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Virginia Partners Bank

Fredericksburg, VA · Cert 58824

FDIC · 5 branches

Q3 2023

$637.2MAssets
$523.6MLoans
$544.9MDeposits
$54.5MEquity
Loan mix
85%RE $349.1M15%C&I $60.8M0%Consumer $1.8MQ4 2021Q3 2023
Deposit mix
63%Interest-bearing $345.6M37%Noninterest $199.3MQ4 2021Q3 2023

Market Position · Washington-Arlington-Alexandria, DC-VA-MD-WV · 2023 SOD (annual) · 0.2% share · #34 of 72 inst. · $0.5B of $296.0B

9.0% Fredericksburg (City)
7.0% Spotsylvania
0.1% Fairfax
2.8% Charles

Executive Summary

  • Earnings: ROA of 0.89%, up 10 bps year over year; NIM at 3.44%.
  • Asset quality: problem loans at 0.01% of loans (-6 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 9.50%, up 87 bps from a year ago.
  • Funding: loans stand at 96.08% of deposits as of Q3 2023.

Return on Assets (quarter, annualized)

0.89%+10 bps YoY

Net Interest Margin (quarter, annualized)

3.44%-4 bps YoY

Efficiency Ratio (quarter, annualized)

67.38%+262 bps YoY

Tier 1 Leverage Ratio

9.50%+87 bps YoY

NIM

3.88%Q3 ’213.78%Q3 ’224.93%Q3 ’23+4%-1%

Non-interest income vs. expense

2.85%Q3 ’212.46%Q3 ’222.49%Q3 ’23+6%+4%

Discrete quarter, annualized.

MetricQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023YoY ΔTrend
Earnings
Return on Assets0.19%0.25%0.75%0.80%0.94%0.81%0.69%0.89%+10 bps
Return on Equity2.02%2.97%9.52%10.11%11.33%9.27%7.82%10.39%+28 bps
Net Interest Margin3.02%2.88%3.05%3.47%3.96%3.61%3.43%3.44%-4 bps
Efficiency Ratio90.75%82.49%64.70%64.76%65.96%69.81%73.30%67.38%+262 bps
Non-Interest Burden2.73%2.37%1.89%2.20%2.55%2.48%2.50%2.29%+9 bps
Growth
Asset Growth (YoY)10.03%15.19%10.92%9.07%2.49%-7.09%-3.05%-4.37%-1,344 bps
Loan Growth (YoY)5.97%3.15%5.39%13.05%18.42%15.63%16.80%10.74%-231 bps
Deposit Growth (YoY)21.89%17.93%13.78%11.48%-4.64%-13.42%-9.54%-6.96%-1,843 bps
Asset Quality
Nonperforming Loans / Loans0.06%0.04%0.02%0.07%0.02%0.02%0.06%0.01%-6 bps
Net Charge-Offs / Loans0.00%0.00%0.07%-0.03%0.01%0.03%-0.02%-0.01%+2 bps
Allowance / Loans0.80%0.84%0.88%0.92%0.95%1.22%1.20%1.21%+29 bps
Allowance Coverage of NPLs12.6x19.8x40.2x13.4x48.6x80.0x20.9x132.1x+118.7x
Capital
Tier 1 Leverage Ratio8.45%8.13%8.07%8.62%8.94%9.46%9.49%9.50%+87 bps
Total Risk-Based Capital12.02%11.45%11.07%11.39%11.34%11.27%11.06%11.40%+1 bps
Equity / Assets9.09%8.02%7.78%7.99%8.66%8.90%8.65%8.56%+57 bps
Liquidity & Funding
Loans / Deposits77.10%73.86%76.87%80.73%95.75%98.64%99.26%96.08%+1,535 bps
Liquid Assets / Assets16.88%19.29%13.96%12.98%6.05%2.11%2.33%2.62%-1,036 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a