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Farmers First Bank

Lititz, PA · Cert 7579

FDIC · 247 branches

Q2 2015

$18.5BAssets
$13.5BLoans
$14.4BDeposits
$2.7BEquity
Loan mix
70%RE $6.5B21%C&I $1.9B9%Consumer $0.8BQ2 2014Q2 2015
Deposit mix
83%Interest-bearing $11.9B17%Noninterest $2.5BQ2 2014Q2 2015

NIM

3.87%Q2 ’133.57%Q2 ’143.38%Q2 ’15-8%0%

Non-interest income vs. expense

2.31%Q2 ’132.35%Q2 ’142.32%Q2 ’15+11%-3%

Market Position · Philadelphia-Camden-Wilmington, PA-NJ-DE-MD · 2015 SOD (annual) · 0.8% share · #15 of 133 inst. · $3.5B of $437.1B

25.6% Lancaster
4.6% Montgomery
6.8% Baltimore
7.0% Chester

Executive Summary

  • Earnings: ROA of 0.74%, down 19 bps year over year; NIM at 3.10%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.19%.
  • Capital: tier 1 leverage ratio of 9.09%.
  • Funding: loans stand at 93.34% of deposits as of Q2 2015.

Financial Results

Return on Assets (YTD, annualized)

0.74%-19 bps YoY

Net Interest Margin (YTD, annualized)

3.10%0 bps YoY

Efficiency Ratio (YTD, annualized)

65.42%+257 bps YoY

Tier 1 Leverage Ratio

9.09%

Year to date, annualized, through each quarter.

MetricQ2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets0.93%0.87%0.81%0.70%0.74%-19 bps
Return on Equity6.26%5.82%5.45%4.76%5.00%-126 bps
Net Interest Margin3.10%3.09%3.04%3.10%3.10%0 bps
Efficiency Ratio62.85%63.86%63.52%65.98%65.42%+257 bps
Non-Interest Burden1.79%1.81%1.76%1.75%1.73%-6 bps
Growth
Asset Growth (YoY)1.63%-0.03%0.72%1.16%1.12%-51 bps
Loan Growth (YoY)3.87%0.37%-0.43%-0.64%-1.34%-521 bps
Deposit Growth (YoY)4.28%6.95%6.82%6.37%8.31%+403 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.32%0.38%0.34%0.23%0.19%-14 bps
Allowance / Loans1.06%1.02%1.01%1.00%1.00%-6 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/a9.01%9.09%n/a
Total Risk-Based Capital12.52%12.74%12.36%12.06%12.13%-39 bps
Equity / Assets15.05%15.06%14.79%14.84%14.84%-21 bps
Liquidity & Funding
Loans / Deposits102.47%98.48%98.13%96.68%93.34%-913 bps
Liquid Assets / Assets0.92%3.23%1.67%1.47%1.11%+19 bps
CRE / Total Capitaln/an/an/an/an/an/an/a