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United Security Bank

Sparta, GA · Cert 22286

FDIC

Q3 2009

$153.6MAssets
$109.4MLoans
$149.6MDeposits
$2.0MEquity
Deposit mix
94%Interest-bearing $140.8M6%Noninterest $8.8MQ3 2008Q3 2009

NIM

8.58%Q3 ’076.13%Q3 ’085.15%Q3 ’09-44%-9%

Non-interest income vs. expense

2.26%Q3 ’072.36%Q3 ’087.89%Q3 ’09+11%+243%

Executive Summary

  • Earnings: ROA of -9.50%, down 981 bps year over year; NIM at 2.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 6.84%.
  • Funding: loans stand at 73.09% of deposits as of Q3 2009.

Financial Results

Return on Assets (quarter, annualized)

-9.50%-981 bps YoY

Net Interest Margin (quarter, annualized)

2.23%-22 bps YoY

Efficiency Ratio (quarter, annualized)

266%+17,984 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets0.31%-2.19%-2.03%-6.50%-9.50%-981 bps
Return on Equity4.62%-35.00%-36.64%-150.82%-398%-40,310 bps
Net Interest Margin2.46%2.04%1.40%1.36%2.23%-22 bps
Efficiency Ratio86.59%156.49%189.16%272%266%+17,984 bps
Non-Interest Burden2.09%3.37%2.97%3.24%7.16%+507 bps
Growth
Asset Growth (YoY)13.51%12.65%13.29%4.52%-2.08%-1,560 bps
Loan Growth (YoY)12.44%3.23%-6.64%-10.45%-16.92%-2,936 bps
Deposit Growth (YoY)12.61%17.26%27.56%19.18%14.32%+171 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.46%4.82%0.16%2.36%6.84%+638 bps
Allowance / Loans1.66%0.89%1.08%2.14%2.09%+44 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 Capital9.12%8.41%8.19%6.59%3.43%-569 bps
Equity / Assets6.54%5.94%5.13%3.47%1.30%-525 bps
Liquidity & Funding
Loans / Deposits100.57%87.19%76.39%75.86%73.09%-2,748 bps
Liquid Assets / Assets0.23%0.42%0.23%0.19%0.12%-11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a