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Abacus Federal Savings Bank

Abacus Federal Savings Bank
Overview / Commentary
6 Bowery
New York, NY 10013

Abacus Federal Savings Bank is headquartered in New York and is the 106th largest bank in the state of New York. It is also the 2,518st largest bank in the nation. It was established in 1984 and as of March of 2014, it had grown to 118 employees at 5 locations. Abacus Federal Savings Bank has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Abacus Federal Savings Bank had $3.28 million in non-current loans and owned real-estate with $40.92 million in equity and loan loss allowances on hand to cover it. This gives Abacus Federal Savings Bank a Texas Ratio of 8.02% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Abacus Federal Savings Bank decreased dramatically from 11.53% as of March 31, 2013 to 8.02% as of March 31, 2014, resulting in a positive change of 30.42%.This indicates that the balance sheet and financial strength for Abacus Federal Savings Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Abacus Federal Savings Bank has decreased its total deposits by -$2.68 million, resulting in -1.27% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Abacus Federal Savings Bank has shown is average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Abacus Federal Savings Bank has $254.86 million in assets with $40.92 million in equity, resulting in a capitalization level of 16.06%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #32257
Year Established1984
Employees118
Primary RegulatorOCC
Assets and Liabilities
Assets$254.86 million
Loans$128.54 million
Deposits$207.35 million
Equity Capital$39.17 million
Loan Loss Allowance$1.76 million
Unbacked Noncurrent Loans$2.06 million
Real Estate Owned$1.22 million
Historic Data - March 2013
Assets$263.51 million
Equity Capital$39.79 million
Loan Loss Allowance$1.84 million
Unbacked Noncurrent Loans$2.06 million
Real Estate Owned$1.89 million
Profit Margin - Quarterly
Return on Assets-0.9%
Return on Equity-5.74%
Interest Income$1.79 million
Rates

Sorry, we do not have rate data for Abacus Federal Savings Bank

Locations


Abacus Federal Savings Bank Locations
Philadelphia Branch147-151 North 10th StreetPhiladelphia, PA 19107
Canal Street Branch181-183 Canal StNew York City, NY 10013
Flushing Branch36-30 Main StreetFlushing, NY 11354
Brooklyn Branch5518 8th AveNew York City, NY 11220
Abacus Federal Savings Bank6 BoweryNew York, NY 10013
Edison Branch869 U.S. Route 1 SouthEdison, NJ 8817