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Johnsonville State Bank

Johnsonville, SC · Cert 16420

FDIC

Q1 2007

$22.3MAssets
$10.0MLoans
$18.8MDeposits
$3.4MEquity
Deposit mix
83%Interest-bearing $15.5M17%Noninterest $3.3MQ1 2006Q1 2007

NIM

5.75%Q1 ’055.93%Q1 ’066.57%Q1 ’07-4%-4%

Non-interest income vs. expense

3.61%Q1 ’053.63%Q1 ’063.42%Q1 ’07-1%-3%

Executive Summary

  • Earnings: ROA of 0.54%, up 34 bps year over year; NIM at 4.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.48%.
  • Funding: loans stand at 53.26% of deposits as of Q1 2007.

Financial Results

Return on Assets (quarter, annualized)

0.54%+34 bps YoY

Net Interest Margin (quarter, annualized)

4.24%-16 bps YoY

Efficiency Ratio (quarter, annualized)

72.87%-3 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets0.20%0.21%0.68%-0.26%0.54%+34 bps
Return on Equity1.31%1.32%4.41%-1.66%3.58%+226 bps
Net Interest Margin4.40%4.06%4.18%4.09%4.24%-16 bps
Efficiency Ratio72.89%76.02%68.65%72.80%72.87%-3 bps
Non-Interest Burden3.05%2.98%2.73%2.82%2.96%-8 bps
Growth
Asset Growth (YoY)-5.70%-2.64%-6.20%-1.70%6.05%+1,176 bps
Loan Growth (YoY)-5.57%-9.66%-7.46%-9.98%-7.89%-231 bps
Deposit Growth (YoY)-7.16%-3.71%-7.83%-2.15%6.78%+1,394 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.59%1.61%2.80%3.74%0.48%-111 bps
Allowance / Loans1.61%1.50%1.01%1.49%1.76%+15 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 Capital31.50%31.96%31.75%31.71%33.87%+237 bps
Equity / Assets15.83%15.36%15.54%15.33%15.03%-80 bps
Liquidity & Funding
Loans / Deposits61.74%57.03%58.10%56.91%53.26%-848 bps
Liquid Assets / Assets33.75%32.67%25.76%14.58%27.65%-609 bps
CRE / Total Capitaln/an/an/an/an/an/an/a