Lusitania Savings Bank

Report generated from DepositInsuredBanks.com
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Overview

FDIC Cert 34058
Address
107 Pulaski Street, Newark, NJ 7105
FDIC Unique Number 56137
Federal Reserve ID 385686
Federal Reserve ID for Bank Holding Company 0
OCC Charter Number 0
OTS Docket Number 12260
MSA Newark, NJ
County Essex
Website http://www.lusitaniabank.com
Established On 09/01/1995
Insured On 09/01/1995
Holding Company
Regulator Federal Deposit Insurance Corporation
Asset Concentration All Other < $1 Billion
Ownership Type
Domestic Offices 4
Foreign Offices
Bank Charter Class SB - Savings banks, state charter, supervised by the FDIC

Recent Changes

Name Change
Change in Primary Regulatory Agency
Change in Chartering Agent
Change in Supervisory Agency

Financial Snapshot

USD, Thousands
Total Assets 280,143
Total Deposits 237,230
Domestic Deposits 237,230
Bank Equity Capital 41,039
Year to Date Quarterly
Net Income USD, 000 1,684 535
Return on Assets 0.8% 0.76%
Return on Equity 5.59% 5.25%
Pre-Tax Return on Assets 1.36% 1.26%
as of 09/30/2015

Financial Health

As of 09/30/2015
Low Risk

The Texas ratio is a measure of a bank's credit troubles. It is a way to measure how risky a bank is. The higher the Texas ratio, the more severe the credit troubles. Any bank with a TX Ratio near or greater than 100% is considered at risk. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets (Non performing loans + Real Estate Owned) by the sum of its tangible common equity capital and loan loss reserves.

Lusitania Savings Bank has a texas ratio of 9.8 which puts it at low risk. As of 09/30/2015 the bank had $3,582 Non Current Loans and Leases, $713 Other Real Estate Owned, $41,039 Total Equity Capital and $2,792 Loan Loss Allowance.

Historical Texas Ratios

Date Non Current Loans and Leases Other Real Estate Owned Total Equity Capital Loan Loss Allowance TX Ratio
09/30/2015 $3,582 $713 $41,039 $2,792 9.8
06/30/2015 $4,455 $917 $40,457 $2,643 12.46
03/31/2015 $3,413 $917 $39,936 $2,575 10.19
12/31/2014 $4,076 $917 $39,271 $2,497 11.95
09/30/2014 $5,333 $804 $38,964 $2,250 14.89
06/30/2014 $5,536 $793 $38,377 $2,283 15.57
03/31/2014 $5,922 $689 $37,669 $2,248 16.56
12/31/2013 $5,502 $717 $36,924 $2,537 15.76
09/30/2013 $4,036 $299 $36,493 $2,209 11.2
06/30/2013 $5,077 $299 $35,640 $2,159 14.22
03/31/2013 $5,266 $299 $35,319 $2,141 14.86
12/31/2012 $7,173 $299 $34,643 $3,723 19.48
09/30/2012 $7,056 $322 $34,412 $3,023 19.71
06/30/2012 $6,965 $154 $33,625 $3,059 19.41
03/31/2012 $7,397 $154 $32,938 $3,125 20.94
12/31/2011 $3,056 $154 $32,140 $3,108 9.11
09/30/2011 $2,729 $154 $31,705 $2,608 8.4
06/30/2011 $1,534 $154 $30,911 $2,559 5.04
03/31/2011 $1,314 $154 $30,157 $2,530 4.49
12/31/2010 $1,351 $154 $29,371 $2,520 4.72
09/30/2010 $1,350 $154 $28,960 $2,019 4.85
06/30/2010 $1,072 $0 $28,212 $1,969 3.55
03/31/2010 $1,195 $0 $27,473 $1,938 4.06
12/31/2009 $1,289 $0 $26,481 $1,888 4.54
09/30/2009 $1,316 $0 $26,700 $1,566 4.66
06/30/2009 $1,140 $0 $26,123 $1,541 4.12
03/31/2009 $1,140 $0 $25,472 $1,516 4.22

