West Essex Bank, FSB in Caldwell, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 2003

  • West Essex Bank, FSB in Caldwell, New Jersey (NJ)
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West Essex Bank, FSB - Overview

  • General
  • FDIC Certificate #: 30073
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Kearny Federal Savings Bank (#28765)
    Federal Reserve ID: 800077
    Date Established: January 01, 1915
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 4684
    FDIC's unique #: 42907
    Numeric code: 34
    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: April 03, 1945
    Last Structure Change Effective Date: July 01, 2003
    Last Structure Change Process Date: July 10, 2003
    Last Data Update: July 10, 2003
    Data Source Date: April 05, 2012
  • Location
  • Address: 417 Bloomfield Avenue, Caldwell, NJ 7006
    County: Essex
    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): Newark, NJ (#5640)
    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: Newark-Union, NJ-PA (#35084)
  • Financial Summary
  • Total assets: $369.3 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, 2002)

  • Dollar figures in thousands
  • 48Total employees (full-time equivalent)
  • $391,530Total assets
  • $5,557Cash and due from depository institutions
  • $4,171Interest-bearing balances
  • $209,148Securities
  • $21,000Federal funds sold & reverse repurchase agreements
  • $138,461Net loans & leases
  • $1,363Loan loss allowance
  • $0Trading account assets
  • $2,387Bank premises and fixed assets
  • $0Other real estate owned
  • $2,865Goodwill and other intangibles
  • $0Life insurance assets
  • $12,112All other assets
  • $391,530Total liabilities and capital
  • $341,844Total liabilities
  • $255,632Total deposits
  • $234,892Interest-bearing deposits
  • $255,632Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $42,000Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $43,113Other borrowed funds
  • $0Subordinated debt
  • $1,099All other liabilities
  • $49,686Total equity capital
  • $49,686Total bank equity capital
  • $49,686Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $9,509Undivided profits
  • Memoranda
  • $40,177Noncurrent loans and leases
  • $16,490Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $833Earning assets
  • $0Long-term assets (5+ years)
  • $836Average Assets, year-to-date
  • $372,780Average Assets, quarterly
  • $0Volatile liabilities
  • $381,992Insider loans
  • $389,723FHLB advances
  • $127,504Loans and leases held for sale
  • $679Unused loan commitments
  • $42,282Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $16,490Total unused commitments
  • $0Restructured Loans and leases
  • $1,363Derivatives

Income and Expense (December 31, 2002)

  • Dollar figures in thousands
  • $21,827Total interest income
  • $10,798Total interest expense
  • $11,029Net interest income
  • $0Provision for loan and lease losses
  • $854Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $854Additional noninterest income
  • $8,763Total noninterest expense
  • $5,249Salaries and employee benefits
  • $1,588Premises and equipment expense
  • $1,926Additional noninterest expense
  • $3,120Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,253Applicable income taxes
  • $1,867Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,867Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $1,039Net operating income

Performance and Condition Ratios (December 31, 2002)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.02%Yield on earning assets
  • 2.98%Cost of funding earning assets
  • 3.04%Net interest margin
  • 0.24%Noninterest income to earning assets
  • 2.42%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.49%Return on assets (ROA)
  • 0.82%Pretax return on assets
  • 3.83%Return on equity (ROE)
  • 1.70%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 68,754Assets per employee
  • 8.16%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 55.65%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 163.63%Noncurrent assets plus other real estate owned to assets
  • 0.21%Noncurrent loans to loans
  • 0.60%Net loans and leases to deposits
  • 54.16%Net loans and leases to core deposits
  • 64.93%Equity capital to assets
  • 12.69%Core capital (leverage) ratio
  • 12.05%Tier 1 risk-based capital ratio
  • 35.43%Total risk-based capital ratio
  • Memoranda
  • $36Average assets
  • $381,992Average earning assets
  • $48,739Average equity
  • $362,575Average loans

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