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Letter portraitLegal landscapeQuarterYTD

The Portsmouth P. O. Credit Union

Portsmouth, VA · Charter 66897

Q4 2002

$1.9MAssets
$1.8MLoans
$1.8MShares
$-70KNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of -19.42%, down 1,985 bps year over year; NIM at 9.82%.
  • Asset quality: problem loans at 6.04% of loans (+261 bps YoY).
  • Capital: net worth / assets of -3.72%, down 1,923 bps from a year ago.
  • Funding: loans stand at 100.61% of shares as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

-19.42%-1,985 bps YoY

Net Interest Margin (YTD, annualized)

9.82%+514 bps YoY

Efficiency Ratio (YTD, annualized)

80.86%-1,157 bps YoY

Net Worth / Assets

-3.72%-1,923 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2001Q4 2001Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets0.42%0.36%-8.33%-6.55%-19.42%-1,985 bps
Return on Equity2.73%2.34%-101.32%-78.07%n/an/a
Net Interest Margin4.68%5.95%6.01%7.60%9.82%+514 bps
Efficiency Ratio92.43%80.42%88.41%81.89%80.86%-1,157 bps
Growth
Asset Growth (YoY)1.96%2.30%18.25%9.91%-13.49%-1,545 bps
Loan Growth (YoY)6.04%31.79%58.36%38.37%23.67%+1,763 bps
Share Growth (YoY)2.28%3.95%18.46%13.71%-0.23%-251 bps
Asset Quality
Delinquent Loans / Loans3.43%4.74%9.38%3.75%6.04%+261 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.88%1.13%6.11%2.75%8.90%+802 bps
Capital
Risk-Based Capital15.50%15.24%8.23%8.39%-3.72%-1,923 bps
Net Worth / Assets15.50%15.24%8.23%8.39%-3.72%-1,923 bps
Liquidity & Funding
Loans / Shares81.17%98.08%106.49%103.10%100.61%+1,944 bps
Liquid Assets / Assets27.30%13.53%10.95%7.37%4.93%-2,237 bps