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- Banks in Maryland (MD)
- Atlantic Bank
Atlantic Bank in Ocean City, Maryland (MD)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of October 11, 2003
- Atlantic Bank in Ocean City, Maryland (MD)
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Atlantic Bank - Overview
- General
- FDIC Certificate #: 21641
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company (#9846)
Federal Reserve ID: 82024
Date Established: June 24, 1974
WWW: http://www.firstvirginia.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 13 (Interstate: No)
FDIC's unique #: 14975
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: June 24, 1974
Last Structure Change Effective Date: October 11, 2003
Last Structure Change Process Date: October 20, 2003
Last Data Update: October 20, 2003
Data Source Date: April 05, 2012 - Location
- Address: 4604 Coastal Highway, Ocean City, MD 21842
County: Worcester
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: Atlanta
FDIC Field Office: Baltimore
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Combined Statistical Area (CSA): Salisbury-Ocean Pines, MD (#480)
Core Based Statistical Area (CBSA): Ocean Pines, MD (#36180)
CBSA Micro Statistical Area: Yes - Financial Summary
- Total assets: $294.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2002)
- Dollar figures in thousands
- 81Total employees (full-time equivalent)
- $229,266Total assets
- $6,241Cash and due from depository institutions
- $0Interest-bearing balances
- $66,957Securities
- $0Federal funds sold & reverse repurchase agreements
- $136,147Net loans & leases
- $1,528Loan loss allowance
- $0Trading account assets
- $5,959Bank premises and fixed assets
- $125Other real estate owned
- $9,844Goodwill and other intangibles
- $0Life insurance assets
- $3,993All other assets
- $229,266Total liabilities and capital
- $200,129Total liabilities
- $190,229Total deposits
- $176,106Interest-bearing deposits
- $190,229Deposits held in domestic offices
- 0.00%% insured (estimated)
- $6,093Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $2,700Other borrowed funds
- $0Subordinated debt
- $1,107All other liabilities
- $29,137Total equity capital
- $29,137Total bank equity capital
- $29,137Perpetual preferred stock
- $0Common stock
- $4,000Surplus
- $24,764Undivided profits
- Memoranda
- $373Noncurrent loans and leases
- $18,008Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $593Earning assets
- $0Long-term assets (5+ years)
- $693Average Assets, year-to-date
- $203,104Average Assets, quarterly
- $74,250Volatile liabilities
- $237,384Insider loans
- $240,840FHLB advances
- $21,454Loans and leases held for sale
- $1,469Unused loan commitments
- $0Tier 1 (core) risk-based capital
- $0Tier 2 risk-based capital
- $0Total risk weighted assets
- $18,008Total unused commitments
- $33Restructured Loans and leases
- $1,528Derivatives
Income and Expense (December 31, 2002)
- Dollar figures in thousands
- $13,733Total interest income
- $3,762Total interest expense
- $9,971Net interest income
- $4Provision for loan and lease losses
- $2,730Total noninterest income
- $0Fiduciary activities
- $1,868Service charges on deposit accounts
- $0Trading account gains & fees
- $862Additional noninterest income
- $9,987Total noninterest expense
- $3,116Salaries and employee benefits
- $1,069Premises and equipment expense
- $5,802Additional noninterest expense
- $2,710Pre-tax net operating income
- $0Securities gains (losses)
- $959Applicable income taxes
- $1,751Income before extraordinary items
- $0Extraordinary gains - net
- $1,751Net income attributable to bank
- $0Net charge-offs
- $0Cash dividends
- $105Sale, conversion, retirement of capital stock, net
- $1,800Net operating income
Performance and Condition Ratios (December 31, 2002)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 6.58%Yield on earning assets
- 1.80%Cost of funding earning assets
- 4.78%Net interest margin
- 1.31%Noninterest income to earning assets
- 4.79%Noninterest expense to earning assets
- 0.74%Net operating income to assets
- 0.74%Return on assets (ROA)
- 1.14%Pretax return on assets
- 5.93%Return on equity (ROE)
- -0.17%Retained earnings to average equity (YTD only)
- 0.07%Net charge-offs to loans
- 3.81%Credit loss provision to net charge-offs
- 25.85%Efficiency ratio
- 64,664Assets per employee
- 2.83%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 102.80%Loss allowance to loans
- 1.11%Loss allowance to noncurrent loans
- 257.67%Noncurrent assets plus other real estate owned to assets
- 0.31%Noncurrent loans to loans
- 0.43%Net loans and leases to deposits
- 71.57%Net loans and leases to core deposits
- 76.67%Equity capital to assets
- 12.71%Core capital (leverage) ratio
- 8.30%Tier 1 risk-based capital ratio
- 12.71%Total risk-based capital ratio
- Memoranda
- $14Average assets
- $237,384Average earning assets
- $29,537Average equity
- $208,649Average loans
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- Banks in Maryland (MD)
- Atlantic Bank
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