Jefferson Security Bank in Shepherdstown, West Virginia (WV), MD

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Jefferson Security Bank
GeneralFDIC Certificate #: 9997
Status: Active
Federal Reserve ID: 786733
Date Established: May 19, 1869
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: Yes)
OTS Docket #: 11694
FDIC's unique #: 6390
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: Washington And Princess Streets, Shepherdstown, WV 25443
County: Jefferson
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
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: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $274.7 mil
Equity capital: $19.6 mil
Deposits held in domestic offices: $251.5 mil
Return on assets (ROA): 0.29% ($0.8 mil)
Quarterly return on assets: 0.33% ($0.9 mil)
Return on Equity (ROE): 3.92% ($0.8 mil)
Quarterly return on equity: 4.44% ($0.9 mil)
Net income: $0.8 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.33% ($906.6 mil)
Quarterly Pretax return on assets: 0.36% ($989.0 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)83
Total assets$274,730
Cash and due from depository institutions$11,150
Interest-bearing balances$6,640
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$136,033
Loan loss allowance $1,849
Trading account assets$0
Bank premises and fixed assets$6,963
Other real estate owned$1,944
Goodwill and other intangibles$0
All other assets$9,978
Life insurance assets$274,730
Total liabilities and capital$255,142
Total liabilities$251,509
Total deposits$236,985
Interest-bearing deposits$251,509
Deposits held in domestic offices$72
% insured (estimated)517.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $3,116
All other liabilities $19,588
Total equity capital$19,588
Total bank equity capital$19,588
Perpetual preferred stock$0
Common stock$2,884
Undivided profits $13,820
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,093
Earning assets $0
Long-term assets (5+ years) $840
Average Assets, year-to-date $251,335
Average Assets, quarterly $72,773
Volatile liabilities $271,415
Insider loans $276,471
FHLB advances $160,178
Loans and leases held for sale $277,036
Unused loan commitments $5,064
Tier 1 (core) risk-based capital $3,977
Tier 2 risk-based capital $21,420
Total risk weighted assets $0
Total unused commitments $1,087
Restructured Loans and leases $21,143
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,419
Total interest expense $2,154
Net interest income $7,265
Provision for loan and lease losses $2,238
Total noninterest income $2,076
Fiduciary activities $0
Service charges on deposit accounts $736
Trading account gains & fees $0
Additional noninterest income $1,340
Total noninterest expense $7,906
Salaries and employee benefits $4,039
Premises and equipment expense $986
Additional noninterest expense $2,881
Pre-tax net operating income -$803
Securities gains (losses) $1,693
Applicable income taxes $105
Income before extraordinary items $785
Extraordinary gains - net $0
Net income attributable to bank $785
Net charge-offs $0
Cash dividends $785
Sale, conversion, retirement of capital stock, net $2,900
Net operating income $288
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.80%
Cost of funding earning assets 0.87%
Net interest margin 2.93%
Noninterest income to earning assets 0.84%
Noninterest expense to earning assets 3.19%
Net operating income to assets -0.26%
Return on assets (ROA) 0.29%
Pretax return on assets 0.33%
Return on equity (ROE) 3.92%
Retained earnings to average equity (YTD only) 2.48%
Net charge-offs to loans 2.05%
Credit loss provision to net charge-offs 77.17%
Efficiency ratio0.49%
Assets per employee$84,638
Cash dividends to net income (YTD only)3.31%
Condition Ratios (%)
Loss allowance to loans 36.69%
Loss allowance to noncurrent loans 1.34%
Noncurrent assets plus other real estate owned to assets 88.34%
Noncurrent loans to loans 1.47%
Net loans and leases to deposits1.52%
Net loans and leases to core deposits 54.09%
Equity capital to assets 58.38%
Core capital (leverage) ratio 7.13%
Tier 1 risk-based capital ratio 7.73%
Total risk-based capital ratio 13.37%
Average assets$15
Average earning assets$271,415
Average equity $20,030
Average loans $248,137
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1 Maryland Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
6465755Sharpsburg Office Branch103 West Main Street, Sharpsburg, MD 21782September 14, 2006Full Service Brick and Mortar
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5 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06390Jefferson Security BankWashington And Princess Streets, Shepherdstown, WV 25443May 19, 1869Full Service Brick and Mortar
2221672Charles Town BranchRoute 340 And Jefferson Avenue, Charles Town, WV 25414July 08, 1986Full Service Brick and Mortar
3221673Edwin Miller Boulevard Branch1487 Edwin Miller Boulevard, Martinsburg, WV 25402March 31, 1997Full Service Brick and Mortar
4358767South Berkeley Branch277 Mineral Drive, Inwood, WV 25428August 28, 2000Full Service Brick and Mortar
5453822Barron Office Branch7994 Martinsburg Pike, Shepherdstown, WV 25443June 15, 2006Full Service Brick and Mortar
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