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Directors
H. Allen Becker - Chairman
of the Board
Francis X. Bossle, Jr.
Thomas W. Matthews
Francis J. Reisig
Donald A. Thorson
Officers
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William J. Bocek, Jr.
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President, CEO
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Thomas J. Ahearn
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Senior Vice President, Chief Lending Officer
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Calvin W. Anthony
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Senior Vice President, CFO
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Mark D. Freyer
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Senior Vice President, Chief Risk/ComplianceOfficer
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Gail E. Smith
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Senior Vice President, Chief Operating Officer
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Robert K. Bloodsworth, Jr.
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Vice President, Controller
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James L. Ercole
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Vice President, Branch Operations Administrator
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Joanne E. Sheckells
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Vice President, Residential/Consumer Lending
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Sarah J. Collier
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Vice President, Retail Banking
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Rosemarie Kirschner
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Vice President, Assistant Corporate Secretary
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Dorothea M. Sharp
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Vice President Loan Servicing Dept.
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Michael R. Sherman
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Assistant Vice President, Network Administrator
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Kimberly A. Waldt
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Assistant Vice President, Manager Arbutus
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Kathleen Lawrence
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Corporate Secretary
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Statement of Condition
December 31, 2007
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Assets
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Mortgage Loans
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$152,397,272
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Other Loans
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10,796,667
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Cash and Liquid Investments
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17,587,867
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Mortgage Backed Securities
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19,165,891
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Federal Home Loan Bank Stock
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430,100
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Office Buildings and Equipment
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1,860,625
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Real Estate Owned
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2,341,895
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Other Assets
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7,749,421
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Total Assets
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$212,329,738
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Liabilities and Capital
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Savings and Certificate Accounts
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$188,315,538
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Borrowed Funds
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0
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Mortgage Escrow Accounts
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461,392
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Other Liabilities
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2,233,379
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Regulatory Capital
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21,319,429
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Total Liabilities and Capital
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$212,329,738
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Certification
This statement has been prepared in accordance with the regulatory
reporting requirements of the Office of Thrift Supervision (OTS). Core and
Risk-Based Capital are the elements of regulatory capital determined under
such requirements. Regulatory capital is the basis by which the OTS
determines whether a savings association is operating in a safe and sound
manner. At 12/31/07 the bank's capital position was:
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Actual
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Required
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Excess
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Core
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$21,319,429
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$8,467,150
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$12,852,279
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Risk-Based Capital
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$22,167,387
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$11,425,113
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$10,742,274
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Regulatory Capital Requirements of the OTS require Chesapeake Bank of
Maryland to maintain a minimum standard of Core Capital of 4% of adjusted
total assets. Risk-Based Capital Requirements must be maintained at 8% of
risk-weighted assets. As of December 31, 2007, the Bank has the necessary
regulatory capital to meet those requirements.
Copies of the annual audited financial statements are available to the
public at our Main Office,
2001 East Joppa Road, Baltimore, MD 21234.
I, Calvin W. Anthony, Chief Financial Officer, of the above named savings
association, do hereby declare that this Statement of Condition has been
prepared in conformance with instructions issued by the Office of Thrift
Supervision and is true to the best of my knowledge.
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