11, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 103 West End Avenue, Somerville, NJ 8876
    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: $549.5 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, 2006)

  • Dollar figures in thousands
  • 102Total employees (full-time equivalent)
  • $575,347Total assets
  • $16,846Cash and due from depository institutions
  • $50Interest-bearing balances
  • $163,128Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $309,090Net loans & leases
  • $2,931Loan loss allowance
  • $0Trading account assets
  • $10,918Bank premises and fixed assets
  • $0Other real estate owned
  • $61,440Goodwill and other intangibles
  • $9,329Life insurance assets
  • $13,925All other assets
  • $575,347Total liabilities and capital
  • $482,292Total liabilities
  • $403,054Total deposits
  • $369,086Interest-bearing deposits
  • $403,054Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $55,646Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $21,517Other borrowed funds
  • $0Subordinated debt
  • $2,075All other liabilities
  • $93,055Total equity capital
  • $93,055Total bank equity capital
  • $93,055Perpetual preferred stock
  • $0Common stock
  • $7,943Surplus
  • $87,084Undivided profits
  • Memoranda
  • $-1,972Noncurrent loans and leases
  • $39,031Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $341Earning assets
  • $0Long-term assets (5+ years)
  • $2,562Average Assets, year-to-date
  • $472,268Average Assets, quarterly
  • $77,472Volatile liabilities
  • $571,459Insider loans
  • $576,959FHLB advances
  • $100,074Loans and leases held for sale
  • $501Unused loan commitments
  • $11,449Tier 1 (core) risk-based capital
  • $7,593Tier 2 risk-based capital
  • $717Total risk weighted assets
  • $39,031Total unused commitments
  • $0Restructured Loans and leases
  • $2,931Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $29,985Total interest income
  • $12,537Total interest expense
  • $17,448Net interest income
  • $0Provision for loan and lease losses
  • $1,712Total noninterest income
  • $0Fiduciary activities
  • $484Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,228Additional noninterest income
  • $14,232Total noninterest expense
  • $6,207Salaries and employee benefits
  • $2,893Premises and equipment expense
  • $5,132Additional noninterest expense
  • $4,928Pre-tax net operating income
  • $61Securities gains (losses)
  • $1,396Applicable income taxes
  • $3,593Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,593Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $177Sale, conversion, retirement of capital stock, net
  • $6,850Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.41%Yield on earning assets
  • 2.68%Cost of funding earning assets
  • 3.73%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 3.04%Noninterest expense to earning assets
  • 0.62%Net operating income to assets
  • 0.63%Return on assets (ROA)
  • 0.87%Pretax return on assets
  • 3.78%Return on equity (ROE)
  • -3.43%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 27.84%Efficiency ratio
  • 66,994Assets per employee
  • 5.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 190.65%Loss allowance to loans
  • 0.94%Loss allowance to noncurrent loans
  • 859.53%Noncurrent assets plus other real estate owned to assets
  • 0.06%Noncurrent loans to loans
  • 0.11%Net loans and leases to deposits
  • 76.69%Net loans and leases to core deposits
  • 85.35%Equity capital to assets
  • 16.17%Core capital (leverage) ratio
  • 6.76%Tier 1 risk-based capital ratio
  • 9.89%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $571,459Average earning assets
  • $95,037Average equity
  • $467,951Average loans

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