# COVENANT BANK
DOYLESTOWN, PA · FDIC certificate 58502 · asset band $300M-1B · latest filing 2020-06 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $608.0M | |
| Deposits | $479.9M | |
| Loans and leases | $472.0M | |
| Total equity | $53.7M | |
| Loans / deposits | 97.54% (p84 of band) | 82.55% |
| Liquid assets / assets | 17.87% (p23 of band) | |
| Uninsured deposits / deposits | 47.05% (p95 of band) | 23.22% |
| Brokered deposits | 2.44% | |
| Wholesale funding | 13.04% (p83 of band) | |
| FHLB advances / assets | 10.31% | |
| Tier 1 leverage | 9.26% (p33 of band) | 10.04% |
| Unrealized securities loss / equity | 0.35% (p16 of band) | 2.80% |
| AOCI / equity | 0.12% (p15 of band) | |
| ROA (annualized) | 0.91% (p40 of band) | 1.04% |
| Net interest margin | 3.28% (p31 of band) | 3.59% |
| Efficiency ratio | 62.34% (p42 of band) | |
| Noncurrent loans | 0.73% (p61 of band) | 0.55% |
| Net charge-offs (annualized) | 0.05% (p70 of band) | |
| Reserve coverage of noncurrent | 113.01% | |
| Real estate % of loans | 78% | |
| Construction % of loans | 21.44% (p32 of band) | |
| Auto loans | $12,000 (0.00% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p44 of band) | |
| Deposits YoY | 24.1% | |
| Employees | 45 | |

