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Heritage Bank & Trust Company

Darlington, IN · Cert 14632

FDIC

Q1 2003

$13.9MAssets
$8.6MLoans
$11.5MDeposits
$2.4MEquity
Deposit mix
83%Interest-bearing $9.5M17%Noninterest $1.9MQ1 2002Q1 2003

NIM

8.25%Q1 ’016.03%Q1 ’025.55%Q1 ’03+36%-25%

Non-interest income vs. expense

3.26%Q1 ’013.07%Q1 ’024.27%Q1 ’03+0%+35%

Executive Summary

  • Earnings: ROA of 0.37%, down 143 bps year over year; NIM at 4.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 75.17% of deposits as of Q1 2003.

Financial Results

Return on Assets (YTD, annualized)

0.37%-143 bps YoY

Net Interest Margin (YTD, annualized)

4.27%-142 bps YoY

Efficiency Ratio (YTD, annualized)

92.02%+3,981 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets1.80%1.28%0.74%0.63%0.37%-143 bps
Return on Equity14.76%9.40%5.05%4.20%2.20%-1,256 bps
Net Interest Margin5.69%5.53%5.38%5.02%4.27%-142 bps
Efficiency Ratio52.21%66.16%66.02%67.16%92.02%+3,981 bps
Non-Interest Burden2.89%3.60%3.46%3.27%3.90%+102 bps
Growth
Asset Growth (YoY)-11.36%-16.39%-19.64%-6.88%-7.78%+358 bps
Loan Growth (YoY)-36.89%-33.82%-22.01%-0.88%-1.16%+3,573 bps
Deposit Growth (YoY)-14.17%-20.84%-24.67%-13.75%-10.46%+371 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.93%1.36%1.33%1.31%0.05%-188 bps
Allowance / Loans1.83%1.97%2.37%2.36%2.49%+66 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 Capital18.82%20.77%20.01%19.51%20.30%+148 bps
Equity / Assets14.63%16.87%17.63%16.62%17.05%+242 bps
Liquidity & Funding
Loans / Deposits68.10%71.35%77.06%77.10%75.17%+707 bps
Liquid Assets / Assets4.05%4.46%5.36%5.04%5.05%+100 bps
CRE / Total Capitaln/an/an/an/an/an/an/a