CMS Case Study
NII Reconciliation - 12/31/2021
3 MONTH LOOKBACK
09/30/2021 - 12/31/2021
06/30/2021 - 09/30/2021
03/31/2021 - 06/30/2021
12/31/2020 - 03/31/2021
VARIANCE
VARIANCE
VARIANCE
VARIANCE
PROJ. ACTUALS 1,706 1,729 4,612 4,760
$
% PROJ. ACTUALS
$
% PROJ. ACTUALS
$
% PROJ. ACTUALS
$
%
INVESTMENTS
-23 -1.36% 1,442 1,360 -148 -3.11% 4,846 5,075
82 6.02% 1,261 1,137 -229 -4.51% 4,582 4,759
124 10.89% 858
861
-2 -0.27% -16 -0.37%
LOANS
-176 -3.71% 4,365 4,381
OTHER ASSETS
0
0
0 0.00%
0
0
0 0.00%
0
0
0 0.00%
0
0
0 0.00%
TOTAL INTEREST INCOME
6,318 6,490 -171 -2.64% 6,288 6,435 -147 -2.29% 5,843 5,896
-52 -0.89% 5,223 5,242
-19 -0.36%
DEPOSITS
NON-MATURITY DEPOSITS TIME DEPOSITS
363 123 486
330 122 452
33 9.92% 349 1 0.96% 142 34 7.50% 491
319 141 460
29 9.16% 342 1 1.03% 156 31 6.68% 498
367 156 523
-25 -6.74% 324 0 0.04% 177 -25 -4.71% 501 -1 -1.74% 65
316 178 494
8 2.62%
-1 -0.59% 7 1.46% -3 -3.89% 0 0.00% 5 0.82% -23 -0.50%
TOTAL DEPOSITS BORROWINGS
78
98
-20 -20.14% 0 0.00%
73
77
-4 -5.29% 0 0.00%
70
71
68
ALL OTHER LIABILITIES
0
0
0
0
0
0
0 0.00%
0
0
TOTAL INTEREST EXPENSE NET INTEREST INCOME
565
550
14 2.59% 564
537
27 4.96% 568
594
-26 -4.36% 566
561
5,754 5,939 -186 -3.13% 5,724 5,898 -174 -2.95% 5,275 5,302
-27 -0.50% 4,657 4,680
12 MONTH LOOKBACK
12/31/2020 - 12/31/2021
09/30/2020 - 09/30/2021
06/30/2020 - 06/30/2021
03/31/2020 - 03/31/2021
VARIANCE
VARIANCE
VARIANCE
VARIANCE
PROJ. ACTUALS
$
% PROJ. ACTUALS
$
% PROJ. ACTUALS
$
% PROJ. ACTUALS
$
%
INVESTMENTS
3,269 5,087 -1,818 -35.73% 3,342 4,138
-796 -19.23% 3,679 3,690
-11 -0.29% 3,657 3,465 -293 -1.60% 17,270 18,189
192 5.55% -920 -5.06%
LOANS
17,723 18,975 -1,251 -6.59% 17,619 18,666 -1,048 -5.61% 18,055 18,348
OTHER ASSETS 0 0.00% TOTAL INTEREST INCOME 20,993 24,062 -3,069 -12.75% 20,961 22,804 -1,843 -8.08% 21,734 22,037 -304 -1.38% 20,927 21,654 -727 -3.36% DEPOSITS NON-MATURITY DEPOSITS 1,382 1,332 50 3.74% 1,193 1,287 -93 -7.27% 1,174 1,230 -56 -4.56% 1,464 1,134 329 29.05% TIME DEPOSITS 559 597 -38 -6.40% 725 712 13 1.85% 937 946 -9 -0.95% 1,599 1,255 344 27.41% TOTAL DEPOSITS 1,941 1,929 12 0.60% 1,918 1,998 -80 -4.02% 2,111 2,176 -65 -2.99% 3,063 2,389 673 28.19% BORROWINGS 263 314 -50 -16.09% 316 287 29 10.27% 288 285 2 0.85% 244 280 -36 -12.80% ALL OTHER LIABILITIES 0 0 0 0.00% 0 0 0 0.00% 0 0 0 0.00% 0 0 0 0.00% TOTAL INTEREST EXPENSE 2,204 2,243 -39 -1.73% 2,234 2,285 -51 -2.22% 2,398 2,461 -63 -2.55% 3,307 2,669 638 23.89% NET INTEREST INCOME 18,789 21,819 -3,030 -13.89% 18,727 20,519 -1,792 -8.73% 19,335 19,576 -241 -1.23% 17,620 18,985 -1,365 -7.19% 0 0 0 0.00% 0 0 0 0.00% 0 0 0 0.00% 0 0
1. 09/30/2021 - 12/31/2021 NII recon. variance is due to bond purchases (which outpaced projections) and loan growth (portfolio ex-PPP is assumed to be static). 2. 12/31/2020 - 03/31/2021 NII recon. excludes PPP related fee income (as of 3/31/21, $535K in actual PPP fee income was realized over the quarter vs. $285K projected).
Cloyd Bank & Trust - Page 52
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