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Summary: Chevy Chase Bank, FSB Mar 06

  • ID: 2034356
  • March 2006
  • Standard & Poors
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The ratings on Chevy Chase Bank, FSB (Chevy) reflect its growing franchise in attractive markets, excellent asset quality, and low credit risk profile. Volatile earnings, weak capital metrics, a high expense base, and a growing business concentration in residential mortgage loans somewhat offset these key rating strengths. As the largest independent bank in the attractive D.C. area, Chevy has developed a solid franchise. Among retail banks, Chevy ranks fifth in deposit market share within the D.C. MSA, and has the No. 1 deposit share in Montgomery County, an affluent suburb. Last fiscal year alone, Chevy added 23 de novo branches, bringing the network to a total of 251 branches. Going forward, management expects to add 20-25 de novo branches per...

Companies mentioned in this report are:
- Capital One N.A.

Action: Review

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- Capital One N.A.

Note: Product cover images may vary from those shown
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