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Stephenville Bank and Trust Co.

Stephenville, TX · Cert 11573

FDIC

Q3 2004

$150.6MAssets
$82.0MLoans
$134.2MDeposits
$13.4MEquity
Loan mix
49%RE $21.9M49%C&I $21.7M2%Consumer $0.9MQ3 2003Q3 2004
Deposit mix
74%Interest-bearing $100.0M26%Noninterest $34.2MQ3 2003Q3 2004

NIM

5.88%Q3 ’024.87%Q3 ’034.89%Q3 ’04-11%+3%

Non-interest income vs. expense

2.71%Q3 ’022.73%Q3 ’032.71%Q3 ’04-9%+7%

Executive Summary

  • Earnings: ROA of 1.79%, unchanged from a year ago; NIM at 4.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 61.07% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

1.79%0 bps YoY

Net Interest Margin (quarter, annualized)

4.12%+12 bps YoY

Efficiency Ratio (quarter, annualized)

50.86%-36 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets1.79%1.62%2.12%2.08%1.79%0 bps
Return on Equity19.20%17.91%23.45%23.25%20.28%+108 bps
Net Interest Margin4.00%3.94%4.03%4.03%4.12%+12 bps
Efficiency Ratio51.22%54.27%44.77%47.64%50.86%-36 bps
Non-Interest Burden1.40%1.65%0.92%1.00%1.51%+10 bps
Growth
Asset Growth (YoY)7.00%7.01%6.63%4.40%4.22%-278 bps
Loan Growth (YoY)-3.11%1.80%6.00%1.11%6.35%+946 bps
Deposit Growth (YoY)5.46%7.26%6.23%7.46%4.58%-88 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%-0.37%0.00%-0.01%0.07%+12 bps
Allowance / Loans1.06%1.16%1.13%1.21%1.12%+6 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 Capital16.67%16.75%16.57%16.42%15.54%-112 bps
Equity / Assets9.16%8.99%9.12%8.76%8.90%-25 bps
Liquidity & Funding
Loans / Deposits60.05%57.19%60.16%57.20%61.07%+102 bps
Liquid Assets / Assets12.62%10.46%10.10%7.90%6.78%-584 bps
CRE / Total Capitaln/an/an/an/an/an/an/a