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First Union Direct Bank, N.A.

Augusta, GA · Cert 34483

FDIC

Q3 2004

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2004, the quarter ended September 30, 2004, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First Union Direct Bank, N.A.

Augusta, GA · Cert 34483

FDIC

Q3 2004

$6.1BAssets
$5.7BLoans
$501KDeposits
$1.1BEquity
Deposit mix
100%Interest-bearing $500K0%Noninterest $1KQ3 2003Q3 2004

NIM

1.89%Q3 ’021.27%Q3 ’030.93%Q3 ’04-42%-142%

Non-interest income vs. expense

0.10%Q3 ’020.02%Q3 ’030.02%Q3 ’04-451%+42%

Executive Summary

  • Earnings: ROA of -0.04%, down 34 bps year over year; NIM at -0.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 1146648.70% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

-0.04%-34 bps YoY

Net Interest Margin (YTD, annualized)

-0.16%-53 bps YoY

Efficiency Ratio (YTD, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.30%0.19%-0.09%-0.14%-0.04%-34 bps
Return on Equity1.08%0.75%-0.45%-0.74%-0.20%-128 bps
Net Interest Margin0.38%0.17%-0.27%-0.34%-0.16%-53 bps
Efficiency Ratio3.50%5.21%n/an/an/an/a
Non-Interest Burden-0.14%-0.07%-0.11%-0.09%-0.08%+6 bps
Growth
Asset Growth (YoY)69.84%55.85%39.44%39.64%-5.51%-7,535 bps
Loan Growth (YoY)75.13%801590%31.00%30.99%-5.48%-8,061 bps
Deposit Growth (YoY)-98.08%-6.38%-98.98%-99.12%-1.96%+9,613 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%-0.05%-0.01%-0.01%-0.01%+1 bps
Allowance / Loans0.00%0.00%0.00%0.00%0.00%0 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 Capital115.04%114.01%88.90%90.11%89.23%-2,581 bps
Equity / Assets20.87%20.71%17.92%18.11%18.00%-288 bps
Liquidity & Funding
Loans / Deposits1189427%419561%955744%989672%1146649%-4,277,811 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a