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First Virginia Bank - Colonial

Richmond, VA · Cert 20450

FDIC

Q3 2003

$1.1BAssets
$518.0MLoans
$790.2MDeposits
$243.4MEquity
Loan mix
87%RE $236.0M11%C&I $30.4M1%Consumer $3.6MQ3 2002Q3 2003
Deposit mix
75%Interest-bearing $594.2M25%Noninterest $196.0MQ3 2002Q3 2003

NIM

6.73%Q3 ’016.31%Q3 ’024.19%Q3 ’03+7%-27%

Non-interest income vs. expense

3.85%Q3 ’013.67%Q3 ’023.16%Q3 ’03-5%-14%

Executive Summary

  • Earnings: ROA of 1.03%, down 49 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 65.55% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

1.03%-49 bps YoY

Net Interest Margin (YTD, annualized)

3.42%-129 bps YoY

Efficiency Ratio (YTD, annualized)

64.08%+692 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.52%1.51%1.32%1.34%1.03%-49 bps
Return on Equity16.02%16.19%14.65%14.52%8.04%-798 bps
Net Interest Margin4.71%4.62%4.45%4.42%3.42%-129 bps
Efficiency Ratio57.17%57.11%59.86%59.70%64.08%+692 bps
Non-Interest Burden2.32%2.27%2.36%2.31%2.00%-32 bps
Growth
Asset Growth (YoY)25.58%-0.50%0.99%1.31%12.00%-1,358 bps
Loan Growth (YoY)13.78%-4.44%-5.23%-10.25%-8.28%-2,206 bps
Deposit Growth (YoY)24.67%1.54%3.17%3.68%-1.79%-2,645 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.12%0.08%0.24%0.02%-9 bps
Allowance / Loans1.17%1.17%1.17%1.16%1.11%-6 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 Capital14.97%12.28%13.37%14.59%16.28%+130 bps
Equity / Assets10.11%8.94%9.12%9.62%22.49%+1,238 bps
Liquidity & Funding
Loans / Deposits70.19%69.13%66.82%64.83%65.55%-464 bps
Liquid Assets / Assets24.01%26.30%25.54%32.84%0.04%-2,397 bps
CRE / Total Capitaln/an/an/an/an/an/an/a