G2299 CWB Front
Total Page:16
File Type:pdf, Size:1020Kb
Canadian Western Bank Annual Report 2002 33 Ways to Think Western BRANCH OFFICES ALBERTA EDMONTON Chinook Station RSP Administration/ VICTORIA Edmonton Main 6606 MacLeod Trail S.W. Agent Processing Centre 1201 Douglas Street 11350 Jasper Avenue Calgary, Alberta T2H 0K6 22nd Floor, 666 Burrard Street Victoria, B.C. V8W 2E6 CONSECUTIVE PROFITABLE QUARTERS Edmonton, Alberta T5K 0L8 Telephone: (403) 252-2299 Vancouver, B.C. V6C 2X8 Telephone: (250) 383-1206 58 Telephone: (780) 424-4846 Branch Manager - Al Steingart Telephone: (604) 443-5175 Branch Manager - IS NO COINCIDENCE. Branch Manager – Les Shore Toll free: 1-800-663-1000 Gerry Laliberte Foothills Branch Manager - 103rd Street 6127 Barlow Trail S.E. Huguette Holmes SASKATCHEWAN Canadian Western Bank Place Calgary, Alberta T2C 4W8 REGINA 10303 Jasper Avenue Telephone: (403) 269-9882 COQUITLAM So what is it that gives us the edge? STRAIGHTFORWARD 1881 Scarth Street Edmonton, Alberta T5J 3N6 Branch Manager – Rick Ferris 101 Schoolhouse Street McCallum Hill Centre II Telephone: (780) 423-8801 Coquitlam, B.C. V3K 4X8 BUSINESS PRACTICES… STRONG LEADERSHIP… Regina, Saskatchewan Branch Manager - RED DEER Telephone: (604) 540-8829 S4P 4K9 COMPETITIVE PRODUCTS?Well, those are the basics. But Jake Muntain 5013 - 49 Avenue Branch Manager – Red Deer, Alberta T4N 3X1 David McCosh Telephone: (306) 757-8888 Branch Manager - all that just gets you into the game. To achieve a string of 58 South Edmonton Common Telephone: (403) 341-4000 Ken MacDonald 2142 – 99 Street Branch Manager - Don Odell COURTENAY Edmonton, Alberta T6N 1L2 470 Puntledge Road winning quarters, you need something extra: A not-so secret SASKATOON Telephone: (780) 988-8607 LETHBRIDGE Courtenay, B.C. V9N 3R1 244 - 2nd Avenue S. weapon… Powerful, in the way that common sense sometimes hits Branch Manager – 744 - 4th Avenue South Telephone: (250) 334-8888 Saskatoon, Saskatchewan Wayne Dosman Lethbridge, Alberta T1J 0N8 Branch Manager – Alan Dafoe you out of the blue, but hardly secret… It’s the people on our team, Telephone: (403) 328-9199 S7K 1K9 Telephone: (306) 477-8888 Southside Branch Manager - KELOWNA Branch Manager – Doug Finnie WESTERN PEOPLE – staff and clients – who GIVE US THE 7933 - 104 Street Donald Grummett Kelowna Edmonton, Alberta T6E 4C9 1674 Bertram Street ... the edge. Sound familiar? It’s the GRANDE PRAIRIE Kelowna, B.C. V1Y 9G4 YORKTON EDGE THINK WESTERN Telephone: (780) 433-4286 #45, 277 Broadway Street E. Branch Manager - Heinz Kleist Industrial Lending Centre Telephone: (250) 862-8008 same tune we’ve been singing for years… and it still rings true… 5th Floor, 214 Place Branch Manager - Ian Graham Yorkton, Saskatchewan S3N 3G7 West Point 9909 - 102 Street Kelowna Industrial Centre Telephone: (306) 782-1002 17603 - 100 Avenue Grande Prairie, Alberta #101 – 1505 Harvey Avenue Branch Manager - Barb Apps Edmonton, Alberta T5S 2M1 T8V 2V4 Kelowna, B.C. V1Y 6G1 Telephone: (780) 