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Town-Country National Bank

Camden, AL · Cert 22621

FDIC · 1 branch

Q2 2024

$119.9MAssets
$56.7MLoans
$91.8MDeposits
$27.4MEquity
Loan mix
51%RE $27.8M23%C&I $12.4M26%Consumer $14.1MQ2 2023Q2 2024
Deposit mix
78%Interest-bearing $71.9M22%Noninterest $19.9MQ2 2023Q2 2024

NIM

4.27%Q2 ’225.29%Q2 ’235.43%Q2 ’24+1%-13%

Non-interest income vs. expense

2.84%Q2 ’222.97%Q2 ’233.35%Q2 ’24+10%+17%

Executive Summary

  • Earnings: ROA of 0.89%, down 76 bps year over year; NIM at 3.86%.
  • Asset quality: problem loans at 5.14% of loans (+368 bps YoY), with net charge-offs at 0.27%.
  • Capital: tier 1 leverage ratio of 21.15%, up 206 bps from a year ago.
  • Funding: loans stand at 61.73% of deposits as of Q2 2024.

Financial Results

Return on Assets (YTD, annualized)

0.89%-76 bps YoY

Net Interest Margin (YTD, annualized)

3.86%-58 bps YoY

Efficiency Ratio (YTD, annualized)

73.84%+1,561 bps YoY

Tier 1 Leverage Ratio

21.15%+206 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets1.65%1.53%1.36%0.91%0.89%-76 bps
Return on Equity8.32%7.70%6.72%4.16%4.03%-429 bps
Net Interest Margin4.44%4.52%4.29%3.83%3.86%-58 bps
Efficiency Ratio58.23%59.68%61.47%73.40%73.84%+1,561 bps
Non-Interest Burden2.16%2.27%2.23%2.49%2.53%+37 bps
Growth
Asset Growth (YoY)-4.53%0.54%-3.94%-3.84%-2.95%+158 bps
Loan Growth (YoY)2.18%-3.80%-10.55%-13.64%-12.53%-1,471 bps
Deposit Growth (YoY)-14.92%-8.52%-7.37%-6.27%-5.38%+954 bps
Asset Quality
Nonperforming Loans / Loans1.46%1.41%2.59%4.16%5.14%+368 bps
Net Charge-Offs / Loans-0.30%0.12%0.20%-0.01%0.27%+56 bps
Allowance / Loans2.11%2.05%2.02%2.16%2.05%-5 bps
Allowance Coverage of NPLs1.4x1.5x0.8x0.5x0.4x-1.0x
Capital
Tier 1 Leverage Ratio19.09%19.81%19.78%20.33%21.15%+206 bps
Total Risk-Based Capital19.09%19.81%19.78%20.33%21.15%+206 bps
Equity / Assets20.73%20.15%21.61%22.05%22.85%+212 bps
Liquidity & Funding
Loans / Deposits66.77%63.96%62.32%60.37%61.73%-504 bps
Liquid Assets / Assets0.60%0.64%1.28%1.96%2.14%+154 bps
CRE / Total Capitaln/an/an/an/an/an/an/a