Old Line Bank (merged into WesBanco Bank, Inc.)
Old Line Bank reported total assets of $3.1 bn at Q3 2019, its last Call Report before it merged into WesBanco Bank, Inc.. The CET1 capital ratio at Old Line Bank was 11.68%, and the uninsured share of Old Line Bank was 21.79%. Source: FDIC Call Reports.
Key takeaways
- Since , Old Line Bank has taken over 2 institutions; the latest was Bay Bank, FSB on (FDIC Call Reports).
What sets Old Line Bank apart
How large is Old Line Bank?
The balance sheet of Old Line Bank at : assets $3.1 bn, deposits $2.4 bn, net loans $2.5 bn (loans equal to 103.29% of deposits). Securities make up 8.7% of total assets at Old Line Bank. Since , when Old Line Bank held $1.5 bn, its assets grew 104.2%. In the year to , deposits at Old Line Bank rose 7.8% while its total assets rose 5.6%. At , Old Line Bank employed 361 full-time equivalent staff across 37 offices, about $8.6 mn of assets per employee and $65.3 mn of deposits per office.
How much funding at Old Line Bank is uninsured?
At Old Line Bank, uninsured deposits (above the FDIC limit) made up 21.79% of domestic deposits at (+3.14 pp on a year earlier). In dollars, Old Line Bank estimated $526.6 mn of uninsured deposits.
Key facts, Q3 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.4 bn | $2.2 bn (Q3 2018) | |
| Net loans and leases | $2.5 bn | $2.4 bn (Q3 2018) | |
| Loan-to-deposit ratio | 103.29% | 106.73% (Q3 2018) | |
| Tier 1 leverage ratio | 10.74% | 10.22% (Q3 2018) | |
| Total risk-based capital ratio | 11.98% | 11.34% (Q3 2018) | |
| Net interest margin | 3.52% | 3.92% (Q3 2018) | |
| Return on assets (ROA) | 1.27% | 1.24% (Q3 2018) | |
| Efficiency ratio | 49.50% | 54.45% (Q3 2018) | |
| Unrealized gain/loss on available-for-sale securities | Gain of $1.5 mn | Turned from a loss into a gain | |
| Noncurrent loans to total loans | 0.34% | 0.29% (Q3 2018) | |
| Net charge-offs to average loans | 0.02% | 0.01% (Q3 2018) |
US rank of Old Line Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Old Line Bank: assets, deposits and loans
- Total assets $3.1bn
- Deposits $2.4bn
- Net loans $2.5bn
Capital and securities
The CET1 ratio of Old Line Bank stood at 11.68% in , +0.62 pp year on year. Low and high at Old Line Bank since : 9.98% () to 11.69% (). Equity capital of Old Line Bank at : $427.0 mn, or 13.8% of total assets. Old Line Bank also reported a total capital ratio of 11.98% for , and a tier 1 leverage ratio of 10.74%.
The available-for-sale portfolio of Old Line Bank showed an unrealized gain of $1.5 mn at ; the gain turned from a loss into a gain over the year.
Old Line Bank: capital ratios
- Total capital 12%
- CET1 12%
- Tier 1 leverage 11%
Old Line Bank: unrealized securities gains and losses
- Available for sale $2mn
- Held to maturity $0
Profitability and loan quality
For the year to , Old Line Bank earned a return on equity of 9.28%; return on assets: 1.27%. Net interest margin at Old Line Bank: 3.52%, -0.40 pp in a year. Old Line Bank net income: $29.0 mn, up 22.4% year on year. The efficiency ratio of Old Line Bank was 49.50%: about 50 cents cost per revenue dollar, against 65 cents at the median peer.
At , noncurrent loans were 0.34% of total loans at Old Line Bank; net charge-offs: 0.02% of average loans. Gross loans and leases at Old Line Bank: $2.5 bn at , against $2.4 bn at .
