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Letter portraitLegal landscapeQuarterYTD

Citizens Bank and Trust Company

Louisville, MS · Cert 16536

FDIC

Q1 2002

$71.5MAssets
$16.6MLoans
$57.9MDeposits
$8.4MEquity
Deposit mix
87%Interest-bearing $50.6M13%Noninterest $7.3MQ1 2001Q1 2002

NIM

6.64%Q1 ’015.19%Q1 ’02-10%

Non-interest income vs. expense

3.26%Q1 ’012.83%Q1 ’02-3%

Executive Summary

  • Earnings: ROA of 0.28%, down 16 bps year over year; NIM at 2.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.27%.
  • Funding: loans stand at 28.64% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

0.28%-16 bps YoY

Net Interest Margin (YTD, annualized)

2.58%-28 bps YoY

Efficiency Ratio (YTD, annualized)

84.06%+291 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.44%0.39%0.35%0.28%0.28%-16 bps
Return on Equityn/an/an/an/a2.38%n/an/a
Net Interest Margin2.86%2.60%2.52%2.49%2.58%-28 bps
Efficiency Ratio81.15%81.87%82.31%87.09%84.06%+291 bps
Non-Interest Burden2.10%1.94%1.90%2.04%2.04%-6 bps
Growth
Asset Growth (YoY)1.13%2.50%5.08%5.73%3.46%+233 bps
Loan Growth (YoY)-17.59%-23.25%-14.78%-19.86%-17.39%+20 bps
Deposit Growth (YoY)0.80%1.18%4.43%6.14%4.67%+388 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.86%2.82%2.06%2.73%0.27%-459 bps
Allowance / Loans3.56%4.27%4.02%3.82%4.05%+49 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 Capital29.30%31.26%31.33%32.83%32.12%+282 bps
Equity / Assets12.27%12.16%12.62%12.16%11.68%-59 bps
Liquidity & Funding
Loans / Deposits36.29%31.48%33.68%29.85%28.64%-765 bps
Liquid Assets / Assets2.61%3.18%3.58%3.36%3.13%+53 bps
CRE / Total Capitaln/an/an/an/an/an/an/a