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Citizens Bank

Warrenton, GA · Cert 17258

FDIC

Q3 2004

$48.4MAssets
$21.7MLoans
$40.1MDeposits
$7.6MEquity
Deposit mix
80%Interest-bearing $31.9M20%Noninterest $8.2MQ3 2003Q3 2004

NIM

5.17%Q3 ’024.44%Q3 ’033.90%Q3 ’04-5%-10%

Non-interest income vs. expense

7.55%Q3 ’024.11%Q3 ’033.06%Q3 ’04-50%-31%

Executive Summary

  • Earnings: ROA of 0.49%, up 64 bps year over year; NIM at 3.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.28%.
  • Funding: loans stand at 54.19% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

0.49%+64 bps YoY

Net Interest Margin (quarter, annualized)

3.15%-34 bps YoY

Efficiency Ratio (quarter, annualized)

65.33%+243 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets-0.15%0.53%0.53%0.65%0.49%+64 bps
Return on Equity-0.96%3.42%3.35%4.28%3.21%+417 bps
Net Interest Margin3.49%3.41%3.12%3.04%3.15%-34 bps
Efficiency Ratio62.90%58.98%65.58%60.57%65.33%+243 bps
Non-Interest Burden3.44%2.31%2.40%2.14%2.39%-105 bps
Growth
Asset Growth (YoY)8.70%-0.54%-0.91%4.13%0.73%-797 bps
Loan Growth (YoY)7.29%23.64%26.47%32.32%6.02%-127 bps
Deposit Growth (YoY)-0.27%-2.22%-2.50%4.48%0.74%+101 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.86%0.17%-0.09%1.16%0.28%-58 bps
Allowance / Loans2.53%2.36%2.48%2.22%2.15%-37 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 Capital17.34%16.59%17.45%17.31%18.72%+138 bps
Equity / Assets15.58%15.65%15.68%14.89%15.62%+5 bps
Liquidity & Funding
Loans / Deposits51.49%57.90%55.07%52.08%54.19%+270 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