First Shore Federal Savings and Loan Association in Salisbury, Maryland (MD), DE
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Shore Federal Savings and Loan Association in Salisbury, Maryland (MD), DE
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First Shore Federal Savings and Loan Association - Overview

  • General
  • FDIC Certificate #: 30680
    Status: Active
    Federal Reserve ID: 59370
    Date Established: December 18, 1953
    WWW: http://www.firstshorefederal.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 8 (Domestic: 8, Interstate: Yes)
    OTS Docket #: 5740
    FDIC's unique #: 43514
    Numeric code: 38
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: December 18, 1953
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 106 S. Division Street, Salisbury, MD 21801
    County: Wicomico
    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
    Combined Statistical Area (CSA): Salisbury-Ocean Pines, MD (#480)
    Core Based Statistical Area (CBSA): Salisbury, MD (#41540)
    CBSA Metro Statistical Area: Salisbury, MD (#41540)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $316.6 mil
    Equity capital: $35.8 mil
    Deposits held in domestic offices: $274.4 mil
    Return on assets (ROA): 0.57% ($1.8 mil)
    Quarterly return on assets: 0.33% ($1.0 mil)
    Return on Equity (ROE): 5.41% ($1.9 mil)
    Quarterly return on equity: 3.00% ($1.1 mil)
    Net income: $1.9 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.65% ($2,058.1 mil)
    Quarterly Pretax return on assets: -0.48% (-$1,519.8 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, 2011)

  • Dollar figures in thousands
  • 66Total employees (full-time equivalent)
  • $316,625Total assets
  • $20,481Cash and due from depository institutions
  • $19,231Interest-bearing balances
  • $28,032Securities
  • $254Federal funds sold & reverse repurchase agreements
  • $248,482Net loans & leases
  • $2,360Loan loss allowance
  • $0Trading account assets
  • $5,156Bank premises and fixed assets
  • $1,735Other real estate owned
  • $0Goodwill and other intangibles
  • $316,625Life insurance assets
  • $12,485All other assets
  • $280,808Total liabilities and capital
  • $274,431Total liabilities
  • $268,736Total deposits
  • $274,431Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,000Trading liabilities
  • $0Other borrowed funds
  • $377Subordinated debt
  • $35,817All other liabilities
  • $35,817Total equity capital
  • $35,817Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $35,817Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,356Income earned, not collected on loans
  • $0Earning assets
  • $938Long-term assets (5+ years)
  • $295,999Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $329,835Volatile liabilities
  • $322,585Insider loans
  • $204,900FHLB advances
  • $315,904Loans and leases held for sale
  • $6,164Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $35,375Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $20,712Restructured Loans and leases
  • $789Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,634Total interest income
  • $5,660Total interest expense
  • $9,974Net interest income
  • $560Provision for loan and lease losses
  • $142Total noninterest income
  • $0Fiduciary activities
  • $106Service charges on deposit accounts
  • $0Trading account gains & fees
  • $36Additional noninterest income
  • $7,381Total noninterest expense
  • $4,127Salaries and employee benefits
  • $1,234Premises and equipment expense
  • $2,020Additional noninterest expense
  • $2,175Pre-tax net operating income
  • -$42Securities gains (losses)
  • $245Applicable income taxes
  • $1,888Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,888Net income attributable to bank
  • $0Net charge-offs
  • $1,888Cash dividends
  • $271Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 1.83%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.05%Noninterest income to earning assets
  • 2.39%Noninterest expense to earning assets
  • 0.58%Net operating income to assets
  • 0.57%Return on assets (ROA)
  • 0.65%Pretax return on assets
  • 5.41%Return on equity (ROE)
  • 5.41%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 206.64%Credit loss provision to net charge-offs
  • 10.09%Efficiency ratio
  • 72,964Assets per employee
  • 4.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.94%Loss allowance to noncurrent loans
  • 100.17%Noncurrent assets plus other real estate owned to assets
  • 1.29%Noncurrent loans to loans
  • 0.94%Net loans and leases to deposits
  • 90.54%Net loans and leases to core deposits
  • 95.97%Equity capital to assets
  • 11.31%Core capital (leverage) ratio
  • 11.20%Tier 1 risk-based capital ratio
  • 17.26%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $329,835Average earning assets
  • $34,894Average equity
  • $308,462Average loans

List of branches

  • 1 Delaware Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    107461724Atlantic Avenue BranchRt 26 Atlantic Avenue, Ocean View, DE 19970January 01, 2003Full Service Brick and Mortar
  • 7 Maryland Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    043514First Shore Federal Savings And Loan106 S. Division Street, Salisbury, MD 21801December 18, 1953Full Service Brick and Mortar
    100281530Corner Of Mt Hermon Branch1116 Mt. Hermon Road, Salisbury, MD 21804December 18, 1953Full Service Brick and Mortar
    1012815311315 Market St Branch1315 Market Street, Pocomoke City, MD 21851December 18, 1953Full Service Brick and Mortar
    103281533North Main Street Branch310 Franklin Avenue, Berlin, MD 21811June 30, 1988Full Service Brick and Mortar
    104281534107 Green Street Branch107 Green Street, Snow Hill, MD 21863June 30, 1988Full Service Brick and Mortar
    105281535Ocean Pines Branch11029 Racetrack Road, Berlin, MD 21811December 09, 1996Full Service Brick and Mortar
    106363808Cedar Lane Branch101 West Cedar Lane, Fruitland, MD 21826August 13, 2001Full Service Brick and Mortar

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