Union Center National Bank in Union, New Jersey (NJ)
| Union Center National Bank | |
|---|---|
| General | FDIC Certificate #: 6431 Status: Active Federal Reserve ID: 29104 Bank Holding Company (Regulatory Top Holder): Center Bancorp, Inc. (RSSDID: 1048764, Location: Union, NJ) Date Established: September 24, 1923 WWW: http://www.ucnb.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 11 (Domestic: 11, Interstate: No) FDIC's unique #: 4307 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: Febuary 17, 2011 |
| Location | Address: 2455 Morris Avenue, Union, NJ 7083 County: Union 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) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $1,220.8 mil Equity capital: $12.3 mil Deposits held in domestic offices: $84.1 mil Return on assets (ROA): 0.53% ($6.5 mil) Quarterly return on assets: 0.73% ($8.9 mil) Return on Equity (ROE): 1.05.1974% ($0.1 mil) Quarterly return on equity: 1.07.1959% ($0.1 mil) Net income: $0.5 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.68% ($8,301.4 mil) Quarterly Pretax return on assets: 1.01.2029% ($12,330.0 mil) |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 159 |
| Total assets | $1,207,154 |
| Cash and due from depository institutions | $37,497 |
| Interest-bearing balances | $21,679 |
| Securities | $377,802 |
| Federal funds sold & reverse repurchase agreements | $310 |
| Net loans & leases | $699,577 |
| Loan loss allowance | $8,867 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $12,937 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $16,958 |
| All other assets | $62,073 |
| Life insurance assets | $27,905 |
| Total liabilities and capital | $1,207,154 |
| Total liabilities | $1,085,025 |
| Total deposits | $864,631 |
| Interest-bearing deposits | $814,898 |
| Deposits held in domestic offices | $864,631 |
| % insured (estimated) | 74.31% |
| Federal funds purchased & repurchase agreements | $82,855 |
| Trading liabilities | $0 |
| Other borrowed funds | $130,000 |
| Subordinated debt | $0 |
| All other liabilities | $7,539 |
| Total equity capital | $122,129 |
| Total bank equity capital | $122,129 |
| Perpetual preferred stock | $122,129 |
| Common stock | $0 |
| Surplus | $2,000 |
| Undivided profits | $70,165 |
| Memoranda | |
| Noncurrent loans and leases | $49,964 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $165,679 |
| Income earned, not collected on loans | $0 |
| Earning assets | $11,888 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $4,134 |
| Average Assets, quarterly | $1,099,368 |
| Volatile liabilities | $512,504 |
| Insider loans | $1,201,121 |
| FHLB advances | $1,213,972 |
| Loans and leases held for sale | $202,505 |
| Unused loan commitments | $6,573 |
| Tier 1 (core) risk-based capital | $130,000 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $333 |
| Total unused commitments | $165,679 |
| Restructured Loans and leases | $7,035 |
| Derivatives | $8,867 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $48,717 |
| Total interest expense | $14,624 |
| Net interest income | $34,093 |
| Provision for loan and lease losses | $5,076 |
| Total noninterest income | $3,382 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $1,383 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $1,999 |
| Total noninterest expense | $23,275 |
| Salaries and employee benefits | $10,765 |
| Premises and equipment expense | $3,182 |
| Additional noninterest expense | $9,328 |
| Pre-tax net operating income | $9,124 |
| Securities gains (losses) | -$1,242 |
| Applicable income taxes | $444 |
| Income before extraordinary items | $7,438 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $7,438 |
| Net charge-offs | $0 |
| Cash dividends | $7,438 |
| Sale, conversion, retirement of capital stock, net | $4,920 |
| Net operating income | $500 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.43% |
| Cost of funding earning assets | 1.33% |
| Net interest margin | 3.10% |
| Noninterest income to earning assets | 0.31% |
| Noninterest expense to earning assets | 2.12% |
| Net operating income to assets | 0.72% |
| Return on assets (ROA) | 0.62% |
| Pretax return on assets | 0.66% |
| Return on equity (ROE) | 6.55% |
| Retained earnings to average equity (YTD only) | 6.11% |
| Net charge-offs to loans | 0.69% |
| Credit loss provision to net charge-offs | 103.17% |
| Efficiency ratio | 2.89% |
| Assets per employee | $61,921 |
| Cash dividends to net income (YTD only) | 7.59% |
| Condition Ratios (%) | |
| Loss allowance to loans | 6.72% |
| Loss allowance to noncurrent loans | 1.25% |
| Noncurrent assets plus other real estate owned to assets | 74.59% |
| Noncurrent loans to loans | 0.98% |
| Net loans and leases to deposits | 1.68% |
| Net loans and leases to core deposits | 80.91% |
| Equity capital to assets | 93.91% |
| Core capital (leverage) ratio | 10.12% |
| Tier 1 risk-based capital ratio | 9.56% |
| Total risk-based capital ratio | 12.83% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $1,201,121 |
| Average equity | $113,474 |
| Average loans | $1,099,134 |
| Total Fiduciary and Related Assets (December 31, 2005) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $254 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $254 |
| Employee benefit-defined contribution accounts | $254 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $0 |
| 11 New Jersey Branches as of Febuary 17, 2011 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 4307 | Union Center National Bank | 2455 Morris Avenue, Union, NJ 7083 | September 24, 1923 | Full Service Brick and Mortar |  |
| 2 | 210093 | Five Points Branch | 356 Chestnut Street, Union, NJ 7083 | November 10, 1958 | Full Service Brick and Mortar |  |
| 3 | 210094 | Corporate Branch | 2455 Morris Avenue, Union, NJ 7083 | April 19, 1960 | Full Service Brick and Mortar | |
| 5 | 210096 | Springfield Branch | 783 Mountain Avenue, Springfield, NJ 7081 | January 31, 1977 | Full Service Brick and Mortar | |
| 6 | 210097 | Career Center Branch | North Third Street, Township Of Union, NJ 7083 | April 27, 1992 | Full Service Brick and Mortar | |
| 7 | 210098 | Berkeley Heights Branch | 512 Springfield Avenue, Berkeley Heights, NJ 7922 | June 01, 1992 | Full Service Brick and Mortar | |
| 8 | 210099 | Madison Banking Center Branch | 300 Main Street, Madison, NJ 7940 | June 10, 1996 | Full Service Brick and Mortar | |
| 11 | 288339 | Millburn Branch | 2933 Vauxhall Road, Vauxhall, NJ 7088 | March 01, 1992 | Full Service Brick and Mortar | |
| 13 | 210101 | Summit Banking Center Branch | 545 Morris Ave, Summit, NJ 7901 | June 19, 1999 | Full Service Brick and Mortar | |
| 14 | 363670 | Town Hall Branch | 214 South Street, Morristown, NJ 7960 | April 08, 2002 | Full Service Brick and Mortar | |
| 16 | 456638 | Mountain Lakes/Boonton Branch | 104 Ely Place, Boonton, NJ 7005 | October 03, 2006 | Full Service Brick and Mortar | |
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