## Flags firing in the latest filing

- **capital falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | loans exceed deposits |  |
| 2011-06 | 1 | reserve under noncurrent | loans exceed deposits |
| 2011-09 | 1 |  |  |
| 2011-12 | 1 |  |  |
| 2012-03 | 2 | capital falling |  |
| 2012-06 | 2 |  |  |
| 2012-09 | 2 |  |  |
| 2012-12 | 1 |  | capital falling |
| 2013-03 | 1 |  |  |
| 2013-06 | 2 | capital falling |  |
| 2013-09 | 1 |  | capital falling |
| 2013-12 | 4 | loans exceed deposits, wholesale funding >15%, charge-offs p90 |  |
| 2014-03 | 2 |  | wholesale funding >15%, charge-offs p90 |
| 2014-06 | 3 | capital falling |  |
| 2014-09 | 2 |  | loans exceed deposits |
| 2014-12 | 6 | loans exceed deposits, wholesale funding >15%, losing money, charge-offs p90 |  |
| 2015-03 | 2 |  | capital falling, wholesale funding >15%, losing money, charge-offs p90 |
| 2015-06 | 2 | charge-offs p90 | loans exceed deposits |
| 2015-09 | 4 | capital falling, noncurrent p90 |  |
| 2015-12 | 5 | loans exceed deposits, wholesale funding >15% | noncurrent p90 |
| 2016-03 | 4 |  | charge-offs p90 |
| 2016-06 | 3 |  | wholesale funding >15% |
| 2016-09 | 5 | wholesale funding >15%, expense ratio p90, noncurrent p90 | capital falling |
| 2016-12 | 5 | losing money, charge-offs p90 | expense ratio p90, noncurrent p90 |
| 2017-03 | 4 | capital falling | losing money, charge-offs p90 |
| 2017-06 | 3 |  | capital falling |
| 2017-09 | 4 | charge-offs p90 |  |
| 2017-12 | 3 |  | reserve under noncurrent |
| 2018-03 | 5 | losing money, reserve under noncurrent |  |
| 2018-06 | 5 | capital falling | losing money |
| 2018-09 | 5 |  |  |
| 2018-12 | 4 |  | capital falling |
| 2019-03 | 2 |  | charge-offs p90, reserve under noncurrent |
| 2019-06 | 3 | charge-offs p90 |  |
| 2019-09 | 3 |  |  |
| 2019-12 | 3 | capital falling | charge-offs p90 |
| 2020-03 | 2 |  | wholesale funding >15% |
| 2020-06 | 1 |  | loans exceed deposits |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2026-05-12 [Longtime Banking Leader Kelley Cwiklinski Retires from C&N After Decades of Service - VISTA.Today](https://news.google.com/rss/articles/CBMib0FVX3lxTE5ydjctcFdCRWVQeVhGYVZvbjhYemxFYU54MW1OMXJzOExmU0JBeERfeVFKUzVKV1hCaFgxMTNjMW45aTRma2dVR0NtSHJ1X0dIa0R2WjJVY1FDR1hSTEtTRzNHM0ZOWF9GeXJZeUNoYw?oc=5) · VISTA.Today
- 2026-06-12 [C&N Bank taps 25-year Univest veteran as chief wealth officer - The Business Journals](https://news.google.com/rss/articles/CBMiqwFBVV95cUxQMk0tRlJsUmZlbWhJZ3p2elNsb2tWQ2plMFhxdVZ0SlNYaTk1ek45UkwyaHpNSTcyQjk0dFYxNGhpa2dPbzcyUnAxOXRaQ1FEbzMzMjBNOEZTT3ZaU2tXVThQNXpnVWFOOS03U01IUE1WejJBcnBaY3BtbmZ1WW5kbXNnVVRySmhWX2YtcDJtUktvSVd4TDRtVjZ4UWR4NjFGUFp3NlQ1QzFvQXM?oc=5) · The Business Journals
- 2023-11-25 [Blair Rush - delval.edu](https://news.google.com/rss/articles/CBMiQ0FVX3lxTE9USTU4ODJUSW5fV1dtTzVYdHhLRDZ2a2IzOW5haHhjejRNUHhGeHB2N01EZi05WkliX180NWl2WnlfeGc?oc=5) · delval.edu
- 2019-12-19 [Cash for Philly banks: Citizens & Northern buys Covenant for $77 million; Meridian raises $40 million - Inquirer.com](https://news.google.com/rss/articles/CBMinAFBVV95cUxNYmd1bWx3bHdRZG9FYUdOR1pOQkd4Mnd0ZFB3a0g4eXBqM0JGVU1lU1FHZW9nTGlyaXFEUEprc1ByR0l3Sy10YjFKbmJoczFGREt5M2NvLVFtc29oWlcxajRfQmtTdk1BN041TzVWbzc5UGUwcFl5R0hyd3Rjd3pFOTg3SzlMSUFiZl9TeFJLRXhqNjZBcUdRUXhGd1c?oc=5) · Inquirer.com
- 2025-05-12 [Pennsylvania community bank strikes deal for in-state rival - American Banker](https://news.google.com/rss/articles/CBMimwFBVV95cUxON1pOMUQ2TkVYM3lxTU53clRaNGZZQXRXcWtiVHROeTlaVFpuTnB5dWZiS09OX3UzZUlRSTdoLWd4anlULWM1eGppU2VtcmEwZlRmd3FVQk9LWGQ4UnNEdlBNODdEYkFnZUJRem5XODFYcTQ4YkFkVUlIdjY3ZHlsdFUxU1N0M0dsR3VGWkZpNVNvWmVtalpnMk4waw?oc=5) · American Banker
- 2015-07-24 [Doylestown bank looks to growth with new name, leadership - PhillyBurbs](https://news.google.com/rss/articles/CBMinAFBVV95cUxNT0swY0dwSGVwLXNpeDhlUjRzcWZkaWFERkRUc2dscVZ4NWNTR2Fhai1YbHY5cURyazY4ZUdObmRGM2dqSFVOYWJZeGJmMjNMcks3MzNvb1B6c085ajhOYnJiMTQ0VWNLQ0NmeWpnbWRGSV9TbVAyV2UyeEN2ZW5IcDJHS3Nzc2JFSi1wbXc2RUNSNHc3Vk5nUTFEWkk?oc=5) · PhillyBurbs
- 2021-02-07 [Newsmakers for February 7 - Reading Eagle](https://news.google.com/rss/articles/CBMidEFVX3lxTE00VHJtaElRNk9yYXJkb1FmUnc1blJyeUtVQ1F2OTQ3OXFLdXk3Y1N2bTd6LWZQX3FTTzdycFBHazN2YmpkdFM1cEtZSDB3T2RkQnRRbGY5TU5IczF5Qm1uNkQwdnNUZnNfdzVmZV81YWk2UXZP?oc=5) · Reading Eagle

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=58502 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/6.json (key "58502", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide