Farmers & Mechanics Bank in Frederick, Maryland (MD)



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Farmers & Mechanics Bank
GeneralFDIC Certificate #: 4842
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: PNC Bank, National Association (#6384)
Federal Reserve ID: 802129
Date Established: January 01, 1817
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 28 (Interstate: No)
OTS Docket #: 10671
FDIC's unique #: 3226
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 14, 2007
Last Structure Change Process Date: December 31, 2007
Last Data Update: December 31, 2007
Data Source Date: April 05, 2012
LocationAddress: Thomas Johnson Drive, Frederick, MD 21702
County: Frederick
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
Metropolitan Statistical Area (MSA): Washington, DC-MD-VA-WV (#8840)
Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
Core Based Statistical Division: Bethesda-Rockville-Frederick, MD (#13644)
Financial SummaryTotal assets: $2,023.8 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)401
Total assets$1,977,667
Cash and due from depository institutions$42,311
Interest-bearing balances$7,730
Securities$389,453
Federal funds sold & reverse repurchase agreements$20,004
Net loans & leases$1,164,549
Loan loss allowance $10,826
Trading account assets$0
Bank premises and fixed assets$14,575
Other real estate owned$139
Goodwill and other intangibles$283,196
All other assets$63,440
Life insurance assets$22,088
Total liabilities and capital$1,977,667
Total liabilities$1,533,114
Total deposits$1,335,042
Interest-bearing deposits$1,061,580
Deposits held in domestic offices$1,335,042
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $92,941
Trading liabilities$0
Other borrowed funds $32,141
Subordinated debt $48,900
All other liabilities $24,090
Total equity capital$444,553
Total bank equity capital$444,553
Perpetual preferred stock$444,553
Common stock$0
Surplus$4,001
Undivided profits $405,011
Memoranda
Noncurrent loans and leases $35,541
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $441,005
Income earned, not collected on loans $0
Earning assets $779
Long-term assets (5+ years) $0
Average Assets, year-to-date $7,307
Average Assets, quarterly $1,581,736
Volatile liabilities $415,809
Insider loans $1,981,156
FHLB advances $1,972,184
Loans and leases held for sale $235,077
Unused loan commitments $44,615
Tier 1 (core) risk-based capital $32,141
Tier 2 risk-based capital $410
Total risk weighted assets $0
Total unused commitments $441,005
Restructured Loans and leases $0
Derivatives$61,039
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $95,612
Total interest expense $31,421
Net interest income $64,191
Provision for loan and lease losses -$820
Total noninterest income $27,884
Fiduciary activities $0
Service charges on deposit accounts $5,820
Trading account gains & fees $0
Additional noninterest income $22,064
Total noninterest expense $56,816
Salaries and employee benefits $26,794
Premises and equipment expense $7,263
Additional noninterest expense $22,759
Pre-tax net operating income $36,079
Securities gains (losses) -$11
Applicable income taxes $12,250
Income before extraordinary items $23,818
Extraordinary gains - net $0
Net income attributable to bank $23,818
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $518
Net operating income $20,953
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.03%
Cost of funding earning assets 1.98%
Net interest margin 4.05%
Noninterest income to earning assets 1.76%
Noninterest expense to earning assets 3.58%
Net operating income to assets 1.20%
Return on assets (ROA) 1.20%
Pretax return on assets 1.82%
Return on equity (ROE) 5.39%
Retained earnings to average equity (YTD only) 0.65%
Net charge-offs to loans 0.04%
Credit loss provision to net charge-offs -158.30%
Efficiency ratio68.07%
Assets per employee$57,955
Cash dividends to net income (YTD only)4.93%
Condition Ratios (%)
Loss allowance to loans 87.97%
Loss allowance to noncurrent loans 0.92%
Noncurrent assets plus other real estate owned to assets 1389.73%
Noncurrent loans to loans 0.05%
Net loans and leases to deposits0.07%
Net loans and leases to core deposits 87.23%
Equity capital to assets 97.21%
Core capital (leverage) ratio 22.48%
Tier 1 risk-based capital ratio 10.05%
Total risk-based capital ratio 12.29%
Memoranda
Average assets$17
Average earning assets$1,981,156
Average equity $441,623
Average loans $1,586,156
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Total Fiduciary and Related Assets (December 31, 2002)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$257,362
Number of Accounts1
Personal trust and agency accounts$250,444
Employee benefit-defined contribution accounts$127,535
Employee benefit-defined benefit accounts$1,923
Other retirement accounts$0
Corporate trust and agency accounts$15,734
Investment management agency accounts$55
Other fiduciary accounts$103,242
Fiduciary accounts held in foreign offices$0
Non-managed Assets$1,955
Number of Accounts657
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$6,918
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$3,203
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