Provident Bank of Maryland in Baltimore, Maryland (MD)



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Provident Bank of Maryland
GeneralFDIC Certificate #: 15951
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Manufacturers and Traders Trust Company (#588)
Federal Reserve ID: 437521
Date Established: April 01, 1886
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 140 (Interstate: No)
OTS Docket #: 9689
FDIC's unique #: 10182
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: June 02, 1943
Last Structure Change Effective Date: May 23, 2009
Last Structure Change Process Date: June 18, 2009
Last Data Update: June 18, 2009
Data Source Date: April 05, 2012
LocationAddress: 114 East Lexington Street, Baltimore, MD 21202
County: Baltimore City
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): Baltimore, MD (#720)
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): Baltimore-Towson, MD (#12580)
CBSA Metro Statistical Area: Baltimore-Towson, MD (#12580)
Financial SummaryTotal assets: $6,191.0 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)1,701
Total assets$6,299,164
Cash and due from depository institutions$118,422
Interest-bearing balances$0
Securities$1,337,519
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$4,284,768
Loan loss allowance $73,098
Trading account assets$0
Bank premises and fixed assets$62,923
Other real estate owned$39,175
Goodwill and other intangibles$5,690
All other assets$450,667
Life insurance assets$172,858
Total liabilities and capital$6,299,164
Total liabilities$5,771,191
Total deposits$4,753,810
Interest-bearing deposits$4,076,597
Deposits held in domestic offices$4,753,810
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $298,856
Trading liabilities$0
Other borrowed funds $595,000
Subordinated debt $47,898
All other liabilities $75,627
Total equity capital$527,973
Total bank equity capital$527,973
Perpetual preferred stock$527,973
Common stock$0
Surplus$30,000
Undivided profits $544,335
Memoranda
Noncurrent loans and leases $-46,362
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,587,727
Income earned, not collected on loans $0
Earning assets $98,822
Long-term assets (5+ years) $3,221
Average Assets, year-to-date $25,666
Average Assets, quarterly $5,622,287
Volatile liabilities $1,233,066
Insider loans $6,188,165
FHLB advances $6,226,623
Loans and leases held for sale $941,481
Unused loan commitments $67,235
Tier 1 (core) risk-based capital $595,000
Tier 2 risk-based capital $695,392
Total risk weighted assets $1,728
Total unused commitments $1,587,727
Restructured Loans and leases $0
Derivatives$123,799
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $325,906
Total interest expense $141,560
Net interest income $184,346
Provision for loan and lease losses $37,612
Total noninterest income $109,222
Fiduciary activities $0
Service charges on deposit accounts $82,777
Trading account gains & fees $0
Additional noninterest income $26,445
Total noninterest expense $212,252
Salaries and employee benefits $107,714
Premises and equipment expense $39,488
Additional noninterest expense $65,050
Pre-tax net operating income $43,704
Securities gains (losses) -$110,898
Applicable income taxes -$34,805
Income before extraordinary items -$32,389
Extraordinary gains - net $0
Net income attributable to bank -$32,389
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $19,783
Net operating income $23,940
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.88%
Cost of funding earning assets 2.55%
Net interest margin 3.33%
Noninterest income to earning assets 1.97%
Noninterest expense to earning assets 3.83%
Net operating income to assets 0.62%
Return on assets (ROA) -0.52%
Pretax return on assets -1.09%
Return on equity (ROE) -7.52%
Retained earnings to average equity (YTD only) -13.08%
Net charge-offs to loans 0.46%
Credit loss provision to net charge-offs 190.12%
Efficiency ratio4.11%
Assets per employee$71,870
Cash dividends to net income (YTD only)3.70%
Condition Ratios (%)
Loss allowance to loans -73.91%
Loss allowance to noncurrent loans 1.68%
Noncurrent assets plus other real estate owned to assets 73.97%
Noncurrent loans to loans 2.78%
Net loans and leases to deposits2.27%
Net loans and leases to core deposits 90.13%
Equity capital to assets 96.59%
Core capital (leverage) ratio 8.38%
Tier 1 risk-based capital ratio 9.40%
Total risk-based capital ratio 9.28%
Memoranda
Average assets$11
Average earning assets$6,188,165
Average equity $430,720
Average loans $5,544,120
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Bank Assets Sold and Securitized (December 31, 2002)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $159,099
Home equity lines$0
Credit cards receivables$0
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$0
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