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Bank of Gassaway

Gassaway, WV · Cert 15397

FDIC

Q1 2014

$178.4MAssets
$96.4MLoans
$160.1MDeposits
$17.6MEquity
Loan mix
83%RE $76.9M4%C&I $3.8M13%Consumer $12.0MQ1 2013Q1 2014
Deposit mix
66%Interest-bearing $106.0M34%Noninterest $54.1MQ1 2013Q1 2014

NIM

4.21%Q1 ’124.08%Q1 ’134.10%Q1 ’14+1%+2%

Non-interest income vs. expense

3.04%Q1 ’123.17%Q1 ’133.44%Q1 ’14+1%+18%

Executive Summary

  • Earnings: ROA of 0.54%, down 8 bps year over year; NIM at 3.63%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.22%.
  • Funding: loans stand at 60.22% of deposits as of Q1 2014.

Financial Results

Return on Assets (YTD, annualized)

0.54%-8 bps YoY

Net Interest Margin (YTD, annualized)

3.63%+9 bps YoY

Efficiency Ratio (YTD, annualized)

81.03%+767 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets0.62%0.57%0.56%0.58%0.54%-8 bps
Return on Equity6.40%5.85%5.60%5.84%5.37%-103 bps
Net Interest Margin3.54%3.53%3.60%3.65%3.63%+9 bps
Efficiency Ratio73.35%75.99%77.13%77.80%81.03%+767 bps
Non-Interest Burden2.39%2.52%2.62%2.69%2.82%+44 bps
Growth
Asset Growth (YoY)-5.45%-2.26%-5.26%-3.47%3.70%+915 bps
Loan Growth (YoY)8.85%8.61%6.22%3.73%0.33%-851 bps
Deposit Growth (YoY)-2.14%2.11%-1.18%-3.98%4.01%+615 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.10%0.07%0.14%0.22%+19 bps
Allowance / Loans1.47%1.45%1.50%1.43%1.40%-7 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 Capital19.78%20.05%20.49%20.69%20.99%+121 bps
Equity / Assets9.94%9.99%10.39%10.12%9.87%-7 bps
Liquidity & Funding
Loans / Deposits62.42%64.48%66.78%63.77%60.22%-221 bps
Liquid Assets / Assets3.58%3.53%3.72%3.56%3.44%-13 bps
CRE / Total Capitaln/an/an/an/an/an/an/a