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Assets and Liabilities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total employees (full-time equivalent) 34 34 33 33 33 Chart
Total Assets 280,143 280,077 279,668 276,365 275,823 Chart
Cash & Balances due from depository institutions 75,603 75,108 68,395 58,525 55,554 Chart
Interest-bearing balances 72,320 72,049 64,510 55,095 52,951 Chart
Securities 48,265 49,224 50,565 54,495 55,763 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 148,392 147,795 149,951 152,507 154,012 Chart
Loan loss allowance 2,792 2,643 2,575 2,497 2,250 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 3,494 3,523 3,552 3,558 3,571 Chart
Other real estate owned 713 917 917 917 804 Chart
Goodwill and other intangibles 0 0 0 0 0 Chart
All other assets 3,676 3,510 6,288 6,363 6,119 Chart
Total Liabilities and Capital 280,143 280,077 279,668 276,365 275,823 Chart
Total Liabilities 239,104 239,620 239,732 237,094 236,859 Chart
Total deposits 237,230 237,911 238,049 235,460 235,187 Chart
Interest-bearing deposits 212,864 213,833 213,736 213,205 212,025 Chart
Deposits held in domestic offices 237,230 237,911 238,049 235,460 235,187 Chart
% insured (estimated) 97% 97% 97% 98% 97% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 0 0 0 0 0 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 1,874 1,709 1,683 1,634 1,672 Chart
Total equity capital 41,039 40,457 39,936 39,271 38,964 Chart
Bank equity capital 41,039 40,457 39,936 39,271 38,964 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 500 500 500 500 500 Chart
Surplus 0 0 0 0 0 Chart
Undivided profits 40,539 39,957 39,436 38,771 38,464 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 3,582 4,455 3,413 4,076 5,333 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 0 0 0 0 0 Chart
Income earned, not collected on loans 759 745 759 758 767 Chart
Earning assets 268,977 269,068 265,026 262,097 262,726 Chart
Long-term assets (5+ years) 155,770 152,005 161,688 164,354 164,203 Chart
Average total assets 279,063 278,703 278,017 276,660 276,734 Chart
Average assets, quarterly 280,110 279,873 278,017 276,094 276,630 Chart
Total risk weighted assets adjusted 111,256 110,665 113,441 114,814 115,902 Chart
Adjusted average assets for leverage capital purposes 280,398 279,622 275,814 277,058 276,646 Chart
Life insurance assets 797 797 3,539 3,421 3,369 Chart
General account life insurance assets 118 118 118 0 0 Chart
Separate account life insurance assets 679 679 3,421 3,421 3,369 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 2,519 2,514 2,143 2,450 2,447 Chart
Insider loans 173 185 198 211 224 Chart
FHLB advances 0 0 0 0 0 Chart
Loans and leases held for sale 0 0 0 0 0 Chart
Unused loan commitments 16,849 16,896 16,867 15,875 15,209 Chart
Tier one (core) capital 40,923 40,388 39,780 39,238 38,973 Chart
Tier 2 Risk-based capital 1,408 1,398 1,432 1,448 1,459 Chart
Total unused commitments 16,849 16,896 16,867 15,875 15,209 Chart
Derivatives 0 0 0 0 0 Chart

Income and Expenses

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total interest income 6,613 4,424 2,180 8,535 6,609 Chart
Total interest expense 595 386 188 762 569 Chart
Net interest income 6,018 4,038 1,992 7,773 6,040 Chart
Provision for loan and lease losses 300 200 100 400 188 Chart
Total noninterest income 139 82 26 254 166 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 0 0 0 0 0 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 139 82 26 254 166 Chart
Total noninterest expense 3,003 1,951 977 4,098 2,913 Chart
Salaries and employee benefits 1,772 1,169 592 2,473 1,711 Chart
Premises and equipment expense 573 385 188 728 546 Chart
Additional noninterest expense 658 397 197 897 656 Chart
Pre-tax net operating income 2,854 1,969 941 3,529 3,105 Chart
Securities gains (losses) 0 0 0 0 0 Chart
Applicable income taxes 1,170 820 399 1,417 1,258 Chart
Income before extraordinary items 1,684 1,149 542 2,112 1,847 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 1,684 1,149 542 2,112 1,847 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 1,684 1,149 542 2,112 1,847 Chart
Net charge-offs 5 54 22 440 475 Chart
Cash dividends 0 0 0 0 0 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 1,684 1,149 542 2,112 1,847 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 48,265 49,224 50,565 54,495 55,763 Chart
U.S. Government securities 44,265 47,224 50,565 54,495 55,763 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 44,265 47,224 50,565 54,495 55,763 Chart
Securities issued by states & political subdivisions 0 0 0 0 0 Chart
Other domestic debt securities 4,000 2,000 0 0 0 Chart
Privately issued residential mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 0 0 0 0 0 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 4,000 2,000 0 0 0 Chart
Foreign debt securities 0 0 0 0 0 Chart
Equity securities 0 0 0 0 0 Chart
Assets held in trading accounts for TFR Reporters 0 0 0 0 0 Chart
General valuation allowances for securities for TFR Reporters 0 0 0 0 0 Chart
Memoranda
Pledged securities 5,034 6,180 6,288 6,394 6,525 Chart
Mortgage-backed securities 40,265 43,224 44,565 48,495 49,763 Chart
Certificates of participation in pools of residential mortgages 15,118 19,625 20,654 21,736 22,961 Chart
Issued or guaranteed by U.S. 15,118 19,625 20,654 21,736 22,961 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 0 0 0 0 0 Chart
CMOs issued by government agencies or sponsored agencies 0 0 0 0 0 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 25,147 23,599 23,911 26,759 26,802 Chart
Commercial mortgage pass-through securities 25,147 23,599 23,911 26,759 26,802 Chart
Other commercial mortgage-backed securities 0 0 0 0 0 Chart
Held to maturity securities (book value) 36,901 35,938 36,810 39,644 40,592 Chart
Available-for-sale securities (fair market value) 11,364 13,286 13,755 14,851 15,171 Chart
Total debt securities 48,265 49,224 50,566 54,495 55,763 Chart
Structured Notes
Amortized cost 4,000 0 0 0 0 Chart
Fair value 3,984 0 0 0 0 Chart
Trading account assets 0 0 0 0 0 Chart
Revaluation gains on off-balance sheet contracts 0 0 0 0 0 Chart
Revaluation losses on off-balance sheet contracts 0 0 0 0 0 Chart

