Summit Bank in Hackensack, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 2001

  • Summit Bank in Hackensack, New Jersey (NJ)
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Summit Bank - Overview

  • General
  • FDIC Certificate #: 550
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 80703
    Date Established: December 08, 1899
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 384 (Interstate: No)
    FDIC's unique #: 388
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 01, 2001
    Last Structure Change Process Date: April 18, 2001
    Last Data Update: April 18, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 210 Main Street, Hackensack, NJ 7602
    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)
  • Financial Summary
  • Total assets: $34,126.5 mil

1992 - 1999 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, 2000)

  • Dollar figures in thousands
  • 7,870Total employees (full-time equivalent)
  • $34,126,472Total assets
  • $1,092,287Cash and due from depository institutions
  • $31,848Interest-bearing balances
  • $10,232,425Securities
  • $120,210Federal funds sold & reverse repurchase agreements
  • $21,193,673Net loans & leases
  • $284,986Loan loss allowance
  • $18,753Trading account assets
  • $281,954Bank premises and fixed assets
  • $27,908Other real estate owned
  • $208,338Goodwill and other intangibles
  • $0Life insurance assets
  • $950,924All other assets
  • $34,126,472Total liabilities and capital
  • $31,630,808Total liabilities
  • $23,402,339Total deposits
  • $18,394,284Interest-bearing deposits
  • $23,402,339Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $2,732,179Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,840,802Other borrowed funds
  • $167,047Subordinated debt
  • $488,441All other liabilities
  • $2,495,664Total equity capital
  • $2,495,664Total bank equity capital
  • $2,495,664Perpetual preferred stock
  • $6,000Common stock
  • $172,953Surplus
  • $800,855Undivided profits
  • Memoranda
  • $1,515,856Noncurrent loans and leases
  • $7,619,646Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $170,375Earning assets
  • $0Long-term assets (5+ years)
  • $180,894Average Assets, year-to-date
  • $31,596,909Average Assets, quarterly
  • $12,220,826Volatile liabilities
  • $33,070,087Insider loans
  • $34,052,655FHLB advances
  • $7,857,837Loans and leases held for sale
  • $220,425Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $1,265,889Tier 2 risk-based capital
  • $53,524Total risk weighted assets
  • $7,619,646Total unused commitments
  • $0Restructured Loans and leases
  • $323,255Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $2,434,824Total interest income
  • $1,225,415Total interest expense
  • $1,209,409Net interest income
  • $87,758Provision for loan and lease losses
  • $342,106Total noninterest income
  • $49,786Fiduciary activities
  • $114,425Service charges on deposit accounts
  • $5,436Trading account gains & fees
  • $172,459Additional noninterest income
  • $780,716Total noninterest expense
  • $432,991Salaries and employee benefits
  • $144,090Premises and equipment expense
  • $203,635Additional noninterest expense
  • $683,041Pre-tax net operating income
  • $44Securities gains (losses)
  • $222,506Applicable income taxes
  • $460,579Income before extraordinary items
  • $0Extraordinary gains - net
  • $460,579Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $86,933Sale, conversion, retirement of capital stock, net
  • $302,760Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.89%Yield on earning assets
  • 3.97%Cost of funding earning assets
  • 3.92%Net interest margin
  • 1.11%Noninterest income to earning assets
  • 2.53%Noninterest expense to earning assets
  • 1.39%Net operating income to assets
  • 1.39%Return on assets (ROA)
  • 2.07%Pretax return on assets
  • 20.06%Return on equity (ROE)
  • 6.87%Retained earnings to average equity (YTD only)
  • 0.42%Net charge-offs to loans
  • 100.95%Credit loss provision to net charge-offs
  • 8.87%Efficiency ratio
  • 49,140Assets per employee
  • 4.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 65.73%Loss allowance to loans
  • 1.33%Loss allowance to noncurrent loans
  • 167.27%Noncurrent assets plus other real estate owned to assets
  • 0.52%Noncurrent loans to loans
  • 0.79%Net loans and leases to deposits
  • 90.56%Net loans and leases to core deposits
  • 98.83%Equity capital to assets
  • 7.31%Core capital (leverage) ratio
  • 6.89%Tier 1 risk-based capital ratio
  • 8.92%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $33,070,087Average earning assets
  • $2,295,834Average equity
  • $30,856,765Average loans

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