Closed Friday, October 17, 2014 · Rising Sun, Cecil County, Maryland
NBRS Financial
Founded in 1880, NBRS Financial had been in business 134 years, the ninth-longest run among the failures since 2000 with a known founding date. Its assets had shrunk 44% from their peak in the first quarter of 2010 by the last report before closing. It reported a net loss in six of its final nine reporting years.
On the books, 2006 to 2014
Total assets peaked at $279 million. Equity capital went from 9.4% of assets in the fourth quarter of 2006 to 1.1% at the last report. The deepest annual loss, $6.8 million, was booked in 2010.* 2014: January to September only, the last report before closing.
Size against the other 2014 failures
Total assets of each 2014 failure, log scale; NBRS Financial in red.
By assets it ranked fifth of the 18 failures in 2014. Within Maryland it ranks 15th by size of the 32 failures recorded since 1934. Across the failures of 2014, the median estimated loss came to 13% of assets. In the size ranking of that year, just above it was Eastside Commercial Bank of Conyers, Georgia ($174 million, loss 22% of assets); just below, Syringa Bank of Boise, Idaho ($153 million, loss 2.3% of assets). Every 2014 failure in the explorer.
Failures in Maryland
It was one of two banks in Maryland to fail in 2014. The previous failure there was Slavie Federal Savings Bank of Bel Air, on May 30, 2014. No bank in Maryland has failed since. No other failed bank in the FDIC's records was based in Cecil County.