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Fidelity Bank

Birmingham, MI · Cert 20367

FDIC

Q4 2006

$218.0MAssets
$177.2MLoans
$189.4MDeposits
$25.7MEquity
Loan mix
54%RE $23.2M46%C&I $19.5M0%Consumer $0.1MQ4 2005Q4 2006
Deposit mix
89%Interest-bearing $168.8M11%Noninterest $20.5MQ4 2005Q4 2006

NIM

5.60%Q4 ’046.30%Q4 ’057.03%Q4 ’06-4%+8%

Non-interest income vs. expense

2.67%Q4 ’044.17%Q4 ’053.72%Q4 ’06+4%+43%

Executive Summary

  • Earnings: ROA of 1.14%, down 88 bps year over year; NIM at 4.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 93.56% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

1.14%-88 bps YoY

Net Interest Margin (quarter, annualized)

4.82%+34 bps YoY

Efficiency Ratio (quarter, annualized)

72.46%+591 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets2.02%2.10%1.82%2.06%1.14%-88 bps
Return on Equity20.57%20.32%17.68%19.91%10.12%-1,045 bps
Net Interest Margin4.48%4.76%4.71%4.53%4.82%+34 bps
Efficiency Ratio66.55%56.88%57.03%55.71%72.46%+591 bps
Non-Interest Burden2.38%2.45%2.74%2.33%3.41%+102 bps
Growth
Asset Growth (YoY)2.87%-4.47%-4.83%-9.93%-11.89%-1,476 bps
Loan Growth (YoY)-6.61%-1.86%-6.07%0.26%-4.03%+258 bps
Deposit Growth (YoY)5.22%-4.29%-4.65%-10.37%-12.82%-1,804 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.60%0.28%0.04%0.15%+12 bps
Allowance / Loans0.97%0.85%0.84%0.88%0.96%-1 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 Capital13.12%13.05%13.15%13.46%14.45%+132 bps
Equity / Assets10.08%10.61%10.01%10.73%11.80%+171 bps
Liquidity & Funding
Loans / Deposits85.00%90.80%84.09%89.62%93.56%+857 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a