1. A "troubled asset ratio" compares the sum of troubled assets with the sum of Tier 1 Capital plus Loan Loss Reserves. Generally speaking, higher values in this ratio indicate that a bank is under more stress caused by loans that are not paying as scheduled. Each bank graphic is on it's own scale: use caution when comparing two banks.
2. The graphs are for comparing this bank to the national median troubled asset ratio. Because the ratio varies so widely among banks across the nation, the scale is not consistent from bank to bank and the graphs should not be used to compare banks to one another.
Note: The Federal Deposit Insurance Corp. insures deposit accounts up to $250,000. The "troubled asset ratio" is not an FDIC statistic. It is derived by adding the amounts of loans past due 90 days or more, loans in non-accrual status and other real estate owned (primarily properties obtained through foreclosure) and dividing that amount by the bank's capital and loan loss reserves. It is reported as a percentage. For example, a bank with $100,000 in "troubled assets" and $1,000,000 in capital would have a "troubled asset ratio" of 10 percent. For a fuller explanation, see our methodology.
2. The graphs are for comparing this bank to the national median troubled asset ratio. Because the ratio varies so widely among banks across the nation, the scale is not consistent from bank to bank and the graphs should not be used to compare banks to one another.
FINANCIAL DETAILS FOR THE FARMERS BANK OF WILLARDS
Line item
Assets
Deposits
Loans
Loan loss provision
Profit
Capital
Reserves
Loans 90 days or more past due
Non-accruing loans
Other real estate owned
Capital plus reserves
Total troubled assets
June 30, 2013
$317,450,000
$258,168,000
$258,062,000
$2,137,000
$578,000
$30,435,000
$6,620,000
$1,240,000
$14,795,000
$4,263,000
$37,055,000
$20,298,000
June 30, 2014
$307,925,000
$240,068,000
$260,788,000
$1,470,000
$703,000
$32,236,000
$6,520,000
$48,000
$10,946,000
$6,319,000
$38,756,000
$17,313,000
Looks like they're sitting on a ton of real estate right now.
ReplyDeleteSecond National Bank all over?
ReplyDeleteI've been a loyal customer of Farmer's Bank of Willards for a very long time. Love that bank! It's one of very few left where you're treated like a real (local) person and not just a number.
ReplyDeleteNo.
ReplyDeleteYIKES!
ReplyDeleteI wouldn't be a bit surprised if all of the local banks are in trouble. With the way Wicomico taxes people, real estate, and with Maryland being labeled a 'Tax Hell' by Fortune Magazine, I wouldn't be a bit surprised if the who county were to file for bankruptcy tomorrow morning. Wicomico is in a terrible financial pickle . . . as you will soon see.
ReplyDeleteDue to Chris davis and the way he runs the bank, maybe. Look at the stock price over the past few years----- tanked
ReplyDeleteGeorge needs to run the show. Chris Davis is indeed the bank's quagmire.
ReplyDelete