Applied Bank in Wilmington, Delaware (DE)
| Applied Bank | |
|---|---|
| General | FDIC Certificate #: 34193 Status: Active Federal Reserve ID: 2467670 Date Established: July 01, 1996 WWW: http://www.appliedbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 56851 Numeric code: 21 Regulator: FDIC 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: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: July 01, 1996 Last Structure Change Effective Date: May 28, 2008 Last Structure Change Process Date: September 22, 2008 Last Data Update: September 22, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 601 Delaware Avenue, Wilmington, DE 19801 County: New Castle Quarterly Banking Profile Region: New York FDIC Geographic Region: New York FDIC Supervisory Region: New York FDIC Field Office: Claymont Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Northeast Metropolitan Statistical Area (MSA): Wilmington-Newark, DE-MD (#9160) Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77) Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428) Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980) CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980) Core Based Statistical Division: Wilmington, DE-MD-NJ (#48864) |
| History of Changes | Corrections Name Change |
| Financial Summary | Total assets: $220.5 mil Equity capital: $56.3 mil Deposits held in domestic offices: $163.8 mil Return on assets (ROA): 2.31% ($5.1 mil) Quarterly return on assets: 2.00% ($4.4 mil) Return on Equity (ROE): 8.49% ($4.8 mil) Quarterly return on equity: 6.84% ($3.8 mil) Net income: $4.6 mil Quarterly Net income: $1.0 mil Pretax return on assets: 2.43% ($5,357.5 mil) Quarterly Pretax return on assets: 2.10% ($4,630.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 38 |
| Total assets | $220,474 |
| Cash and due from depository institutions | $116,911 |
| Interest-bearing balances | $115,676 |
| Securities | $34,725 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $67,098 |
| Loan loss allowance | $917 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $497 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,243 |
| Life insurance assets | $220,474 |
| Total liabilities and capital | $164,150 |
| Total liabilities | $163,847 |
| Total deposits | $109,777 |
| Interest-bearing deposits | $163,847 |
| Deposits held in domestic offices | $58 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $303 |
| All other liabilities | $56,324 |
| Total equity capital | $56,324 |
| Total bank equity capital | $56,324 |
| Perpetual preferred stock | $0 |
| Common stock | $3,500 |
| Surplus | $39,103 |
| Undivided profits | $13,721 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $7 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $334 |
| Average Assets, year-to-date | $217,499 |
| Average Assets, quarterly | $21,734 |
| Volatile liabilities | $199,424 |
| Insider loans | $191,280 |
| FHLB advances | $72,530 |
| Loans and leases held for sale | $383,097 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $53,948 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $9,984 |
| Derivatives | $116 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,269 |
| Total interest expense | $194 |
| Net interest income | $6,075 |
| Provision for loan and lease losses | $173 |
| Total noninterest income | $7,310 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $55 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $7,255 |
| Total noninterest expense | $8,493 |
| Salaries and employee benefits | $2,938 |
| Premises and equipment expense | $909 |
| Additional noninterest expense | $4,646 |
| Pre-tax net operating income | $4,719 |
| Securities gains (losses) | $119 |
| Applicable income taxes | $236 |
| Income before extraordinary items | $4,602 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,602 |
| Net charge-offs | $0 |
| Cash dividends | $4,602 |
| Sale, conversion, retirement of capital stock, net | $25 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 3.20% |
| Cost of funding earning assets | 0.10% |
| Net interest margin | 3.10% |
| Noninterest income to earning assets | 3.73% |
| Noninterest expense to earning assets | 4.33% |
| Net operating income to assets | 2.25% |
| Return on assets (ROA) | 2.31% |
| Pretax return on assets | 2.43% |
| Return on equity (ROE) | 8.49% |
| Retained earnings to average equity (YTD only) | 8.49% |
| Net charge-offs to loans | 0.04% |
| Credit loss provision to net charge-offs | 692.00% |
| Efficiency ratio | 195.68% |
| Assets per employee | $63,452 |
| Cash dividends to net income (YTD only) | 5.80% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.35% |
| Noncurrent assets plus other real estate owned to assets | 13100.00% |
| Noncurrent loans to loans | 0.00% |
| Net loans and leases to deposits | 0.01% |
| Net loans and leases to core deposits | 40.95% |
| Equity capital to assets | 40.95% |
| Core capital (leverage) ratio | 25.55% |
| Tier 1 risk-based capital ratio | 14.08% |
| Total risk-based capital ratio | 74.38% |
| Memoranda | |
| Average assets | $76 |
| Average earning assets | $199,424 |
| Average equity | $54,180 |
| Average loans | $196,026 |
| Bank Assets Sold and Securitized (December 31, 2003) (Dollar figures in thousands) | |
| Principal balance with servicing or other recourse retained | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $173,846 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| 3 Delaware Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 56851 | Applied Bank | 601 Delaware Avenue, Wilmington, DE 19801 | July 01, 1996 | Full Service Brick and Mortar |  |
| 1 | 478786 | Glasgow Branch | 660 Plaza Dr., Newark, DE 19702 | May 31, 2007 | Full Service Retail |  |
| 2 | 527458 | Rehoboth Beach | 37012 Country Club Road, Rehoboth Beach, DE 19971 | November 28, 2011 | Full Service Brick and Mortar | |
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