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Pinnacle State Bank

Woodruff, SC · Cert 14067

FDIC

Q3 2003

$64.7MAssets
$55.4MLoans
$50.5MDeposits
$8.3MEquity
Loan mix
44%RE $11.6M55%C&I $14.6M1%Consumer $0.4MQ3 2002Q3 2003
Deposit mix
70%Interest-bearing $35.4M30%Noninterest $15.1MQ3 2002Q3 2003

NIM

6.94%Q3 ’016.05%Q3 ’025.58%Q3 ’03-1%-2%

Non-interest income vs. expense

3.94%Q3 ’013.99%Q3 ’023.89%Q3 ’03-6%-19%

Executive Summary

  • Earnings: ROA of 2.07%, down 12 bps year over year; NIM at 4.99%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 109.64% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

2.07%-12 bps YoY

Net Interest Margin (quarter, annualized)

4.99%-11 bps YoY

Efficiency Ratio (quarter, annualized)

53.28%-256 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets2.19%1.87%2.25%2.05%2.07%-12 bps
Return on Equity16.22%13.81%17.00%16.03%16.14%-8 bps
Net Interest Margin5.09%5.61%5.16%5.14%4.99%-11 bps
Efficiency Ratio55.84%54.23%55.23%56.03%53.28%-256 bps
Non-Interest Burden1.94%2.11%1.94%1.98%1.58%-36 bps
Growth
Asset Growth (YoY)7.59%2.13%6.02%9.82%4.83%-276 bps
Loan Growth (YoY)22.60%16.83%10.96%5.82%17.37%-523 bps
Deposit Growth (YoY)8.48%1.36%4.28%9.67%2.74%-574 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.07%0.01%0.01%0.11%+9 bps
Allowance / Loans1.32%1.53%1.57%1.56%1.26%-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 Capital15.81%17.24%17.77%17.78%15.80%-1 bps
Equity / Assets13.45%13.66%12.82%12.80%12.91%-54 bps
Liquidity & Funding
Loans / Deposits95.97%97.25%87.12%86.55%109.64%+1,367 bps
Liquid Assets / Assets0.07%0.03%0.08%0.09%0.10%+2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a