American Business Bank Reports First Quarter Earnings
Non-interest bearing demand deposits represent 48% of total deposits
First Quarter 2024 Highlights
-
Net income for the quarter totaled
$10.5 million , or$1.13 per diluted share - Net interest margin contracted to 3.07% over prior quarter of 3.16%
- Net yield on interest earning assets increased 7 basis points over the prior quarter
-
Total deposits decreased
$188 million or 5.4%over prior quarter - Cost of average deposits of 1.24% compared with 1.17% in the prior quarter
- Non-interest bearing demand deposits represent 48% of total deposits
-
Total loans decreased
$7 million or 0.3% over prior quarter - Minimal past due loans
-
Total borrowings decreased
$276 million or 57% over prior year -
Tangible book value per share of
$34.80 - Continued status as well-capitalized, the highest regulatory category
“We remain focused on providing high touch community banking services to our business clients with a conservative risk approach. At its core, our business is solely reliant on spread income and the rapid rise in interest rates combined with an inverted yield curve has compressed the net interest margin. As is typical, in the 1st quarter our customers distributed funds for bonuses. Additionally, several of our larger clients took advantage of outside investment opportunities. As a result, despite adding new clients, total deposits declined compared to the prior quarter. Our goals for 2024 continue to be centered on building our outstanding core deposit franchise to eliminate borrowings and enhance margins. There is a strong deposit pipeline of new customers and the cost of deposits seems to be accelerating at a slower pace. The key to our success in 2024 is the continued generation of new clients and we are well positioned to do so.
“The one area the Bank can control is expenses, operating expenses increased 0.9% quarter over quarter and 3.7% year over year. Despite experiencing margin pressure, the Bank still achieved a return on average assets of 1.08% and a return on average equity of 13.4% for the quarter.
“We continue to deliver superior service with the goal of being the premier relationship-banking franchise for small to mid-size businesses in Southern California.” commented
For the quarter ending
The provision for credit losses was
Net Interest Margin
Net interest margin for the first quarter of 2024 decreased to 3.07% from 3.16% for the fourth quarter of 2023 primarily due to an increase in average borrowings. Net interest margin for the first quarter of 2024 decreased to 3.07% from 3.38% for the first quarter of 2023 primarily due to an increase in the cost of deposits and a decline in the ratio of average non-interest bearing deposits to total deposits. As of
Net Interest Income
For the quarter ended
Provision for Credit Losses
The following table presents details of the provision for credit losses for the periods indicated:
Three Months Ended | ||||||||||
2024 |
2023 |
2023 |
||||||||
(Figures in $000s) | ||||||||||
Addition (recapture) to allowance for loan losses |
$ |
(226 |
) |
$ |
1,049 |
|
$ |
313 |
||
Addition (recapture) to reserve for unfunded loan commitments |
|
438 |
|
|
(490 |
) |
|
150 |
||
Total loan-related provision |
$ |
212 |
|
$ |
559 |
|
$ |
463 |
||
Addition to allowance for held-to-maturity securities |
|
- |
|
|
- |
|
|
- |
||
Total provision for credit losses |
$ |
212 |
|
$ |
559 |
|
$ |
463 |
Non-Interest Income
The decrease in non-interest income compared to the prior quarter and compared to the prior year quarter is primarily due a reduction in the gain on sales of SBA loans. In 2023, seasoned SBA loans were sold unlike in 2024 where only current production was sold.
