Essex Savings Bank, F.S.B. in Norfolk, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 01, 2004

  • Essex Savings Bank, F.S.B. in Norfolk, Virginia (VA)
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Essex Savings Bank, F.S.B. - Overview

  • General
  • FDIC Certificate #: 32377
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Provident Bank of Maryland (#15951)
    Federal Reserve ID: 463472
    Date Established: May 15, 1979
    WWW: http://www.essexbancorp.com
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 8201
    FDIC's unique #: 45211
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: September 03, 1985
    Last Structure Change Effective Date: May 01, 2004
    Last Structure Change Process Date: May 24, 2004
    Last Data Update: May 24, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 9 Interstate Corp Cntr Bldg. 9, Ste 200, Norfolk, VA 23502
    County: Norfolk City
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $337.0 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, 2003)

  • Dollar figures in thousands
  • 142Total employees (full-time equivalent)
  • $336,883Total assets
  • $126,757Cash and due from depository institutions
  • $107,385Interest-bearing balances
  • $40,956Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $154,490Net loans & leases
  • $1,081Loan loss allowance
  • $0Trading account assets
  • $4,209Bank premises and fixed assets
  • $832Other real estate owned
  • $1,785Goodwill and other intangibles
  • $0Life insurance assets
  • $7,854All other assets
  • $336,883Total liabilities and capital
  • $309,899Total liabilities
  • $306,877Total deposits
  • $302,747Interest-bearing deposits
  • $306,877Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $3,022All other liabilities
  • $26,984Total equity capital
  • $26,984Total bank equity capital
  • $26,984Perpetual preferred stock
  • $0Common stock
  • $6Surplus
  • $38,577Undivided profits
  • Memoranda
  • $-11,599Noncurrent loans and leases
  • $3,695Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,930Earning assets
  • $0Long-term assets (5+ years)
  • $631Average Assets, year-to-date
  • $302,831Average Assets, quarterly
  • $0Volatile liabilities
  • $349,655Insider loans
  • $363,318FHLB advances
  • $40,104Loans and leases held for sale
  • $481Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $3,695Total unused commitments
  • $832Restructured Loans and leases
  • $1,081Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $14,519Total interest income
  • $6,009Total interest expense
  • $8,510Net interest income
  • $435Provision for loan and lease losses
  • $6,521Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6,521Additional noninterest income
  • $12,968Total noninterest expense
  • $7,413Salaries and employee benefits
  • $2,359Premises and equipment expense
  • $3,196Additional noninterest expense
  • $1,628Pre-tax net operating income
  • $1,270Securities gains (losses)
  • $1,203Applicable income taxes
  • $1,695Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,695Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $482Sale, conversion, retirement of capital stock, net
  • $422Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.67%Yield on earning assets
  • 1.93%Cost of funding earning assets
  • 2.74%Net interest margin
  • 2.10%Noninterest income to earning assets
  • 4.17%Noninterest expense to earning assets
  • 0.25%Net operating income to assets
  • 0.48%Return on assets (ROA)
  • 0.83%Pretax return on assets
  • 6.41%Return on equity (ROE)
  • 4.81%Retained earnings to average equity (YTD only)
  • 0.21%Net charge-offs to loans
  • 90.25%Credit loss provision to net charge-offs
  • 4.28%Efficiency ratio
  • 86,275Assets per employee
  • 2.37%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 24.90%Loss allowance to loans
  • 0.69%Loss allowance to noncurrent loans
  • 56.01%Noncurrent assets plus other real estate owned to assets
  • 0.82%Noncurrent loans to loans
  • 1.24%Net loans and leases to deposits
  • 50.34%Net loans and leases to core deposits
  • 57.91%Equity capital to assets
  • 8.01%Core capital (leverage) ratio
  • 7.34%Tier 1 risk-based capital ratio
  • 19.96%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $349,655Average earning assets
  • $26,447Average equity
  • $310,958Average loans

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