Bank 3 Annual Report- FIN 2600-02

.pdf

School

Northwood University, Michigan *

*We aren’t endorsed by this school

Course

2600

Subject

Finance

Date

Jan 9, 2024

Type

pdf

Pages

21

Uploaded by MasterRiver4349

Report
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
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help