Non-Interest Expense
For the quarter ending
There were 233 full time equivalent employees at
Income Taxes
The effective income tax rate was 27.9% for the quarter ended
Balance Sheet
For the quarter ended
2024 |
2023 |
|||||
(Figures in $000s) | ||||||
RE - Owner occupied |
$ |
1,120,822 |
$ |
1,111,476 |
||
RE - Non owner occupied |
|
718,439 |
|
722,531 |
||
Construction & Land |
|
62,359 |
|
50,078 |
||
Total CRE Loans |
$ |
1,901,621 |
$ |
1,884,085 |
The following table is the composition of the Owner occupied and Non owner occupied CRE loans by collateral type:
as of |
||||||
Owner occupied | Non owner occupied | |||||
(Figures in $000s) | ||||||
Industrial |
$ |
693,253 |
$ |
298,339 |
||
Office |
|
166,758 |
|
99,516 |
||
Retail |
|
22,349 |
|
183,539 |
||
Automobile Service Facilities |
|
66,709 |
|
17,759 |
||
Contractor's Yard |
|
60,427 |
|
8,302 |
||
Other |
|
27,379 |
|
36,292 |
||
Miscellaneous |
|
83,946 |
|
74,692 |
||
Total |
$ |
1,120,822 |
$ |
718,439 |
Total investment securities declined to
During the first quarter of 2024, deposits declined by
During the first quarter of 2024, total assets decreased
The
Asset Quality
The following table presents asset quality overview as of the dates indicated:
2024 |
2023 |
||||||
(Figures in $000s) | |||||||
Non-performing assets (NPA) |
$ |
7,440 |
|
$ |
7,859 |
|
|
Loans 90+ Days Past Due and Still Accruing |
|
- |
|
|
- |
|
|
Total NPA |
$ |
7,440 |
|
$ |
7,859 |
|
|
NPA as a % of total assets |
|
0.19 |
% |
|
0.20 |
% |
|
Past Due as a % of total Loans |
|
0.00 |
% |
|
0.00 |
% |
|
Criticized as a % of total Loans |
|
5.67 |
% |
|
5.95 |
% |
|
Classified as a % of total Loans |
|
0.88 |
% |
|
0.29 |
% |
During the first quarter, non-performing assets (NPAs) decreased by
The loan portfolio has approximately 10% in office collateral of which the majority is owner-occupied, and substantially all are three stories or under and are all located in suburban markets.
The following table represents the allowance for credit losses for loans as of and for the dates and periods indicated:
Three Months Ended | |||||||||||
2024 |
2023 |
2023 |
|||||||||
(Figures in $000s) | |||||||||||
Balance, beginning of period |
$ |
28,460 |
|
$ |
27,601 |
|
$ |
29,635 |
|
||
Cumulative effect of change in accounting principle - CECL |
|
- |
|
|
- |
|
|
(3,885 |
) |
||
Charge-offs |
|
(99 |
) |
|
(200 |
) |
|
- |
|
||
Recoveries |
|
200 |
|
|
10 |
|
|
10 |
|
||
Net (charge-offs) / recoveries |
$ |
101 |
|
$ |
(190 |
) |
$ |
10 |
|
||
Provision |
|
(226 |
) |
|
1,049 |
|
|
313 |
|
||
Balance, end of period |
$ |
28,335 |
|
$ |
28,460 |
|
$ |
26,073 |
|
||
Allowance as a % of loans |
|
1.10 |
% |
|
1.10 |
% |
|
1.05 |
% |
The allowance for credit losses for loans declined to
ABOUT
FORWARD LOOKING STATEMENTS
This communication contains certain forward-looking information about
|
|||||||||
Figures in |
|||||||||
BALANCE SHEETS (unaudited) | |||||||||
March | December | March | |||||||
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
Assets: | |||||||||
Cash and Due from Banks |
$ |
52,198 |
|
$ |
32,354 |
|
$ |
43,642 |
|
Interest Earning Deposits in Other Financial Institutions |
|
10,368 |
|
|
10,804 |
|
|
9,732 |
|
|
|||||||||
US Agencies |
|
85,678 |
|
|
91,226 |
|
|
114,081 |
|
|
|
394,124 |
|
|
413,870 |
|
|
442,375 |
|
State and Municipals |
|
86,535 |
|
|
91,949 |
|
|
100,791 |
|
Corporate Bonds |
|
13,870 |
|
|
14,157 |
|
|
14,347 |
|
Securities Available-for-Sale, at Fair Value |
|
580,207 |
|
|
611,202 |
|
|
671,594 |
|
|
|
176,317 |
|
|
178,985 |
|
|
187,850 |
|
State and Municipals |
|
384,612 |
|
|
390,184 |
|
|
393,459 |
|
Allowance for Credit Losses, Held-To-Maturity |
|
(55 |
) |
|
(55 |
) |
|
(55 |
) |
Securities Held-to-Maturity, at Amortized Cost, |
|
560,874 |
|
|
569,114 |
|
|
581,254 |
|
Net of Allowance for Credit Losses | |||||||||
Federal Home Loan |
|
15,000 |
|
|
15,000 |
|
|
15,000 |
|
|
|
1,156,081 |
|
|
1,195,316 |
|
|
1,267,848 |
|
Loans Receivable: | |||||||||
|
|
1,901,621 |
|
|
1,884,085 |
|
|
1,801,897 |
|
Commercial and Industrial |
|
470,294 |
|
|
491,698 |
|
|
491,065 |
|
|
|
194,059 |
|
|
197,281 |
|
|
175,099 |
|
Installment and Other |
|
6,685 |
|
|
6,577 |
|
|
9,665 |
|
Total Loans Receivable |
|
2,572,659 |
|
|
2,579,641 |
|
|
2,477,726 |
|
Allowance for Credit Losses |
|
(28,335 |
) |
|
(28,460 |
) |
|
(26,073 |
) |
Loans Receivable, Net |
|
2,544,324 |
|
|
2,551,181 |
|
|
2,451,653 |
|
Furniture, Equipment and Leasehold Improvements, Net |
|
4,380 |
|
|
4,589 |
|
|
5,334 |
|
|
|
29,185 |
|
|
28,898 |
|
|
27,863 |
|
Other Assets |
|
79,639 |
|
|
79,582 |
|
|
73,047 |
|
Total Assets |
$ |
3,876,175 |
|
$ |
3,902,724 |
|
$ |
3,879,119 |
|
Liabilities: | |||||||||
Non-Interest Bearing Demand Deposits |
$ |
1,601,795 |
|
$ |
1,699,560 |
|
$ |
1,708,750 |
|
Interest Bearing Transaction Accounts |
|
367,903 |
|
|
388,152 |
|
|
276,059 |
|
Money Market and Savings Deposits |
|
1,083,008 |
|
|
1,145,389 |
|
|
997,720 |
|
Certificates of Deposit |
|
256,309 |
|
|
264,312 |
|
|
93,624 |
|
Total Deposits |
|
3,309,015 |
|
|
3,497,413 |
|
|
3,076,153 |
|
Federal Home Loan Bank Advances / Other Borrowings |
|
210,000 |
|
|
55,000 |
|
|
486,000 |
|
Other Liabilities |
|
41,186 |
|
|
36,257 |
|
|
37,285 |
|
Total Liabilities |
$ |
3,560,201 |
|
$ |
3,588,670 |
|
$ |
3,599,438 |
|
Shareholders' Equity: | |||||||||
Common Stock |
$ |
208,336 |
|
$ |
208,048 |
|
$ |
205,791 |
|
Retained Earnings |
|
187,243 |
|
|
176,747 |
|
|
145,865 |
|
Accumulated Other Comprehensive Income / (Loss) |
|
(79,605 |
) |
|
(70,741 |
) |
|
(71,975 |
) |
Total Shareholders' Equity |
$ |
315,974 |
|
$ |
314,054 |
|
$ |
279,681 |
|
Total Liabilities and Shareholders' Equity |
$ |
3,876,175 |
|
$ |
3,902,724 |
|
$ |
3,879,119 |
|
Standby Letters of Credit |
$ |
43,810 |
|
$ |
43,178 |
|
$ |
40,641 |
|
Per Share Information: | |||||||||
Common Shares Outstanding |
|
9,078,782 |
|
|
9,041,911 |
|
|
8,998,695 |
|
Book Value Per Share |
$ |
34.80 |
|
$ |
34.73 |
|
$ |
31.08 |
|
Tangible Book Value Per Share |
$ |
34.80 |
|
$ |
34.73 |
|
$ |
31.08 |
|
|
|||||||||
Figures in |
|||||||||
INCOME STATEMENTS (unaudited) | |||||||||
For the three months ended: | |||||||||
March | December | March | |||||||
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
Interest Income: | |||||||||
Interest and Fees on Loans |
$ |
33,664 |
|
$ |
33,185 |
|
$ |
29,743 |
|
Interest on |
|
7,658 |
|
|
7,794 |
|
|
7,861 |
|
Interest on Interest Earning Deposits | |||||||||
in Other Financial Institutions |
|
250 |
|
|
623 |
|
|
208 |
|
Total Interest Income |
|
41,572 |
|
|
41,602 |
|
|
37,812 |
|
Interest Expense: | |||||||||
Interest on Interest Bearing Transaction Accounts |
|
1,002 |
|
|
1,011 |
|
|
231 |
|
Interest on Money Market and Savings Deposits |
|
7,265 |
|
|
7,027 |
|
|
2,230 |
|
Interest on Certificates of Deposits |
|
2,288 |
|
|
2,443 |
|
|
267 |
|
Interest on Federal Home Loan Bank Advances | |||||||||
and Other Borrowings |
|
1,598 |
|
|
171 |
|
|
3,086 |
|
Total Interest Expense |
|
12,153 |
|
|
10,652 |
|
|
5,814 |
|
Net Interest Income |
|
29,419 |
|
|
30,950 |
|
|
31,998 |
|
Provision for Credit Losses |
|
212 |
|
|
559 |
|
|
463 |
|
Net Interest Income after Provision for Credit Losses |
|
29,207 |
|
|
30,391 |
|
|
31,535 |
|
Non-Interest Income: | |||||||||
Deposit Fees |
|
988 |
|
|
941 |
|
|
1,023 |
|
International Fees |
|
406 |
|
|
419 |
|
|
269 |
|
Gain (Loss) on Sale of |
|
(110 |
) |
|
(418 |
) |
|
(211 |
) |
Gain on Sale of SBA Loans, Net |
|
57 |
|
|
- |
|
|
611 |
|
Bank/Corporate Owned Life Insurance Income (Expense) |
|
287 |
|
|
498 |
|
|
195 |
|
Other |
|
487 |
|
|
494 |
|
|
706 |
|
Total Non-Interest Income |
|
2,115 |
|
|
1,934 |
|
|
2,593 |
|
Non-Interest Expense: | |||||||||
Salaries and Employee Benefits |
|
11,649 |
|
|
11,182 |
|
|
11,338 |
|
Occupancy and Equipment |
|
1,209 |
|
|
1,207 |
|
|
1,192 |
|
Professional Services |
|
1,963 |
|
|
2,084 |
|
|
1,919 |
|
Promotion Expenses |
|
528 |
|
|
708 |
|
|
441 |
|
Other |
|
1,424 |
|
|
1,444 |
|
|
1,281 |
|
Total Non-Interest Expense |
|
