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First National Bank of Gaylord

Gaylord, MI · Cert 22057

FDIC

Q2 2004

$154.9MAssets
$103.6MLoans
$124.0MDeposits
$8.2MEquity
Loan mix
83%RE $55.7M16%C&I $10.8M0%Consumer $0.3MQ2 2003Q2 2004
Deposit mix
88%Interest-bearing $109.6M12%Noninterest $14.4MQ2 2003Q2 2004

NIM

7.65%Q2 ’026.07%Q2 ’035.24%Q2 ’04-15%-1%

Non-interest income vs. expense

2.75%Q2 ’023.81%Q2 ’033.22%Q2 ’04+31%-10%

Executive Summary

  • Earnings: ROA of 0.02%, up 297 bps year over year; NIM at 3.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.32%.
  • Funding: loans stand at 83.53% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.02%+297 bps YoY

Net Interest Margin (quarter, annualized)

3.15%-5 bps YoY

Efficiency Ratio (quarter, annualized)

85.25%-700 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets-2.96%0.01%-7.71%-0.51%0.02%+297 bps
Return on Equity-47.48%0.16%-134.90%-9.74%0.28%+4,776 bps
Net Interest Margin3.20%2.90%2.83%2.96%3.15%-5 bps
Efficiency Ratio92.24%79.09%132.78%101.33%85.25%-700 bps
Non-Interest Burden2.88%2.06%3.90%3.01%2.60%-28 bps
Growth
Asset Growth (YoY)-0.78%-9.48%-18.94%-25.56%-26.55%-2,576 bps
Loan Growth (YoY)-12.66%-24.81%-31.04%-31.64%-30.42%-1,776 bps
Deposit Growth (YoY)4.18%-5.97%-16.41%-23.77%-24.60%-2,878 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.28%2.93%6.98%1.28%0.32%-95 bps
Allowance / Loans4.78%5.12%5.55%5.75%6.31%+153 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 Capital10.53%11.55%9.38%9.62%9.65%-88 bps
Equity / Assets5.96%6.23%5.13%5.39%5.32%-64 bps
Liquidity & Funding
Loans / Deposits90.52%84.00%87.31%86.46%83.53%-699 bps
Liquid Assets / Assets1.75%0.69%0.77%0.70%0.36%-139 bps
CRE / Total Capitaln/an/an/an/an/an/an/a