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Letter portraitLegal landscapeQuarterYTD

Peoples Bank of Polk County

Benton, TN · Cert 21563

FDIC

Q3 2004

$23.3MAssets
$14.9MLoans
$20.4MDeposits
$2.8MEquity
Loan mix
43%RE $3.8M55%C&I $4.9M1%Consumer $0.1MQ3 2003Q3 2004
Deposit mix
83%Interest-bearing $17.0M17%Noninterest $3.4MQ3 2003Q3 2004

NIM

6.56%Q3 ’025.92%Q3 ’035.44%Q3 ’040%-6%

Non-interest income vs. expense

3.91%Q3 ’023.75%Q3 ’032.95%Q3 ’04-5%-25%

Executive Summary

  • Earnings: ROA of 1.37%, up 59 bps year over year; NIM at 4.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 73.09% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

1.37%+59 bps YoY

Net Interest Margin (quarter, annualized)

4.01%-24 bps YoY

Efficiency Ratio (quarter, annualized)

66.80%-1,431 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.78%0.74%0.71%0.05%1.37%+59 bps
Return on Equity5.74%5.45%5.44%0.43%11.25%+550 bps
Net Interest Margin4.24%4.11%4.12%3.98%4.01%-24 bps
Efficiency Ratio81.10%82.21%82.42%97.93%66.80%-1,431 bps
Non-Interest Burden3.37%3.31%3.32%3.89%2.54%-83 bps
Growth
Asset Growth (YoY)0.82%-0.37%1.21%0.47%5.46%+464 bps
Loan Growth (YoY)4.23%3.35%3.44%-0.72%0.34%-389 bps
Deposit Growth (YoY)0.17%-1.12%1.95%2.18%7.18%+701 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%-0.03%-0.03%-0.03%-0.03%0 bps
Allowance / Loans1.33%1.35%1.39%1.43%1.36%+2 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 Capital19.98%19.95%18.84%19.25%18.70%-128 bps
Equity / Assets13.52%13.58%12.54%12.15%12.20%-132 bps
Liquidity & Funding
Loans / Deposits78.08%76.99%72.96%72.23%73.09%-498 bps
Liquid Assets / Assets0.19%0.17%0.15%0.00%0.00%-19 bps
CRE / Total Capitaln/an/an/an/an/an/an/a