16,773 |
|
|
16,625 |
|
|
16,171 |
|
Earnings before income taxes |
|
14,549 |
|
|
15,700 |
|
|
17,957 |
|
Income Tax Expense |
|
4,052 |
|
|
4,326 |
|
|
4,872 |
|
NET INCOME |
$ |
10,497 |
|
$ |
11,374 |
|
$ |
13,085 |
|
Per Share Information: | |||||||||
Earnings Per Share - Basic |
$ |
1.14 |
|
$ |
1.23 |
|
$ |
1.43 |
|
Earnings Per Share - Diluted |
$ |
1.13 |
|
$ |
1.23 |
|
$ |
1.42 |
|
Weighted Average Shares - Basic |
|
9,237,317 |
|
|
9,221,219 |
|
|
9,153,915 |
|
Weighted Average Shares - Diluted |
|
9,293,818 |
|
|
9,264,224 |
|
|
9,228,602 |
|
|
|||||||||||||
Figures in |
|||||||||||||
QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited) | |||||||||||||
For the three months ended: | |||||||||||||
|
|
||||||||||||
Average | Interest | Average | Average | Interest | Average | ||||||||
Balance | Inc/Exp | Yield/Rate | Balance | Inc/Exp | Yield/Rate | ||||||||
Interest Earning Assets: | |||||||||||||
Interest Earning Deposits in Other Financial Institutions |
$ |
19,252 |
$ |
250 |
5.23 |
% |
$ |
46,030 |
$ |
623 |
5.37 |
% |
|
|
|||||||||||||
US Agencies |
|
89,024 |
|
1,285 |
5.77 |
% |
|
94,837 |
|
1,327 |
5.60 |
% |
|
|
|
674,033 |
|
3,199 |
1.90 |
% |
|
684,903 |
|
3,246 |
1.90 |
% |
|
State and Municipals |
|
485,036 |
|
2,656 |
2.19 |
% |
|
493,806 |
|
2,720 |
2.20 |
% |
|
Corporate Bonds |
|
16,250 |
|
188 |
4.64 |
% |
|
16,250 |
|
189 |
4.64 |
% |
|
Securities Available-for-Sale and Held-to-Maturity |
|
1,264,343 |
|
7,328 |
2.32 |
% |
|
1,289,796 |
|
7,482 |
2.32 |
% |
|
Federal Home Loan |
|
15,000 |
|
330 |
8.79 |
% |
|
15,000 |
|
312 |
8.32 |
% |
|
|
|
1,279,343 |
|
7,658 |
2.39 |
% |
|
1,304,796 |
|
7,794 |
2.39 |
% |
|
Loans Receivable: | |||||||||||||
|
|
1,878,384 |
|
22,817 |
4.89 |
% |
|
1,853,087 |
|
22,354 |
4.79 |
% |
|
Commercial and Industrial |
|
471,147 |
|
7,740 |
6.61 |
% |
|
479,580 |
|
7,853 |
6.50 |
% |
|
|
|
196,176 |
|
3,044 |
6.24 |
% |
|
187,505 |
|
2,916 |
6.17 |
% |
|
Installment and Other |
|
9,235 |
|
63 |
2.74 |
% |
|
9,250 |
|
62 |
2.64 |
% |
|
Total Loans Receivable |
|
2,554,942 |
|
33,664 |
5.30 |
% |
|
2,529,422 |
|
33,185 |
5.21 |
% |
|
Total Interest Earning Assets |
$ |
3,853,537 |
$ |
41,572 |
4.27 |
% |
$ |
3,880,248 |
$ |
41,602 |
4.20 |
% |
|
Liabilities: | |||||||||||||
Non-Interest Bearing Demand Deposits |
|
1,647,928 |
|
- |
0.00 |
% |
|
1,799,457 |
|
- |
0.00 |
% |
|
Interest Bearing Transaction Accounts |
|
382,086 |
|
1,002 |
1.05 |
% |
|
372,990 |
|
1,011 |
1.08 |
% |
|
Money Market and Savings Deposits |
|
1,125,101 |
|
7,265 |
2.60 |
% |
|
1,120,271 |
|
7,027 |
2.49 |
% |
|
Certificates of Deposit |
|
255,490 |
|
2,288 |
3.60 |
% |
|
266,120 |
|
2,443 |
3.64 |
% |
|
Total Deposits |
