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First State Bank

Maynardville, TN · Cert 21437

FDIC

Q2 2003

$75.4MAssets
$49.5MLoans
$59.0MDeposits
$15.8MEquity
Deposit mix
80%Interest-bearing $47.0M20%Noninterest $12.0MQ2 2002Q2 2003

NIM

7.13%Q2 ’016.12%Q2 ’024.82%Q2 ’03+6%-10%

Non-interest income vs. expense

3.33%Q2 ’013.08%Q2 ’025.65%Q2 ’03-5%+69%

Executive Summary

  • Earnings: ROA of -0.93%, down 192 bps year over year; NIM at 3.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 83.99% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

-0.93%-192 bps YoY

Net Interest Margin (quarter, annualized)

3.70%-39 bps YoY

Efficiency Ratio (quarter, annualized)

107.40%+3,990 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets0.99%-3.30%-1.23%-1.45%-0.93%-192 bps
Return on Equity8.14%-24.14%-6.30%-6.87%-4.58%-1,272 bps
Net Interest Margin4.09%-4.30%3.54%3.63%3.70%-39 bps
Efficiency Ratio67.50%193.21%131.28%119.43%107.40%+3,990 bps
Non-Interest Burden2.61%0.48%5.49%4.78%4.42%+181 bps
Growth
Asset Growth (YoY)25.37%20.59%34.16%50.24%43.72%+1,835 bps
Loan Growth (YoY)4.41%4.45%26.10%94.61%123.36%+11,895 bps
Deposit Growth (YoY)28.68%17.61%20.08%38.83%27.86%-82 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.04%0.19%0.01%0.06%+6 bps
Allowance / Loans1.70%1.70%1.35%1.25%1.25%-45 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 Capital23.50%26.85%38.24%25.98%27.45%+395 bps
Equity / Assets11.25%16.13%22.61%19.78%20.91%+965 bps
Liquidity & Funding
Loans / Deposits48.08%51.93%60.59%80.47%83.99%+3,591 bps
Liquid Assets / Assets3.45%3.37%2.85%1.81%1.50%-195 bps
CRE / Total Capitaln/an/an/an/an/an/an/a