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Citizens Security Bank

Tifton, GA · Cert 16987

FDIC

Q4 2005

$183.6MAssets
$131.6MLoans
$151.0MDeposits
$16.8MEquity
Loan mix
74%RE $43.9M26%C&I $15.6M0%Consumer $0.2MQ4 2004Q4 2005
Deposit mix
85%Interest-bearing $127.6M15%Noninterest $23.4MQ4 2004Q4 2005

NIM

5.57%Q4 ’035.70%Q4 ’046.82%Q4 ’05+3%+10%

Non-interest income vs. expense

2.80%Q4 ’033.05%Q4 ’043.04%Q4 ’05+75%+40%

Executive Summary

  • Earnings: ROA of 2.00%, down 19 bps year over year; NIM at 4.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 87.19% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

2.00%-19 bps YoY

Net Interest Margin (quarter, annualized)

4.86%+43 bps YoY

Efficiency Ratio (quarter, annualized)

51.66%+107 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets2.18%1.67%1.79%1.64%2.00%-19 bps
Return on Equity22.23%17.94%20.20%18.21%22.08%-15 bps
Net Interest Margin4.43%4.28%4.85%4.89%4.86%+43 bps
Efficiency Ratio50.59%53.97%55.02%54.38%51.66%+107 bps
Non-Interest Burden1.45%1.73%2.15%2.15%2.02%+57 bps
Growth
Asset Growth (YoY)2.65%2.81%5.52%9.91%11.24%+858 bps
Loan Growth (YoY)1.06%0.68%7.59%3.32%4.92%+386 bps
Deposit Growth (YoY)3.44%5.13%6.16%9.45%12.33%+889 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.44%0.04%-0.15%0.25%-0.03%-48 bps
Allowance / Loans1.69%1.72%1.62%1.63%1.57%-12 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 Capital12.25%10.89%10.95%11.29%11.93%-32 bps
Equity / Assets10.04%8.62%9.06%8.91%9.16%-88 bps
Liquidity & Funding
Loans / Deposits93.35%89.28%97.62%92.25%87.19%-615 bps
Liquid Assets / Assets0.13%0.30%0.54%0.51%0.97%+84 bps
CRE / Total Capitaln/an/an/an/an/an/an/a