Howard Bank (merged into First National Bank of Pennsylvania)
Howard Bank reported total assets of $2.5 bn at Q4 2021, its last Call Report before it merged into First National Bank of Pennsylvania. The CET1 capital ratio at Howard Bank was 15.19%, and the uninsured share of Howard Bank was 39.83%. Source: FDIC Call Reports.
Key takeaways
- Since , Howard Bank has taken over one institution; the latest was First Mariner Bank on (FDIC Call Reports).
What sets Howard Bank apart
How large is Howard Bank?
The balance sheet of Howard Bank at : assets $2.5 bn, deposits $1.9 bn, net loans $1.8 bn (loans equal to 94.65% of deposits). Securities make up 13.3% of total assets at Howard Bank. Since , when Howard Bank held $990.3 mn, its assets grew 150.0%. In the year to , deposits at Howard Bank fell 3.9% while its total assets fell 2.4%. At , Howard Bank employed 196 full-time equivalent staff across 14 offices, about $12.6 mn of assets per employee and $135.7 mn of deposits per office.
How much funding at Howard Bank is uninsured?
At Howard Bank, uninsured deposits (above the FDIC limit) made up 39.83% of domestic deposits at (+7.36 pp on a year earlier). In dollars, Howard Bank estimated $756.8 mn of uninsured deposits.
Key facts, Q4 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $1.9 bn | $2.0 bn (Q4 2020) | |
| Net loans and leases | $1.8 bn | $1.8 bn (Q4 2020) | |
| Loan-to-deposit ratio | 94.65% | 93.42% (Q4 2020) | |
| Tier 1 leverage ratio | 11.81% | 10.36% (Q4 2020) | |
| Total risk-based capital ratio | 16.17% | 14.26% (Q4 2020) | |
| Net interest margin | 3.50% | 3.40% (Q4 2020) | |
| Return on assets (ROA) | 1.15% | -0.61% (Q4 2020) | |
| Efficiency ratio | 51.85% | 61.36% (Q4 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $14,000 | Turned from a loss into a gain | |
| Unrealized gain/loss on available-for-sale securities | Loss of $3.5 mn | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.79% | 0.98% (Q4 2020) | |
| Net charge-offs to average loans | 0.09% | 0.04% (Q4 2020) |
US rank of Howard Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Howard Bank: assets, deposits and loans
- Total assets $2.5bn
- Deposits $1.9bn
- Net loans $1.8bn
Capital and securities
The CET1 ratio of Howard Bank stood at 15.19% in , +1.95 pp year on year. Low and high at Howard Bank since : 10.21% () to 15.19% (). Equity capital of Howard Bank at : $343.2 mn, or 13.9% of total assets. Howard Bank also reported a total capital ratio of 16.17% for , and a tier 1 leverage ratio of 11.81%.
On held-to-maturity securities, Howard Bank carried an unrealized gain of $14,000 at , equal to 0.0% of equity capital. The gain turned from a loss into a gain over the year. Its deepest point: $15,000 in . The available-for-sale portfolio of Howard Bank showed an unrealized loss of $3.5 mn at ; the loss turned from a gain into a loss over the year.
Howard Bank: capital ratios
- Total capital 16%
- CET1 15%
- Tier 1 leverage 12%
Howard Bank: unrealized securities gains and losses
- Available for sale -$3mn
- Held to maturity $14,000
Profitability and loan quality
For the year to , Howard Bank earned a return on equity of 8.88%; return on assets: 1.15%. Net interest margin at Howard Bank: 3.50%, +0.10 pp in a year. Howard Bank net income: $29.3 mn, down 292.1% year on year. The efficiency ratio of Howard Bank was 51.85%: about 52 cents cost per revenue dollar, against 64 cents at the median peer.
At , noncurrent loans were 0.79% of total loans at Howard Bank; net charge-offs: 0.09% of average loans. Gross loans and leases at Howard Bank: $1.8 bn at , against $1.9 bn at .
Howard Bank: profitability
- Return on equity 8.9%
- Net interest margin 3.5%
- Return on assets 1.1%
Peer group of Howard Bank
The peer group of Howard Bank 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 Howard Bank (state nonmember bank) and 0 have head offices in Maryland. Against them, Howard Bank shows CET1 ratio 15.19% against a peer median of 12.92%, return on equity 8.88% against a peer median of 16.12% and uninsured deposit share 39.83% against a peer median of 24.04%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Third Coast Bank | State member bank | TX | $2.5 bn | 12.63% | 6.80% | 0.00% | |
| First National Bank | National bank | ME | $2.5 bn | 13.21% | 18.13% | 10.75% | |
| Armstrong Bank | State member bank | OK | $2.5 bn | 14.99% | 13.56% | 0.00% | |
| Howard Bank | State nonmember bank | MD | $2.5 bn | 15.19% | 8.88% | 39.83% | |
| Country Club Bank | State member bank | MO | $2.5 bn | 12.27% | 16.79% | 40.75% | |
| Tompkins Bank & Trust | State nonmember bank | NY | $2.5 bn | 13.92% | 23.22% | 51.49% | |
| Bankwell Bank | State nonmember bank | CT | $2.5 bn | 11.18% | 15.46% | 37.33% | |
. FDIC Call Reports.
Last eight quarters
Two years at Howard Bank, to : assets $2.5 bn to $2.5 bn, deposits $1.8 bn to $1.9 bn, equity $340.6 mn to $343.2 mn. Staff 233 to 196; offices 16 to 14.
| Metric | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.5 bn | $2.5 bn | $2.6 bn | $2.5 bn | $2.6 bn | $2.6 bn | $2.5 bn | $2.5 bn |
| Total deposits | $1.8 bn | $1.8 bn | $2.0 bn | $2.0 bn | $2.0 bn | $2.0 bn | $1.9 bn | $1.9 bn |
| Bank equity capital | $340.6 mn | $308.9 mn | $315.2 mn | $321.4 mn | $319.8 mn | $330.9 mn | $336.2 mn | $343.2 mn |
| CET1 ratio | 12.35% | 13.11% | 13.14% | 13.24% | 13.46% | 13.65% | 14.02% | 15.19% |
| Return on equity (ROE) | 4.43% | -15.40% | -8.29% | -4.72% | 8.41% | 9.05% | 8.76% | 8.88% |
| Uninsured share of domestic deposits | 26.43% | 34.28% | 30.78% | 32.46% | 33.20% | 35.32% | 37.30% | 39.83% |
| Full-time equivalent employees | 233 | 232 | 231 | 235 | 235 | 229 | 215 | 196 |
| Number of offices | 16 | 16 | 16 | 16 | 14 | 14 | 14 | 14 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Howard Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed First Mariner Bank (FDIC certificate 31286).
- . Merged into First National Bank of Pennsylvania (FDIC certificate 7888).
Large one-quarter moves at Howard Bank
- Total assets at Howard Bank changed by +84.7% in the quarter to 2018-03-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from First Mariner Bank.
Questions and identifiers
What were the total assets of Howard Bank?
Howard Bank reported $2.5 bn at in its Call Report.
Is Howard Bank the same as its holding company?
No. This page covers Howard Bank, FDIC certificate 57776; HOWARD BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Howard Bank profitable?
Howard Bank reported net income of $29.3 mn for the year to ; annualized return on equity: 8.88%. So yes: Howard Bank made a profit over these months.
When is data for Howard Bank next updated?
Howard Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Howard Bank?
In the FDIC BankFind Suite record for certificate 57776, and in the Call Reports of Howard Bank (RSSD ID 3282852) at the FFIEC Central Data Repository.