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Letter portraitLegal landscapeQuarterYTD

Bosque County Bank of Meridian

Meridian, TX · Cert 1491

FDIC

Q4 2008

$199.2MAssets
$157.0MLoans
$175.7MDeposits
$22.6MEquity
Deposit mix
89%Interest-bearing $155.8M11%Noninterest $19.9MQ4 2007Q4 2008

NIM

5.69%Q4 ’066.06%Q4 ’074.55%Q4 ’08-14%-30%

Non-interest income vs. expense

3.72%Q4 ’064.01%Q4 ’074.10%Q4 ’08+12%+6%

Executive Summary

  • Earnings: ROA of -2.68%, down 191 bps year over year; NIM at 2.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.38%.
  • Funding: loans stand at 89.35% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

-2.68%-191 bps YoY

Net Interest Margin (YTD, annualized)

2.23%-97 bps YoY

Efficiency Ratio (YTD, annualized)

152.38%+4,840 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets-0.77%-2.60%-2.22%-2.54%-2.68%-191 bps
Return on Equity-6.13%-20.33%-16.91%-20.02%-21.68%-1,555 bps
Net Interest Margin3.20%3.34%2.72%2.39%2.23%-97 bps
Efficiency Ratio103.98%141.40%136.15%147.23%152.38%+4,840 bps
Non-Interest Burden3.49%5.05%4.01%3.82%3.69%+20 bps
Growth
Asset Growth (YoY)42.69%45.54%53.49%55.72%53.65%+1,097 bps
Loan Growth (YoY)69.63%87.65%96.24%106.08%78.43%+880 bps
Deposit Growth (YoY)44.67%47.22%51.23%52.86%57.39%+1,272 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.25%0.50%0.46%0.38%0.38%+13 bps
Allowance / Loans1.07%1.08%1.09%1.10%1.23%+16 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 Capital10.89%10.89%12.47%10.25%11.02%+13 bps
Equity / Assets12.57%13.03%13.63%11.66%11.34%-123 bps
Liquidity & Funding
Loans / Deposits78.81%83.05%85.13%92.56%89.35%+1,054 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%2.02%+202 bps
CRE / Total Capitaln/an/an/an/an/an/an/a