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Farmers Bank

Cornersville, TN · Cert 1692

FDIC

Q1 2006

$79.7MAssets
$59.4MLoans
$60.6MDeposits
$8.5MEquity
Loan mix
95%RE $38.9M5%C&I $2.2M0%Consumer $0.0MQ1 2005Q1 2006
Deposit mix
87%Interest-bearing $52.4M13%Noninterest $8.2MQ1 2005Q1 2006

NIM

5.39%Q1 ’045.46%Q1 ’056.00%Q1 ’06+2%+6%

Non-interest income vs. expense

3.09%Q1 ’043.61%Q1 ’053.39%Q1 ’06+21%-4%

Executive Summary

  • Earnings: ROA of 0.22%, down 6 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 97.91% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

0.22%-6 bps YoY

Net Interest Margin (quarter, annualized)

3.43%+19 bps YoY

Efficiency Ratio (quarter, annualized)

84.60%-769 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets0.28%0.46%0.73%0.51%0.22%-6 bps
Return on Equity2.75%4.53%7.10%4.85%2.13%-63 bps
Net Interest Margin3.24%3.50%3.38%3.53%3.43%+19 bps
Efficiency Ratio92.29%88.32%73.16%78.09%84.60%-769 bps
Non-Interest Burden2.94%3.01%2.30%2.61%2.81%-13 bps
Growth
Asset Growth (YoY)1.37%1.32%1.16%-0.79%-3.47%-485 bps
Loan Growth (YoY)3.16%2.30%1.93%3.63%-3.13%-629 bps
Deposit Growth (YoY)-1.14%-0.75%-1.61%-1.55%-3.61%-247 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.29%-0.10%0.03%0.42%0.15%+44 bps
Allowance / Loans1.54%1.56%1.57%1.50%1.66%+11 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 Capital16.74%16.73%17.00%16.62%17.38%+63 bps
Equity / Assets10.20%10.21%10.47%10.43%10.65%+45 bps
Liquidity & Funding
Loans / Deposits97.44%98.11%98.40%102.50%97.91%+48 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a