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Letter portraitLegal landscapeQuarterYTD

First Union National Bank of Delaware

Wilmington, DE · Cert 33931

FDIC

Q4 2009

$4.1BAssets
$3.1BLoans
$2.7BDeposits
$721.3MEquity
Deposit mix
85%Interest-bearing $2.3B15%Noninterest $0.4BQ1 2008Q4 2009

Executive Summary

  • Earnings: ROA of 0.88%, up 88 bps year over year; NIM at 3.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.19%.
  • Funding: loans stand at 113.93% of deposits as of Q4 2009.

Return on Assets (YTD, annualized)

0.88%+88 bps YoY

Net Interest Margin (YTD, annualized)

3.27%+327 bps YoY

Efficiency Ratio (YTD, annualized)

20.36%

Tier 1 Leverage Ratio

n/a
n/a

NIM

4.33%Q4 ’070.00%Q4 ’083.96%Q4 ’09-100%

Non-interest income vs. expense

0.58%Q4 ’070.00%Q4 ’081.08%Q4 ’09+100%

Year to date, annualized, through each quarter.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets0.95%-2.49%-0.44%0.00%-1.31%0.09%0.43%0.88%+88 bps
Return on Equity9.47%-24.50%-4.47%0.00%-10.66%0.71%3.14%6.12%+612 bps
Net Interest Margin1.69%1.77%1.61%0.00%2.87%2.81%3.21%3.27%+327 bps
Efficiency Ratio26.66%27.31%29.88%n/a18.06%22.41%21.56%20.36%n/a
Non-Interest Burden-0.11%-0.07%-0.05%0.00%0.24%0.41%0.44%0.40%+40 bps
Growth
Asset Growth (YoY)66.65%32.70%60.82%13.16%3.55%13.57%-16.32%-24.55%-3,770 bps
Loan Growth (YoY)19.54%33.36%31.04%17.20%11.08%-5.93%-11.40%-1.64%-1,884 bps
Deposit Growth (YoY)82.69%60.09%77.25%10.43%-0.46%9.17%-30.14%-40.64%-5,107 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.35%0.30%1.27%0.00%2.24%2.52%2.41%2.19%+219 bps
Allowance / Loans1.43%5.14%2.57%3.53%4.73%4.06%3.77%2.82%-71 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital17.07%16.02%15.78%16.17%15.61%16.76%18.89%21.21%+503 bps
Equity / Assets10.08%10.52%9.28%11.96%12.70%14.46%16.14%17.66%+570 bps
Liquidity & Funding
Loans / Deposits69.96%94.60%78.34%68.76%78.07%81.51%99.36%113.93%+4,517 bps
Liquid Assets / Assets31.84%9.73%12.05%21.53%23.83%10.57%0.07%0.07%-2,146 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a