Bank 3 Annual Report- FIN 2600-02
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Northwood University, Michigan *
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Finance
Date
Jan 9, 2024
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Pages
21
Uploaded by MasterRiver4349
BANK 3
Annual Report
1
TABLE OF CONTENTS
A Message to Our Shareholders
2
Mission, Vision, and Values
5
Key Metrics
7
Consolidated Balance Sheet
Consolidated Income Statement
Performance Summary
Team Overview
CFO Overview
11
CLO Overview
13
CDO Overview
16
CIO Overview
18
Meet Our Team
20
2
A MESSAGE TO OUR SHAREHOLDERS
DECEMBER 31ST, 2031
DEAR FELLOW SHAREHOLDERS,
Throughout the years of 2030 and 2031 there has been an everchanging market within the
community. Bank 3 would like to formally thank you for your commitment and contribution to
the success of our institution. With plenty competition entering the market at the same time as
our institution, we appreciate your loyalty and belief in our mission and values. In these last two
years, it has been our mission to improve on our assets, loans, and deposits in order to meet the
needs of our customers and maximize to value for our shareholders. With many ups and down
throughout the previous period, especially in the beginning, we feel as a company we are now at
a place to be able to continue to exponential improve our earnings per shares for years to come.
As Chief Financial Officer, I have seen that there are many extremely positive
achievements that has come to Bank 3 in the year of 2031. First off, we have achieved an A
credit rating. We felt this was extremely important to work up to in order for our customers to
feel a sense of safety in our ability to pay back our debts and therefore fund their needs.
Lastly, we are proud to have achieved a status of having our market value exceed our
book value. We can thank this due to our earnings overall as a bank steadily improving,
especially over the past year of 2031. This is important to us because we feel it will be a true
foreshadowing of the success of our profitability and future growth in the future. Leaning on our
missions and goals, we hope to be able to expand farther into our community as well as other
communities in the future, and growing profitability will assist us in funding this growth. With
3
growing profitability, we also feel we can build the loyalty of our customers at Bank 3, further
increasing our touch with the community.
Looking towards the future, as an administrative unit we will continue to reanalyze our
goals to what best fits our customers and community. We plan on continuing to take on
community loans and deposits to the best of our ability and protect our assets wisely. As CEO,
communication with my administration has been vital in making the right decisions for our
company, customers, and shareholders.
Finally, we will manage our risk as we always have. After the ups and downs of the year
2030, especially in our loans, and after a Cease and Assist order, we have proven as a bank that
we can overcome adversity. In the beginning of 2030, with federal funding of over $200 million,
we were able to adapt to the circumstances of our community, learn from the mistakes, work
together as a team, and bring our federal funds down to 0 by the beginning of the next year. Our
teamwork has been a vital asset in being able to work through beginning issues and become a
steady, promising bank that will not allow these things to happen again.
As we continue each quarter
to do all in our power to maximize
our shareholder value, we begin to
look at our history of our stock price
in the previous 2 years. When we
took over the bank in 2029, we
started at a solid stock price of
17.63, through some ups and downs we took some short comings in 2030, but now feel in 2031
17.63
19.42
15.3
22.04
20.85
0
5
10
15
20
25
Q4-2029
Q2-2030
Q4-2030
Q2-2031
Q4-2031
STOCK PRICE
FROM 2030-2031
4
we are at a place to continue to keep our stock price above the $20 mark for years to come. We
will work to continue to raise our stock price in the future. In the third quarter of 2031, our bank
had the highest stock price out of any of our competitors, becoming the #1 bank it our
community, it is our goal to be able to work back to this position.
As we can see in figure 3, our net income over the past two years has been a bit
unpredictable with different changes in the
bank and within the market. As our bank
has moved to make changes around our
funding and liquid assets, we have seen a
lot of changes throughout the years.
Overall, we feel this is now a positive for
our bank in the future because in these first
beginning years we were able to find mistakes early on and will incorporate plans to avoid these
mistakes in the future. This planning will help us the continue to maximize our shareholder value
for years to come and improve our net come year by year.
We also have come in during the last quarter ranked second in our market capital rank
compared to the other banks in our community. We hope to be able to continue to improve our
market capital. We also have had a total return of 27.11% and hope to keep improving these
numbers looking towards the future.
Thank you for your commitment,
Piper Barnhart
,
CEO
0.436
1.148
0.12
1.16
0.476
0
0.2
0.4
0.6
0.8
1
1.2
1.4
Q4-2029
Q2-2030
Q4-2030
Q2-2031
Q4-2031
NET INCOME
FROM 2030-2031
5
MISSION, VISION, AND VALUES
MISSION
MISSION STATEMENT:
WE WILL ENGAGE WITH THE COMMUNITY IN A
WAY THAT MAKES THEM FEEL SAFE AND SUPPORTED IN FINANCIAL HIGHS AND
LOWS.
We believe:
•
a customer’s trust is the #1 asset to obtain in our relationships
•
our financial community family should feel their deposits and loans are safe with us
•
we can be the backbone to our community’s financial success.
•
In improving our performance daily
VISION STATEMENT
•
We strive to serve the community as its first option bank
•
Expanding and touching the lives throughout our region
•
Developing a strong reputation and expanding to new areas
•
Growing in an image that makes customers view us with their assets in a safe and
confident manner
VALUES
•
Determination
•
Strong Customer Relations
•
Community oriented
•
Family-friendly
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