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First Vermont Bank, N.A.

Brattleboro, VT · Cert 14147

FDIC

Q4 2001

$714.5MAssets
$547.1MLoans
$587.8MDeposits
$60.5MEquity
Loan mix
51%RE $108.8M49%C&I $105.0M0%Consumer $0.9MQ4 2000Q4 2001
Deposit mix
84%Interest-bearing $491.7M16%Noninterest $96.2MQ4 2000Q4 2001

NIM

7.98%Q1 ’017.37%Q3 ’017.02%Q4 ’01+8%+5%

Non-interest income vs. expense

2.45%Q1 ’012.14%Q3 ’012.61%Q4 ’01-25%+41%

Executive Summary

  • Earnings: ROA of 1.62%, up 33 bps year over year; NIM at 4.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.47%.
  • Funding: loans stand at 93.07% of deposits as of Q4 2001.

Financial Results

Return on Assets (quarter, annualized)

1.62%+33 bps YoY

Net Interest Margin (quarter, annualized)

4.94%

Efficiency Ratio (quarter, annualized)

48.15%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2000Q1 2001Q2 2001Q3 2001Q4 2001YoY ΔTrend
Earnings
Return on Assets1.29%1.68%2.33%1.79%1.62%+33 bps
Return on Equityn/an/a27.36%20.84%18.88%n/a
Net Interest Marginn/a4.35%4.68%4.71%4.94%n/a
Efficiency Ration/a51.10%40.71%40.18%48.15%n/a
Non-Interest Burdenn/a2.01%1.58%1.51%2.13%n/a
Growth
Asset Growth (YoY)-1.93%-2.76%-6.49%-3.64%-5.70%-377 bps
Loan Growth (YoY)2.38%-0.93%-0.57%-6.33%-10.56%-1,294 bps
Deposit Growth (YoY)-5.23%-6.90%-5.28%0.12%5.76%+1,099 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/a0.23%0.17%0.33%0.47%n/a
Allowance / Loansn/a1.35%1.18%1.31%1.34%n/a
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 Capitaln/a11.14%10.99%11.12%10.93%n/a
Equity / Assetsn/a8.58%8.45%8.72%8.47%n/a
Liquidity & Funding
Loans / Deposits110.05%108.65%107.02%99.45%93.07%-1,698 bps
Liquid Assets / Assets0.00%0.02%0.01%0.01%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a