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Resource Bank

Virginia Beach, VA · Cert 27322

FDIC

Q4 2007

$1.5BAssets
$1.1BLoans
$765.5MDeposits
$238.1MEquity
Loan mix
89%RE $854.0M11%C&I $100.6M0%Consumer $0.6MQ4 2006Q4 2007
Deposit mix
98%Interest-bearing $748.9M2%Noninterest $16.7MQ4 2006Q4 2007

NIM

5.59%Q4 ’056.33%Q4 ’066.23%Q4 ’07-8%-19%

Non-interest income vs. expense

2.99%Q4 ’052.92%Q4 ’064.31%Q4 ’07+26%+110%

Executive Summary

  • Earnings: ROA of -0.77%, down 166 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 0.12%.
  • Funding: loans stand at 144.50% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

-0.77%-166 bps YoY

Net Interest Margin (YTD, annualized)

2.35%-55 bps YoY

Efficiency Ratio (YTD, annualized)

130.14%+6,144 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.90%-0.26%-0.20%-0.90%-0.77%-166 bps
Return on Equity5.43%-1.60%-1.25%-5.59%-4.76%-1,019 bps
Net Interest Margin2.89%2.54%2.54%2.42%2.35%-55 bps
Efficiency Ratio68.70%110.23%107.19%135.91%130.14%+6,144 bps
Non-Interest Burden1.60%2.96%2.82%3.72%3.36%+176 bps
Growth
Asset Growth (YoY)8.72%5.16%0.64%2.58%3.43%-529 bps
Loan Growth (YoY)8.01%5.47%-0.77%1.18%3.42%-458 bps
Deposit Growth (YoY)2.55%-2.00%-12.35%-7.45%-8.02%-1,057 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%-0.01%0.05%0.04%0.12%+9 bps
Allowance / Loans0.68%0.72%0.71%0.76%0.79%+11 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 Capital11.18%11.19%10.59%10.00%10.74%-44 bps
Equity / Assets16.27%16.67%16.16%15.58%15.87%-40 bps
Liquidity & Funding
Loans / Deposits128.52%129.58%134.70%133.98%144.50%+1,599 bps
Liquid Assets / Assets0.18%0.24%0.20%0.03%0.07%-11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a