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Virginia Commonwealth Bank

Petersburg, VA · Cert 29742

FDIC · 7 branches

Q1 2017

$326.5MAssets
$274.8MLoans
$266.1MDeposits
$35.1MEquity
Loan mix
61%RE $116.2M19%C&I $36.2M20%Consumer $38.4MQ1 2016Q1 2017
Deposit mix
93%Interest-bearing $247.1M7%Noninterest $19.0MQ1 2016Q1 2017

NIM

3.63%Q1 ’153.74%Q1 ’163.84%Q1 ’17+1%+1%

Non-interest income vs. expense

2.66%Q1 ’152.52%Q1 ’162.76%Q1 ’17-11%+9%

Market Position · Richmond, VA · 2016 SOD (annual) · 0.2% share · #16 of 36 inst. · $0.2B of $96.8B

1.6% Chesterfield
14.1% Petersburg (City)
6.9% Colonial Heights (City)
0.0% Henrico

Executive Summary

  • Earnings: ROA of 0.44%, down 15 bps year over year; NIM at 3.28%.
  • Asset quality: problem loans at 0.40% of loans (+40 bps YoY), with net charge-offs at 0.38%.
  • Capital: tier 1 leverage ratio of 10.93%, up 50 bps from a year ago.
  • Funding: loans stand at 103.28% of deposits as of Q1 2017.

Financial Results

Return on Assets (YTD, annualized)

0.44%-15 bps YoY

Net Interest Margin (YTD, annualized)

3.28%+4 bps YoY

Efficiency Ratio (YTD, annualized)

75.45%+457 bps YoY

Tier 1 Leverage Ratio

10.93%+50 bps YoY

Year to date, annualized, through each quarter.

MetricQ1 2016Q2 2016Q3 2016Q4 2016Q1 2017YoY ΔTrend
Earnings
Return on Assets0.59%0.61%0.62%0.57%0.44%-15 bps
Return on Equity5.69%5.78%5.84%5.27%4.09%-160 bps
Net Interest Margin3.25%3.20%3.24%3.22%3.28%+4 bps
Efficiency Ratio70.88%70.05%70.04%75.30%75.45%+457 bps
Non-Interest Burden2.19%2.15%2.18%2.37%2.38%+19 bps
Growth
Asset Growth (YoY)11.09%14.62%7.18%-2.09%-0.28%-1,137 bps
Loan Growth (YoY)30.24%31.34%13.43%7.78%-0.41%-3,066 bps
Deposit Growth (YoY)6.76%7.30%7.77%8.39%9.37%+261 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.40%+40 bps
Net Charge-Offs / Loans0.20%0.26%0.28%0.30%0.38%+18 bps
Allowance / Loans1.17%1.15%1.16%0.95%0.86%-31 bps
Allowance Coverage of NPLsn/an/an/an/a2.2xn/an/a
Capital
Tier 1 Leverage Ratio10.43%10.17%10.41%10.74%10.93%+50 bps
Total Risk-Based Capital13.48%13.11%13.83%14.35%13.78%+30 bps
Equity / Assets10.51%10.76%10.99%11.01%10.75%+25 bps
Liquidity & Funding
Loans / Deposits113.43%111.47%102.95%103.38%103.28%-1,015 bps
Liquid Assets / Assets1.60%2.15%6.01%3.88%3.35%+175 bps
CRE / Total Capitaln/an/an/an/an/an/an/a