PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

First Priority Bank

Malvern, PA · Cert 58092

FDIC · 8 branches

Q2 2018

$627.4MAssets
$525.4MLoans
$513.6MDeposits
$51.3MEquity
Loan mix
85%RE $388.8M14%C&I $64.7M1%Consumer $6.3MQ3 2016Q2 2018
Deposit mix
86%Interest-bearing $441.9M14%Noninterest $71.7MQ3 2016Q2 2018

Market Position · Philadelphia-Camden-Wilmington, PA-NJ-DE-MD · 2018 SOD (annual) · 0.1% share · #47 of 117 inst. · $0.3B of $486.3B

1.3% Berks
1.4% Chester
0.3% Bucks
0.2% Montgomery

Executive Summary

  • Earnings: ROA of 0.52%, down 1 bps year over year; NIM at 3.17%.
  • Asset quality: problem loans at 0.06% of loans (-6 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 8.14%, up 10 bps from a year ago.
  • Funding: loans stand at 102.31% of deposits as of Q2 2018.

Return on Assets (YTD, annualized)

0.52%-1 bps YoY

Net Interest Margin (YTD, annualized)

3.17%-1 bps YoY

Efficiency Ratio (YTD, annualized)

78.80%+440 bps YoY

Tier 1 Leverage Ratio

8.14%+10 bps YoY

NIM

4.09%Q2 ’164.09%Q2 ’174.30%Q2 ’18-2%0%

Non-interest income vs. expense

2.76%Q2 ’162.45%Q2 ’172.61%Q2 ’18-10%+5%

Year to date, annualized, through each quarter.

MetricQ3 2016Q4 2016Q1 2017Q2 2017Q3 2017Q4 2017Q1 2018Q2 2018YoY ΔTrend
Earnings
Return on Assets0.41%0.44%0.54%0.53%0.52%0.44%0.51%0.52%-1 bps
Return on Equity4.73%5.17%6.76%6.64%6.44%5.45%6.24%6.37%-27 bps
Net Interest Margin3.14%3.04%3.19%3.18%3.14%3.11%3.16%3.17%-1 bps
Efficiency Ratio81.33%79.40%74.58%74.40%75.46%75.66%79.05%78.80%+440 bps
Non-Interest Burden2.53%2.38%2.34%2.34%2.34%2.33%2.46%2.46%+13 bps
Growth
Asset Growth (YoY)12.45%9.37%17.76%19.84%6.99%2.05%2.02%3.36%-1,648 bps
Loan Growth (YoY)22.11%19.33%19.41%18.33%2.17%6.28%6.25%6.21%-1,213 bps
Deposit Growth (YoY)11.65%12.72%14.26%12.74%13.02%11.78%9.46%10.77%-197 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.15%0.12%0.16%0.17%0.12%0.06%-6 bps
Net Charge-Offs / Loans0.05%0.04%0.01%0.07%0.05%0.06%0.02%0.02%-6 bps
Allowance / Loans0.68%0.68%0.68%0.66%0.67%0.66%0.66%0.65%-2 bps
Allowance Coverage of NPLsn/an/a4.7x5.5x4.3x3.8x5.7x11.4x+5.9x
Capital
Tier 1 Leverage Ratio8.18%7.87%7.92%8.04%8.10%8.08%8.09%8.14%+10 bps
Total Risk-Based Capital12.04%12.07%12.23%12.31%12.47%12.15%12.49%12.30%-1 bps
Equity / Assets8.22%7.94%8.03%8.12%8.17%8.22%8.22%8.17%+5 bps
Liquidity & Funding
Loans / Deposits109.96%104.30%104.13%106.70%99.41%99.17%101.07%102.31%-439 bps
Liquid Assets / Assets7.11%3.52%9.66%7.49%6.99%3.50%7.09%8.10%+61 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a