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Atlantic Bank

Ocean City, MD · Cert 21641

FDIC

Q3 2003

$294.8MAssets
$129.3MLoans
$212.6MDeposits
$69.3MEquity
Loan mix
88%RE $42.0M11%C&I $5.1M1%Consumer $0.5MQ3 2002Q3 2003
Deposit mix
92%Interest-bearing $195.1M8%Noninterest $17.5MQ3 2002Q3 2003

NIM

6.25%Q3 ’015.76%Q3 ’023.31%Q3 ’03+16%-35%

Non-interest income vs. expense

4.28%Q3 ’014.18%Q3 ’023.21%Q3 ’03-7%-27%

Executive Summary

  • Earnings: ROA of 0.28%, down 48 bps year over year; NIM at 2.77%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.12%.
  • Funding: loans stand at 60.80% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.28%-48 bps YoY

Net Interest Margin (quarter, annualized)

2.77%-153 bps YoY

Efficiency Ratio (quarter, annualized)

84.95%+2,205 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.76%0.85%0.68%0.52%0.28%-48 bps
Return on Equity6.21%6.89%5.38%4.10%1.50%-471 bps
Net Interest Margin4.30%4.31%4.07%3.89%2.77%-153 bps
Efficiency Ratio62.90%62.13%68.54%70.20%84.95%+2,205 bps
Non-Interest Burden3.00%2.95%3.19%3.14%2.21%-80 bps
Growth
Asset Growth (YoY)5.69%-1.67%-0.36%0.27%16.78%+1,109 bps
Loan Growth (YoY)-5.00%-7.04%-9.25%-10.27%-8.53%-353 bps
Deposit Growth (YoY)6.92%-3.54%-1.47%2.58%0.16%-676 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.14%0.03%-0.01%0.12%+6 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 Capital13.49%13.72%15.18%15.47%34.74%+2,126 bps
Equity / Assets12.06%12.71%12.77%12.35%23.52%+1,147 bps
Liquidity & Funding
Loans / Deposits66.58%72.37%65.94%61.57%60.80%-578 bps
Liquid Assets / Assets21.70%22.39%25.74%28.27%0.00%-2,170 bps
CRE / Total Capitaln/an/an/an/an/an/an/a