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Bells Banking Company

Bells, TN · Cert 1469

FDIC

Q1 2006

$31.9MAssets
$9.6MLoans
$27.0MDeposits
$4.7MEquity
Loan mix
69%RE $4.0M31%C&I $1.8M0%Consumer $0.0MQ1 2005Q1 2006
Deposit mix
89%Interest-bearing $24.1M11%Noninterest $3.0MQ1 2005Q1 2006

NIM

4.17%Q1 ’044.46%Q1 ’055.14%Q1 ’06+5%-11%

Non-interest income vs. expense

2.63%Q1 ’042.74%Q1 ’052.58%Q1 ’06+2%-3%

Executive Summary

  • Earnings: ROA of 0.49%, down 22 bps year over year; NIM at 2.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.87%.
  • Funding: loans stand at 35.67% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

0.49%-22 bps YoY

Net Interest Margin (quarter, annualized)

2.93%-37 bps YoY

Efficiency Ratio (quarter, annualized)

83.81%+607 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets0.71%0.82%0.80%0.69%0.49%-22 bps
Return on Equity5.11%5.78%5.43%4.64%3.35%-176 bps
Net Interest Margin3.30%3.59%3.53%3.06%2.93%-37 bps
Efficiency Ratio77.74%74.26%74.91%80.39%83.81%+607 bps
Non-Interest Burden2.52%2.62%2.60%2.43%2.43%-9 bps
Growth
Asset Growth (YoY)-3.46%-2.41%-2.47%-2.61%-2.18%+128 bps
Loan Growth (YoY)-8.99%-3.48%-9.81%-16.67%-12.06%-307 bps
Deposit Growth (YoY)-3.87%-3.54%-3.13%-3.19%-3.14%+74 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.04%-0.03%0.04%-0.25%0.87%+91 bps
Allowance / Loans2.06%1.98%2.11%2.47%2.19%+13 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 Capital30.20%30.83%33.14%33.92%33.82%+362 bps
Equity / Assets13.84%14.60%14.97%14.59%14.66%+82 bps
Liquidity & Funding
Loans / Deposits39.29%42.78%40.86%34.99%35.67%-362 bps
Liquid Assets / Assets19.93%23.00%23.97%21.84%16.91%-302 bps
CRE / Total Capitaln/an/an/an/an/an/an/a