484-7407 Telephone: (780) 831-1888 Telephone: (250) 860-0088 MANITOBA Branch Manager – Ron Baker Branch Manager – Keith MacLellan Branch Manager – WINNIPEG James Kitchin RSP Administration/ 234 Portage Avenue Agent Processing Centre BRITISH COLUMBIA Winnipeg, Manitoba R3C 0B1 Cranbrook Satellite Office Suite 2200, 10303 Jasper Avenue Telephone: (204) 956-4669 VANCOUVER 2009 – 5th Street South Edmonton, Alberta T5J 3X6 Branch Manager - Robert Bean Regional Office Cranbrook, B.C. V1C 1K6 Telephone: (780) 423-8888 22nd Floor, 666 Burrard Street Telephone: (250) 426-1140 CANADIAN WESTERN TRUST Branch Manager – 6 2 8 Vancouver, B.C. V C X Account Manager – Lina Langford 604 669 0081 BRITISH COLUMBIA Telephone: ( ) - Mike Eckersley Regional Manager – Rod Sorbo Suite 2200, 666 Burrard Street Vancouver, B.C. V6C 2X8 CALGARY LANGLEY 13 Telephone: (604) 685-2081 Calgary Main Granville & th 19915 – 64th Avenue 2899 Toll free: 1-800-663-1124 606 - 4th Street S.W. Granville Street Langley, B.C. V2Y 1G9 Calgary, Alberta T2P 1T1 Vancouver, B.C. V6H 3J4 Five Year Financial Summary Telephone: (604) 539-5088 604 730 8818 ALBERTA Telephone: (403) 262-8700 Telephone: ( ) - Branch Manager – Craig Martin Fold Out Highlights for 2002 Branch Manager - Branch Manager - Rob Berzins 2810 – 32nd Avenue N.E. Calgary, Alberta T1Y 5J4 Performance Targets Michael Halliwell NANAIMO Park Place Telephone: (403) 291-5268 1 Message to Shareholders 6475 Metral Drive 666 Toll free: 1-888-894-2331 Calgary Northeast Burrard Street Nanaimo, B.C. V9T 2L9 4 33 Ways to Think Western 6 2 8 2810 – 32nd Avenue N.E. Vancouver, B.C. V C X Telephone: (250) 390-0088 604 688 8711 25 Management’s Discussion and Analysis of Operations Calgary, Alberta T1Y 5J4 Telephone: ( ) - Branch Manager – Russ Burke and Financial Condition Telephone: (403) 250-8838 Branch Manager – Serge Biln 46 Financial Statements Branch Manager – SURREY Glen Eastwood Strawberry Hill 51 Notes to Consolidated Financial Statements 7548 - 120 Street 65 Corporate Governance Surrey, B.C. V3W 3N1 70 Executive Officers Telephone: (604) 591-1898 72 Board of Directors and Shareholder Information Branch Manager – Richard Howard Inside Back Cover Branch Offices Design and Production by Vision Design Communications. www.visiondc.com Photography by Roth & Ramberg Printing by Speedfast Color Press Inc. Printed in Canada PERFORMANCE TARGETS PERFORMANCE TARGETS 4,000 1.0 2003 Target % 3,500 % 2003 Target $ 3,639 million 0.8 % ≥ 0.88% 3,000 % % 0.97 0.96 2,500 0.87 0.6 0.83 0.81 2,000 $ 3,249 $ 2,883 0.4 1,500 $ 2,560 TOTAL LOANS $ 2,254 1,000 ETURN ON SSETS $ 1,990 R A 2002 Total loans increased to $3,249 million or 13% 0.2 500 year over year almost achieving our target of 14%. 2002 ROA at 0.83% fell short of our target of maintaining 0 Total assets grew 11.3%. 0.0 an ROA above 0.90%. 001 001 000 000 1998 1998 1999 1999 2 2 2003 2002 2003 2002 2 2003 Our target is for total loan growth of 12%. 2 2003 Our target is to achieve an ROA of 0.88% or higher. 