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First Bank

Baton Rouge, LA · Cert 22228

FDIC

Q1 2005

$109.7MAssets
$85.1MLoans
$87.2MDeposits
$7.4MEquity
Loan mix
49%RE $15.7M51%C&I $16.1M0%Consumer $0.0MQ1 2004Q1 2005
Deposit mix
84%Interest-bearing $73.3M16%Noninterest $13.8MQ1 2004Q1 2005

NIM

6.22%Q1 ’036.09%Q1 ’046.45%Q1 ’05+7%+6%

Non-interest income vs. expense

3.10%Q1 ’033.48%Q1 ’045.28%Q1 ’05+26%+56%

Executive Summary

  • Earnings: ROA of -2.62%, down 341 bps year over year; NIM at 4.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.39%.
  • Funding: loans stand at 97.67% of deposits as of Q1 2005.

Financial Results

Return on Assets (quarter, annualized)

-2.62%-341 bps YoY

Net Interest Margin (quarter, annualized)

4.39%+25 bps YoY

Efficiency Ratio (quarter, annualized)

111.00%+3,331 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets0.79%0.85%0.92%0.63%-2.62%-341 bps
Return on Equity10.02%11.03%12.35%8.70%-37.93%-4,795 bps
Net Interest Margin4.15%4.21%4.07%4.52%4.39%+25 bps
Efficiency Ratio77.68%77.50%77.35%77.66%111.00%+3,331 bps
Non-Interest Burden3.15%3.19%3.08%3.44%4.92%+177 bps
Growth
Asset Growth (YoY)2.86%15.68%21.90%35.86%26.94%+2,408 bps
Loan Growth (YoY)2.56%10.43%21.37%31.94%35.57%+3,301 bps
Deposit Growth (YoY)4.92%17.30%23.21%25.02%23.34%+1,842 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.00%0.09%0.67%0.39%+41 bps
Allowance / Loans0.92%0.90%0.83%0.73%1.29%+36 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 Capital11.08%10.80%10.27%10.05%9.63%-145 bps
Equity / Assets7.95%7.52%7.32%7.08%6.73%-122 bps
Liquidity & Funding
Loans / Deposits88.85%86.13%88.71%98.28%97.67%+881 bps
Liquid Assets / Assets15.03%18.11%14.08%15.97%12.61%-242 bps
CRE / Total Capitaln/an/an/an/an/an/an/a