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First Bank of Linden

Linden, AL · Cert 15695

FDIC · 1 branch

Q1 2021

$86.9MAssets
$21.0MLoans
$74.6MDeposits
$12.1MEquity
Loan mix
40%RE $6.1M36%C&I $5.5M25%Consumer $3.8MQ2 2019Q1 2021
Deposit mix
78%Interest-bearing $57.9M22%Noninterest $16.7MQ2 2019Q1 2021

Executive Summary

  • Earnings: ROA of 0.39%, down 18 bps year over year; NIM at 2.25%.
  • Asset quality: problem loans at 2.34% of loans (+234 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 14.50%, down 44 bps from a year ago.
  • Funding: loans stand at 28.08% of deposits as of Q1 2021.

Return on Assets (YTD, annualized)

0.39%-18 bps YoY

Net Interest Margin (YTD, annualized)

2.25%-62 bps YoY

Efficiency Ratio (YTD, annualized)

86.50%+393 bps YoY

Tier 1 Leverage Ratio

14.50%-44 bps YoY

NIM

4.05%Q1 ’193.71%Q1 ’202.75%Q1 ’21-15%-21%

Non-interest income vs. expense

2.68%Q1 ’192.63%Q1 ’202.21%Q1 ’21+0%-18%

Year to date, annualized, through each quarter.

MetricQ2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021YoY ΔTrend
Earnings
Return on Assets0.60%0.78%0.69%0.57%0.51%0.44%0.41%0.39%-18 bps
Return on Equity3.99%5.16%4.60%3.79%3.39%2.95%2.81%2.77%-102 bps
Net Interest Margin3.24%3.26%3.11%2.87%2.66%2.49%2.39%2.25%-62 bps
Efficiency Ratio65.45%65.61%70.75%82.57%82.37%84.05%90.02%86.50%+393 bps
Non-Interest Burden2.00%2.02%2.10%2.31%2.14%2.05%2.12%1.91%-41 bps
Growth
Asset Growth (YoY)1.84%2.11%3.93%-0.14%4.41%9.00%11.55%12.48%+1,262 bps
Loan Growth (YoY)-4.51%-3.91%-5.22%-12.44%-20.44%-20.31%-18.48%-22.09%-965 bps
Deposit Growth (YoY)0.81%0.78%3.55%0.37%4.28%9.80%12.47%14.01%+1,364 bps
Asset Quality
Nonperforming Loans / Loans1.27%1.27%1.31%0.00%0.00%0.00%0.00%2.34%+234 bps
Net Charge-Offs / Loans1.25%0.81%0.65%0.31%0.24%0.22%0.19%0.02%-29 bps
Allowance / Loans1.23%1.21%1.15%1.21%1.36%1.32%1.24%1.45%+24 bps
Allowance Coverage of NPLs1.0x1.0x0.9xn/an/an/an/a0.6xn/a
Capital
Tier 1 Leverage Ratio14.82%14.87%14.38%14.94%14.58%13.84%13.17%14.50%-44 bps
Total Risk-Based Capital27.36%25.00%27.20%30.00%29.41%29.10%27.69%32.51%+251 bps
Equity / Assets15.21%15.15%14.91%15.05%15.21%14.47%14.11%13.98%-107 bps
Liquidity & Funding
Loans / Deposits44.79%43.66%44.11%41.10%34.17%31.69%31.97%28.08%-1,302 bps
Liquid Assets / Assets0.07%0.06%0.06%0.05%0.05%0.04%0.04%0.03%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a