Statement of Financial Condition

Dear Valued Client:

As we enter into our ninth year of business, we are energized and excited with our growing capabilities to serve you better. We are pleased to share with you our Statement of Financial Condition, as well as our organic growth charts.

Our balance sheet is well-capitalized and positioned for future growth. With over $22.5 million in capital, our lending limit has grown to $4.5 million. We also continue to have an established strong network of participant banks and can accommodate credit needs of $10 million or more. Combine this with our expertise and state-of-the-art Treasury Management, and we have the ability to serve a broad market, including businesses with revenues of $50 million or more.

In addition to our strong balance sheet, we recently made several investments in new staff and technology to better serve you, including enhanced online and mobile banking products. Looking ahead in 2014 we see continued market improvement. Our portfolio of clients appears healthy and trending positively, which we believe will continue to foster new loan and deposit growth. This optimism is grounded in the belief that our success is the result of our dedication to the success of you — our clients.

Thank you for trusting your banking relationship to Tradition Capital Bank. We work for you.

Sincerely,

Dan Fagan

Dan P. Fagan
President & CEO

 

Balance Sheet

December 31, 2013
($ thousands)

Assets
Total Assets 258,577
Real Estate Loans 179,214
Commercial Loans 42,196
Individual Loans 2,968
Other LN&LS 1,322
          Gross Loans 225,577
     Loans Held For Sale 22,668
     Loans Not Held For Sale 202,909
     Allowance for Loan Losses (2,975)
          Net Loans & Leases 222,602
U.S. Treasury & Agency Securities 9,478
Municipal Securities 7,392
Interest-Bearing Bank Balances 7,787
Nonint Cash & Due From Banks 4,981
Premises, Fix Assets, Cap Leases 618
Other Real Estate Owned 2,826
Acceptances & Other Assets 2,893
Liabilities
Total Liabilities & Capital 258,577
Demand Deposits 60,114
All Now & ATS Accounts 54,959
Money Market Deposit Accounts 54,612
Other Savings Deposits 746
Time Deps At Or Below Insurance Limit 25,524
Time Deps Above Insurance Limit 15,700
     Total Deposits 211,655
Federal Funds Purch & Resale 16,250
Fed Home Loan Borrowings 6,500
Acceptances & Other Liabilities 1,144
     Total Liabilities (Incl Mortg) 235,549
     Total Bank Capital 23,028

 

Income Statement

December 31, 2013
($ thousands)

Liabilities
Interest and Fees On Loans 11,264
   
U.S. Treas & Agency (Excl MBS) 62
All Other Securities 49
   
Interest on Due From Banks 44
Interest on Fed Funds Sold & Resales 0
Other Interest Income 36
   
Total Interest Income (TE) 11,455
   
Interest on Time Dep Over $100M 451
Interest on All Other Deposits 1,023
Interest on Fed Funds Purch & Repos 1
Int Trad Liab & Oth Borrowings 116
   
Total Interest Expense 1,591
   
Net Interest Income (TE) 9,864
Non-interest Income 912
   
Non-interest Expense 6,896
Provision: Loan & Lease Losses 417
   
Net Operating Income 3,463

 

Historical Reference

 TCB Total Deposits (millions) Bar Chart image TCB Total Deposits (millions) Bar Chart image TCB Net Principal Loans (millions) Bar Chart image