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National Bank of Commerce

Birmingham, AL · Cert 19526

FDIC

Q4 2004

$1.5BAssets
$961.5MLoans
$853.6MDeposits
$116.6MEquity
Loan mix
77%RE $286.4M23%C&I $84.3M0%Consumer $0.1MQ4 2003Q4 2004
Deposit mix
87%Interest-bearing $744.5M13%Noninterest $109.1MQ4 2003Q4 2004

NIM

4.63%Q4 ’024.09%Q4 ’034.45%Q4 ’04-3%+1%

Non-interest income vs. expense

4.35%Q4 ’023.69%Q4 ’033.68%Q4 ’04+95%+26%

Executive Summary

  • Earnings: ROA of 1.12%, up 17 bps year over year; NIM at 2.85%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.09%.
  • Funding: loans stand at 112.63% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

1.12%+17 bps YoY

Net Interest Margin (quarter, annualized)

2.85%+3 bps YoY

Efficiency Ratio (quarter, annualized)

68.81%+259 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets0.94%0.99%1.05%1.11%1.12%+17 bps
Return on Equity13.14%13.85%15.02%14.51%13.82%+68 bps
Net Interest Margin2.81%2.63%2.64%2.82%2.85%+3 bps
Efficiency Ratio66.22%71.45%70.25%68.70%68.81%+259 bps
Non-Interest Burden0.93%1.01%0.98%1.12%1.18%+25 bps
Growth
Asset Growth (YoY)1.92%-0.13%0.96%4.20%12.29%+1,038 bps
Loan Growth (YoY)15.72%14.68%9.16%9.92%9.05%-667 bps
Deposit Growth (YoY)10.08%10.50%4.01%-2.67%12.12%+204 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.11%0.38%-0.02%0.00%-0.09%-119 bps
Allowance / Loans1.32%1.25%1.27%1.26%1.26%-6 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 Capital11.24%10.50%11.03%12.56%12.01%+77 bps
Equity / Assets7.35%6.95%7.08%8.22%7.94%+59 bps
Liquidity & Funding
Loans / Deposits115.81%112.42%108.62%123.74%112.63%-317 bps
Liquid Assets / Assets14.51%18.12%20.31%19.41%18.47%+396 bps
CRE / Total Capitaln/an/an/an/an/an/an/a