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McIntosh State Bank

Jackson, GA · Cert 19237

FDIC

Q1 2011

$339.9MAssets
$221.9MLoans
$324.4MDeposits
$3.3MEquity
Loan mix
92%RE $171.4M5%C&I $9.6M3%Consumer $6.0MQ1 2010Q1 2011
Deposit mix
90%Interest-bearing $292.2M10%Noninterest $32.2MQ1 2010Q1 2011

NIM

4.98%Q1 ’093.90%Q1 ’103.68%Q1 ’11-15%+0%

Non-interest income vs. expense

2.27%Q1 ’093.49%Q1 ’103.56%Q1 ’11+107%+25%

Executive Summary

  • Earnings: ROA of -2.84%, up 506 bps year over year; NIM at 2.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 68.41% of deposits as of Q1 2011.

Financial Results

Return on Assets (quarter, annualized)

-2.84%+506 bps YoY

Net Interest Margin (quarter, annualized)

2.13%0 bps YoY

Efficiency Ratio (quarter, annualized)

230%+7,916 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2010Q2 2010Q3 2010Q4 2010Q1 2011YoY ΔTrend
Earnings
Return on Assets-7.90%-1.13%-1.78%-3.87%-2.84%+506 bps
Return on Equity-200%-39.08%-66.95%-183.82%-219%-1,893 bps
Net Interest Margin2.13%2.00%2.17%2.06%2.13%0 bps
Efficiency Ratio150.92%130.14%134.19%222%230%+7,916 bps
Non-Interest Burden3.31%2.87%3.21%3.92%4.15%+84 bps
Growth
Asset Growth (YoY)-11.34%-11.11%-16.89%-16.88%-13.62%-229 bps
Loan Growth (YoY)-16.56%-17.60%-18.49%-16.97%-14.50%+205 bps
Deposit Growth (YoY)-6.47%-6.24%-12.82%-13.59%-11.73%-525 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans3.65%1.44%4.15%6.78%0.04%-361 bps
Allowance / Loans4.62%4.76%4.16%3.45%3.87%-75 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 Capital5.40%5.19%4.76%3.49%2.54%-286 bps
Equity / Assets3.02%2.75%2.58%1.61%0.97%-204 bps
Liquidity & Funding
Loans / Deposits70.63%70.90%74.59%71.59%68.41%-222 bps
Liquid Assets / Assets8.65%9.37%8.85%10.94%10.31%+166 bps
CRE / Total Capitaln/an/an/an/an/an/an/a