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Wachovia Card Services, Performance and Condition Ratios
| 2010-03-31 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 11.6271% | 34 |
| Cost of funding earning assets | 0.0481% | 7,889 |
| Net interest margin | 11.5790% | 23 |
| Noninterest income to average assets | 2.7176% | 231 |
| Noninterest expense to average assets | 1.8771% | 7,367 |
| Loan and lease loss provision to assets | 10.1307% | 28 |
| Net operating income to assets | 0.7712% | 3,098 |
| Return on assets (ROA) | 0.7712% | 3,217 |
| Pretax return on assets | 1.2538% | 2,196 |
| Return on Equity (ROE) | 2.0986% | 5,728 |
| Retained earnings to average equity (ytd only) | 2.0986% | 4,874 |
| Net charge-offs to loans | 9.0535% | 69 |
| Credit loss provision to net charge-offs | 110.1690% | 3,127 |
| Earnings coverage of net charge-offs (x) | 1.2380% | 4,020 |
| Efficiency ratio | 10.1945% | 7,912 |
| Assets per employee ($millions) | 229.4796% | 15 |
| Cash dividends to net income (ytd only)* | 0.0000% | 2,528 |
| Condition Ratios (%) | ||
| Loss allowance to loans | 10.8805% | 19 |
| Loan loss allowance to noncurrent loans | 415.4865% | 763 |
| Noncurrent assets plus other real estate owned to assets | 2.6647% | 2,730 |
| Noncurrent loans to loans | 2.6187% | 3,045 |
| Net loans and leases to total assets | 90.6846% | 57 |
| Net loans and leases to deposits | 242,631.0314% | 4 |
| Net loans and leases to core deposits | 477,131.5697% | 1 |
| Total domestic deposits to total assets | 0.0374% | 7,937 |
| Equity capital to assets | 37.8655% | 58 |
| Core capital (leverage) ratio | 36.7668% | 59 |
| Tier 1 risk-based capital ratio | 37.5549% | 299 |
| Total risk-based capital ratio | 38.9267% | 288 |
| Memoranda: | ||
| Average total assets | $3,065,765,500 | 249 |
| Average earning assets | $2,791,742,500 | 244 |
| Average equity | $1,126,661,500 | 107 |
| Average total loans | $3,113,904,500 | 179 |
| 2009-12-31 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 12.2168% | 26 |
| Cost of funding earning assets | 0.0999% | 7,966 |
| Net interest margin | 12.1169% | 16 |
| Noninterest income to average assets | 10.5909% | 66 |
| Noninterest expense to average assets | 2.5072% | 6,097 |
| Loan and lease loss provision to assets | 19.4289% | 2 |
| Net operating income to assets | -0.2712% | 5,930 |
| Return on assets (ROA) | -0.2712% | 5,925 |
| Pretax return on assets | -0.4140% | 5,932 |
| Return on Equity (ROE) | -0.6982% | 5,655 |
| Retained earnings to average equity (ytd only) | -0.6982% | 5,173 |
| Net charge-offs to loans | 8.4827% | 67 |
| Credit loss provision to net charge-offs | 237.2222% | 1,522 |
| Earnings coverage of net charge-offs (x) | 2.3217% | 3,985 |
| Efficiency ratio | 9.0473% | 7,993 |
| Assets per employee ($millions) | 262.3580% | 16 |
| Cash dividends to net income (ytd only)* | 0.0000% | 4,015 |
| Condition Ratios (%) | ||
| Loss allowance to loans | 10.1224% | 22 |
| Loan loss allowance to noncurrent loans | 379.3069% | 874 |
| Noncurrent assets plus other real estate owned to assets | 2.7058% | 2,585 |
| Noncurrent loans to loans | 2.6686% | 2,874 |
| Net loans and leases to total assets | 91.1305% | 57 |
| Net loans and leases to deposits | 424,416.8639% | 4 |
| Net loans and leases to core deposits | 2,241,451.5625% | 1 |
| Total domestic deposits to total assets | 0.0215% | 8,016 |
| Equity capital to assets | 35.6925% | 76 |
| Core capital (leverage) ratio | 36.6481% | 74 |
| Tier 1 risk-based capital ratio | 35.3401% | 334 |
| Total risk-based capital ratio | 36.7017% | 331 |
| Memoranda: | ||
| Average total assets | $2,875,087,000 | 260 |
| Average earning assets | $2,593,725,600 | 261 |
| Average equity | $1,116,568,600 | 102 |