|
3,410,605 |
|
10,555 |
1.24 |
% |
|
3,558,838 |
|
10,481 |
1.17 |
% |
|
Federal Home Loan Bank Advances / Other Borrowings |
|
123,022 |
|
1,598 |
5.22 |
% |
|
11,848 |
|
171 |
5.72 |
% |
|
Total Interest Bearing Deposits and Borrowings |
|
1,885,699 |
|
12,153 |
2.59 |
% |
|
1,771,229 |
|
10,652 |
2.39 |
% |
|
Total Deposits and Borrowings |
$ |
3,533,627 |
$ |
12,153 |
1.38 |
% |
$ |
3,570,686 |
$ |
10,652 |
1.18 |
% |
|
Net Interest Income |
$ |
29,419 |
$ |
30,950 |
|||||||||
Net Interest Rate Spread |
2.89 |
% |
3.02 |
% |
|||||||||
Net Interest Margin |
3.07 |
% |
3.16 |
% |
|||||||||
|
|||||||||||||
Figures in |
|||||||||||||
QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited) | |||||||||||||
For the three months ended: | |||||||||||||
|
|
||||||||||||
Average | Interest | Average | Average | Interest | Average | ||||||||
Balance | Inc/Exp | Yield/Rate | Balance | Inc/Exp | Yield/Rate | ||||||||
Interest Earning Assets: | |||||||||||||
Interest Earning Deposits in Other Financial Institutions |
$ |
19,252 |
$ |
250 |
5.23 |
% |
$ |
18,945 |
$ |
208 |
4.45 |
% |
|
|
|||||||||||||
US Agencies |
|
89,024 |
|
1,285 |
5.77 |
% |
|
118,463 |
|
1,203 |
4.06 |
% |
|
|
|
674,033 |
|
3,199 |
1.90 |
% |
|
719,422 |
|
3,417 |
1.90 |
% |
|
State and Municipals |
|
485,036 |
|
2,656 |
2.19 |
% |
|
505,910 |
|
2,792 |
2.21 |
% |
|
Corporate Bonds |
|
16,250 |
|
188 |
4.64 |
% |
|
16,250 |
|
184 |
4.52 |
% |
|
Securities Available-for-Sale and Held-to-Maturity |
|
1,264,343 |
|
7,328 |
2.32 |
% |
|
1,360,045 |
|
7,596 |
2.23 |
% |
|
Federal Home Loan |
|
15,000 |
|
330 |
8.79 |
% |
|
15,000 |
|
265 |
7.07 |
% |
|
|
|
1,279,343 |
|
7,658 |
2.39 |
% |
|
1,375,045 |
|
7,861 |
2.29 |
% |
|
Loans Receivable: | |||||||||||||
|
|
1,878,384 |
|
22,817 |
4.89 |
% |
|
1,757,142 |
|
19,630 |
4.53 |
% |
|
Commercial and Industrial |
|
471,147 |
|
7,740 |
6.61 |
% |
|
509,396 |
|
7,587 |
6.04 |
% |
|
|
|
196,176 |
|
3,044 |
6.24 |
% |
|
175,030 |
|
2,440 |
5.65 |
% |
|
Installment and Other |
|
9,235 |
|
63 |
2.74 |
% |
|
7,475 |
|
86 |
4.65 |
% |
|
Total Loans Receivable |
|
2,554,942 |
|
33,664 |
5.30 |
% |
|
2,449,043 |
|
29,743 |
4.93 |
% |
|
Total Interest Earning Assets |
$ |
3,853,537 |
$ |
41,572 |
4.27 |
% |
$ |
3,843,033 |
$ |
37,812 |
3.94 |
% |
|
Liabilities: | |||||||||||||
Non-Interest Bearing Demand Deposits |
|
1,647,928 |
|
- |
0.00 |
% |
|
1,832,495 |
|
- |
0.00 |
% |
|
Interest Bearing Transaction Accounts |
|
382,086 |
|
1,002 |
1.05 |
% |
|
285,939 |
|
231 |
0.33 |
% |
|
Money Market and Savings Deposits |
|
1,125,101 |
|
7,265 |
2.60 |
% |
|
1,133,697 |
|
2,230 |
0.80 |
% |
|
Certificates of Deposit |
|
255,490 |
|
2,288 |
3.60 |
% |
|
64,162 |
