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Commercial National Bank of L'Anse

L'Anse, MI · Cert 10548

FDIC

Q4 2008

$65.6MAssets
$36.8MLoans
$56.7MDeposits
$8.2MEquity
Loan mix
81%RE $19.8M19%C&I $4.6M0%Consumer $0.1MQ4 2007Q4 2008
Deposit mix
90%Interest-bearing $51.0M10%Noninterest $5.7MQ4 2007Q4 2008

NIM

5.53%Q4 ’065.96%Q4 ’075.72%Q4 ’08+2%+1%

Non-interest income vs. expense

2.60%Q4 ’062.57%Q4 ’072.58%Q4 ’08+1%+1%

Executive Summary

  • Earnings: ROA of 1.05%, up 3 bps year over year; NIM at 3.64%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 64.84% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

1.05%+3 bps YoY

Net Interest Margin (YTD, annualized)

3.64%+3 bps YoY

Efficiency Ratio (YTD, annualized)

64.81%-6 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.01%1.04%1.05%1.04%1.05%+3 bps
Return on Equity8.89%8.91%8.92%8.82%8.76%-13 bps
Net Interest Margin3.60%3.49%3.59%3.65%3.64%+3 bps
Efficiency Ratio64.88%63.52%63.41%63.91%64.81%-6 bps
Non-Interest Burden2.21%2.09%2.16%2.21%2.24%+2 bps
Growth
Asset Growth (YoY)-1.55%2.99%3.14%-0.48%1.41%+296 bps
Loan Growth (YoY)-2.92%-4.51%-4.58%-5.75%-4.32%-140 bps
Deposit Growth (YoY)-2.46%2.04%2.82%-0.98%0.32%+278 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.22%0.21%0.12%0.16%0.34%+12 bps
Allowance / Loans1.42%1.48%1.51%1.54%1.35%-7 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital21.45%21.67%22.17%22.77%22.70%+125 bps
Equity / Assets11.84%11.59%11.85%11.90%12.58%+74 bps
Liquidity & Funding
Loans / Deposits67.99%61.28%65.02%63.01%64.84%-314 bps
Liquid Assets / Assets0.00%4.36%0.15%0.15%0.15%+15 bps
CRE / Total Capitaln/an/an/an/an/an/an/a