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Verity Bank

Winder, GA · Cert 58711

FDIC

Q1 2014

$165.2MAssets
$114.6MLoans
$144.1MDeposits
$20.6MEquity
Loan mix
89%RE $72.5M9%C&I $7.1M2%Consumer $1.7MQ1 2013Q1 2014
Deposit mix
91%Interest-bearing $130.5M9%Noninterest $13.6MQ1 2013Q1 2014

NIM

4.27%Q1 ’124.09%Q1 ’134.18%Q1 ’14+4%+4%

Non-interest income vs. expense

2.84%Q1 ’122.93%Q1 ’132.70%Q1 ’14+5%-6%

Executive Summary

  • Earnings: ROA of 0.72%, up 20 bps year over year; NIM at 3.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 79.52% of deposits as of Q1 2014.

Financial Results

Return on Assets (YTD, annualized)

0.72%+20 bps YoY

Net Interest Margin (YTD, annualized)

3.67%+13 bps YoY

Efficiency Ratio (YTD, annualized)

70.59%-729 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets0.51%0.55%0.55%0.41%0.72%+20 bps
Return on Equity4.44%4.69%4.75%3.46%5.74%+130 bps
Net Interest Margin3.54%3.55%3.45%3.50%3.67%+13 bps
Efficiency Ratio77.88%78.11%75.78%80.16%70.59%-729 bps
Non-Interest Burden2.71%2.73%2.55%2.76%2.55%-16 bps
Growth
Asset Growth (YoY)5.69%4.14%4.94%-6.04%-0.97%-666 bps
Loan Growth (YoY)8.90%2.91%0.19%2.55%-1.98%-1,087 bps
Deposit Growth (YoY)3.80%2.23%3.31%-5.37%0.40%-340 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.06%0.08%0.00%0 bps
Allowance / Loans1.48%1.48%1.47%1.56%1.54%+6 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital16.90%17.42%17.33%18.03%18.62%+173 bps
Equity / Assets11.87%11.72%11.53%12.46%12.50%+64 bps
Liquidity & Funding
Loans / Deposits81.46%78.71%77.24%81.22%79.52%-193 bps
Liquid Assets / Assets10.48%12.93%12.94%9.54%12.08%+160 bps
CRE / Total Capitaln/an/an/an/an/an/an/a