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First Nation Bank

Covington, GA · Cert 18869

FDIC

Q2 2007

$486.3MAssets
$341.5MLoans
$367.7MDeposits
$96.9MEquity
Loan mix
95%RE $288.7M5%C&I $14.8M0%Consumer $1.4MQ2 2006Q2 2007
Deposit mix
90%Interest-bearing $330.3M10%Noninterest $37.4MQ2 2006Q2 2007

NIM

4.96%Q2 ’056.47%Q2 ’066.47%Q2 ’07+21%-13%

Non-interest income vs. expense

2.67%Q2 ’052.71%Q2 ’062.70%Q2 ’07+4%+12%

Executive Summary

  • Earnings: ROA of 0.10%, down 144 bps year over year; NIM at 3.81%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.95%.
  • Funding: loans stand at 92.87% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

0.10%-144 bps YoY

Net Interest Margin (quarter, annualized)

3.81%-57 bps YoY

Efficiency Ratio (quarter, annualized)

54.37%+756 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets1.54%1.40%1.37%1.13%0.10%-144 bps
Return on Equity7.69%7.06%6.89%5.65%0.52%-717 bps
Net Interest Margin4.38%4.32%4.07%3.75%3.81%-57 bps
Efficiency Ratio46.82%46.85%54.82%52.85%54.37%+756 bps
Non-Interest Burden1.62%1.59%1.87%1.68%1.81%+19 bps
Growth
Asset Growth (YoY)7.68%7.30%4.10%0.07%-0.73%-841 bps
Loan Growth (YoY)11.28%8.77%-0.97%-4.45%-3.62%-1,489 bps
Deposit Growth (YoY)10.04%11.17%12.53%7.88%-1.10%-1,115 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.28%0.60%0.59%0.18%0.95%+67 bps
Allowance / Loans1.53%1.58%1.50%1.54%2.02%+49 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 Capital11.32%11.11%11.34%11.13%10.90%-42 bps
Equity / Assets20.11%19.61%20.07%20.04%19.92%-19 bps
Liquidity & Funding
Loans / Deposits95.30%91.09%88.47%89.34%92.87%-242 bps
Liquid Assets / Assets0.00%0.01%0.00%0.02%0.02%+2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a