Sovereign Community Bank in Freehold, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 31, 1997

  • Sovereign Community Bank in Freehold, New Jersey (NJ)
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Sovereign Community Bank - Overview

  • General
  • FDIC Certificate #: 27323
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: Sovereign Bank, National Association (#29950)
    Federal Reserve ID: 1229200
    Date Established: August 29, 1988
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 13041
    FDIC's unique #: 39577
    Numeric code: 43
    Regulator: OTS
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: August 29, 1988
    Last Structure Change Effective Date: March 31, 1997
    Last Structure Change Process Date: May 12, 1997
    Last Data Update: May 12, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 521 Park Avenue, Freehold, NJ 7728
    County: Monmouth
    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): Monmouth-Ocean, NJ (#5190)
    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: $232.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $8Total assets
  • $232,689Cash and due from depository institutions
  • $1,021Interest-bearing balances
  • $0Securities
  • $4,065Federal funds sold & reverse repurchase agreements
  • $88,517Net loans & leases
  • $130,342Loan loss allowance
  • $1,254Trading account assets
  • $0Bank premises and fixed assets
  • $2,513Other real estate owned
  • $28Goodwill and other intangibles
  • $3,111Life insurance assets
  • $3,092All other assets
  • $0Total liabilities and capital
  • $232,689Total liabilities
  • $217,351Total deposits
  • $217,058Interest-bearing deposits
  • $217,058Deposits held in domestic offices
  • 217058.00%% insured (estimated)
  • $94Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $293Total equity capital
  • $293Total bank equity capital
  • $15,338Perpetual preferred stock
  • $0Common stock
  • $2,694Surplus
  • $12,282Undivided profits
  • Memoranda
  • $362Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $993Income earned, not collected on loans
  • $776Earning assets
  • $222,924Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $130,046Average Assets, quarterly
  • $200,600Volatile liabilities
  • $27,796Insider loans
  • $116FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $2,016Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $12,246Total risk weighted assets
  • $134,172Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $8,546Total interest expense
  • $5,148Net interest income
  • $3,398Provision for loan and lease losses
  • $750Total noninterest income
  • $247Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $247Total noninterest expense
  • $2,483Salaries and employee benefits
  • $398Premises and equipment expense
  • $293Additional noninterest expense
  • $1,792Pre-tax net operating income
  • $412Securities gains (losses)
  • $0Applicable income taxes
  • $82Income before extraordinary items
  • $330Extraordinary gains - net
  • $0Net income attributable to bank
  • $330Net charge-offs
  • -$18Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.00%Cost of funding earning assets
  • 4.22%Net interest margin
  • 2.78%Noninterest income to earning assets
  • 0.20%Noninterest expense to earning assets
  • 2.03%Net operating income to assets
  • 0.25%Return on assets (ROA)
  • 0.25%Pretax return on assets
  • 0.32%Return on equity (ROE)
  • 3.12%Retained earnings to average equity (YTD only)
  • 3.12%Net charge-offs to loans
  • -0.04%Credit loss provision to net charge-offs
  • -4166.67%Efficiency ratio
  • 61,975Assets per employee
  • 29.09%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.95%Loss allowance to noncurrent loans
  • 125.78%Noncurrent assets plus other real estate owned to assets
  • 0.44%Noncurrent loans to loans
  • 0.75%Net loans and leases to deposits
  • 60.05%Net loans and leases to core deposits
  • 68.87%Equity capital to assets
  • 6.59%Core capital (leverage) ratio
  • 5.33%Tier 1 risk-based capital ratio
  • 9.13%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $130,046Average earning assets
  • $10,571Average equity
  • $122,030Average loans

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