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First Bank & Trust Company

Lubbock, TX · Cert 14778

FDIC · 26 branches

Q1 2023

$2.9BAssets
$1.7BLoans
$2.5BDeposits
$379.5MEquity
Loan mix
68%RE $893.7M31%C&I $404.4M2%Consumer $19.9MQ2 2021Q1 2023
Deposit mix
73%Interest-bearing $1.9B27%Noninterest $0.7BQ2 2021Q1 2023

Market Position · Lubbock, TX · 2022 SOD (annual) · 9.8% share · #3 of 26 inst. · $1.2B of $12.4B

9.4% Lubbock
38.2% Hockley
43.4% Mitchell
32.3% Gray

Executive Summary

  • Earnings: ROA of 0.78%, up 9 bps year over year; NIM at 2.83%.
  • Asset quality: problem loans at 0.80% of loans (+9 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.59%, down 42 bps from a year ago.
  • Funding: loans stand at 65.23% of deposits as of Q1 2023.

Return on Assets (YTD, annualized)

0.78%+9 bps YoY

Net Interest Margin (YTD, annualized)

2.83%-27 bps YoY

Efficiency Ratio (YTD, annualized)

68.49%+180 bps YoY

Tier 1 Leverage Ratio

9.59%-42 bps YoY

NIM

3.50%Q1 ’212.96%Q1 ’224.05%Q1 ’23-13%-9%

Non-interest income vs. expense

3.32%Q1 ’212.73%Q1 ’222.36%Q1 ’23-17%+1%

Year to date, annualized, through each quarter.

MetricQ2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023YoY ΔTrend
Earnings
Return on Assets1.18%1.35%1.32%0.69%0.90%0.87%0.90%0.78%+9 bps
Return on Equity7.51%8.51%8.32%4.56%6.23%6.27%6.70%6.22%+166 bps
Net Interest Margin3.58%3.51%3.43%3.10%3.07%3.06%3.10%2.83%-27 bps
Efficiency Ratio66.87%64.11%64.27%66.69%62.83%62.00%62.10%68.49%+180 bps
Non-Interest Burden1.91%1.73%1.71%1.62%1.49%1.49%1.56%1.63%+1 bps
Growth
Asset Growth (YoY)129.41%121.51%-9.18%-3.28%2.74%4.71%2.80%1.98%+526 bps
Loan Growth (YoY)119.92%105.67%-17.41%-4.20%5.79%12.58%14.12%11.00%+1,520 bps
Deposit Growth (YoY)146.01%152.82%-8.59%1.10%6.10%10.34%7.54%3.56%+246 bps
Asset Quality
Nonperforming Loans / Loans0.97%1.04%0.48%0.71%0.60%0.91%0.82%0.80%+9 bps
Net Charge-Offs / Loans0.08%0.06%0.07%1.16%0.57%0.36%0.30%0.02%-114 bps
Allowance / Loans1.47%1.34%1.17%1.02%0.94%1.13%1.12%1.11%+9 bps
Allowance Coverage of NPLs1.5x1.3x2.4x1.4x1.6x1.2x1.4x1.4x0.0x
Capital
Tier 1 Leverage Ratio9.57%9.94%9.84%10.01%9.50%9.13%9.29%9.59%-42 bps
Total Risk-Based Capital14.98%15.77%15.48%14.76%13.45%13.15%13.51%13.87%-90 bps
Equity / Assets16.07%16.24%15.94%14.54%12.93%11.86%12.31%12.87%-167 bps
Liquidity & Funding
Loans / Deposits65.39%61.86%60.03%60.86%65.20%63.11%63.70%65.23%+437 bps
Liquid Assets / Assets0.20%0.49%0.15%0.18%0.28%4.80%4.81%5.00%+482 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a