Hagerstown Trust Company in Hagerstown, Maryland (MD)

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Hagerstown Trust Company
GeneralFDIC Certificate #: 1899
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Columbia Bank (#27244)
Federal Reserve ID: 822529
Date Established: October 07, 1933
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Interstate: No)
OTS Docket #: 9988
FDIC's unique #: 1265
Numeric code: 21
Regulator: FDIC
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 12, 2009
Last Structure Change Process Date: September 28, 2009
Last Data Update: September 28, 2009
Data Source Date: April 05, 2012
LocationAddress: 83 West Washington Street, Hagerstown, MD 21740
County: Washington
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): Hagerstown, MD (#3180)
Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
Core Based Statistical Area (CBSA): Hagerstown-Martinsburg, MD-WV (#25180)
CBSA Metro Statistical Area: Hagerstown-Martinsburg, MD-WV (#25180)
Financial SummaryTotal assets: $563.4 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)100
Total assets$527,201
Cash and due from depository institutions$10,085
Interest-bearing balances$100
Federal funds sold & reverse repurchase agreements$54,477
Net loans & leases$341,395
Loan loss allowance $3,143
Trading account assets$0
Bank premises and fixed assets$4,284
Other real estate owned$289
Goodwill and other intangibles$188
All other assets$12,958
Life insurance assets$5,774
Total liabilities and capital$527,200
Total liabilities$491,817
Total deposits$423,049
Interest-bearing deposits$336,960
Deposits held in domestic offices$423,049
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $18,660
Trading liabilities$0
Other borrowed funds $43,157
Subordinated debt $0
All other liabilities $6,951
Total equity capital$35,383
Total bank equity capital$35,383
Perpetual preferred stock$35,383
Common stock$0
Undivided profits $11,305
Noncurrent loans and leases $21,316
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $69,328
Income earned, not collected on loans $0
Earning assets $3,759
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,803
Average Assets, quarterly $499,497
Volatile liabilities $101,771
Insider loans $505,007
FHLB advances $511,879
Loans and leases held for sale $85,669
Unused loan commitments $15,376
Tier 1 (core) risk-based capital $36,000
Tier 2 risk-based capital $17,654
Total risk weighted assets $1,777
Total unused commitments $69,328
Restructured Loans and leases $0
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $25,802
Total interest expense $9,886
Net interest income $15,916
Provision for loan and lease losses $0
Total noninterest income $6,269
Fiduciary activities $0
Service charges on deposit accounts $2,671
Trading account gains & fees $0
Additional noninterest income $3,598
Total noninterest expense $13,238
Salaries and employee benefits $4,983
Premises and equipment expense $1,343
Additional noninterest expense $6,912
Pre-tax net operating income $8,947
Securities gains (losses) $330
Applicable income taxes $2,314
Income before extraordinary items $6,963
Extraordinary gains - net $0
Net income attributable to bank $6,963
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $2,124
Net operating income $7,200
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.46%
Cost of funding earning assets 2.09%
Net interest margin 3.37%
Noninterest income to earning assets 1.33%
Noninterest expense to earning assets 2.80%
Net operating income to assets 1.33%
Return on assets (ROA) 1.38%
Pretax return on assets 1.84%
Return on equity (ROE) 20.25%
Retained earnings to average equity (YTD only) -0.69%
Net charge-offs to loans 0.62%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio4.21%
Assets per employee$59,671
Cash dividends to net income (YTD only)5.27%
Condition Ratios (%)
Loss allowance to loans 103.40%
Loss allowance to noncurrent loans 0.91%
Noncurrent assets plus other real estate owned to assets 83.61%
Noncurrent loans to loans 0.77%
Net loans and leases to deposits1.09%
Net loans and leases to core deposits 80.70%
Equity capital to assets 93.23%
Core capital (leverage) ratio 6.71%
Tier 1 risk-based capital ratio 6.74%
Total risk-based capital ratio 9.99%
Average assets$11
Average earning assets$505,007
Average equity $34,390
Average loans $472,385
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