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Vartan National Bank

Dauphin, PA · Cert 7461

FDIC · 8 branches

Q4 2022

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2022, the quarter ended December 31, 2022, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Vartan National Bank

Dauphin, PA · Cert 7461

FDIC · 8 branches

Q4 2022

$1.1BAssets
$976.8MLoans
$904.8MDeposits
$121.2MEquity
Loan mix
65%RE $462.2M35%C&I $248.0M0%Consumer $1.0MQ4 2021Q4 2022
Deposit mix
75%Interest-bearing $681.0M25%Noninterest $223.9MQ4 2021Q4 2022

NIM

3.89%Q4 ’204.65%Q4 ’214.56%Q4 ’22+29%-4%

Non-interest income vs. expense

2.12%Q4 ’202.42%Q4 ’212.68%Q4 ’22+15%+14%

Market Position · Harrisburg-Carlisle, PA · 2022 SOD (annual) · 3.7% share · #9 of 26 inst. · $0.7B of $19.6B

3.3% Cumberland
4.6% Dauphin
0.3% Bucks
0.3% Chester

Executive Summary

  • Earnings: ROA of 1.14%, up 11 bps year over year; NIM at 4.05%.
  • Asset quality: problem loans at 1.43% of loans (-2 bps YoY), with net charge-offs at 0.07%.
  • Capital: tier 1 leverage ratio of 11.68%, up 85 bps from a year ago.
  • Funding: loans stand at 107.95% of deposits as of Q4 2022.

Financial Results

Return on Assets (YTD, annualized)

1.14%+11 bps YoY

Net Interest Margin (YTD, annualized)

4.05%-15 bps YoY

Efficiency Ratio (YTD, annualized)

61.59%+809 bps YoY

Tier 1 Leverage Ratio

11.68%+85 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022YoY ΔTrend
Earnings
Return on Assets1.03%1.19%1.21%1.23%1.14%+11 bps
Return on Equity10.66%10.70%10.85%10.93%10.15%-50 bps
Net Interest Margin4.21%3.64%3.72%3.93%4.05%-15 bps
Efficiency Ratio53.50%59.66%59.53%58.48%61.59%+809 bps
Non-Interest Burden2.10%2.04%2.08%2.15%2.38%+28 bps
Growth
Asset Growth (YoY)-12.02%-7.90%-6.72%-6.64%9.72%+2,175 bps
Loan Growth (YoY)-9.45%-11.43%-6.07%1.67%11.63%+2,108 bps
Deposit Growth (YoY)-12.04%-7.42%-7.03%-5.59%10.96%+2,300 bps
Asset Quality
Nonperforming Loans / Loans1.45%1.37%1.37%1.31%1.43%-2 bps
Net Charge-Offs / Loans0.65%0.00%0.02%0.10%0.07%-58 bps
Allowance / Loans1.42%1.44%1.46%1.49%1.51%+9 bps
Allowance Coverage of NPLs1.0x1.1x1.1x1.1x1.1x+0.1x
Capital
Tier 1 Leverage Ratio10.83%11.10%11.26%11.47%11.68%+85 bps
Total Risk-Based Capital13.53%13.50%13.38%13.36%13.28%-25 bps
Equity / Assets11.28%10.98%11.21%11.46%11.24%-4 bps
Liquidity & Funding
Loans / Deposits107.30%101.02%102.89%105.63%107.95%+65 bps
Liquid Assets / Assets3.31%7.18%5.54%4.47%5.57%+227 bps
CRE / Total Capitaln/an/an/an/an/an/an/a