County Bank in Rehoboth Beach, Delaware (DE)

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County Bank
GeneralFDIC Certificate #: 33009
Status: Active
Federal Reserve ID: 1459735
Bank Holding Company (Regulatory Top Holder): Cb Financial Corporation (RSSDID: 3246425, Location: Rehoboth Beach, DE)
Date Established: July 09, 1990
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 9 (Domestic: 9, Interstate: No)
OTS Docket #: 12668
FDIC's unique #: 46190
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: July 09, 1990
Last Structure Change Effective Date: Febuary 23, 2012
Last Structure Change Process Date: Febuary 23, 2012
Last Data Update: Febuary 23, 2012
Data Source Date: April 05, 2012
LocationAddress: 19927 Shuttle Road, Rehoboth Beach, DE 19971
County: Sussex
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
Core Based Statistical Area (CBSA): Seaford, DE (#42580)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $333.1 mil
Equity capital: $29.5 mil
Deposits held in domestic offices: $294.9 mil
Return on assets (ROA): -1.73% (-$5.8 mil)
Quarterly return on assets: -6.53% (-$21.7 mil)
Return on Equity (ROE): -18.26% (-$5.5 mil)
Quarterly return on equity: -69.02% (-$20.7 mil)
Net income: -$6.2 mil
Quarterly Net income: -$5.6 mil
Pretax return on assets: -1.88% (-$6,263.1 mil)
Quarterly Pretax return on assets: -6.54% (-$21,787.6 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)
Total employees (full-time equivalent)93
Total assets$333,144
Cash and due from depository institutions$13,023
Interest-bearing balances$792
Federal funds sold & reverse repurchase agreements$4,740
Net loans & leases$265,982
Loan loss allowance $6,752
Trading account assets$0
Bank premises and fixed assets$5,801
Other real estate owned$4,535
Goodwill and other intangibles$0
All other assets$22,633
Life insurance assets$333,144
Total liabilities and capital$303,637
Total liabilities$294,948
Total deposits$259,467
Interest-bearing deposits$294,948
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $8,689
All other liabilities $29,507
Total equity capital$29,507
Total bank equity capital$29,507
Perpetual preferred stock$0
Common stock$2,366
Undivided profits $18,963
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 $12,843
Earning assets $0
Long-term assets (5+ years) $1,292
Average Assets, year-to-date $287,944
Average Assets, quarterly $65,339
Volatile liabilities $358,347
Insider loans $341,231
FHLB advances $282,831
Loans and leases held for sale $340,503
Unused loan commitments $12,804
Tier 1 (core) risk-based capital $10,893
Tier 2 risk-based capital $25,883
Total risk weighted assets $0
Total unused commitments $1,911
Restructured Loans and leases $14,000
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,781
Total interest expense $2,465
Net interest income $13,316
Provision for loan and lease losses $9,462
Total noninterest income $1,870
Fiduciary activities $0
Service charges on deposit accounts $784
Trading account gains & fees $0
Additional noninterest income $1,086
Total noninterest expense $12,472
Salaries and employee benefits $6,580
Premises and equipment expense $1,150
Additional noninterest expense $4,742
Pre-tax net operating income -$6,748
Securities gains (losses) $0
Applicable income taxes -$543
Income before extraordinary items -$6,205
Extraordinary gains - net $0
Net income attributable to bank -$6,205
Net charge-offs $0
Cash dividends -$6,205
Sale, conversion, retirement of capital stock, net $8,118
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.04%
Cost of funding earning assets 0.79%
Net interest margin 4.25%
Noninterest income to earning assets 0.60%
Noninterest expense to earning assets 3.98%
Net operating income to assets -1.73%
Return on assets (ROA) -1.73%
Pretax return on assets -1.88%
Return on equity (ROE) -18.26%
Retained earnings to average equity (YTD only) -18.26%
Net charge-offs to loans 2.78%
Credit loss provision to net charge-offs 116.56%
Efficiency ratio0.33%
Assets per employee$82,128
Cash dividends to net income (YTD only)3.58%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.48%
Noncurrent assets plus other real estate owned to assets 52.57%
Noncurrent loans to loans 5.22%
Net loans and leases to deposits4.71%
Net loans and leases to core deposits 90.18%
Equity capital to assets 92.65%
Core capital (leverage) ratio 8.86%
Tier 1 risk-based capital ratio 7.60%
Total risk-based capital ratio 9.15%
Average assets$10
Average earning assets$358,347
Average equity $33,989
Average loans $313,089
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9 Delaware Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
046190County Bank19927 Shuttle Road, Rehoboth Beach, DE 19971July 09, 1990Full Service Brick and Mortar
1289163Long Neck Branch25933 School Lane, Millsboro, DE 19966July 15, 1991Full Service Brick and Mortar
2289164Milford Branch100 E Masten Circle, Milford, DE 19963July 05, 1994Full Service Brick and Mortar
3289165Seaford Branch632 West Stein Highway, Seaford, DE 19973March 03, 1997Full Service Brick and Mortar
4289166Georgetown Branch13 North Bedford Street, Georgetown, DE 19947September 24, 1999Full Service Brick and Mortar
5357115Millville Branch10 Old Mill Road, Millville, DE 19967July 23, 1999Full Service Brick and Mortar
6357116Laurel Branch1122 South Central Avenue, Laurel, DE 19956January 25, 2000Full Service Brick and Mortar
7365527Lewes Branch1609 Savannah Road, Lewes, DE 19958September 18, 2002Full Service Brick and Mortar
8433415Milton Branch140 Broadhill Road, Milton, DE 19968December 09, 2004Full Service Brick and Mortar
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