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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

6.18%Q2 ’066.23%Q2 ’075.37%Q2 ’08-12%-1%

Non-interest income vs. expense

3.77%Q2 ’063.94%Q2 ’074.46%Q2 ’08+2%+15%

Executive Summary

  • Earnings: ROA of -0.26%, down 94 bps year over year; NIM at 3.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.28%.
  • Funding: loans stand at 60.11% of deposits as of Q2 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.26%-94 bps YoY

Net Interest Margin (quarter, annualized)

3.15%-4 bps YoY

Efficiency Ratio (quarter, annualized)

110.81%+1,252 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets0.68%10.80%0.23%0.27%-0.26%-94 bps
Return on Equity7.13%8.30%2.42%2.76%-2.59%-972 bps
Net Interest Margin3.19%3.26%3.43%3.17%3.15%-4 bps
Efficiency Ratio98.29%72.50%97.90%92.49%110.81%+1,252 bps
Non-Interest Burden3.13%2.18%3.33%2.87%3.59%+46 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 / Loans0.38%-0.05%2.33%0.46%0.28%-10 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