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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 ’016.05%Q3 ’022.92%Q3 ’03+3%-48%

Non-interest income vs. expense

3.92%Q3 ’013.71%Q3 ’023.04%Q3 ’03-6%-19%

Executive Summary

  • Earnings: ROA of 0.47%, down 107 bps year over year; NIM at 2.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.43%.
  • Funding: loans stand at 65.55% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.47%-107 bps YoY

Net Interest Margin (quarter, annualized)

2.41%-223 bps YoY

Efficiency Ratio (quarter, annualized)

76.64%+1,846 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.54%1.51%1.32%1.35%0.47%-107 bps
Return on Equity15.40%15.90%14.65%14.40%2.87%-1,253 bps
Net Interest Margin4.65%4.57%4.45%4.41%2.41%-223 bps
Efficiency Ratio58.18%56.96%59.86%59.54%76.64%+1,846 bps
Non-Interest Burden2.34%2.22%2.36%2.27%1.90%-44 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%0.16%0.08%0.39%-0.43%-53 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