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Bank One, West Virginia, National Association

Huntington, WV · Cert 6768

FDIC

Q2 2003

$2.1BAssets
$1.0BLoans
$1.7BDeposits
$132.4MEquity
Loan mix
71%RE $64.5M28%C&I $25.0M1%Consumer $1.0MQ2 2002Q2 2003
Deposit mix
84%Interest-bearing $1.4B16%Noninterest $0.3BQ2 2002Q2 2003

NIM

6.56%Q2 ’013.81%Q2 ’021.44%Q2 ’03-38%-99%

Non-interest income vs. expense

2.85%Q2 ’012.32%Q2 ’021.78%Q2 ’03-29%-40%

Executive Summary

  • Earnings: ROA of -0.46%, down 59 bps year over year; NIM at 0.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 58.95% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

-0.46%-59 bps YoY

Net Interest Margin (quarter, annualized)

0.01%-182 bps YoY

Efficiency Ratio (quarter, annualized)

174.04%+9,326 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets0.12%0.16%0.06%-0.09%-0.46%-59 bps
Return on Equity1.90%2.46%1.01%-1.51%-7.41%-931 bps
Net Interest Margin1.83%1.72%1.35%0.71%0.01%-182 bps
Efficiency Ratio80.78%71.73%74.16%110.66%174.04%+9,326 bps
Non-Interest Burden1.28%0.97%0.73%0.89%0.77%-51 bps
Growth
Asset Growth (YoY)0.37%3.14%5.72%5.91%3.35%+298 bps
Loan Growth (YoY)-27.49%-27.14%-32.64%72.50%33.02%+6,052 bps
Deposit Growth (YoY)2.84%5.34%6.32%1.65%0.22%-262 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.03%1.19%1.89%0.35%-0.04%-107 bps
Allowance / Loans1.84%2.10%2.46%0.96%0.75%-109 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 Capital13.17%13.69%14.47%15.09%25.61%+1,244 bps
Equity / Assets6.49%6.43%6.21%6.26%6.19%-30 bps
Liquidity & Funding
Loans / Deposits44.41%40.07%33.58%81.21%58.95%+1,454 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a