PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Citizens Bank of Pennsylvania

Philadelphia, PA · Cert 57282

FDIC · 347 branches

Q4 2018

$33.8BAssets
$18.0BLoans
$29.7BDeposits
$3.7BEquity
Deposit mix
76%Interest-bearing $22.6B24%Noninterest $7.1BQ1 2017Q4 2018

Market Position · Philadelphia-Camden-Wilmington, PA-NJ-DE-MD · 2018 SOD (annual) · 3.8% share · #7 of 117 inst. · $18.5B of $486.3B

17.5% Philadelphia
5.7% Allegheny
12.5% Montgomery
16.0% Delaware

Executive Summary

  • Earnings: ROA of 1.22%, down 35 bps year over year; NIM at 2.70%.
  • Asset quality: problem loans at 0.74% of loans (-10 bps YoY), with net charge-offs at 0.11%.
  • Capital: tier 1 leverage ratio of 9.04%, up 30 bps from a year ago.
  • Funding: loans stand at 60.61% of deposits as of Q4 2018.

Return on Assets (quarter, annualized)

1.22%-35 bps YoY

Net Interest Margin (quarter, annualized)

2.70%+23 bps YoY

Efficiency Ratio (quarter, annualized)

56.07%-493 bps YoY

Tier 1 Leverage Ratio

9.04%+30 bps YoY

NIM

2.53%Q4 ’162.94%Q4 ’173.41%Q4 ’18+12%+9%

Non-interest income vs. expense

1.90%Q4 ’161.99%Q4 ’172.01%Q4 ’18-1%-6%

Discrete quarter, annualized.

MetricQ1 2017Q2 2017Q3 2017Q4 2017Q1 2018Q2 2018Q3 2018Q4 2018YoY ΔTrend
Earnings
Return on Assets0.63%0.68%0.78%1.56%0.94%1.07%1.00%1.22%-35 bps
Return on Equity6.21%6.60%7.37%14.73%9.02%10.57%9.88%11.55%-318 bps
Net Interest Margin2.30%2.42%2.53%2.48%2.51%2.49%2.59%2.70%+23 bps
Efficiency Ratio60.73%61.90%61.43%61.01%61.47%58.41%58.00%56.07%-493 bps
Non-Interest Burden1.12%1.20%1.26%1.21%1.28%1.13%1.16%1.13%-8 bps
Growth
Asset Growth (YoY)0.99%-1.31%-0.25%-3.59%-2.86%-0.20%-0.99%-5.12%-153 bps
Loan Growth (YoY)-7.98%-10.29%-10.57%-7.62%-8.56%-6.85%-4.18%-4.52%+310 bps
Deposit Growth (YoY)3.99%2.51%3.17%4.16%4.67%4.93%-0.33%-5.50%-966 bps
Asset Quality
Nonperforming Loans / Loans1.04%1.01%1.02%0.84%0.73%0.74%0.79%0.74%-10 bps
Net Charge-Offs / Loans0.46%0.19%0.11%0.14%0.14%0.12%0.29%0.11%-3 bps
Allowance / Loansn/an/an/an/an/an/an/an/an/an/a
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio8.45%8.68%8.81%8.74%8.64%8.53%8.75%9.04%+30 bps
Total Risk-Based Capital13.30%13.53%13.90%13.88%13.65%13.73%13.89%14.07%+20 bps
Equity / Assetsn/an/an/an/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits66.73%65.96%62.58%59.99%58.30%58.56%60.16%60.61%+62 bps
Liquid Assets / Assets7.95%7.90%7.65%7.40%7.18%6.98%6.83%6.91%-50 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a