| Average total loans | $2,775,946,800 | 201 |
| 2009-09-30 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 12.3077% | 26 |
| Cost of funding earning assets | 0.1066% | 8,052 |
| Net interest margin | 12.2011% | 16 |
| Noninterest income to average assets | 10.7546% | 67 |
| Noninterest expense to average assets | 2.5475% | 5,904 |
| Loan and lease loss provision to assets | 21.1307% | 1 |
| Net operating income to assets | -1.2302% | 6,974 |
| Return on assets (ROA) | -1.2302% | 6,980 |
| Pretax return on assets | -1.9522% | 7,156 |
| Return on Equity (ROE) | -3.0974% | 6,258 |
| Retained earnings to average equity (ytd only) | -3.0974% | 5,957 |
| Net charge-offs to loans | 8.5451% | 71 |
| Credit loss provision to net charge-offs | 259.7711% | 1,645 |
| Earnings coverage of net charge-offs (x) | 2.3577% | 4,056 |
| Efficiency ratio | 9.0855% | 8,074 |
| Assets per employee ($millions) | 229.2869% | 18 |
| Cash dividends to net income (ytd only)* | 0.0000% | 3,688 |
| Condition Ratios (%) | ||
| Loss allowance to loans | 9.2433% | 21 |
| Loan loss allowance to noncurrent loans | 1,209.7276% | 305 |
| Noncurrent assets plus other real estate owned to assets | 0.7587% | 5,609 |
| Noncurrent loans to loans | 0.7641% | 5,777 |
| Net loans and leases to total assets | 90.1219% | 112 |
| Net loans and leases to deposits | 412,640.5530% | 5 |
| Net loans and leases to core deposits | 2,582,971.1538% | 1 |
| Total domestic deposits to total assets | 0.0218% | 8,103 |
| Equity capital to assets | 37.0669% | 81 |
| Core capital (leverage) ratio | 37.4253% | 85 |
| Tier 1 risk-based capital ratio | 36.7305% | 338 |
| Total risk-based capital ratio | 38.0785% | 327 |
| Memoranda: | ||
| Average total assets | $2,806,784,750 | 275 |
| Average earning assets | $2,523,910,250 | 275 |
| Average equity | $1,114,784,250 | 107 |
| Average total loans | $2,671,888,000 | 215 |
| 2009-06-30 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 12.1458% | 27 |
| Cost of funding earning assets | 0.1036% | 8,146 |
| Net interest margin | 12.0422% | 17 |
| Noninterest income to average assets | 10.9931% | 68 |
| Noninterest expense to average assets | 2.6273% | 5,628 |
| Loan and lease loss provision to assets | 22.0060% | 3 |
| Net operating income to assets | -1.7711% | 7,352 |
| Return on assets (ROA) | -1.7711% | 7,345 |
| Pretax return on assets | -2.8249% | 7,516 |
| Return on Equity (ROE) | -4.3542% | 6,526 |
| Retained earnings to average equity (ytd only) | -4.3542% | 6,195 |
| Net charge-offs to loans | 8.4029% | 89 |
| Credit loss provision to net charge-offs | 279.4650% | 1,673 |
| Earnings coverage of net charge-offs (x) | 2.4359% | 3,849 |
| Efficiency ratio | 9.3613% | 8,160 |
| Assets per employee ($millions) | 175.3192% | 20 |
| Cash dividends to net income (ytd only)* | 0.0000% | 3,532 |
| Condition Ratios (%) | ||
| Loss allowance to loans | 7.1467% | 46 |
| Loan loss allowance to noncurrent loans | 1,875.3114% | 205 |
| Noncurrent assets plus other real estate owned to assets | 0.3692% | 6,532 |
| Noncurrent loans to loans | 0.3811% | 6,555 |
| Net loans and leases to total assets | 89.9595% | 135 |
| Net loans and leases to deposits | 4,070,098.3871% | 3 |
| Net loans and leases to core deposits | 4,070,098.3871% | 1 |
| Total domestic deposits to total assets | 0.0022% | 8,202 |
| Equity capital to assets | 39.4431% | 87 |
| Core capital (leverage) ratio | 40.0169% | 91 |
| Tier 1 risk-based capital ratio | 39.1162% | 328 |
| Total risk-based capital ratio | 40.4366% | 317 |
| Memoranda: | ||
| Average total assets | $2,748,803,000 | 287 |
| Average earning assets | $2,468,754,670 | 288 |
| Average equity | $1,118,091,000 | 111 |
| Average total loans | $2,575,890,000 | 226 |
| 2009-03-31 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 11.8650% | 30 |
