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First Colonial Bank

Hopewell, VA · Cert 31748

FDIC

Q3 2001

$183.8MAssets
$121.6MLoans
$130.3MDeposits
$35.1MEquity
Loan mix
84%RE $68.6M16%C&I $12.7M0%Consumer $0.0MQ3 2000Q3 2001
Deposit mix
90%Interest-bearing $116.9M10%Noninterest $13.3MQ3 2000Q3 2001

NIM

8.33%Q1 ’018.46%Q2 ’01-7.71%Q3 ’01+11%-180%

Non-interest income vs. expense

3.00%Q1 ’013.28%Q2 ’01-2.76%Q3 ’01+8%-184%

Executive Summary

  • Earnings: ROA of -1.07%, down 226 bps year over year; NIM at -3.64%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.58%.
  • Funding: loans stand at 93.39% of deposits as of Q3 2001.

Financial Results

Return on Assets (quarter, annualized)

-1.07%-226 bps YoY

Net Interest Margin (quarter, annualized)

-3.64%

Efficiency Ratio (quarter, annualized)

58.91%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2000Q4 2000Q1 2001Q2 2001Q3 2001YoY ΔTrend
Earnings
Return on Assets1.19%1.18%1.18%1.24%-1.07%-226 bps
Return on Equityn/an/an/a13.32%-7.37%n/a
Net Interest Marginn/an/a4.14%4.58%-3.64%n/a
Efficiency Ration/an/a61.60%60.65%58.91%n/a
Non-Interest Burdenn/an/a2.27%2.45%-2.07%n/a
Growth
Asset Growth (YoY)-0.97%2.78%11.50%7.04%14.28%+1,525 bps
Loan Growth (YoY)0.92%4.57%9.47%4.54%1.40%+49 bps
Deposit Growth (YoY)-7.51%-2.89%2.05%2.49%-3.85%+367 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/an/a0.04%0.66%-0.58%n/a
Allowance / Loansn/an/a1.61%1.54%1.62%n/a
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 Capitaln/an/a15.49%16.29%17.89%n/a
Equity / Assetsn/an/a9.15%9.54%19.12%n/a
Liquidity & Funding
Loans / Deposits88.55%90.19%89.89%90.00%93.39%+484 bps
Liquid Assets / Assets0.00%0.00%4.48%2.99%17.86%+1,786 bps
CRE / Total Capitaln/an/an/an/an/an/an/a