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Progressive Bank, National Association - Buckhannon

Buckhannon, WV · Cert 26765

FDIC

Q1 2003

$40.8MAssets
$24.3MLoans
$36.8MDeposits
$3.5MEquity
Loan mix
88%RE $10.9M11%C&I $1.4M0%Consumer $0.0MQ1 2002Q1 2003
Deposit mix
89%Interest-bearing $32.8M11%Noninterest $4.0MQ1 2002Q1 2003

NIM

7.07%Q1 ’016.15%Q1 ’025.29%Q1 ’03+7%-4%

Non-interest income vs. expense

2.34%Q1 ’012.42%Q1 ’022.38%Q1 ’03+1%+9%

Executive Summary

  • Earnings: ROA of 0.87%, down 4 bps year over year; NIM at 3.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 66.02% of deposits as of Q1 2003.

Financial Results

Return on Assets (quarter, annualized)

0.87%-4 bps YoY

Net Interest Margin (quarter, annualized)

3.28%-12 bps YoY

Efficiency Ratio (quarter, annualized)

67.13%+481 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets0.91%1.06%0.90%1.05%0.87%-4 bps
Return on Equity10.90%12.66%10.47%12.03%9.94%-96 bps
Net Interest Margin3.41%3.47%3.27%3.30%3.28%-12 bps
Efficiency Ratio62.32%57.67%63.64%63.78%67.13%+481 bps
Non-Interest Burden1.94%1.79%1.88%1.90%2.12%+18 bps
Growth
Asset Growth (YoY)11.29%9.18%7.22%8.69%8.40%-289 bps
Loan Growth (YoY)9.39%5.25%7.16%8.22%-2.06%-1,144 bps
Deposit Growth (YoY)10.87%8.24%6.16%7.95%7.96%-291 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.24%0.02%0.10%0.00%0 bps
Allowance / Loans1.33%1.39%1.48%1.53%1.64%+31 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 Capital13.59%13.87%14.05%14.51%14.87%+128 bps
Equity / Assets8.26%8.50%8.66%8.77%8.65%+39 bps
Liquidity & Funding
Loans / Deposits72.78%70.91%71.72%69.96%66.02%-676 bps
Liquid Assets / Assets2.24%1.91%1.03%0.59%2.15%-9 bps
CRE / Total Capitaln/an/an/an/an/an/an/a