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First Virginia Bank - Southwest

Roanoke, VA · Cert 20877

FDIC

Q3 2003

$1.5BAssets
$695.2MLoans
$1.0BDeposits
$379.9MEquity
Loan mix
90%RE $349.5M9%C&I $33.0M1%Consumer $4.8MQ3 2002Q3 2003
Deposit mix
81%Interest-bearing $842.8M19%Noninterest $192.1MQ3 2002Q3 2003

NIM

7.15%Q3 ’016.37%Q3 ’021.18%Q3 ’03+5%-78%

Non-interest income vs. expense

3.36%Q3 ’013.27%Q3 ’021.00%Q3 ’03-4%-69%

Executive Summary

  • Earnings: ROA of 0.22%, down 105 bps year over year; NIM at 0.95%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 67.18% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

0.22%-105 bps YoY

Net Interest Margin (YTD, annualized)

0.95%-344 bps YoY

Efficiency Ratio (YTD, annualized)

73.26%+1,199 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 Assets1.27%1.28%1.21%1.23%0.22%-105 bps
Return on Equity19.37%19.62%18.87%18.71%1.95%-1,741 bps
Net Interest Margin4.40%4.37%4.09%4.05%0.95%-344 bps
Efficiency Ratio61.27%61.23%61.79%61.81%73.26%+1,199 bps
Non-Interest Burden2.38%2.35%2.22%2.19%0.73%-164 bps
Growth
Asset Growth (YoY)2.12%0.92%1.83%1.33%4.50%+238 bps
Loan Growth (YoY)-3.58%-6.82%-7.27%-8.16%-19.15%-1,557 bps
Deposit Growth (YoY)1.51%-0.63%0.26%0.72%-15.91%-1,742 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.17%0.05%0.07%0.03%-16 bps
Allowance / Loans1.11%1.11%1.11%1.11%1.11%0 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 Capital13.04%12.10%12.60%13.69%16.88%+384 bps
Equity / Assets7.14%6.33%6.50%6.86%25.60%+1,846 bps
Liquidity & Funding
Loans / Deposits69.88%67.94%66.90%64.94%67.18%-270 bps
Liquid Assets / Assets26.50%28.20%29.70%33.39%0.00%-2,650 bps
CRE / Total Capitaln/an/an/an/an/an/an/a