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Bank of Essex

Tappahannock, VA · Cert 8675

FDIC · 24 branches

Q3 2021

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: Q3 2021, the quarter ended September 30, 2021, 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

Bank of Essex

Tappahannock, VA · Cert 8675

FDIC · 24 branches

Q3 2021

$1.8BAssets
$1.2BLoans
$1.5BDeposits
$186.3MEquity
Loan mix
77%RE $707.6M22%C&I $200.5M1%Consumer $6.8MQ3 2020Q3 2021
Deposit mix
77%Interest-bearing $1.2B23%Noninterest $0.3BQ3 2020Q3 2021

NIM

4.61%Q3 ’193.92%Q3 ’203.65%Q3 ’21-12%+6%

Non-interest income vs. expense

2.56%Q3 ’192.09%Q3 ’202.09%Q3 ’21-21%-2%

Market Position · Richmond, VA · 2021 SOD (annual) · 0.6% share · #9 of 29 inst. · $0.8B of $127.3B

33.8% Powhatan
40.3% Goochland
0.2% Henrico
0.9% Anne Arundel

Executive Summary

  • Earnings: ROA of 1.49%, up 58 bps year over year; NIM at 3.29%.
  • Asset quality: problem loans at 0.35% of loans (-7 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 10.33%, up 14 bps from a year ago.
  • Funding: loans stand at 83.08% of deposits as of Q3 2021.

Financial Results

Return on Assets (YTD, annualized)

1.49%+58 bps YoY

Net Interest Margin (YTD, annualized)

3.29%+18 bps YoY

Efficiency Ratio (YTD, annualized)

56.21%-347 bps YoY

Tier 1 Leverage Ratio

10.33%+14 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2020Q4 2020Q1 2021Q2 2021Q3 2021YoY ΔTrend
Earnings
Return on Assets0.92%1.04%1.63%1.47%1.49%+58 bps
Return on Equity8.61%9.78%15.60%14.11%14.29%+568 bps
Net Interest Margin3.11%3.14%3.41%3.33%3.29%+18 bps
Efficiency Ratio59.68%58.59%55.31%56.45%56.21%-347 bps
Non-Interest Burden1.70%1.68%1.69%1.68%1.66%-4 bps
Growth
Asset Growth (YoY)14.02%14.92%16.88%8.62%9.20%-482 bps
Loan Growth (YoY)12.87%10.54%10.18%1.22%3.37%-950 bps
Deposit Growth (YoY)16.22%20.24%17.89%9.28%9.54%-668 bps
Asset Quality
Nonperforming Loans / Loans0.42%0.43%0.32%0.34%0.35%-7 bps
Net Charge-Offs / Loans0.03%0.02%0.04%-0.01%-0.03%-6 bps
Allowance / Loans1.04%1.04%0.90%0.92%0.81%-23 bps
Allowance Coverage of NPLs2.5x2.4x2.8x2.7x2.3x-0.2x
Capital
Tier 1 Leverage Ratio10.19%10.14%10.43%10.28%10.33%+14 bps
Total Risk-Based Capital13.88%13.60%13.83%14.11%13.65%-22 bps
Equity / Assets10.43%10.48%10.36%10.37%10.52%+9 bps
Liquidity & Funding
Loans / Deposits88.04%86.18%85.10%81.16%83.08%-496 bps
Liquid Assets / Assets4.92%4.03%5.57%6.94%2.41%-251 bps
CRE / Total Capitaln/an/an/an/an/an/an/a