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Vbank, A Savings Bank

Philadelphia, PA · Cert 27148

FDIC

Q3 2012

$444.7MAssets
$271.6MLoans
$395.2MDeposits
$2.2MEquity
Loan mix
79%RE $161.7M20%C&I $41.9M1%Consumer $1.4MQ3 2011Q3 2012
Deposit mix
89%Interest-bearing $352.3M11%Noninterest $42.9MQ3 2011Q3 2012

NIM

4.88%Q3 ’104.55%Q3 ’113.97%Q3 ’12-4%-9%

Non-interest income vs. expense

2.67%Q3 ’103.41%Q3 ’113.59%Q3 ’12+7%+2%

Executive Summary

  • Earnings: ROA of -1.94%, up 107 bps year over year; NIM at 2.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.65%.
  • Funding: loans stand at 68.72% of deposits as of Q3 2012.

Financial Results

Return on Assets (quarter, annualized)

-1.94%+107 bps YoY

Net Interest Margin (quarter, annualized)

2.35%-24 bps YoY

Efficiency Ratio (quarter, annualized)

114.44%+990 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2011Q4 2011Q1 2012Q2 2012Q3 2012YoY ΔTrend
Earnings
Return on Assets-3.01%-3.18%0.09%-4.24%-1.94%+107 bps
Return on Equity-106.48%-149.69%4.87%-312%-301%-19,432 bps
Net Interest Margin2.59%2.41%2.56%2.46%2.35%-24 bps
Efficiency Ratio104.54%106.23%94.09%96.71%114.44%+990 bps
Non-Interest Burden2.73%5.78%2.35%2.35%2.80%+7 bps
Growth
Asset Growth (YoY)-14.57%-14.85%-15.36%-11.96%-18.20%-362 bps
Loan Growth (YoY)-15.59%-15.93%-15.54%-16.77%-19.67%-408 bps
Deposit Growth (YoY)-12.03%-12.30%-13.75%-8.31%-16.41%-437 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.00%1.36%1.91%8.35%4.65%+65 bps
Allowance / Loans2.97%2.78%2.44%2.27%2.28%-69 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 Capital4.58%4.45%4.54%3.30%2.77%-180 bps
Equity / Assets2.53%1.72%1.93%0.78%0.50%-203 bps
Liquidity & Funding
Loans / Deposits71.51%68.95%70.78%67.60%68.72%-279 bps
Liquid Assets / Assets12.95%13.02%9.59%2.49%10.35%-259 bps
CRE / Total Capitaln/an/an/an/an/an/an/a