American Eagle Savings Bank shuttered by Pennsylvania regulators
01/23/2012
Pennsylvania banking regulators shuttered American Eagle Savings Bank in Boothwyn (Upper Chicester)
on Friday. The institution had assets of $19.6 million as of September 30 (the most recent data available)
and was rated E- ("Very Weak") by Weiss at the time of failure and was first identified as "Weak" in December
2009. It reported a loss of more than $403,000 for the first nine months of 2011 and had below-FDIC-mandated
Tier 1 (5%) and risk-based capital (6%) ratios of 1.87% and 4.14%, respectively.
Capital Bank, NA located in Rockville, Maryland, with assets of $325.1 million and a Weiss Financial
Strength Rating of D+ ("Weak"), assumed the deposits of American Eagle. Capital Bank has moderate Tier 1 and
risk-based capital ratios of 9.05% and 13.91%, respectively, and decent asset quality with nonperforming loans
making up only 1.9% of its total loan portfolio. The bank earned $4.7 million for the nine months ending
September 30 for an ROA of 0.65%, below the industry avearge of 0.94%.