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Lexington State Bank

Lexington, NC · Cert 16799

FDIC · 42 branches

Q4 2015

$2.8BAssets
$2.1BLoans
$2.0BDeposits
$292.3MEquity
Loan mix
82%RE $1.3B16%C&I $0.3B1%Consumer $0.0BQ1 2014Q4 2015
Deposit mix
79%Interest-bearing $1.5B21%Noninterest $0.4BQ1 2014Q4 2015

Market Position · Greensboro-High Point, NC · 2015 SOD (annual) · 7.3% share · #5 of 24 inst. · $0.8B of $11.6B

7.5% Guilford
15.3% Davidson
0.9% Wake
9.1% Brunswick

Executive Summary

  • Earnings: ROA of 0.11%, down 56 bps year over year; NIM at 3.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Capital: tier 1 leverage ratio of 9.48%.
  • Funding: loans stand at 107.54% of deposits as of Q4 2015.

Return on Assets (quarter, annualized)

0.11%-56 bps YoY

Net Interest Margin (quarter, annualized)

3.38%-11 bps YoY

Efficiency Ratio (quarter, annualized)

92.72%+2,308 bps YoY

Tier 1 Leverage Ratio

9.48%

NIM

3.83%Q4 ’133.74%Q4 ’143.63%Q4 ’15-1%-3%

Non-interest income vs. expense

3.80%Q4 ’132.92%Q4 ’143.70%Q4 ’15-22%+35%

Discrete quarter, annualized.

MetricQ1 2014Q2 2014Q3 2014Q4 2014Q1 2015Q2 2015Q3 2015Q4 2015YoY ΔTrend
Earnings
Return on Assets0.74%0.29%0.93%0.67%0.64%0.90%0.85%0.11%-56 bps
Return on Equity7.79%2.92%8.67%6.35%6.07%8.58%8.00%1.03%-531 bps
Net Interest Margin3.42%3.45%3.45%3.49%3.46%3.45%3.41%3.38%-11 bps
Efficiency Ratio71.29%86.57%64.07%69.65%74.13%63.28%66.13%92.72%+2,308 bps
Non-Interest Burden2.25%2.96%2.04%2.31%2.43%1.97%2.09%3.12%+81 bps
Growth
Asset Growth (YoY)19.05%40.42%35.56%28.24%34.20%14.37%13.47%11.50%-1,674 bps
Loan Growth (YoY)23.46%43.68%35.76%27.49%35.41%16.57%18.06%15.94%-1,155 bps
Deposit Growth (YoY)15.77%35.75%29.19%17.87%24.83%7.30%9.44%6.16%-1,171 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.48%0.12%0.10%0.07%0.11%0.00%0.06%-3 bps
Allowance / Loans1.69%1.32%1.30%1.22%1.12%1.06%1.05%1.00%-22 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/a9.49%9.31%9.45%9.48%n/a
Total Risk-Based Capital11.27%12.16%12.31%11.92%11.81%11.84%12.10%11.80%-12 bps
Equity / Assets9.41%10.61%10.73%10.51%10.48%10.47%10.71%10.41%-10 bps
Liquidity & Funding
Loans / Deposits88.92%93.00%94.11%98.47%96.46%101.03%101.52%107.54%+907 bps
Liquid Assets / Assets5.26%5.58%6.23%5.87%6.15%5.64%5.55%5.05%-82 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a