Performance and Condition Ratios

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
% of unprofitable institutions N/A N/A N/A N/A N/A Chart
% of insitutions with earnings gains N/A N/A N/A N/A N/A Chart
Performance Ratios (%, annualized)
Yield on earning assets 3.31% 3.33% 3.31% 3.25% 3.35% Chart
Cost of funding earning assets 0.30% 0.29% 0.29% 0.29% 0.29% Chart
Net interest margin 3.01% 3.04% 3.02% 2.96% 3.06% Chart
Noninterest income to average assets 0.07% 0.06% 0.04% 0.09% 0.08% Chart
Noninterest expense to average assets 1.43% 1.40% 1.41% 1.48% 1.40% Chart
Loan and lease loss provision to assets 0.14% 0.14% 0.14% 0.14% 0.09% Chart
Net operating income to assets 0.80% 0.82% 0.78% 0.76% 0.89% Chart
Return on assets (ROA) 0.80% 0.82% 0.78% 0.76% 0.89% Chart
Pretax return on assets 1.36% 1.41% 1.35% 1.28% 1.50% Chart
Return on Equity (ROE) 5.59% 5.76% 5.47% 5.52% 6.48% Chart
Retained earnings to average equity (YTD only) 5.59% 5.76% 5.47% 5.52% 6.48% Chart
Net charge-offs to loans 0.00% 0.07% 0.06% 0.28% 0.40% Chart
Credit loss provision to net charge-offs 6000.00% 370.37% 454.55% 90.91% 39.58% Chart
Earnings coverage of net charge-offs (x) 630.47% 40.17% 47.32% 8.93% 6.93% Chart
Efficiency ratio 48.77% 47.35% 48.41% 51.05% 46.94% Chart
Assets per employee ($millions) 8.24% 8.24% 8.47% 8.37% 8.36% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 0.00% 0.00% Chart
Condition Ratios (%)
Loss allowance to loans 1.85% 1.76% 1.69% 1.61% 1.44% Chart
Loan loss allowance to noncurrent loans 77.95% 59.33% 75.45% 61.26% 42.19% Chart
Noncurrent assets plus other real estate owned to assets 1.53% 1.92% 1.55% 1.81% 2.22% Chart
Noncurrent loans to loans 2.37% 2.96% 2.24% 2.63% 3.41% Chart
Net loans and leases to total assets 52.97% 52.77% 53.62% 55.18% 55.84% Chart
Net loans and leases to deposits 62.55% 62.12% 62.99% 64.77% 65.48% Chart
Net loans and leases to core deposits 63.22% 62.79% 63.56% 65.45% 66.17% Chart
Total domestic deposits to total assets 84.68% 84.94% 85.12% 85.20% 85.27% Chart
Equity capital to assets 14.65% 14.44% 14.28% 14.21% 14.13% Chart
Core capital (leverage) ratio 14.59% 14.44% 14.42% 14.16% 14.09% Chart
Tier 1 risk-based capital ratio 36.78% 36.50% 35.07% 34.18% 33.63% Chart
Total risk-based capital ratio 38.05% 37.76% 36.33% 35.44% 34.88% Chart
Memoranda
Average total assets 279,063 278,703 278,017 276,660 276,734 Chart
Average earning assets 266,292 265,397 263,562 262,978 263,198 Chart
Average equity 40,176 39,888 39,604 38,241 37,984 Chart
Average loans 152,288 152,656 153,765 158,191 158,988 Chart