Spencer Savings Bank, SLA in Elmwood Park, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Spencer Savings Bank, SLA in Elmwood Park, New Jersey (NJ)
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Spencer Savings Bank, SLA - Overview

  • General
  • FDIC Certificate #: 30076
    Status: Active
    Federal Reserve ID: 845573
    Date Established: September 19, 1939
    WWW: http://www.spencersavings.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 20 (Domestic: 20, Interstate: No)
    OTS Docket #: 4693
    FDIC's unique #: 42910
    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: Commercial Lending Specialization
    Date of Deposit Insurance: September 19, 1939
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: River Drive Center 3 - 611 River Drive, Elmwood Park, NJ 7407
    County: Bergen
    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
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $1,819.6 mil
    Equity capital: $230.0 mil
    Deposits held in domestic offices: $1,338.8 mil
    Return on assets (ROA): 0.73% ($13.3 mil)
    Quarterly return on assets: 0.60% ($10.9 mil)
    Return on Equity (ROE): 5.72% ($13.2 mil)
    Quarterly return on equity: 4.69% ($10.8 mil)
    Net income: $13.2 mil
    Quarterly Net income: $2.7 mil
    Pretax return on assets: 1.09% ($19,833.1 mil)
    Quarterly Pretax return on assets: 0.89% ($16,194.0 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
  • 221Total employees (full-time equivalent)
  • $1,819,550Total assets
  • $38,606Cash and due from depository institutions
  • $31,351Interest-bearing balances
  • $433,282Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,210,206Net loans & leases
  • $14,447Loan loss allowance
  • $0Trading account assets
  • $19,427Bank premises and fixed assets
  • $8,527Other real estate owned
  • $107Goodwill and other intangibles
  • $1,819,550Life insurance assets
  • $109,395All other assets
  • $1,589,594Total liabilities and capital
  • $1,338,835Total liabilities
  • $1,321,691Total deposits
  • $1,338,835Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $223,000Trading liabilities
  • $0Other borrowed funds
  • $27,759Subordinated debt
  • $229,956All other liabilities
  • $229,956Total equity capital
  • $229,956Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $229,956Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $18,845Income earned, not collected on loans
  • $0Earning assets
  • $5,252Long-term assets (5+ years)
  • $1,674,839Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $1,805,953Volatile liabilities
  • $1,814,471Insider loans
  • $1,349,267FHLB advances
  • $1,834,660Loans and leases held for sale
  • $47,582Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $225,065Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $135,765Restructured Loans and leases
  • $1,048Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $78,901Total interest income
  • $22,453Total interest expense
  • $56,448Net interest income
  • $5,400Provision for loan and lease losses
  • $4,210Total noninterest income
  • $0Fiduciary activities
  • $422Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,788Additional noninterest income
  • $35,191Total noninterest expense
  • $21,169Salaries and employee benefits
  • $7,006Premises and equipment expense
  • $7,016Additional noninterest expense
  • $20,067Pre-tax net operating income
  • -$304Securities gains (losses)
  • $6,610Applicable income taxes
  • $13,153Income before extraordinary items
  • $0Extraordinary gains - net
  • $13,153Net income attributable to bank
  • $0Net charge-offs
  • $13,153Cash dividends
  • $3,071Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.72%Yield on earning assets
  • 1.34%Cost of funding earning assets
  • 3.38%Net interest margin
  • 0.25%Noninterest income to earning assets
  • 2.10%Noninterest expense to earning assets
  • 0.74%Net operating income to assets
  • 0.73%Return on assets (ROA)
  • 1.09%Pretax return on assets
  • 5.72%Return on equity (ROE)
  • 5.72%Retained earnings to average equity (YTD only)
  • 0.26%Net charge-offs to loans
  • 175.84%Credit loss provision to net charge-offs
  • 8.29%Efficiency ratio
  • 58,015Assets per employee
  • 8.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.18%Loss allowance to noncurrent loans
  • 76.66%Noncurrent assets plus other real estate owned to assets
  • 1.50%Noncurrent loans to loans
  • 1.54%Net loans and leases to deposits
  • 90.39%Net loans and leases to core deposits
  • 91.83%Equity capital to assets
  • 12.64%Core capital (leverage) ratio
  • 14.36%Tier 1 risk-based capital ratio
  • 16.68%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $1,805,953Average earning assets
  • $230,127Average equity
  • $1,672,309Average loans

List of branches

  • 20 New Jersey Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    042910Spencer Savings Bank, SlaRiver Drive Center 3 - 611 River Drive, Elmwood Park, NJ 7407September 19, 1939Full Service Brick and Mortar
    1278489104 Passaic St Branch104 Passaic St, Garfield, NJ 7026September 19, 1939Full Service Brick and Mortar
    2278490107 South Main Street Branch107 South Main Street, Lodi, NJ 7644September 19, 1939Full Service Brick and Mortar
    3278491487 Market St Branch487 Market St, Saddle Brook, NJ 7662September 19, 1939Full Service Brick and Mortar
    4278492219 Maple Ave Branch219 Maple Ave, Wallington, NJ 7057September 19, 1939Full Service Brick and Mortar
    100278493437 Piaget Ave Branch437 Piaget Ave, Clifton, NJ 7011September 19, 1939Full Service Brick and Mortar
    101278494Lyndhurst Branch230 Ridge Road, Lyndhurst, NJ 7071September 19, 1939Full Service Brick and Mortar
    103278496River Drive Branch800 River Drive, Garfield, NJ 7026June 30, 1986Full Service Brick and Mortar
    106284001618 Bayway Ave Branch618 Bayway Ave, Elizabeth, NJ 7202January 01, 1910Full Service Brick and Mortar
    1072840031331 Magie Ave Branch1331 Magie Ave, Union, NJ 7083January 01, 1910Full Service Brick and Mortar
    108278497140 Market Street Branch140 Market Street, Saddle Brook, NJ 7662August 19, 1980Full Service Brick and Mortar
    109278498Nutley Branch375 Franklin Ave, Nutley, NJ 7110June 17, 1994Full Service Brick and Mortar
    110464408Outwater Ln Branch34 Outwater Ln, Garfield, NJ 7026June 30, 1986Full Service Brick and Mortar
    111464409Roselle Branch220 Chestnut Street, Roselle, NJ 7203June 01, 2002Full Service Brick and Mortar
    112464411Cranford Branch213 South Avenue, Cranford, NJ 7016Febuary 24, 2003Full Service Brick and Mortar
    113464412Garwood Branch325 North Avenue, Garwood, NJ 7027July 19, 2003Full Service Brick and Mortar
    114464413North Caldwell Branch9 Bloomfield Avenue, North Caldwell, NJ 7006June 12, 2004Full Service Brick and Mortar
    115464414Van Houten Ave Branch920 Van Houten Avenue, Clifton, NJ 7015November 26, 2005Full Service Brick and Mortar
    116519694Elmwood Park Branch680 River Drive, Elmwood Park, NJ 7407October 11, 2007Full Service Brick and Mortar
    117522039Hamburg Turnpike Branch183 Hamburg Turnpike, Wayne, NJ 7470March 14, 2011Full Service Brick and Mortar

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