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American National Bank and Trust Company

Danville, VA · Cert 6837

FDIC · 26 branches

Q1 2024

$3.1BAssets
$2.3BLoans
$2.6BDeposits
$365.2MEquity
Loan mix
85%RE $1.4B15%C&I $0.2B0%Consumer $0.0BQ1 2023Q1 2024
Deposit mix
69%Interest-bearing $1.8B31%Noninterest $0.8BQ1 2023Q1 2024

NIM

2.57%Q1 ’223.62%Q1 ’234.02%Q1 ’24+21%-17%

Non-interest income vs. expense

1.81%Q1 ’221.96%Q1 ’231.89%Q1 ’24+23%-3%

Market Position · Roanoke, VA · 2023 SOD (annual) · 6.8% share · #4 of 16 inst. · $0.6B of $9.0B

40.4% Danville (City)
14.1% Alamance
1.9% Guilford
20.2% Franklin

Executive Summary

  • Earnings: ROA of 0.90%, down 37 bps year over year; NIM at 2.56%.
  • Asset quality: problem loans at 0.23% of loans (+15 bps YoY), with net recoveries of 0.02%.
  • Capital: tier 1 leverage ratio of 10.58%, up 33 bps from a year ago.
  • Funding: loans stand at 89.54% of deposits as of Q1 2024.

Financial Results

Return on Assets (quarter, annualized)

0.90%-37 bps YoY

Net Interest Margin (quarter, annualized)

2.56%-54 bps YoY

Efficiency Ratio (quarter, annualized)

61.27%+774 bps YoY

Tier 1 Leverage Ratio

10.58%+33 bps YoY

Discrete quarter, annualized.

MetricQ1 2023Q2 2023Q3 2023Q4 2023Q1 2024YoY ΔTrend
Earnings
Return on Assets1.27%1.01%1.02%0.70%0.90%-37 bps
Return on Equity11.25%8.89%9.05%6.04%7.57%-368 bps
Net Interest Margin3.11%2.83%2.74%2.59%2.56%-54 bps
Efficiency Ratio53.53%59.83%62.36%66.36%61.27%+774 bps
Non-Interest Burden1.39%1.46%1.47%1.50%1.35%-4 bps
Growth
Asset Growth (YoY)-8.05%-3.77%1.31%0.90%-0.05%+800 bps
Loan Growth (YoY)10.53%10.44%7.22%4.67%5.30%-523 bps
Deposit Growth (YoY)-10.76%-6.36%-4.50%0.41%-1.08%+968 bps
Asset Quality
Nonperforming Loans / Loans0.09%0.05%0.16%0.25%0.23%+15 bps
Net Charge-Offs / Loans0.04%-0.05%-0.06%0.05%-0.02%-5 bps
Allowance / Loans1.13%1.13%1.10%1.10%1.11%-2 bps
Allowance Coverage of NPLs13.2x24.7x6.7x4.3x4.8x-8.4x
Capital
Tier 1 Leverage Ratio10.25%10.39%10.44%10.46%10.58%+33 bps
Total Risk-Based Capital13.65%13.57%13.69%13.62%13.64%-1 bps
Equity / Assets11.39%11.21%11.29%11.82%11.89%+50 bps
Liquidity & Funding
Loans / Deposits84.11%84.68%88.43%87.70%89.54%+543 bps
Liquid Assets / Assets1.90%1.87%1.32%1.14%0.93%-97 bps
CRE / Total Capitaln/an/an/an/an/an/an/a