PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

First Choice Bank

Lawrenceville, NJ · Cert 58471

FDIC · 8 branches

Q3 2016

$1.1BAssets
$584.5MLoans
$885.2MDeposits
$112.9MEquity
Loan mix
91%RE $376.4M6%C&I $26.7M2%Consumer $8.6MQ4 2014Q3 2016
Deposit mix
94%Interest-bearing $836.1M6%Noninterest $49.1MQ4 2014Q3 2016

Market Position · Trenton, NJ · 2016 SOD (annual) · 4.5% share · #8 of 27 inst. · $0.7B of $15.5B

4.5% Mercer
0.9% Somerset
0.2% Montgomery
0.1% Bucks

Executive Summary

  • Earnings: ROA of 1.08%, up 67 bps year over year; NIM at 2.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Capital: tier 1 leverage ratio of 9.85%, up 92 bps from a year ago.
  • Funding: loans stand at 66.04% of deposits as of Q3 2016.

Return on Assets (YTD, annualized)

1.08%+67 bps YoY

Net Interest Margin (YTD, annualized)

2.41%-5 bps YoY

Efficiency Ratio (YTD, annualized)

83.20%-289 bps YoY

Tier 1 Leverage Ratio

9.85%+92 bps YoY

NIM

3.18%Q3 ’143.24%Q3 ’153.17%Q3 ’16+4%-2%

Non-interest income vs. expense

6.32%Q3 ’148.16%Q3 ’158.51%Q3 ’16+40%-39%

Year to date, annualized, through each quarter.

MetricQ4 2014Q1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016Q3 2016YoY ΔTrend
Earnings
Return on Assets0.26%0.41%0.38%0.42%0.20%0.32%1.05%1.08%+67 bps
Return on Equity3.02%4.78%4.46%4.82%2.29%3.57%11.10%11.25%+643 bps
Net Interest Margin2.23%2.34%2.38%2.46%2.51%2.38%2.34%2.41%-5 bps
Efficiency Ratio79.79%85.92%86.29%86.09%91.35%88.54%82.74%83.20%-289 bps
Non-Interest Burden0.85%1.06%1.08%1.15%1.75%1.46%0.70%0.70%-45 bps
Growth
Asset Growth (YoY)28.44%15.63%8.99%0.14%-6.41%-4.71%-8.62%-4.50%-464 bps
Loan Growth (YoY)19.09%4.35%2.77%-1.32%-12.01%-7.27%-7.95%3.04%+436 bps
Deposit Growth (YoY)13.71%8.91%3.76%2.51%-1.59%-3.19%-5.74%-5.55%-806 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 / Loans0.99%1.28%1.50%1.55%1.25%0.62%0.08%-0.04%-159 bps
Allowance / Loans2.33%2.43%2.18%2.31%2.38%2.43%2.45%2.47%+16 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/a8.50%8.62%8.93%9.03%9.08%9.43%9.85%+92 bps
Total Risk-Based Capital18.25%17.07%16.84%18.01%18.60%18.10%18.64%19.16%+115 bps
Equity / Assets8.41%8.66%8.48%8.98%9.05%9.08%10.14%10.21%+124 bps
Liquidity & Funding
Loans / Deposits66.92%62.75%67.14%60.53%59.84%60.11%65.56%66.04%+551 bps
Liquid Assets / Assets34.05%34.24%33.35%35.41%38.39%36.35%3.22%0.97%-3,443 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a