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Overview / Commentary
718-353-8100
146-01 Northern Boulevard
Flushing, NY 11354

NewBank is headquartered in Flushing and is the 118st largest bank in the state of New York. It is also the 3,168th largest bank in the nation. It was established in 2006 and as of March of 2014, it had grown to 27 employees at 3 locations. NewBank has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

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 NewBank had $2.12 million in non-current loans and owned real-estate with $25.61 million in equity and loan loss allowances on hand to cover it. This gives NewBank a Texas Ratio of 8.26% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for NewBank experienced no significant changes from 9.13% as of March 31, 2013 to 8.26% as of March 31, 2014, resulting in a positive change of 9.49%.This indicates that the balance sheet and financial strength for NewBank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, NewBank has increased its total deposits by $18.46 million, resulting in 13.34% 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 NewBank has shown is excellent.

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. NewBank has $190.56 million in assets with $25.61 million in equity, resulting in a capitalization level of 13.44%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #58203
Year Established2006
Employees27
Primary RegulatorFDIC
Assets and Liabilities
Assets$190.56 million
Loans$120.24 million
Deposits$156.81 million
Equity Capital$23.41 million
Loan Loss Allowance$2.21 million
Unbacked Noncurrent Loans$2.12 million
Real Estate Owned$0
Historic Data - March 2013
Assets$165.52 million
Equity Capital$19.09 million
Loan Loss Allowance$2.41 million
Unbacked Noncurrent Loans$2.12 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.88%
Return on Assets3.27%
Return on Equity26.6%
Interest Income$2.06 million
Rates

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Locations


NewBank Locations
Newbank146-01 Northern BoulevardFlushing, NY 11354
1475 Bergen Blvd Plaza West Branch1475 Bergen BlvdFort Lee, NJ 7024
Closter Branch189 Homans AvenueCloster, NJ 7624