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
    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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