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Virgin Islands Community Bank

Christiansted, VI · Cert 33964

FDIC

Q4 2007

$58.1MAssets
$21.1MLoans
$57.3MDeposits
$649KEquity
Deposit mix
63%Interest-bearing $36.2M37%Noninterest $21.1MQ4 2006Q4 2007

NIM

5.38%Q4 ’056.18%Q4 ’066.20%Q4 ’07+17%+0%

Non-interest income vs. expense

5.18%Q4 ’055.55%Q4 ’066.61%Q4 ’07+8%+21%

Executive Summary

  • Earnings: ROA of -6.31%, down 683 bps year over year; NIM at 5.49%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 19.06%.
  • Funding: loans stand at 36.79% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

-6.31%-683 bps YoY

Net Interest Margin (YTD, annualized)

5.49%0 bps YoY

Efficiency Ratio (YTD, annualized)

102.77%+1,573 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.52%0.52%0.46%-8.04%-6.31%-683 bps
Return on Equity8.81%7.49%6.77%-157.32%-143.36%-15,217 bps
Net Interest Margin5.48%4.99%5.04%5.24%5.49%0 bps
Efficiency Ratio87.05%89.96%90.75%101.28%102.77%+1,573 bps
Non-Interest Burden4.67%4.39%4.48%5.32%5.67%+100 bps
Growth
Asset Growth (YoY)-2.01%-12.68%-16.53%-11.14%-17.15%-1,514 bps
Loan Growth (YoY)-8.03%-5.60%-5.66%1.08%-0.41%+762 bps
Deposit Growth (YoY)-2.36%-14.45%-17.04%-6.54%-12.29%-993 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.21%0.10%24.96%19.06%+1,889 bps
Allowance / Loans1.23%1.19%1.20%0.98%1.15%-9 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 Capital27.95%29.02%25.37%8.26%8.58%-1,937 bps
Equity / Assets6.68%7.26%6.24%0.00%1.12%-556 bps
Liquidity & Funding
Loans / Deposits32.40%33.56%33.17%34.93%36.79%+439 bps
Liquid Assets / Assets0.62%3.97%3.98%2.14%2.69%+207 bps
CRE / Total Capitaln/an/an/an/an/an/an/a