12/2/2023 0 Comments Abacus federal savings bank imdb![]() The higher the capitalization number the more secure a bank is considered. The founders purpose in starting Abacus Bank was to provide financial services to immigrants and local residents of lower Manhattan. Abacus Federal Savings Bank was founded in December, 1984 by a group of business leaders from the Chinese community in New York City. A small financial institution called Abacus becomes the only company criminally indicted in the wake of the United States' 2008 mortgage crisis. With Thomas Sung, Hwei Lin Sung, Cyrus Vance Jr., Matt Taibbi. CapitalizationĪbacus Federal Savings Bank has a Capitalization of 16.01% versus the BestCashCow average of 10.43.Ĭapitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. Abacus Federal Savings BankĚbout Abacus Federal Savings Bank. Abacus: Small Enough to Jail: Directed by Steve James. A bank with a consistently high ROE can be considered well run.Ī bank with a consistently low ROE can be considered poorly run. Return on equity measures how efficiently a bank is making money from its capital. To cover these potential losses it had $52,553,000 in equity and $2,978,000 in loans loss reserves.Ībacus Federal Savings Bank has a Return on Equity of 2.82% versus the BestCashCow average of 13.18%. THOMAS SUNG, Founder & Chairman, Abacus Federal Savings Bank: First time I saw It’s A Wonderful Life, I had tremendous respect for George Bailey, who is the main character. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bankĪbacus Federal Savings Bank had $2,024,000 in non-current loans and $0 in owned real estate. With its tangible common equity and its loan loss reserves.Ī lower Texas ratio indicates better coverage of problem loans. ![]() The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) Here are some of benefits of HELOC: Manage your HELOC through Online Banking. For other inquires or issues, please call the main number 21 then followed by a 4 digits extension number, Monday through Friday, 9:00am to 5:00pm EST. With a home equity line of credit, you can get the extra cash you need for renovation, debit consolidation, vacation, college, new car and more. ![]() Telephone banking is available in English and Mandarin. No depositor has ever lost deposits that have been within the FDIC insurance limits. 24/7 Telephone Banking Services: Please call 1-88. The following ratios and data are available to help you better understand the financial condition of Abacus Federal Savings Bank. Abacus Federal Savings Bank Ratio Analysis Abacus is believed to be the only bank to face a criminal trial in the United States on charges of mortgage fraud in the run-up to the 2008 financial crisis.
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