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First Virginia Bank

Falls Church, VA · Cert 17092

FDIC

Q3 2003

$5.5BAssets
$2.6BLoans
$4.0BDeposits
$1.2BEquity
Loan mix
53%RE $321.1M45%C&I $275.8M2%Consumer $13.9MQ4 2001Q3 2003
Deposit mix
74%Interest-bearing $3.0B26%Noninterest $1.0BQ4 2001Q3 2003

Executive Summary

  • Earnings: ROA of 0.19%, down 203 bps year over year; NIM at 0.78%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 65.93% of deposits as of Q3 2003.

Return on Assets (YTD, annualized)

0.19%-203 bps YoY

Net Interest Margin (YTD, annualized)

0.78%-382 bps YoY

Efficiency Ratio (YTD, annualized)

70.58%+2,787 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

6.54%Q3 ’015.69%Q3 ’020.89%Q3 ’03-1%-83%

Non-interest income vs. expense

2.75%Q3 ’012.56%Q3 ’020.81%Q3 ’03-11%-62%

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets2.24%2.16%2.22%2.23%2.20%2.10%1.94%0.19%-203 bps
Return on Equityn/a31.61%31.89%31.21%31.32%30.85%28.72%1.78%-2,943 bps
Net Interest Margin4.50%4.73%4.68%4.61%4.49%4.29%4.18%0.78%-382 bps
Efficiency Ratio43.37%43.72%42.82%42.71%42.75%43.20%44.09%70.58%+2,787 bps
Non-Interest Burden1.18%1.26%1.21%1.18%1.15%0.98%1.05%0.45%-73 bps
Growth
Asset Growth (YoY)13.93%14.27%16.77%12.60%11.50%8.84%6.99%27.25%+1,464 bps
Loan Growth (YoY)4.64%9.61%7.14%1.90%0.34%-4.24%-5.36%-0.89%-279 bps
Deposit Growth (YoY)13.10%13.55%18.15%14.35%12.95%11.66%8.99%7.61%-674 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.24%0.26%0.27%0.26%0.29%0.29%0.50%0.11%-15 bps
Allowance / Loans1.10%1.10%1.11%1.11%1.11%1.11%1.11%1.11%0 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital10.30%10.02%10.77%11.47%10.36%10.76%10.05%10.97%-50 bps
Equity / Assets6.94%6.75%7.19%7.64%6.56%7.09%6.62%21.11%+1,347 bps
Liquidity & Funding
Loans / Deposits75.58%75.86%72.90%71.58%67.14%65.06%63.30%65.93%-566 bps
Liquid Assets / Assets16.03%16.74%21.21%24.62%26.97%29.30%33.29%0.00%-2,462 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a