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Page Valley Bank, The

Luray, VA · Cert 6872

FDIC · 5 branches

Q3 2016

$296.4MAssets
$244.8MLoans
$235.6MDeposits
$30.7MEquity
Loan mix
84%RE $168.9M9%C&I $18.5M7%Consumer $14.6MQ4 2014Q3 2016
Deposit mix
83%Interest-bearing $196.2M17%Noninterest $39.4MQ4 2014Q3 2016

Market Position · Harrisonburg, VA · 2016 SOD (annual) · 1.7% share · #11 of 17 inst. · $0.0B of $2.2B

39.6% Page
2.2% Albemarle
2.0% Harrisonburg (City)
1.3% Rockingham

Executive Summary

  • Earnings: ROA of 0.75%, down 44 bps year over year; NIM at 3.48%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.21%.
  • Capital: tier 1 leverage ratio of 10.56%, down 33 bps from a year ago.
  • Funding: loans stand at 103.89% of deposits as of Q3 2016.

Return on Assets (quarter, annualized)

0.75%-44 bps YoY

Net Interest Margin (quarter, annualized)

3.48%-6 bps YoY

Efficiency Ratio (quarter, annualized)

60.99%+814 bps YoY

Tier 1 Leverage Ratio

10.56%-33 bps YoY

NIM

4.15%Q3 ’144.31%Q3 ’154.25%Q3 ’16+4%-2%

Non-interest income vs. expense

2.54%Q3 ’142.17%Q3 ’152.31%Q3 ’16-20%+25%

Discrete quarter, annualized.

MetricQ4 2014Q1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016Q3 2016YoY ΔTrend
Earnings
Return on Assets0.81%0.93%0.96%1.20%1.14%0.96%1.07%0.75%-44 bps
Return on Equity8.54%8.82%8.82%11.03%10.58%8.93%9.95%7.17%-385 bps
Net Interest Margin3.52%3.39%3.46%3.54%3.52%3.48%3.53%3.48%-6 bps
Efficiency Ratio69.10%63.32%62.82%52.85%56.82%60.71%57.64%60.99%+814 bps
Non-Interest Burden2.30%1.99%2.04%1.60%1.78%1.98%1.84%2.00%+40 bps
Growth
Asset Growth (YoY)11.50%11.09%10.40%12.67%11.83%10.56%14.21%15.25%+258 bps
Loan Growth (YoY)19.88%17.80%19.79%18.12%15.92%16.60%15.21%16.29%-183 bps
Deposit Growth (YoY)9.17%12.22%11.20%9.80%8.77%12.39%17.01%20.12%+1,032 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.07%0.02%0.07%0.04%0.07%0.15%1.21%+115 bps
Allowance / Loans1.14%1.13%1.09%1.08%1.08%1.09%1.07%0.81%-27 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/a10.98%10.97%10.89%10.86%10.79%10.79%10.56%-33 bps
Total Risk-Based Capital16.47%17.52%17.14%16.54%16.45%16.48%16.26%15.48%-106 bps
Equity / Assets10.30%10.87%10.92%10.82%10.71%10.90%10.69%10.35%-47 bps
Liquidity & Funding
Loans / Deposits101.51%99.57%102.60%107.31%108.19%103.30%101.02%103.89%-342 bps
Liquid Assets / Assets9.17%11.14%7.57%6.66%7.69%7.16%7.90%6.52%-14 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a