The Peoples Bank of Elkton in Elkton, Maryland (MD)



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The Peoples Bank of Elkton
GeneralFDIC Certificate #: 9700
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Columbia Bank (#27244)
Federal Reserve ID: 613222
Date Established: January 01, 1923
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 10843
FDIC's unique #: 6206
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: August 15, 2009
Last Structure Change Process Date: September 28, 2009
Last Data Update: September 28, 2009
Data Source Date: April 05, 2012
LocationAddress: 130 North Street, Elkton, MD 21921
County: Cecil
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): Wilmington-Newark, DE-MD (#9160)
Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
Core Based Statistical Division: Wilmington, DE-MD-NJ (#48864)
Financial SummaryTotal assets: $148.3 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)22
Total assets$139,900
Cash and due from depository institutions$2,088
Interest-bearing balances$74
Securities$45,067
Federal funds sold & reverse repurchase agreements$10,517
Net loans & leases$78,513
Loan loss allowance $1,369
Trading account assets$0
Bank premises and fixed assets$2,425
Other real estate owned$0
Goodwill and other intangibles$105
All other assets$1,185
Life insurance assets$0
Total liabilities and capital$139,900
Total liabilities$131,260
Total deposits$123,035
Interest-bearing deposits$105,718
Deposits held in domestic offices$123,035
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $7,225
Subordinated debt $0
All other liabilities $1,000
Total equity capital$8,640
Total bank equity capital$8,640
Perpetual preferred stock$8,640
Common stock$0
Surplus$2,306
Undivided profits $2,306
Memoranda
Noncurrent loans and leases $4,028
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $16,864
Income earned, not collected on loans $0
Earning assets $699
Long-term assets (5+ years) $0
Average Assets, year-to-date $498
Average Assets, quarterly $134,171
Volatile liabilities $46,869
Insider loans $127,386
FHLB advances $134,235
Loans and leases held for sale $34,595
Unused loan commitments $1,785
Tier 1 (core) risk-based capital $2,000
Tier 2 risk-based capital $2,267
Total risk weighted assets $80
Total unused commitments $16,864
Restructured Loans and leases $0
Derivatives$1,017
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $7,121
Total interest expense $2,431
Net interest income $4,690
Provision for loan and lease losses $0
Total noninterest income $1,686
Fiduciary activities $0
Service charges on deposit accounts $939
Trading account gains & fees $0
Additional noninterest income $747
Total noninterest expense $3,187
Salaries and employee benefits $1,176
Premises and equipment expense $366
Additional noninterest expense $1,645
Pre-tax net operating income $3,189
Securities gains (losses) $89
Applicable income taxes $996
Income before extraordinary items $2,282
Extraordinary gains - net $0
Net income attributable to bank $2,282
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $64
Net operating income $1,665
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.90%
Cost of funding earning assets 2.01%
Net interest margin 3.89%
Noninterest income to earning assets 1.40%
Noninterest expense to earning assets 2.64%
Net operating income to assets 1.74%
Return on assets (ROA) 1.79%
Pretax return on assets 2.57%
Return on equity (ROE) 28.81%
Retained earnings to average equity (YTD only) 7.79%
Net charge-offs to loans 0.08%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio49.83%
Assets per employee$49,984
Cash dividends to net income (YTD only)6.36%
Condition Ratios (%)
Loss allowance to loans 72.96%
Loss allowance to noncurrent loans 1.71%
Noncurrent assets plus other real estate owned to assets 195.85%
Noncurrent loans to loans 0.50%
Net loans and leases to deposits0.88%
Net loans and leases to core deposits 63.81%
Equity capital to assets 83.82%
Core capital (leverage) ratio 6.18%
Tier 1 risk-based capital ratio 5.96%
Total risk-based capital ratio 9.77%
Memoranda
Average assets$11
Average earning assets$127,386
Average equity $7,922
Average loans $120,646
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