35,000 2003 Target 0.30 $ 34.1 million 30,000 NET INCOME 0.25 2003 Target % ≤ 0.25 % 25,000 2002 Our target was for growth of 5%. Net income % 0.20 % % at $29.6 million decreased 2% from the record $30.1 0.26 20,000 $ 30,145 % 0.23 $ 29,612 0.15 0.22 CREDIT RISK 0.21 $ 26,900 million earned in fiscal 2001. Net income before income 15,000 taxes (teb) increased 3% over fiscal 2001 compared to our 0.10 0.18 2002 The provision for credit losses as a percentage 10,000 $ 19,012 $ 19,853 target of 12%. We fell short of our targets due to 0.05 of average loans was 0.26%, consistent with our goal 5,000 the negative impact of the record low interest rate of being 0.25% or less. Based only on net new specific 0 environment on our net interest margin. 0.00 provisions the ratio was 0.18%. 001 001 000 000 1998 1998 1999 1999 2 2 2003 2003 2002 2002 2 2 2003 Our target is to grow net income by 15%. 2003 Our target is to keep this ratio at 0.25% or less. 60 140,000 % % 2003 Target 50 120,000 % 2003 Target $ 127 – 130 million 59.8 60.7 % % ≤ 50% 100,000 40 54.3 FFICIENCY ATIO 50.7 E R 50.0 80,000 30 (expenses to revenues) 60,000 $ 113,421 $ 105,259 20 TOTAL REVENUES 2002 50.7% $ 88,622 The efficiency ratio (teb) was , almost 40,000 achieving our target of being below 50.0%. Our ratio $ 74,746 2002 Total revenues (teb) were $113.4 million, 10 20,000 $ 67,916 remains significantly better than the Canadian banking up almost 8% year over year which surpassed our 0 0 industry average of 66.5%. target of 5% growth. 001 001 000 000 1998 1999 2 1998 1999 2 2003 2002 2 2003 2002 2 2003 Our targeted efficiency ratio is 50.0% or less. 2003 Our target is for total revenue growth of 12-15%. PERFORMANCE TARGETS PERFORMANCE TARGETS 4,000 1.0 2003 Target % 3,500 % 2003 Target $ 3,639 million 0.8 % ≥ 0.88% 3,000 % % 0.97 0.96 2,500 0.87 0.6 0.83 0.81 2,000 $ 3,249 $ 2,883 0.4 1,500 $ 2,560 TOTAL LOANS $ 2,254 1,000 ETURN ON SSETS $ 1,990 R A 2002 Total loans increased to $3,249 million or 13% 0.2 500 year over year almost achieving our target of 14%. 2002 ROA at 0.83% fell short of our target of maintaining 0 Total assets grew 11.3%. 0.0 an ROA above 0.90%. 001 001 000 000 1998 1998 1999 1999 2 2 2003 2002 2003 2002 2 2003 Our target is for total loan growth of 12%. 2 2003 Our target is to achieve an ROA of 0.88% or higher. 35,000 2003 Target 0.30 $ 34.1 million 30,000 NET INCOME 0.25 2003 Target % ≤ 0.25 % 25,000 2002 Our target was for growth of 5%. Net income % 0.20 % % at $29.6 million decreased 2% from the record $30.1 0.26 20,000 $ 30,145 % 0.23 $ 29,612 0.15 0.22 CREDIT RISK 0.21 $ 26,900 million earned in fiscal 2001. Net income before income 15,000 taxes (teb) increased 3% over fiscal 2001 compared to our 0.10 0.18 2002 The provision for credit losses as a percentage 10,000 $ 19,012 $ 19,853 target of 12%. We fell short of our targets due to 0.05 of average loans was 0.26%, consistent with our goal 5,000 the negative impact of the record low interest rate of being 0.25% or less.