ACBB's FINANCIAL RESULTS for the Three Months Ending March 31, 2017 and 2016

FINANCIAL HIGHLIGHTS (consolidated)

 

 

BALANCE SHEET (in thousands) Unaudited Unaudited
ASSETS 3/31/2017 3/31/2016
Cash and Due from Banks $220,249 $173,835
Investment Securities 95,918 77,357
Federal Funds Sold 23,424 52,190
Loans, net 258,196 217,425
Other Assets 35,472 30,778
Total Assets $633,259 $551,585
     
LIABILITIES AND CAPITAL    
Deposits $397,329 $362,027

Federal Funds Purchased

84,056 69,912
Other Borrowed Money 66,752 37,831
Other Liabilities 6,904 6,162
Total Liabilities 555,041 475,932
     

Equity Capital

78,218 75,653
Total Liabilities and Capital $633,259 $551,585
     

INCOME STATEMENT (in thousands)

   

Interest Income

$3,731 $3,367
Interest Expense 861 595
Net Interest Income 2,870 2,772
     
Provision for Loan Losses 0 0
Realized Gains (Losses) on Securities 0 0
Non-interest Income 4,040 3,431
Operating Expenses 5,045 4,565
Taxes 585 508
Net Income $1,280 $1,130

 

SUMMARY OF FINANCIAL HIGHLIGHTS 

YTD Net income of $1,280,000 for 2017 was $150,000 above March 2016 YTD net income.
YTD Net interest income increased $98,000, or 3.5% as net loans outstanding grew
$40.8 million year over year. Year-to-date income included several non-recurring
fees earned by ACBB-BITS.

Strong Capital Levels: 

Total Risk-Based Capital Ratio = 23.35%
Tier 1 Risk-Based Capital Ratio = 22.05%
Leverage Capital Ratio = 12.59%

Funding Diversification and Balance Sheet Composition: 

Net loans increased 18.8% over March 2016. Deposit growth was primarily in CDs which grew by $21 million year over year. Other borrowed money increased by 76% over March 2016 as long term loan
growth was funded with FHLB advances.

Credit Quality: 

Past due loans that are still accruing were 0.45% of gross loans as of March 31, 2017. Robust loan loss allowance, as illustrated below: 

  • ALL to Total Non-Current Loans of 277.59%
  • ALL to Total Loans of 3.15%
  • Texas ratio of only 3.46%

Other Ratios:

Return on Average Assets 0.83%
Return on Average Equity 6.70%
ALL to Non-performing Loans* 281.2%

Non-performing Assets to Total Assets

0.63%

*Includes performing TDRS