PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

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 $1KQ4 2002Q3 2004

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.

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
n/a

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%

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.40%0.37%0.35%0.30%0.19%-0.09%-0.14%-0.04%-34 bps
Return on Equity1.10%1.17%1.13%1.08%0.75%-0.45%-0.74%-0.20%-128 bps
Net Interest Margin0.55%0.30%0.37%0.38%0.17%-0.27%-0.34%-0.16%-53 bps
Efficiency Ratio5.95%3.86%3.27%3.50%5.21%n/an/an/an/a
Non-Interest Burden-0.02%-0.28%-0.18%-0.14%-0.07%-0.11%-0.09%-0.08%+6 bps
Growth
Asset Growth (YoY)8.12%13.10%19.64%69.84%55.85%39.44%39.64%-5.51%-7,535 bps
Loan Growth (YoY)0.75%13.70%20.19%75.13%801590%31.00%30.99%-5.48%-8,061 bps
Deposit Growth (YoY)-24.17%7572%7536%-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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-582%-0.02%-0.02%-0.02%-0.05%-0.01%-0.01%-0.01%+1 bps
Allowance / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 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 Capital177.24%169.61%169.16%115.04%114.01%88.90%90.11%89.23%-2,581 bps
Equity / Assets32.03%30.71%30.71%20.87%20.71%17.92%18.11%18.00%-288 bps
Liquidity & Funding
Loans / Deposits49.00%7474%6613%1189427%419561%955744%989672%1146649%-4,277,811 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a