Westminster Union Bank in Westminster, Maryland (MD)



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Westminster Union Bank
GeneralFDIC Certificate #: 12884
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: PNC Bank, National Association (#6384)
Federal Reserve ID: 526229
Date Established: May 21, 1898
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 16 (Interstate: No)
FDIC's unique #: 8156
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 14, 2007
Last Structure Change Process Date: December 31, 2007
Last Data Update: December 31, 2007
Data Source Date: April 05, 2012
LocationAddress: 71 East Main Street, Westminster, MD 21157
County: Carroll
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: $929.6 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)156
Total assets$905,775
Cash and due from depository institutions$47,557
Interest-bearing balances$31,395
Securities$218,521
Federal funds sold & reverse repurchase agreements$23,703
Net loans & leases$519,910
Loan loss allowance $5,485
Trading account assets$0
Bank premises and fixed assets$6,383
Other real estate owned$0
Goodwill and other intangibles$73,243
All other assets$16,458
Life insurance assets$4,443
Total liabilities and capital$905,775
Total liabilities$762,355
Total deposits$697,338
Interest-bearing deposits$567,240
Deposits held in domestic offices$697,338
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $26,344
Trading liabilities$0
Other borrowed funds $10,000
Subordinated debt $24,700
All other liabilities $3,973
Total equity capital$143,420
Total bank equity capital$143,420
Perpetual preferred stock$143,420
Common stock$0
Surplus$700
Undivided profits $99,075
Memoranda
Noncurrent loans and leases $43,645
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $177,262
Income earned, not collected on loans $0
Earning assets $22
Long-term assets (5+ years) $0
Average Assets, year-to-date $3,298
Average Assets, quarterly $793,529
Volatile liabilities $354,461
Insider loans $895,100
FHLB advances $900,229
Loans and leases held for sale $89,863
Unused loan commitments $16,285
Tier 1 (core) risk-based capital $10,000
Tier 2 risk-based capital $142
Total risk weighted assets $0
Total unused commitments $177,262
Restructured Loans and leases $0
Derivatives$30,590
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $44,739
Total interest expense $15,521
Net interest income $29,218
Provision for loan and lease losses -$1,251
Total noninterest income $5,519
Fiduciary activities $0
Service charges on deposit accounts $3,018
Trading account gains & fees $0
Additional noninterest income $2,501
Total noninterest expense $17,785
Salaries and employee benefits $6,943
Premises and equipment expense $2,288
Additional noninterest expense $8,554
Pre-tax net operating income $18,203
Securities gains (losses) $0
Applicable income taxes $6,763
Income before extraordinary items $11,440
Extraordinary gains - net $0
Net income attributable to bank $11,440
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $67
Net operating income $7,589
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.73%
Cost of funding earning assets 1.99%
Net interest margin 3.74%
Noninterest income to earning assets 0.71%
Noninterest expense to earning assets 2.28%
Net operating income to assets 1.28%
Return on assets (ROA) 1.28%
Pretax return on assets 2.03%
Return on equity (ROE) 8.13%
Retained earnings to average equity (YTD only) 2.74%
Net charge-offs to loans 0.01%
Credit loss provision to net charge-offs -1867.16%
Efficiency ratio253.01%
Assets per employee$47,992
Cash dividends to net income (YTD only)5.81%
Condition Ratios (%)
Loss allowance to loans 66.34%
Loss allowance to noncurrent loans 1.04%
Noncurrent assets plus other real estate owned to assets 24931.82%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 74.56%
Equity capital to assets 82.03%
Core capital (leverage) ratio 15.83%
Tier 1 risk-based capital ratio 8.77%
Total risk-based capital ratio 13.77%
Memoranda
Average assets$20
Average earning assets$895,100
Average equity $140,709
Average loans $781,312
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