Discover Bank in Greenwood, Delaware (DE)



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Discover Bank
GeneralFDIC Certificate #: 5649
Status: Active
Federal Reserve ID: 30810
Bank Holding Company (Regulatory Top Holder): Discover Financial Services (RSSDID: 3846375, Location: Riverwoods, IL)
Date Established: August 30, 1911
WWW: http://www.discovercard.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 3844
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Credit Card Institutions: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: Yes
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Credit-Card 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
LocationAddress: 502 E. Market Street, Greenwood, DE 19950
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
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $67,778.5 mil
Equity capital: $6,948.3 mil
Deposits held in domestic offices: $39,601.6 mil
Return on assets (ROA): 3.33% ($2,257.0 mil)
Quarterly return on assets: 3.31% ($2,243.5 mil)
Return on Equity (ROE): 32.63% ($2,267.1 mil)
Quarterly return on equity: 32.34% ($2,247.0 mil)
Net income: $2,154.0 mil
Quarterly Net income: $557.3 mil
Pretax return on assets: 5.24% ($3,551,594.7 mil)
Quarterly Pretax return on assets: 5.10% ($3,456,704.7 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)7,985
Total assets$67,778,524
Cash and due from depository institutions$2,224,417
Interest-bearing balances$1,599,829
Securities$6,658,866
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$56,513,611
Loan loss allowance $2,245,002
Trading account assets$0
Bank premises and fixed assets$295,050
Other real estate owned$0
Goodwill and other intangibles$9,513
All other assets$2,077,067
Life insurance assets$67,778,524
Total liabilities and capital$60,830,226
Total liabilities$39,601,637
Total deposits$39,469,669
Interest-bearing deposits$39,601,637
Deposits held in domestic offices$96
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$17,653,302
Other borrowed funds $1,195,705
Subordinated debt $2,379,582
All other liabilities $6,948,298
Total equity capital$6,948,298
Total bank equity capital$6,948,298
Perpetual preferred stock$0
Common stock$35
Surplus$3,972,737
Undivided profits $2,975,526
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $704,956
Income earned, not collected on loans $776,880
Earning assets $24,161
Long-term assets (5+ years) $442,922
Average Assets, year-to-date $64,772,306
Average Assets, quarterly $1,099,886
Volatile liabilities $64,652,617
Insider loans $67,275,056
FHLB advances $59,946,089
Loans and leases held for sale $67,460,364
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,872,369
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $161,554,786
Derivatives$720
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,659,097
Total interest expense $1,356,073
Net interest income $5,303,024
Provision for loan and lease losses $978,716
Total noninterest income $1,377,026
Fiduciary activities $0
Service charges on deposit accounts $1,940
Trading account gains & fees $0
Additional noninterest income $1,375,086
Total noninterest expense $2,312,039
Salaries and employee benefits $510,197
Premises and equipment expense $36,817
Additional noninterest expense $1,765,025
Pre-tax net operating income $3,389,295
Securities gains (losses) $142
Applicable income taxes $1,235,480
Income before extraordinary items $2,153,957
Extraordinary gains - net $0
Net income attributable to bank $2,153,957
Net charge-offs $0
Cash dividends $2,153,957
Sale, conversion, retirement of capital stock, net $2,011,738
Net operating income $1,375,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets10.77%
Cost of funding earning assets 2.19%
Net interest margin 8.58%
Noninterest income to earning assets 2.23%
Noninterest expense to earning assets 3.74%
Net operating income to assets 3.33%
Return on assets (ROA) 3.33%
Pretax return on assets 5.24%
Return on equity (ROE) 32.63%
Retained earnings to average equity (YTD only) 11.80%
Net charge-offs to loans 3.69%
Credit loss provision to net charge-offs 48.65%
Efficiency ratio2.17%
Assets per employee$34,585
Cash dividends to net income (YTD only)8.49%
Condition Ratios (%)
Loss allowance to loans 63.84%
Loss allowance to noncurrent loans 3.82%
Noncurrent assets plus other real estate owned to assets 288.98%
Noncurrent loans to loans 1.15%
Net loans and leases to deposits1.32%
Net loans and leases to core deposits 142.71%
Equity capital to assets 251.29%
Core capital (leverage) ratio 10.25%
Tier 1 risk-based capital ratio 10.19%
Total risk-based capital ratio 11.46%
Memoranda
Average assets$15
Average earning assets$64,652,617
Average equity $6,600,522
Average loans $61,820,965
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Bank Assets Sold and Securitized (December 31, 2008)
(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$23,359,744
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$0
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2 Delaware Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03844Discover Bank502 E. Market Street, Greenwood, DE 19950August 30, 1911Full Service Brick and Mortar
5207948New Castle Administrative Office12 Read's Way, New Castle, DE 19720June 04, 1996Limited Service Administrative
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