Bank of Ocean City in Ocean City, Maryland (MD)
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank of Ocean City - Overview

  • General
  • FDIC Certificate #: 5867
    Status: Active
    Federal Reserve ID: 147923
    Date Established: January 01, 1916
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 4008
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 10005 Golf Course Road, Ocean City, MD 21842
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    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
  • History of Changes
  • Corrections
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $184.1 mil
    Equity capital: $21.8 mil
    Deposits held in domestic offices: $160.9 mil
    Return on assets (ROA): 0.85% ($1.6 mil)
    Quarterly return on assets: 0.68% ($1.3 mil)
    Return on Equity (ROE): 6.83% ($1.5 mil)
    Quarterly return on equity: 5.83% ($1.3 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.38% ($2,540.8 mil)
    Quarterly Pretax return on assets: 1.06% ($1,951.6 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, 2011)

  • Dollar figures in thousands
  • 51Total employees (full-time equivalent)
  • $184,116Total assets
  • $27,987Cash and due from depository institutions
  • $24,033Interest-bearing balances
  • $27,272Securities
  • $6,469Federal funds sold & reverse repurchase agreements
  • $116,485Net loans & leases
  • $1,390Loan loss allowance
  • $0Trading account assets
  • $4,028Bank premises and fixed assets
  • $20Other real estate owned
  • $0Goodwill and other intangibles
  • $184,116Life insurance assets
  • $1,855All other assets
  • $162,300Total liabilities and capital
  • $160,940Total liabilities
  • $117,429Total deposits
  • $160,940Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,360Subordinated debt
  • $21,816All other liabilities
  • $21,816Total equity capital
  • $21,816Total bank equity capital
  • $0Perpetual preferred stock
  • $576Common stock
  • $10,944Surplus
  • $10,296Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $179Income earned, not collected on loans
  • $0Earning assets
  • $472Long-term assets (5+ years)
  • $174,259Average Assets, year-to-date
  • $8,114Average Assets, quarterly
  • $171,605Volatile liabilities
  • $185,986Insider loans
  • $119,379FHLB advances
  • $188,151Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $21,437Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,968Restructured Loans and leases
  • $10,236Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,902Total interest income
  • $1,097Total interest expense
  • $6,805Net interest income
  • $6Provision for loan and lease losses
  • $850Total noninterest income
  • $0Fiduciary activities
  • $701Service charges on deposit accounts
  • $0Trading account gains & fees
  • $149Additional noninterest income
  • $5,286Total noninterest expense
  • $2,923Salaries and employee benefits
  • $820Premises and equipment expense
  • $1,543Additional noninterest expense
  • $2,363Pre-tax net operating income
  • $0Securities gains (losses)
  • $898Applicable income taxes
  • $1,465Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,465Net income attributable to bank
  • $0Net charge-offs
  • $1,465Cash dividends
  • -$83Sale, conversion, retirement of capital stock, net
  • $507Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.94%Yield on earning assets
  • 0.69%Cost of funding earning assets
  • 4.26%Net interest margin
  • 0.53%Noninterest income to earning assets
  • 3.31%Noninterest expense to earning assets
  • 0.85%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 1.38%Pretax return on assets
  • 6.83%Return on equity (ROE)
  • 4.46%Retained earnings to average equity (YTD only)
  • -0.07%Net charge-offs to loans
  • -7.23%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 69,053Assets per employee
  • 3.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 34.61%Loss allowance to loans
  • 1.18%Loss allowance to noncurrent loans
  • 776.54%Noncurrent assets plus other real estate owned to assets
  • 0.11%Noncurrent loans to loans
  • 0.15%Net loans and leases to deposits
  • 72.38%Net loans and leases to core deposits
  • 84.02%Equity capital to assets
  • 11.85%Core capital (leverage) ratio
  • 11.39%Tier 1 risk-based capital ratio
  • 17.96%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $171,605Average earning assets
  • $21,460Average equity
  • $159,816Average loans

List of branches

  • 6 Maryland Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04008Bank Of Ocean City10005 Golf Course Road, Ocean City, MD 21842January 01, 1916Full Service Brick and Mortar
    120829059th Street Branch59th Street And Beach Highway, Ocean City, MD 21842May 15, 1972Full Service Brick and Mortar
    2208291Dorchester Street Branch217 South Baltimore Avenue, Ocean City, MD 21842May 17, 1976Full Service Brick and Mortar
    3208292Ocean City Branch12109 Coastal Highway, Ocean City, MD 21842November 01, 1990Full Service Brick and Mortar
    4208293Ocean Pines Branch11001 Nicholas Lane, Berlin, MD 21811April 21, 1997Full Service Brick and Mortar
    5460999Williams Street Branch627 Williams Street, Berlin, MD 21811March 07, 2007Full Service Brick and Mortar

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