Community Bank of the Chesapeake (merged into Shore United Bank)
Community Bank of the Chesapeake reported total assets of $2.5 bn at Q2 2023, its last Call Report before it merged into Shore United Bank. The CET1 capital ratio at Community Bank of the Chesapeake was 13.12%, and the uninsured share of Community Bank of the Chesapeake was 20.31%. Source: FDIC Call Reports.
Key takeaways
- Since , Community Bank of the Chesapeake has taken over one institution; the latest was County First Bank on (FDIC Call Reports).
What sets Community Bank of the Chesapeake apart
How large is Community Bank of the Chesapeake?
The balance sheet of Community Bank of the Chesapeake at : assets $2.5 bn, deposits $2.1 bn, net loans $1.9 bn (loans equal to 87.12% of deposits). Securities make up 18.6% of total assets at Community Bank of the Chesapeake. Since , when Community Bank of the Chesapeake held $1.2 bn, its assets grew 109.6%. In the year to , deposits at Community Bank of the Chesapeake rose 2.4% while its total assets rose 6.0%. At , Community Bank of the Chesapeake employed 197 full-time equivalent staff across 12 offices, about $12.5 mn of assets per employee and $178.2 mn of deposits per office.
How much funding at Community Bank of the Chesapeake is uninsured?
At Community Bank of the Chesapeake, uninsured deposits (above the FDIC limit) made up 20.31% of domestic deposits at (-5.43 pp on a year earlier). In dollars, Community Bank of the Chesapeake estimated $434.3 mn of uninsured deposits.
Key facts, Q2 2023
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.1 bn | $2.1 bn (Q2 2022) | |
| Net loans and leases | $1.9 bn | $1.6 bn (Q2 2022) | |
| Loan-to-deposit ratio | 87.12% | 78.34% (Q2 2022) | |
| Tier 1 leverage ratio | 10.57% | 10.12% (Q2 2022) | |
| Total risk-based capital ratio | 14.31% | 14.49% (Q2 2022) | |
| Net interest margin | 3.68% | 3.18% (Q2 2022) | |
| Return on assets (ROA) | 1.45% | 1.26% (Q2 2022) | |
| Efficiency ratio | 46.51% | 44.92% (Q2 2022) | |
| Unrealized gain/loss on available-for-sale securities | Loss of $55.5 mn | Widened by $12.5 mn | |
| Noncurrent loans to total loans | 0.46% | 0.38% (Q2 2022) | |
| Net charge-offs to average loans | 0.05% | 0.05% (Q2 2022) |
US rank of Community Bank of the Chesapeake: 1 = highest unless marked 1 = lowest.
Balance sheet
Community Bank of the Chesapeake: assets, deposits and loans
- Total assets $2.5bn
- Deposits $2.1bn
- Net loans $1.9bn
Capital and securities
The CET1 ratio of Community Bank of the Chesapeake stood at 13.12% in , -0.13 pp year on year. Low and high at Community Bank of the Chesapeake since : 11.60% () to 13.64% (). Equity capital of Community Bank of the Chesapeake at : $231.9 mn, or 9.4% of total assets. Community Bank of the Chesapeake also reported a total capital ratio of 14.31% for , and a tier 1 leverage ratio of 10.57%.
The available-for-sale portfolio of Community Bank of the Chesapeake showed an unrealized loss of $55.5 mn at ; the loss widened by $12.5 mn over the year.
Community Bank of the Chesapeake: capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 11%
Community Bank of the Chesapeake: unrealized securities gains and losses
- Available for sale -$56mn
- Held to maturity $0
Profitability and loan quality
For the year to , Community Bank of the Chesapeake earned a return on equity of 15.62%; return on assets: 1.45%. Net interest margin at Community Bank of the Chesapeake: 3.68%, +0.50 pp in a year. Community Bank of the Chesapeake net income: $17.6 mn, up 19.5% year on year. The efficiency ratio of Community Bank of the Chesapeake was 46.51%: about 47 cents cost per revenue dollar, against 68 cents at the median peer.
