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Spivey State Bank

Swainsboro, GA · Cert 19389

FDIC · 2 branches

Q4 2014

$88.3MAssets
$66.7MLoans
$77.8MDeposits
$10.3MEquity
Loan mix
71%RE $38.5M11%C&I $6.0M18%Consumer $9.6MQ4 2013Q4 2014
Deposit mix
78%Interest-bearing $60.7M22%Noninterest $17.1MQ4 2013Q4 2014

NIM

4.21%Q4 ’124.35%Q4 ’134.42%Q4 ’14+12%+3%

Non-interest income vs. expense

3.30%Q4 ’123.43%Q4 ’133.82%Q4 ’14-3%-9%

Executive Summary

  • Earnings: ROA of 1.99%, up 18 bps year over year; NIM at 4.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.37%.
  • Funding: loans stand at 85.63% of deposits as of Q4 2014.

Financial Results

Return on Assets (quarter, annualized)

1.99%+18 bps YoY

Net Interest Margin (quarter, annualized)

4.12%+11 bps YoY

Efficiency Ratio (quarter, annualized)

64.58%-129 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2013Q1 2014Q2 2014Q3 2014Q4 2014YoY ΔTrend
Earnings
Return on Assets1.81%1.22%1.30%0.82%1.99%+18 bps
Return on Equity17.29%11.92%12.29%7.56%17.82%+53 bps
Net Interest Margin4.01%3.80%3.82%4.13%4.12%+11 bps
Efficiency Ratio65.87%72.68%72.98%75.34%64.58%-129 bps
Non-Interest Burden2.23%2.49%2.46%2.93%2.03%-20 bps
Growth
Asset Growth (YoY)-4.47%-1.72%1.86%2.64%0.16%+463 bps
Loan Growth (YoY)0.00%1.50%5.61%8.76%3.91%+391 bps
Deposit Growth (YoY)-4.22%-1.72%1.56%2.67%-1.41%+281 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.70%0.40%0.09%0.47%0.37%-33 bps
Allowance / Loans0.84%0.83%0.82%0.77%0.75%-10 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 Capital16.96%17.97%18.13%16.23%17.00%+4 bps
Equity / Assets10.26%10.22%10.89%10.69%11.68%+142 bps
Liquidity & Funding
Loans / Deposits81.25%74.87%77.80%84.74%85.63%+438 bps
Liquid Assets / Assets2.20%11.57%8.90%2.74%2.80%+60 bps
CRE / Total Capitaln/an/an/an/an/an/an/a