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Peninsula Bank, The

Ishpeming, MI · Cert 11401

FDIC · 6 branches

Q3 2014

$126.4MAssets
$74.6MLoans
$107.1MDeposits
$16.9MEquity
Loan mix
91%RE $60.8M4%C&I $2.5M5%Consumer $3.4MQ3 2013Q3 2014
Deposit mix
87%Interest-bearing $93.6M13%Noninterest $13.4MQ3 2013Q3 2014

NIM

4.22%Q3 ’123.63%Q3 ’133.55%Q3 ’14-11%+1%

Non-interest income vs. expense

3.03%Q3 ’123.26%Q3 ’134.31%Q3 ’14+12%+10%

Executive Summary

  • Earnings: ROA of -0.24%, down 28 bps year over year; NIM at 3.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 69.67% of deposits as of Q3 2014.

Financial Results

Return on Assets (YTD, annualized)

-0.24%-28 bps YoY

Net Interest Margin (YTD, annualized)

3.26%+3 bps YoY

Efficiency Ratio (YTD, annualized)

95.18%+776 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2013Q4 2013Q1 2014Q2 2014Q3 2014YoY ΔTrend
Earnings
Return on Assets0.04%10.20%-0.10%0.86%-0.24%-28 bps
Return on Equity0.28%1.57%-0.75%6.30%-1.78%-206 bps
Net Interest Margin3.23%3.30%3.07%3.13%3.26%+3 bps
Efficiency Ratio87.42%88.12%95.91%68.65%95.18%+776 bps
Non-Interest Burden2.76%2.84%2.93%1.60%3.04%+28 bps
Growth
Asset Growth (YoY)-4.89%-5.05%-1.53%-5.47%-5.24%-35 bps
Loan Growth (YoY)-12.78%-10.49%-8.19%-7.09%-2.52%+1,026 bps
Deposit Growth (YoY)-4.01%-4.74%-1.38%-6.92%-6.32%-231 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.45%1.46%0.30%0.15%-0.02%-47 bps
Allowance / Loans2.91%1.99%2.10%2.38%2.59%-32 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital22.37%23.77%23.97%24.84%23.74%+137 bps
Equity / Assets12.07%13.76%13.11%14.26%13.40%+134 bps
Liquidity & Funding
Loans / Deposits66.95%71.26%65.55%70.99%69.67%+272 bps
Liquid Assets / Assets3.83%3.56%10.67%5.79%7.41%+357 bps
CRE / Total Capitaln/an/an/an/an/an/an/a