FDIC Certificate #: 35462 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Bay Bank, FSB (#59004) Federal Reserve ID: 2887661 Date Established: May 12, 2000 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Interstate: No) FDIC's unique #: 80243 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: May 12, 2000 Last Structure Change Effective Date: July 09, 2010 Last Structure Change Process Date: July 13, 2010 Last Data Update: July 13, 2010 Data Source Date: April 05, 2012
Location
Address: 2328 West Joppa Road, Baltimore, MD 21203 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 Summary
Total assets: $217.7 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
42Total employees (full-time equivalent)
$290,313Total assets
$71,664Cash and due from depository institutions
$69,174Interest-bearing balances
$21,129Securities
$432Federal funds sold & reverse repurchase agreements
$184,784Net loans & leases
$9,760Loan loss allowance
$0Trading account assets
$759Bank premises and fixed assets
$2,731Other real estate owned
$0Goodwill and other intangibles
$5,493Life insurance assets
$8,814All other assets
$290,313Total liabilities and capital
$282,848Total liabilities
$281,672Total deposits
$228,470Interest-bearing deposits
$281,672Deposits held in domestic offices
90.13%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,176All other liabilities
$7,465Total equity capital
$7,465Total bank equity capital
$7,465Perpetual preferred stock
$0Common stock
$11,816Surplus
$11,816Undivided profits
Memoranda
$-16,167Noncurrent loans and leases
$57,492Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$20,428Earning assets
$0Long-term assets (5+ years)
$667Average Assets, year-to-date
$275,519Average Assets, quarterly
$26,695Volatile liabilities
$294,535Insider loans
$293,851FHLB advances
$143,481Loans and leases held for sale
$13,948Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$415Total risk weighted assets
$57,492Total unused commitments
$1,797Restructured Loans and leases
$2,658Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$12,043Total interest income
$5,644Total interest expense
$6,399Net interest income
$10,695Provision for loan and lease losses
$867Total noninterest income
$0Fiduciary activities
$318Service charges on deposit accounts
$0Trading account gains & fees
$549Additional noninterest income
$10,165Total noninterest expense
$3,513Salaries and employee benefits
$949Premises and equipment expense
$5,703Additional noninterest expense
-$13,594Pre-tax net operating income
$0Securities gains (losses)
$1,857Applicable income taxes
-$15,451Income before extraordinary items
$0Extraordinary gains - net
-$15,451Net income attributable to bank
$0Net charge-offs
-$15,451Cash dividends
$6,610Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.47%Yield on earning assets
2.09%Cost of funding earning assets
2.37%Net interest margin
0.32%Noninterest income to earning assets
3.77%Noninterest expense to earning assets
-5.25%Net operating income to assets
-5.25%Return on assets (ROA)
-4.62%Pretax return on assets
-84.22%Return on equity (ROE)
-84.22%Retained earnings to average equity (YTD only)
2.96%Net charge-offs to loans
161.80%Credit loss provision to net charge-offs
-0.44%Efficiency ratio
139,898Assets per employee
6.91%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.02%Loss allowance to noncurrent loans
47.78%Noncurrent assets plus other real estate owned to assets
7.98%Noncurrent loans to loans
10.50%Net loans and leases to deposits
65.60%Net loans and leases to core deposits
133.72%Equity capital to assets
2.57%Core capital (leverage) ratio
2.47%Tier 1 risk-based capital ratio
3.61%Total risk-based capital ratio
Memoranda
$5Average assets
$294,535Average earning assets
$18,347Average equity
$269,502Average loans
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