|
267 |
1.69 |
% |
|
Total Deposits |
|
3,410,605 |
|
10,555 |
1.24 |
% |
|
3,316,293 |
|
2,728 |
0.33 |
% |
|
Federal Home Loan Bank Advances / Other Borrowings |
|
123,022 |
|
1,598 |
5.22 |
% |
|
257,711 |
|
3,086 |
4.86 |
% |
|
Total Interest Bearing Deposits and Borrowings |
|
1,885,699 |
|
12,153 |
2.59 |
% |
|
1,741,509 |
|
5,814 |
1.35 |
% |
|
Total Deposits and Borrowings |
$ |
3,533,627 |
$ |
12,153 |
1.38 |
% |
$ |
3,574,003 |
$ |
5,814 |
0.66 |
% |
|
Net Interest Income |
$ |
29,419 |
$ |
31,998 |
|||||||||
Net Interest Rate Spread |
2.89 |
% |
3.28 |
% |
|||||||||
Net Interest Margin |
3.07 |
% |
3.38 |
% |
|||||||||
|
|||||||||
Figures in |
|||||||||
SUPPLEMENTAL DATA (unaudited) | |||||||||
March | December | March | |||||||
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
Performance Ratios: | |||||||||
Quarterly: | |||||||||
Return on Average Assets (ROAA) |
|
1.08 |
% |
|
1.17 |
% |
|
1.35 |
% |
Return on Average Equity (ROAE) |
|
13.42 |
% |
|
16.05 |
% |
|
19.54 |
% |
Efficiency Ratio |
|
54.39 |
% |
|
48.45 |
% |
|
46.90 |
% |
Year-to-Date | |||||||||
Return on Average Assets (ROAA) |
|
1.08 |
% |
|
1.13 |
% |
|
1.35 |
% |
Return on Average Equity (ROAE) |
|
13.42 |
% |
|
15.70 |
% |
|
19.54 |
% |
Efficiency Ratio |
|
54.39 |
% |
|
50.82 |
% |
|
46.90 |
% |
Capital Adequacy: | |||||||||
Total Risk Based Capital Ratio |
|
12.62 |
% |
|
12.37 |
% |
|
12.56 |
% |
Common Equity Tier 1 Capital Ratio |
|
11.72 |
% |
|
11.47 |
% |
|
11.65 |
% |
Tier 1 Risk Based Capital Ratio |
|
11.72 |
% |
|
11.47 |
% |
|
11.65 |
% |
Tier 1 Leverage Ratio |
|
9.99 |
% |
|
9.64 |
% |
|
8.90 |
% |
Tangible Common Equity / Tangible Assets |
|
8.15 |
% |
|
8.05 |
% |
|
7.21 |
% |
Asset Quality Overview | |||||||||
Non-Performing Loans |
$ |
7,440 |
|
$ |
7,859 |
|
$ |
6,000 |
|
Loans 90+ Days Past Due and Still Accruing |
|
- |
|
|
- |
|
|
- |
|
Total Non-Performing Loans |
|
7,440 |
|
|
7,859 |
|
|
6,000 |
|
Loans Modified with Financial Difficulty |
$ |
229 |
|
$ |
231 |
|
$ |
- |
|
Other Real Estate Owned |
|
- |
|
|
- |
|
|
- |
|
ACL / Loans Receivable |
|
1.10 |
% |
|
1.10 |
% |
|
1.05 |
% |
Non-Performing Loans / Total Loans Receivable |
|
0.29 |
% |
|
0.30 |
% |
|
0.24 |
% |
Non-Performing Assets / Total Assets |
|
0.19 |
% |
|
0.20 |
% |
|
0.15 |
% |
Net Charge-Offs (Recoveries) quarterly |
$ |
(101 |
) |
$ |
190 |
|
$ |
(10 |
) |
Net Charge-Offs (Recoveries) year-to-date |
$ |
(101 |
) |
$ |
344 |
|
$ |
(10 |
) |
Net Charge-Offs (Recoveries) year-to-date / Average Loans Receivable |
|
(0.00 |
%) |
|
0.01 |
% |
|
(0.00 |
%) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240430001225/en/
EVP/CFO
(213) 430-4000
www.americanbb.bank
Source: