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Suffolkfirst Bank

Suffolk, VA · Cert 57487

FDIC · 8 branches

Q2 2016

$1.1BAssets
$821.4MLoans
$917.7MDeposits
$126.4MEquity
Loan mix
49%RE $303.5M41%C&I $253.5M10%Consumer $62.0MQ3 2014Q2 2016
Deposit mix
81%Interest-bearing $744.9M19%Noninterest $172.8MQ3 2014Q2 2016

Market Position · Richmond, VA · 2016 SOD (annual) · 0.5% share · #10 of 36 inst. · $0.5B of $96.8B

2.6% Richmond (City)
0.3% Fairfax
16.0% Suffolk (City)
20.0% Gloucester

Executive Summary

  • Earnings: ROA of 0.43%, up 4 bps year over year; NIM at 2.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Capital: tier 1 leverage ratio of 10.42%, down 22 bps from a year ago.
  • Funding: loans stand at 89.51% of deposits as of Q2 2016.

Return on Assets (quarter, annualized)

0.43%+4 bps YoY

Net Interest Margin (quarter, annualized)

2.98%-9 bps YoY

Efficiency Ratio (quarter, annualized)

79.28%+684 bps YoY

Tier 1 Leverage Ratio

10.42%-22 bps YoY

NIM

3.70%Q2 ’143.58%Q2 ’153.54%Q2 ’16-3%-3%

Non-interest income vs. expense

3.03%Q2 ’142.35%Q2 ’152.46%Q2 ’16-25%+7%

Discrete quarter, annualized.

MetricQ3 2014Q4 2014Q1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016YoY ΔTrend
Earnings
Return on Assets0.35%0.31%0.45%0.39%0.47%0.68%0.23%0.43%+4 bps
Return on Equity2.90%2.47%3.69%3.31%3.97%5.76%1.91%3.58%+26 bps
Net Interest Margin3.60%3.13%3.19%3.06%3.12%3.26%3.03%2.98%-9 bps
Efficiency Ratio67.30%79.96%72.55%72.43%73.64%62.59%81.71%79.28%+684 bps
Non-Interest Burden2.42%2.52%2.29%2.19%2.30%1.99%2.46%2.35%+16 bps
Growth
Asset Growth (YoY)49.93%34.75%44.95%29.13%7.10%13.59%3.17%7.94%-2,119 bps
Loan Growth (YoY)57.83%38.59%34.29%27.53%2.17%3.82%2.87%6.96%-2,057 bps
Deposit Growth (YoY)54.60%35.79%47.98%29.16%7.61%15.08%3.44%8.27%-2,089 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 / Loans1.03%0.09%0.17%0.10%0.08%0.37%0.22%0.06%-4 bps
Allowance / Loans0.75%0.83%0.85%0.89%0.93%0.94%0.91%0.87%-2 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/a11.04%10.64%10.53%10.28%10.24%10.42%-22 bps
Total Risk-Based Capital13.27%13.00%13.02%12.98%13.03%12.74%12.60%12.30%-68 bps
Equity / Assets12.57%12.53%11.69%11.68%12.17%11.58%12.08%11.80%+12 bps
Liquidity & Funding
Loans / Deposits97.11%97.15%89.80%90.61%92.20%87.64%89.31%89.51%-110 bps
Liquid Assets / Assets2.34%1.71%2.46%4.58%2.30%3.45%2.72%2.68%-190 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a