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Smithfield State Bank of Smithfield, Pennsylvania

Smithfield, PA · Cert 17766

FDIC

Q4 2006

$249.1MAssets
$110.6MLoans
$217.6MDeposits
$29.3MEquity
Deposit mix
87%Interest-bearing $189.4M13%Noninterest $28.2MQ4 2005Q4 2006

NIM

4.76%Q4 ’044.77%Q4 ’055.87%Q4 ’06+4%+78%

Non-interest income vs. expense

1.96%Q4 ’042.20%Q4 ’053.07%Q4 ’06+2%+48%

Executive Summary

  • Earnings: ROA of 0.64%, up 34 bps year over year; NIM at 3.99%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.12%.
  • Funding: loans stand at 50.84% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

0.64%+34 bps YoY

Net Interest Margin (quarter, annualized)

3.99%+175 bps YoY

Efficiency Ratio (quarter, annualized)

71.05%-1,318 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.30%0.25%-1.81%2.48%0.64%+34 bps
Return on Equity3.63%3.10%-23.76%30.85%6.15%+252 bps
Net Interest Margin2.24%2.30%2.26%-1.52%3.99%+175 bps
Efficiency Ratio84.23%85.62%140.99%59.81%71.05%-1,318 bps
Non-Interest Burden1.85%1.93%3.36%-3.67%2.74%+89 bps
Growth
Asset Growth (YoY)-21.01%-13.89%-9.96%-3.81%5.44%+2,645 bps
Loan Growth (YoY)0.69%10.08%13.45%126.18%120.47%+11,978 bps
Deposit Growth (YoY)-20.06%-12.95%-9.06%-6.14%0.83%+2,089 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%-0.50%-0.46%0.30%-0.12%-14 bps
Allowance / Loans3.02%3.03%5.04%2.55%2.49%-53 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 Capital20.90%20.99%20.16%9.73%10.82%-1,008 bps
Equity / Assets8.16%8.05%7.19%8.90%11.76%+360 bps
Liquidity & Funding
Loans / Deposits23.25%24.52%25.16%51.10%50.84%+2,759 bps
Liquid Assets / Assets0.04%0.04%0.05%0.05%0.04%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a