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
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Essex Savings Bank, F.S.B..
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: