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Vigilant Federal Savings Bank

Baltimore, MD · Cert 32547

FDIC

Q1 2013

$49.0MAssets
$28.0MLoans
$41.4MDeposits
$4.0MEquity
Loan mix
98%RE $26.0M2%C&I $0.6M0%Consumer $0.0MQ1 2012Q1 2013
Deposit mix
94%Interest-bearing $38.9M6%Noninterest $2.5MQ1 2012Q1 2013

NIM

4.80%Q1 ’124.60%Q1 ’13+12%

Non-interest income vs. expense

2.50%Q1 ’123.68%Q1 ’13+49%

Executive Summary

  • Earnings: ROA of 0.33%, down 31 bps year over year; NIM at 3.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.77%.
  • Funding: loans stand at 67.53% of deposits as of Q1 2013.

Financial Results

Return on Assets (quarter, annualized)

0.33%-31 bps YoY

Net Interest Margin (quarter, annualized)

3.83%+40 bps YoY

Efficiency Ratio (quarter, annualized)

91.31%+2,178 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2012Q2 2012Q3 2012Q4 2012Q1 2013YoY ΔTrend
Earnings
Return on Assets0.64%-0.03%-0.33%0.69%0.33%-31 bps
Return on Equityn/a-0.41%-4.53%8.80%4.03%n/a
Net Interest Margin3.42%3.00%3.70%3.81%3.83%+40 bps
Efficiency Ratio69.53%103.33%86.11%76.10%91.31%+2,178 bps
Non-Interest Burden2.33%3.11%3.16%2.86%3.48%+115 bps
Growth
Asset Growth (YoY)1.62%-0.25%-10.76%-15.00%-14.43%-1,605 bps
Loan Growth (YoY)-3.17%-6.34%-6.43%-10.06%-11.59%-843 bps
Deposit Growth (YoY)1.44%0.95%-2.87%-8.30%-7.65%-910 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.71%0.01%0.50%0.90%0.77%+6 bps
Allowance / Loans1.17%1.18%1.58%1.44%1.22%+5 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 Capital19.25%18.47%19.43%21.25%21.88%+263 bps
Equity / Assets6.83%6.86%7.60%8.11%8.14%+131 bps
Liquidity & Funding
Loans / Deposits70.54%68.99%70.06%69.33%67.53%-301 bps
Liquid Assets / Assets38.35%39.91%33.84%34.85%36.41%-194 bps
CRE / Total Capitaln/an/an/an/an/an/an/a