FDIC Certificate #: 28728 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Valley National Bank (#9396) Federal Reserve ID: 567277 Date Established: January 01, 1921 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 2243 FDIC's unique #: 41562 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: No Date of Deposit Insurance: June 02, 1947 Last Structure Change Effective Date: October 16, 1998 Last Structure Change Process Date: November 05, 1998 Last Data Update: November 05, 1998 Data Source Date: April 05, 2012
Location
Address: 1255 Hamburg Turnpike, Wayne, NJ 7470 County: Passaic 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: $270.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
63Total employees (full-time equivalent)
$269,495Total assets
$6,838Cash and due from depository institutions
$5,267Interest-bearing balances
$75,514Securities
$0Federal funds sold & reverse repurchase agreements
$179,213Net loans & leases
$2,024Loan loss allowance
$0Trading account assets
$3,213Bank premises and fixed assets
$186Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,531All other assets
$269,495Total liabilities and capital
$241,405Total liabilities
$199,981Total deposits
$188,279Interest-bearing deposits
$199,981Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$36,837Other borrowed funds
$0Subordinated debt
$4,587All other liabilities
$28,090Total equity capital
$28,090Total bank equity capital
$28,090Perpetual preferred stock
$0Common stock
$1Surplus
$10,772Undivided profits
Memoranda
$17,317Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,328Earning assets
$0Long-term assets (5+ years)
$799Average Assets, year-to-date
$259,994Average Assets, quarterly
$0Volatile liabilities
$257,503Insider loans
$268,152FHLB advances
$56,523Loans and leases held for sale
$728Unused loan commitments
$32,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$29,014Total unused commitments
$0Restructured Loans and leases
$122,784Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$18,625Total interest income
$10,380Total interest expense
$8,245Net interest income
$400Provision for loan and lease losses
$1,016Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$1,016Additional noninterest income
$5,672Total noninterest expense
$3,051Salaries and employee benefits
$1,082Premises and equipment expense
$1,539Additional noninterest expense
$3,189Pre-tax net operating income
-$2Securities gains (losses)
$1,213Applicable income taxes
$1,974Income before extraordinary items
$0Extraordinary gains - net
$1,974Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$49Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.49%Yield on earning assets
4.18%Cost of funding earning assets
3.32%Net interest margin
0.41%Noninterest income to earning assets
2.28%Noninterest expense to earning assets
0.77%Net operating income to assets
0.77%Return on assets (ROA)
1.24%Pretax return on assets
7.34%Return on equity (ROE)
7.34%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
816.33%Credit loss provision to net charge-offs
73.24%Efficiency ratio
61,246Assets per employee
4.28%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.12%Loss allowance to noncurrent loans
86.94%Noncurrent assets plus other real estate owned to assets
0.89%Noncurrent loans to loans
1.28%Net loans and leases to deposits
89.62%Net loans and leases to core deposits
99.40%Equity capital to assets
10.42%Core capital (leverage) ratio
10.33%Tier 1 risk-based capital ratio
22.65%Total risk-based capital ratio
Memoranda
$24Average assets
$257,503Average earning assets
$26,884Average equity
$248,578Average loans
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