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Heritage First Bank, Incorporated

Lowes, KY · Cert 20761

FDIC · 3 branches

Q2 2021

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2021, the quarter ended June 30, 2021, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-10

Heritage First Bank, Incorporated

Lowes, KY · Cert 20761

FDIC · 3 branches

Q2 2021

$201.4MAssets
$115.0MLoans
$182.6MDeposits
$17.6MEquity
Loan mix
73%RE $68.2M23%C&I $21.3M4%Consumer $3.8MQ2 2020Q2 2021
Deposit mix
69%Interest-bearing $125.6M31%Noninterest $57.0MQ2 2020Q2 2021

NIM

5.45%Q2 ’194.82%Q2 ’203.89%Q2 ’21-14%-16%

Non-interest income vs. expense

4.43%Q2 ’193.66%Q2 ’202.91%Q2 ’21-17%-24%

Market Position · Rome, GA · 2021 SOD (annual) · 8.6% share · #8 of 9 inst. · $0.2B of $2.1B

Executive Summary

  • Earnings: ROA of 1.14%, up 42 bps year over year; NIM at 3.55%.
  • Asset quality: problem loans at 0.85% of loans (-73 bps YoY), with net charge-offs at 0.13%.
  • Capital: tier 1 leverage ratio of 9.00%, down 110 bps from a year ago.
  • Funding: loans stand at 63.01% of deposits as of Q2 2021.

Financial Results

Return on Assets (YTD, annualized)

1.14%+42 bps YoY

Net Interest Margin (YTD, annualized)

3.55%-67 bps YoY

Efficiency Ratio (YTD, annualized)

70.67%-541 bps YoY

Tier 1 Leverage Ratio

9.00%-110 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2020Q3 2020Q4 2020Q1 2021Q2 2021YoY ΔTrend
Earnings
Return on Assets0.72%0.69%0.74%1.25%1.14%+42 bps
Return on Equity6.81%6.57%7.17%13.24%12.43%+562 bps
Net Interest Margin4.22%3.91%3.78%3.83%3.55%-67 bps
Efficiency Ratio76.09%78.27%77.70%68.89%70.67%-541 bps
Non-Interest Burden3.07%2.93%2.80%2.46%2.34%-72 bps
Growth
Asset Growth (YoY)21.56%16.63%18.27%26.59%20.14%-143 bps
Loan Growth (YoY)12.08%2.55%2.32%-0.90%-8.54%-2,062 bps
Deposit Growth (YoY)22.82%17.51%19.41%29.02%21.67%-115 bps
Asset Quality
Nonperforming Loans / Loans1.58%1.45%1.39%0.89%0.85%-73 bps
Net Charge-Offs / Loans0.20%0.15%0.15%0.00%0.13%-7 bps
Allowance / Loans1.14%1.21%1.20%1.28%1.29%+15 bps
Allowance Coverage of NPLs0.7x0.8x0.9x1.4x1.5x+0.8x
Capital
Tier 1 Leverage Ratio10.10%9.89%9.99%9.51%9.00%-110 bps
Total Risk-Based Capital13.02%12.95%13.09%11.91%10.91%-211 bps
Equity / Assets10.03%10.04%9.96%9.01%8.74%-129 bps
Liquidity & Funding
Loans / Deposits83.82%80.28%78.03%68.57%63.01%-2,081 bps
Liquid Assets / Assets0.62%0.61%0.59%0.56%0.41%-21 bps
CRE / Total Capitaln/an/an/an/an/an/an/a