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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

6.33%Q4 ’056.66%Q4 ’066.18%Q4 ’07-6%-27%

Non-interest income vs. expense

2.18%Q4 ’052.90%Q4 ’062.80%Q4 ’07-21%+62%

Executive Summary

  • Earnings: ROA of -0.37%, down 139 bps year over year; NIM at 2.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.36%.
  • Funding: loans stand at 144.50% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.37%-139 bps YoY

Net Interest Margin (quarter, annualized)

2.23%-82 bps YoY

Efficiency Ratio (quarter, annualized)

106.67%+4,211 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.02%-0.26%-0.15%-2.28%-0.37%-139 bps
Return on Equity6.29%-1.60%-0.89%-14.39%-2.33%-862 bps
Net Interest Margin3.05%2.54%2.53%2.37%2.23%-82 bps
Efficiency Ratio64.57%110.23%103.83%195.61%106.67%+4,211 bps
Non-Interest Burden1.49%2.96%2.68%5.72%2.42%+93 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 / Loans0.10%-0.01%0.11%0.02%0.36%+26 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