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Letter portraitLegal landscapeQuarterYTD

Alabama Exchange Bank

Tuskegee, AL · Cert 15696

FDIC

Q1 2008

$77.7MAssets
$36.8MLoans
$69.9MDeposits
$7.1MEquity
Deposit mix
64%Interest-bearing $45.0M36%Noninterest $24.9MQ1 2007Q1 2008

NIM

5.02%Q1 ’065.28%Q1 ’072.25%Q1 ’08+1%-55%

Non-interest income vs. expense

2.87%Q1 ’063.06%Q1 ’071.27%Q1 ’08+12%-60%

Executive Summary

  • Earnings: ROA of 0.72%, down 61 bps year over year; NIM at 1.84%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.21%.
  • Funding: loans stand at 52.58% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

0.72%-61 bps YoY

Net Interest Margin (YTD, annualized)

1.84%-221 bps YoY

Efficiency Ratio (YTD, annualized)

55.43%-249 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.32%1.41%1.43%1.41%0.72%-61 bps
Return on Equity16.93%17.85%17.93%17.27%7.98%-895 bps
Net Interest Margin4.04%4.27%4.39%4.39%1.84%-221 bps
Efficiency Ratio57.92%57.37%57.60%57.93%55.43%-249 bps
Non-Interest Burden2.04%2.13%2.20%2.18%0.82%-123 bps
Growth
Asset Growth (YoY)-1.79%-3.97%-2.82%-7.70%-5.37%-358 bps
Loan Growth (YoY)-8.16%-7.85%-8.14%-2.22%7.46%+1,562 bps
Deposit Growth (YoY)-2.25%-2.60%2.40%-1.56%-0.26%+199 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%-0.63%-0.41%-0.22%0.21%+3 bps
Allowance / Loans2.44%2.80%2.79%2.59%2.46%+2 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 Capital18.55%18.90%19.04%19.05%19.10%+55 bps
Equity / Assets7.78%8.13%8.23%8.83%9.11%+133 bps
Liquidity & Funding
Loans / Deposits48.80%50.15%50.07%53.13%52.58%+378 bps
Liquid Assets / Assets28.74%30.45%30.60%27.79%1.03%-2,772 bps
CRE / Total Capitaln/an/an/an/an/an/an/a