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Second Bank & Trust

Culpeper, VA · Cert 6834

FDIC

Q1 2014

$3.1BAssets
$2.2BLoans
$2.4BDeposits
$573.7MEquity
Loan mix
85%RE $1.4B11%C&I $0.2B4%Consumer $0.1BQ1 2013Q1 2014
Deposit mix
95%Interest-bearing $2.3B5%Noninterest $0.1BQ1 2013Q1 2014

NIM

4.01%Q1 ’123.76%Q1 ’133.32%Q1 ’14-2%+2%

Non-interest income vs. expense

3.22%Q1 ’123.20%Q1 ’132.72%Q1 ’14-2%-8%

Executive Summary

  • Earnings: ROA of 0.98%, up 18 bps year over year; NIM at 3.36%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 90.88% of deposits as of Q1 2014.

Financial Results

Return on Assets (YTD, annualized)

0.98%+18 bps YoY

Net Interest Margin (YTD, annualized)

3.36%+8 bps YoY

Efficiency Ratio (YTD, annualized)

59.52%-1,199 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 Assets0.80%0.90%0.91%0.96%0.98%+18 bps
Return on Equity5.33%6.04%6.15%6.50%5.87%+54 bps
Net Interest Margin3.29%3.28%3.26%3.25%3.36%+8 bps
Efficiency Ratio71.50%69.78%69.22%69.00%59.52%-1,199 bps
Non-Interest Burden2.08%1.99%1.96%1.96%1.90%-18 bps
Growth
Asset Growth (YoY)2.99%1.16%4.12%1.55%4.17%+118 bps
Loan Growth (YoY)5.83%7.49%9.70%8.33%2.40%-343 bps
Deposit Growth (YoY)3.07%0.98%1.27%-0.70%-1.48%-455 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.27%0.25%0.26%0.23%-0.01%-29 bps
Allowance / Loans1.34%1.24%1.13%1.01%0.03%-131 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 Capital15.83%15.58%15.21%15.36%13.68%-215 bps
Equity / Assets14.94%14.79%14.57%14.85%18.32%+338 bps
Liquidity & Funding
Loans / Deposits87.44%89.33%92.90%92.74%90.88%+344 bps
Liquid Assets / Assets1.21%0.52%0.47%0.43%0.78%-44 bps
CRE / Total Capitaln/an/an/an/an/an/an/a