St. Michaels Bank in St. Michaels, Maryland (MD)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 28, 2004

St. Michaels Bank in St. Michaels, Maryland (MD)
Show street view No street view available for this location

St. Michaels Bank - Overview

General
FDIC Certificate #: 1575
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Eastern Shore Bank (#5877)
Federal Reserve ID: 280624
Date Established: Febuary 03, 1890
WWW: http://www.stmichaelsbankmd.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Interstate: No)
FDIC's unique #: 1032
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 28, 2004
Last Structure Change Process Date: August 24, 2004
Last Data Update: August 24, 2004
Data Source Date: April 05, 2012
Location
Address: 213 Talbot Street, St. Michaels, MD 21663
County: Talbot
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
Core Based Statistical Area (CBSA): Easton, MD (#20660)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $261.8 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, 2003)

Dollar figures in thousands
38Total employees (full-time equivalent)
$245,002Total assets
$5,300Cash and due from depository institutions
$26Interest-bearing balances
$15,367Securities
$360Federal funds sold & reverse repurchase agreements
$217,409Net loans & leases
$3,950Loan loss allowance
$0Trading account assets
$929Bank premises and fixed assets
$0Other real estate owned
$171Goodwill and other intangibles
$0Life insurance assets
$5,466All other assets
$245,002Total liabilities and capital
$224,227Total liabilities
$167,859Total deposits
$122,302Interest-bearing deposits
$167,859Deposits held in domestic offices
0.00%% insured (estimated)
$46,296Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$9,200Subordinated debt
$872All other liabilities
$20,775Total equity capital
$20,775Total bank equity capital
$20,775Perpetual preferred stock
$0Common stock
$241Surplus
$5,333Undivided profits
Memoranda
$15,201Noncurrent loans and leases
$59,541Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,002Earning assets
$0Long-term assets (5+ years)
$965Average Assets, year-to-date
$233,162Average Assets, quarterly
$844Volatile liabilities
$225,057Insider loans
$237,366FHLB advances
$68,908Loans and leases held for sale
$5,390Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$59,541Total unused commitments
$0Restructured Loans and leases
$11,726Derivatives

Income and Expense (December 31, 2003)

Dollar figures in thousands
$13,292Total interest income
$2,235Total interest expense
$11,057Net interest income
-$225Provision for loan and lease losses
$1,583Total noninterest income
$0Fiduciary activities
$800Service charges on deposit accounts
$0Trading account gains & fees
$783Additional noninterest income
$4,687Total noninterest expense
$2,397Salaries and employee benefits
$597Premises and equipment expense
$1,693Additional noninterest expense
$8,178Pre-tax net operating income
$0Securities gains (losses)
$3,114Applicable income taxes
$5,064Income before extraordinary items
$0Extraordinary gains - net
$5,064Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$464Sale, conversion, retirement of capital stock, net
$5,668Net operating income

Performance and Condition Ratios (December 31, 2003)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.22%Yield on earning assets
1.05%Cost of funding earning assets
5.18%Net interest margin
0.74%Noninterest income to earning assets
2.19%Noninterest expense to earning assets
2.25%Net operating income to assets
2.25%Return on assets (ROA)
3.63%Pretax return on assets
23.81%Return on equity (ROE)
-2.84%Retained earnings to average equity (YTD only)
0.23%Net charge-offs to loans
-48.49%Credit loss provision to net charge-offs
17.14%Efficiency ratio
37,081Assets per employee
6.45%Cash dividends to net income (YTD only)
Condition Ratios (%)
111.93%Loss allowance to loans
1.78%Loss allowance to noncurrent loans
394.21%Noncurrent assets plus other real estate owned to assets
0.41%Noncurrent loans to loans
0.45%Net loans and leases to deposits
129.52%Net loans and leases to core deposits
149.68%Equity capital to assets
8.48%Core capital (leverage) ratio
8.73%Tier 1 risk-based capital ratio
10.23%Total risk-based capital ratio
Memoranda
$16Average assets
$225,057Average earning assets
$21,268Average equity
$213,568Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with St. Michaels Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.