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Citizens National Bank

Windsor, VA · Cert 57320

FDIC · 1 branch

Q1 2018

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: Q1 2018, the quarter ended March 31, 2018, 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

Citizens National Bank

Windsor, VA · Cert 57320

FDIC · 1 branch

Q1 2018

$49.8MAssets
$43.5MLoans
$43.8MDeposits
$5.7MEquity
Loan mix
85%RE $31.3M14%C&I $5.2M1%Consumer $0.5MQ1 2017Q1 2018
Deposit mix
86%Interest-bearing $37.4M14%Noninterest $6.3MQ1 2017Q1 2018

NIM

4.98%Q1 ’165.14%Q1 ’175.33%Q1 ’18+6%+1%

Non-interest income vs. expense

4.08%Q1 ’164.49%Q1 ’1719.46%Q1 ’18+9%+347%

Market Position · Virginia Beach-Norfolk-Newport News, VA-NC · 2017 SOD (annual) · 0.2% share · #17 of 25 inst. · $0.0B of $24.9B

Executive Summary

  • Earnings: ROA of -11.90%, down 1,199 bps year over year; NIM at 4.57%.
  • Asset quality: problem loans at 0.00% of loans (-40 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 9.90%, down 506 bps from a year ago.
  • Funding: loans stand at 99.40% of deposits as of Q1 2018.

Financial Results

Return on Assets (YTD, annualized)

-11.90%-1,199 bps YoY

Net Interest Margin (YTD, annualized)

4.57%+6 bps YoY

Efficiency Ratio (YTD, annualized)

413%+31,612 bps YoY

Tier 1 Leverage Ratio

9.90%-506 bps YoY

Year to date, annualized, through each quarter.

MetricQ1 2017Q2 2017Q3 2017Q4 2017Q1 2018YoY ΔTrend
Earnings
Return on Assets0.10%0.07%0.09%-1.18%-11.90%-1,199 bps
Return on Equity0.61%0.46%0.59%-7.62%-92.87%-9,348 bps
Net Interest Margin4.51%4.73%4.73%4.61%4.57%+6 bps
Efficiency Ratio96.89%97.73%96.73%111.30%413%+31,612 bps
Non-Interest Burden4.31%4.56%4.51%5.11%19.25%+1,494 bps
Growth
Asset Growth (YoY)-7.11%-9.72%-3.80%1.51%-0.46%+665 bps
Loan Growth (YoY)-1.16%1.66%4.19%14.55%8.31%+947 bps
Deposit Growth (YoY)-10.05%-12.85%-6.22%3.04%4.31%+1,437 bps
Asset Quality
Nonperforming Loans / Loans0.40%0.39%0.37%0.00%0.00%-40 bps
Net Charge-Offs / Loans-0.01%0.09%0.05%0.04%-0.03%-2 bps
Allowance / Loans1.64%1.54%1.49%1.47%1.53%-11 bps
Allowance Coverage of NPLs4.1x3.9x4.0xn/an/an/a
Capital
Tier 1 Leverage Ratio14.97%15.38%15.22%13.88%9.90%-506 bps
Total Risk-Based Capital18.99%18.72%17.96%16.35%12.77%-621 bps
Equity / Assets15.73%16.49%15.80%14.07%11.51%-422 bps
Liquidity & Funding
Loans / Deposits95.73%104.07%103.24%102.12%99.40%+367 bps
Liquid Assets / Assets1.00%0.52%0.50%0.48%0.50%-50 bps
CRE / Total Capitaln/an/an/an/an/an/an/a