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Letter portraitLegal landscapeQuarterYTD

Bi-Lo Employees Credit Association

Mauldin, SC · Charter 23219

Q4 2002

$12.6MAssets
$8.6MLoans
$10.9MShares
$1.4MNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of 0.50%, up 42 bps year over year; NIM at 4.80%.
  • Asset quality: problem loans at 0.96% of loans (+16 bps YoY).
  • Capital: net worth / assets of 11.30%, up 64 bps from a year ago.
  • Funding: loans stand at 78.86% of shares as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

0.50%+42 bps YoY

Net Interest Margin (YTD, annualized)

4.80%+41 bps YoY

Efficiency Ratio (YTD, annualized)

85.78%-31 bps YoY

Net Worth / Assets

11.30%+64 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2001Q4 2001Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets0.07%0.07%0.59%0.26%0.50%+42 bps
Return on Equity0.70%0.70%5.82%2.49%4.39%+368 bps
Net Interest Margin4.39%4.35%4.28%4.49%4.80%+41 bps
Efficiency Ratio86.10%88.88%86.47%87.82%85.78%-31 bps
Growth
Asset Growth (YoY)22.23%18.92%13.46%16.11%-3.87%-2,610 bps
Loan Growth (YoY)11.95%10.33%-1.26%-3.53%-1.50%-1,345 bps
Share Growth (YoY)22.58%19.76%15.05%17.99%-3.97%-2,655 bps
Asset Quality
Delinquent Loans / Loans0.80%1.54%1.96%2.27%0.96%+16 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.92%1.33%1.14%1.32%1.12%+20 bps
Capital
Risk-Based Capital10.66%10.54%10.22%10.48%11.30%+64 bps
Net Worth / Assets10.66%10.54%10.22%10.48%11.30%+64 bps
Liquidity & Funding
Loans / Shares76.88%79.87%70.70%75.00%78.86%+198 bps
Liquid Assets / Assets26.36%23.53%30.47%26.78%22.77%-359 bps