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Sun Bank

Sunray, TX · Cert 17026

FDIC

Q1 2004

$126.9MAssets
$62.9MLoans
$105.2MDeposits
$10.0MEquity
Deposit mix
83%Interest-bearing $87.7M17%Noninterest $17.5MQ1 2003Q1 2004

NIM

5.96%Q1 ’025.26%Q1 ’034.86%Q1 ’04-13%-1%

Non-interest income vs. expense

3.57%Q1 ’023.20%Q1 ’032.59%Q1 ’04-8%-20%

Executive Summary

  • Earnings: ROA of 0.10%, down 161 bps year over year; NIM at 3.49%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 59.75% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

0.10%-161 bps YoY

Net Interest Margin (quarter, annualized)

3.49%-4 bps YoY

Efficiency Ratio (quarter, annualized)

63.95%-1,281 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.71%1.09%0.89%-0.37%0.10%-161 bps
Return on Equity19.52%13.41%11.34%-4.77%1.31%-1,821 bps
Net Interest Margin3.53%3.54%3.48%3.82%3.49%-4 bps
Efficiency Ratio76.77%81.20%75.12%105.26%63.95%-1,281 bps
Non-Interest Burden2.59%2.79%2.49%4.09%2.07%-53 bps
Growth
Asset Growth (YoY)17.58%15.02%12.83%8.26%3.99%-1,359 bps
Loan Growth (YoY)11.09%17.64%18.52%14.28%9.89%-120 bps
Deposit Growth (YoY)10.76%10.38%7.27%8.27%4.15%-661 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.10%-0.02%-0.14%0.05%0.07%-103 bps
Allowance / Loans1.25%1.18%1.18%1.25%1.98%+73 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 Capital13.03%12.35%12.71%12.71%13.26%+23 bps
Equity / Assets8.22%7.98%7.68%7.77%7.86%-36 bps
Liquidity & Funding
Loans / Deposits56.63%64.12%70.96%65.66%59.75%+312 bps
Liquid Assets / Assets0.13%0.15%0.15%0.11%0.14%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a