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Delaware National Bank

Georgetown, DE · Cert 22837

FDIC

Q3 2010

$472.0MAssets
$342.2MLoans
$361.1MDeposits
$46.0MEquity
Loan mix
94%RE $263.5M5%C&I $14.5M0%Consumer $1.3MQ3 2009Q3 2010
Deposit mix
82%Interest-bearing $294.7M18%Noninterest $66.4MQ3 2009Q3 2010

NIM

5.61%Q3 ’084.61%Q3 ’094.63%Q3 ’10-22%+29%

Non-interest income vs. expense

2.55%Q3 ’082.57%Q3 ’092.84%Q3 ’10+11%+8%

Executive Summary

  • Earnings: ROA of 1.13%, up 72 bps year over year; NIM at 3.52%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.01%.
  • Funding: loans stand at 94.75% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

1.13%+72 bps YoY

Net Interest Margin (quarter, annualized)

3.52%+78 bps YoY

Efficiency Ratio (quarter, annualized)

59.01%-737 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.41%0.69%0.54%1.13%1.13%+72 bps
Return on Equity5.09%8.25%6.01%11.86%11.62%+653 bps
Net Interest Margin2.74%2.97%3.23%3.55%3.52%+78 bps
Efficiency Ratio66.38%61.81%61.02%56.59%59.01%-737 bps
Non-Interest Burden1.52%1.49%1.64%1.56%1.65%+13 bps
Growth
Asset Growth (YoY)4.60%3.77%-7.02%-8.48%-7.58%-1,218 bps
Loan Growth (YoY)-3.03%-6.02%-4.95%-4.54%-0.09%+294 bps
Deposit Growth (YoY)27.50%9.80%-1.36%-3.65%-2.74%-3,024 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.85%0.58%0.21%0.36%4.01%+316 bps
Allowance / Loans2.55%2.65%2.86%2.85%1.96%-59 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 Capital11.34%11.92%12.44%12.87%12.87%+152 bps
Equity / Assets8.11%8.62%9.26%9.71%9.76%+165 bps
Liquidity & Funding
Loans / Deposits92.24%96.31%94.91%94.32%94.75%+251 bps
Liquid Assets / Assets0.08%0.10%0.02%0.11%0.05%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a