Old Line Bank: profitability
- Return on equity 9.3%
- Net interest margin 3.5%
- Return on assets 1.3%
Peer group of Old Line Bank
The peer group of Old Line 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 Old Line Bank (state nonmember bank) and 0 have head offices in Maryland. Against them, Old Line Bank shows CET1 ratio 11.68% against a peer median of 12.46%, return on equity 9.28% against a peer median of 11.90% and uninsured deposit share 21.79% against a peer median of 22.79%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Enterprise Bank and Trust Company | State nonmember bank | MA | $3.1 bn | 10.78% | 12.13% | 35.22% | |
| RCB Bank | State member bank | OK | $3.1 bn | 12.38% | 11.67% | 7.74% | |
| Nicolet National Bank | National bank | WI | $3.1 bn | 10.32% | 14.23% | 29.80% | |
| Old Line Bank | State nonmember bank | MD | $3.1 bn | 11.68% | 9.28% | 21.79% | |
| Republic Bank | State nonmember bank | PA | $3.1 bn | 12.55% | 0.90% | 67.74% | |
| Union Savings Bank | State-chartered stock savings and loan association | OH | $3.1 bn | 14.67% | 17.79% | 12.57% | |
| Spencer Savings Bank, SLA | State-chartered stock savings and loan association | NJ | $3.0 bn | 15.32% | 4.96% | 15.79% | |
. FDIC Call Reports.
Last eight quarters
Two years at Old Line Bank, to : assets $2.1 bn to $3.1 bn, deposits $1.7 bn to $2.4 bn, equity $238.1 mn to $427.0 mn. Staff 266 to 361; offices 28 to 37.
| Metric | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.1 bn | $2.2 bn | $2.9 bn | $2.9 bn | $2.9 bn | $3.1 bn | $3.1 bn | $3.1 bn |
| Total deposits | $1.7 bn | $1.8 bn | $2.2 bn | $2.2 bn | $2.3 bn | $2.3 bn | $2.4 bn | $2.4 bn |
| Bank equity capital | $238.1 mn | $240.8 mn | $390.4 mn | $395.2 mn | $403.4 mn | $413.5 mn | $422.5 mn | $427.0 mn |
| CET1 ratio | 11.05% | 10.95% | 10.95% | 11.06% | 11.26% | 11.40% | 11.69% | 11.68% |
| Return on equity (ROE) | 10.09% | 11.46% | 10.14% | 9.99% | 10.40% | 9.16% | 9.21% | 9.28% |
| Uninsured share of domestic deposits | 21.26% | 24.91% | 19.72% | 18.65% | 17.49% | 17.74% | 19.10% | 21.79% |
| Full-time equivalent employees | 266 | 270 | 379 | 355 | 367 | 360 | 373 | 361 |
| Number of offices | 28 | 28 | 39 | 37 | 37 | 37 | 37 | 37 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Old Line Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Regal Bank & Trust (FDIC certificate 32370).
- . Absorbed Damascus Community Bank (FDIC certificate 27280).
- . Absorbed Bay Bank, FSB (FDIC certificate 59004).
- . Merged into WesBanco Bank, Inc. (FDIC certificate 803).
Large one-quarter moves at Old Line Bank
- Total assets at Old Line Bank changed by +32.7% in the quarter to 2018-06-30: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Bay Bank, FSB.
Questions and identifiers
What were the total assets of Old Line Bank?
Old Line Bank reported $3.1 bn at in its Call Report.
Is Old Line Bank the same as its holding company?
No. This page covers Old Line Bank, FDIC certificate 27599; OLD LINE BANCSHARES INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Old Line Bank profitable?
Old Line Bank reported net income of $29.0 mn for the year to ; annualized return on equity: 9.28%. So yes: Old Line Bank made a profit over these months.
When is data for Old Line Bank next updated?
Old Line Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Old Line Bank?
In the FDIC BankFind Suite record for certificate 27599, and in the Call Reports of Old Line Bank (RSSD ID 1401387) at the FFIEC Central Data Repository.