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State Bank & Trust Company

Harrodsburg, KY · Cert 12157

FDIC

Q2 2008

$97.9MAssets
$52.6MLoans
$87.6MDeposits
$9.7MEquity
Deposit mix
84%Interest-bearing $73.9M16%Noninterest $13.6MQ2 2007Q2 2008

NIM

6.30%Q2 ’066.19%Q2 ’075.77%Q2 ’08-16%+3%

Non-interest income vs. expense

3.47%Q2 ’063.90%Q2 ’074.17%Q2 ’08+16%+4%

Executive Summary

  • Earnings: ROA of 0.01%, down 23 bps year over year; NIM at 3.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.37%.
  • Funding: loans stand at 60.11% of deposits as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

0.01%-23 bps YoY

Net Interest Margin (YTD, annualized)

3.24%+10 bps YoY

Efficiency Ratio (YTD, annualized)

101.47%+108 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets0.24%10.43%0.38%0.27%0.01%-23 bps
Return on Equity2.54%4.44%3.94%2.76%0.12%-242 bps
Net Interest Margin3.15%3.22%3.22%3.17%3.24%+10 bps
Efficiency Ratio100.39%91.10%93.06%92.49%101.47%+108 bps
Non-Interest Burden3.16%2.87%2.94%2.87%3.30%+14 bps
Growth
Asset Growth (YoY)-5.88%-2.90%-2.92%-0.47%-5.43%+45 bps
Loan Growth (YoY)-11.67%-7.80%-3.03%0.99%0.13%+1,179 bps
Deposit Growth (YoY)2.90%7.06%6.35%1.85%-5.93%-884 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%0.04%0.61%0.46%0.37%+28 bps
Allowance / Loans4.32%4.38%3.79%3.68%3.60%-72 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 Capital15.90%16.16%15.93%16.34%15.73%-17 bps
Equity / Assets9.52%9.82%9.53%10.01%9.89%+37 bps
Liquidity & Funding
Loans / Deposits56.47%55.95%54.71%56.56%60.11%+364 bps
Liquid Assets / Assets0.22%0.23%0.16%0.17%0.18%-4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a