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First Vantage Bank/Tri-Cities

Bristol, VA · Cert 9982

FDIC

Q3 2003

$684.6MAssets
$376.3MLoans
$482.8MDeposits
$157.8MEquity
Loan mix
86%RE $163.9M14%C&I $26.1M1%Consumer $1.7MQ3 2002Q3 2003
Deposit mix
80%Interest-bearing $387.6M20%Noninterest $95.2MQ3 2002Q3 2003

NIM

6.94%Q3 ’016.28%Q3 ’021.23%Q3 ’03+12%-77%

Non-interest income vs. expense

3.63%Q3 ’013.43%Q3 ’021.10%Q3 ’03-5%-68%

Executive Summary

  • Earnings: ROA of 0.12%, down 104 bps year over year; NIM at 1.05%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 77.94% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

0.12%-104 bps YoY

Net Interest Margin (YTD, annualized)

1.05%-347 bps YoY

Efficiency Ratio (YTD, annualized)

76.87%+1,555 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.16%1.18%0.96%0.99%0.12%-104 bps
Return on Equity16.20%16.47%13.28%13.20%1.05%-1,515 bps
Net Interest Margin4.52%4.62%4.19%4.25%1.05%-347 bps
Efficiency Ratio61.32%61.37%65.93%66.04%76.87%+1,555 bps
Non-Interest Burden2.65%2.71%2.67%2.72%0.85%-179 bps
Growth
Asset Growth (YoY)2.84%-0.79%-1.99%-7.78%7.35%+451 bps
Loan Growth (YoY)-3.06%-3.98%-9.24%-9.66%-3.49%-42 bps
Deposit Growth (YoY)-1.72%-5.58%-2.72%-6.15%-5.98%-426 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.11%0.04%0.06%0.04%-7 bps
Allowance / Loans1.11%1.11%1.11%1.11%1.11%0 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital12.61%11.67%12.27%13.25%13.38%+77 bps
Equity / Assets7.82%7.22%7.25%8.01%23.05%+1,523 bps
Liquidity & Funding
Loans / Deposits75.93%75.76%75.29%76.19%77.94%+201 bps
Liquid Assets / Assets26.16%24.62%25.65%29.85%0.00%-2,616 bps
CRE / Total Capitaln/an/an/an/an/an/an/a