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Bank of Belfast

Belfast, TN · Cert 1465

FDIC

Q1 2002

$22.6MAssets
$12.4MLoans
$20.1MDeposits
$2.4MEquity
Loan mix
78%RE $5.1M18%C&I $1.1M5%Consumer $0.3MQ1 2001Q1 2002
Deposit mix
87%Interest-bearing $17.5M13%Noninterest $2.6MQ1 2001Q1 2002

NIM

8.71%Q1 ’017.57%Q1 ’02+9%

Non-interest income vs. expense

4.01%Q1 ’013.78%Q1 ’02-9%

Executive Summary

  • Earnings: ROA of 1.23%, up 50 bps year over year; NIM at 4.96%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.94%.
  • Funding: loans stand at 61.51% of deposits as of Q1 2002.

Financial Results

Return on Assets (quarter, annualized)

1.23%+50 bps YoY

Net Interest Margin (quarter, annualized)

4.96%+40 bps YoY

Efficiency Ratio (quarter, annualized)

64.24%-932 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.72%0.79%0.51%0.88%1.23%+50 bps
Return on Equityn/a7.35%4.67%8.10%11.37%n/a
Net Interest Margin4.57%4.54%4.35%4.42%4.96%+40 bps
Efficiency Ratio73.56%72.97%73.14%65.54%64.24%-932 bps
Non-Interest Burden3.12%3.08%2.96%2.59%2.86%-27 bps
Growth
Asset Growth (YoY)-0.03%2.82%3.11%4.74%3.72%+375 bps
Loan Growth (YoY)-12.55%-15.57%-20.66%-17.34%-11.23%+132 bps
Deposit Growth (YoY)-0.73%2.22%2.70%4.77%3.74%+446 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.46%0.42%0.19%2.47%0.94%-53 bps
Allowance / Loans1.06%1.15%1.52%1.55%1.55%+48 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 Capital18.86%19.33%19.96%20.26%21.00%+214 bps
Equity / Assets10.62%10.98%10.97%10.75%10.81%+19 bps
Liquidity & Funding
Loans / Deposits71.88%70.11%64.61%63.36%61.51%-1,037 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a