ACBB's FINANCIAL RESULTS for the Nine Months Ending September 30, 2017 and 2016

FINANCIAL HIGHLIGHTS (consolidated)

 

 

BALANCE SHEET (in thousands) Unaudited Unaudited
ASSETS 9/30/2017 9/30/2016
Cash and Due from Banks $183,933 $153,305
Investment Securities 94,71 95,231
Federal Funds Sold 28,772 66,546
Loans, net 271,532 228,326
Other Assets 35,156 34,794
Total Assets $614,104 $578,202
     
LIABILITIES AND CAPITAL    
Deposits $377,070 $363,912

Federal Funds Purchased

84,882 75,339
Other Borrowed Money 63,349 54,707
Other Liabilities 8,225 6,756
Total Liabilities 533,526 500,714
     

Equity Capital

80,578 77,488
Total Liabilities and Capital $614,104 $578,202
     

INCOME STATEMENT (in thousands)

   

Interest Income

$11,806 $9,941
Interest Expense 3,103 1,919
Net Interest Income 8,703 8,022
     
Provision for Loan Losses 0 (90)
Realized Gains (Losses) on Securities 0 0
Non-interest Income 10,317 10,147
Operating Expenses 14,061 13,629
Taxes 1,514 1,406
Net Income $3,445 $3,224

 

SUMMARY OF FINANCIAL HIGHLIGHTS 

YTD net income of $3,445,000, was $221,000 above September 30, 2016 year to date. YTD net income of $3,445,000, was $221,000 above September 30, 2016 year to date. Net interest income increased by $681,000 year over year due to strong loan growth in 2017.

Strong Capital Levels (September 30, 2017) : 

Total Risk-Based Capital Ratio = 23.09%
Tier 1 Risk-Based Capital Ratio = 21.83%
Leverage Capital Ratio = 12.65%

Funding Diversification and Balance Sheet Composition: 

Net loans increased $43.2 million year over year, an increase of 18.9%. Net loans increased $43.2 million year over year, an increase of 18.9%. Deposit growth in CDs has been strong, increasing $37.5 million year over year. Other borrowed money increased by $8.6 million over September 2016 as long term loan growth has been funded with both FHLB advances and long term CDs.

Credit Quality: 

2017 YTD charge-offs were $462,000 while YTD recoveries totaled $22,000. 2017 YTD charge-offs were $462,000 while YTD recoveries totaled $22,000. Past due loans that are still accruing were 0.69% of gross loans, as of September 30, 2017. Robust loan loss allowance, as illustrated below:

  • ALLL to Total Non-Current Loans of 192.9%
  • ALLL to Total Loans of 2.84%
  • Texas ratio of only 5.86%

Other Ratios:

Return on Average Assets 0.73%
Return on Average Equity 5.84%
ALL to Non-performing Loans* 153.1%

Non-performing Assets to Total Assets

0.85%

*Includes performing TDRS