At , noncurrent loans were 0.46% of total loans at Community Bank of the Chesapeake; net charge-offs: 0.05% of average loans. Gross loans and leases at Community Bank of the Chesapeake: $1.9 bn at , against $1.7 bn at .
Community Bank of the Chesapeake: profitability
- Return on equity 16%
- Net interest margin 3.7%
- Return on assets 1.4%
Peer group of Community Bank of the Chesapeake
The peer group of Community Bank of the Chesapeake is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Community Bank of the Chesapeake (state nonmember bank) and 0 have head offices in Maryland. Against them, Community Bank of the Chesapeake shows CET1 ratio 13.12% against a peer median of 13.07%, return on equity 15.62% against a peer median of 10.46% and uninsured deposit share 20.31% against a peer median of 26.30%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Southern Bancorp Bank | State member bank | AR | $2.5 bn | 18.49% | 7.07% | 33.68% | |
| Bravera Bank | State nonmember bank | ND | $2.5 bn | 11.21% | 11.61% | 19.60% | |
| Merchants Bank | National bank | MN | $2.5 bn | 13.07% | 10.70% | 22.69% | |
| Community Bank of the Chesapeake | State nonmember bank | MD | $2.5 bn | 13.12% | 15.62% | 20.31% | |
| Bank of New Hampshire | State member bank | NH | $2.5 bn | 12.32% | 8.45% | 17.41% | |
| Citizens & Northern Bank | State member bank | PA | $2.5 bn | 13.98% | 10.22% | 29.91% | |
| CB&S Bank, Inc. | State nonmember bank | AL | $2.5 bn | not reported | 23.20% | 31.19% | |
. FDIC Call Reports.
Last eight quarters
Two years at Community Bank of the Chesapeake, to : assets $2.3 bn to $2.5 bn, deposits $2.0 bn to $2.1 bn, equity $231.8 mn to $231.9 mn. Staff 196 to 197; offices 11 to 12.
| Metric | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.3 bn | $2.3 bn | $2.4 bn | $2.3 bn | $2.4 bn | $2.4 bn | $2.4 bn | $2.5 bn |
| Total deposits | $2.0 bn | $2.1 bn | $2.1 bn | $2.1 bn | $2.1 bn | $2.1 bn | $2.2 bn | $2.1 bn |
| Bank equity capital | $231.8 mn | $236.6 mn | $222.8 mn | $212.7 mn | $207.1 mn | $216.4 mn | $228.0 mn | $231.9 mn |
| CET1 ratio | 13.62% | 13.64% | 13.31% | 13.25% | 12.92% | 12.78% | 13.03% | 13.12% |
| Return on equity (ROE) | 12.64% | 12.69% | 12.28% | 13.15% | 14.00% | 14.78% | 14.77% | 15.62% |
| Uninsured share of domestic deposits | 21.11% | 24.08% | 23.65% | 25.74% | 18.31% | 19.05% | 18.25% | 20.31% |
| Full-time equivalent employees | 196 | 186 | 191 | 190 | 199 | 196 | 199 | 197 |
| Number of offices | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 12 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Community Bank of the Chesapeake, oldest first; figures before and after each event are not like for like.
- . Absorbed County First Bank (FDIC certificate 32904).
- . Merged into Shore United Bank, National Association (FDIC certificate 4832).
Questions and identifiers
What were the total assets of Community Bank of the Chesapeake?
Community Bank of the Chesapeake reported $2.5 bn at in its Call Report.
Is Community Bank of the Chesapeake the same as its holding company?
No. This page covers Community Bank of the Chesapeake, FDIC certificate 30903; COMMUNITY FINANCIAL CORP THE (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Community Bank of the Chesapeake profitable?
Community Bank of the Chesapeake reported net income of $17.6 mn for the year to ; annualized return on equity: 15.62%. So yes: Community Bank of the Chesapeake made a profit over these months.
When is data for Community Bank of the Chesapeake next updated?
Community Bank of the Chesapeake no longer files Call Reports; its data ends at .
Where can I check the figures for Community Bank of the Chesapeake?
In the FDIC BankFind Suite record for certificate 30903, and in the Call Reports of Community Bank of the Chesapeake (RSSD ID 697978) at the FFIEC Central Data Repository.