| Cost of funding earning assets | 0.1054% | 8,199 |
| Net interest margin | 11.7596% | 19 |
| Noninterest income to average assets | 9.9123% | 68 |
| Noninterest expense to average assets | 2.6104% | 5,415 |
| Loan and lease loss provision to assets | 27.4930% | 3 |
| Net operating income to assets | -6.0466% | 8,092 |
| Return on assets (ROA) | -6.0466% | 8,082 |
| Pretax return on assets | -9.6428% | 8,148 |
| Return on Equity (ROE) | -14.6369% | 7,589 |
| Retained earnings to average equity (ytd only) | -14.6369% | 7,417 |
| Net charge-offs to loans | 7.8180% | 98 |
| Credit loss provision to net charge-offs | 381.9383% | 1,347 |
| Earnings coverage of net charge-offs (x) | 2.4798% | 3,502 |
| Efficiency ratio | 9.8660% | 8,211 |
| Assets per employee ($millions) | 165.3278% | 23 |
| Cash dividends to net income (ytd only)* | 0.0000% | 2,832 |
| Condition Ratios (%) | ||
| Loss allowance to loans | 5.4947% | 86 |
| Loan loss allowance to noncurrent loans | 1,322.7003% | 322 |
| Noncurrent assets plus other real estate owned to assets | 0.3945% | 6,320 |
| Noncurrent loans to loans | 0.4154% | 6,379 |
| Net loans and leases to total assets | 89.7513% | 154 |
| Net loans and leases to deposits | 2,697,886.3636% | 4 |
| Net loans and leases to core deposits | 2,697,886.3636% | 1 |
| Total domestic deposits to total assets | 0.0033% | 8,252 |
| Equity capital to assets | 41.1922% | 90 |
| Core capital (leverage) ratio | 39.2730% | 97 |
| Tier 1 risk-based capital ratio | 40.9273% | 308 |
| Total risk-based capital ratio | 42.2268% | 297 |
| Memoranda: | ||
| Average total assets | $2,720,651,000 | 292 |
| Average earning assets | $2,440,380,000 | 295 |
| Average equity | $1,123,926,500 | 111 |
| Average total loans | $2,504,991,500 | 232 |
| 2008-12-31 | Rank | |
| Percentage of unprofitable institutions | NA | NA |
| Percentage of insitutions with earnings gains | NA | NA |
| Performance Ratios (%, annualized) | ||
| Yield on earning assets | 0.0000% | 8,298 |
| Cost of funding earning assets | 0.0000% | 8,290 |
| Net interest margin | 0.0000% | 8,294 |
| Noninterest income to average assets | 0.0000% | 8,110 |
| Noninterest expense to average assets | 0.0000% | 8,298 |
| Loan and lease loss provision to assets | 0.0000% | 7,334 |
| Net operating income to assets | 0.0000% | 6,365 |
| Return on assets (ROA) | 0.0000% | 6,229 |
| Pretax return on assets | 0.0000% | 6,153 |
| Return on Equity (ROE) | 0.0000% | 6,230 |
| Retained earnings to average equity (ytd only) | 0.0000% | 5,238 |
| Net charge-offs to loans | 0.0000% | 7,039 |
| Credit loss provision to net charge-offs | NA | NA |
| Earnings coverage of net charge-offs (x) | NA | NA |
| Efficiency ratio | NA | NA |
| Assets per employee ($millions) | 155.3366% | 19 |
| Cash dividends to net income (ytd only)* | NA | NA |
| Condition Ratios (%) | ||
| Loss allowance to loans | 0.0000% | 8,224 |
| Loan loss allowance to noncurrent loans | 0.0000% | 7,558 |
| Noncurrent assets plus other real estate owned to assets | 0.4138% | 5,981 |
| Noncurrent loans to loans | 0.4632% | 5,956 |
| Net loans and leases to total assets | 89.3331% | 248 |
| Net loans and leases to deposits | 423,356.9492% | 4 |
| Net loans and leases to core deposits | 4,995,612.0000% | 1 |
| Total domestic deposits to total assets | 0.0211% | 8,309 |
| Equity capital to assets | 41.4232% | 95 |
| Core capital (leverage) ratio | 38.7790% | 118 |
| Tier 1 risk-based capital ratio | 39.3203% | 354 |
| Total risk-based capital ratio | 39.3203% | 364 |
| Memoranda: | ||
| Average total assets | $2,458,614,400 | 306 |
| Average earning assets | $2,335,451,400 | 291 |
| Average equity | $1,124,298,000 | 104 |
| Average total loans | $2,334,666,000 | 239 |