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First Bank

Azle, TX · Cert 23588

FDIC

Q4 2008

$249.5MAssets
$95.5MLoans
$177.2MDeposits
$46.9MEquity
Loan mix
71%RE $32.8M29%C&I $13.5M0%Consumer $0.1MQ4 2007Q4 2008
Deposit mix
72%Interest-bearing $127.2M28%Noninterest $50.0MQ4 2007Q4 2008

NIM

6.62%Q4 ’066.34%Q4 ’074.48%Q4 ’08-8%-24%

Non-interest income vs. expense

4.28%Q4 ’063.98%Q4 ’073.57%Q4 ’08-2%-9%

Executive Summary

  • Earnings: ROA of 0.87%, down 54 bps year over year; NIM at 3.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 53.87% of deposits as of Q4 2008.

Financial Results

Return on Assets (quarter, annualized)

0.87%-54 bps YoY

Net Interest Margin (quarter, annualized)

3.47%-111 bps YoY

Efficiency Ratio (quarter, annualized)

72.94%+319 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.40%1.27%1.34%-1.94%0.87%-54 bps
Return on Equity14.43%13.08%14.26%-13.47%4.69%-974 bps
Net Interest Margin4.58%4.22%3.94%-6.15%3.47%-111 bps
Efficiency Ratio69.75%71.28%73.96%80.89%72.94%+319 bps
Non-Interest Burden2.85%2.58%2.62%-3.79%2.58%-27 bps
Growth
Asset Growth (YoY)4.96%9.86%7.55%40.09%33.52%+2,856 bps
Loan Growth (YoY)-1.69%-3.73%-3.85%-4.50%-0.22%+147 bps
Deposit Growth (YoY)6.20%11.63%7.96%27.45%7.46%+126 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.36%0.11%0.34%0.15%+17 bps
Allowance / Loans0.96%0.91%0.92%1.43%1.32%+37 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 Capital15.75%15.27%13.41%13.40%12.28%-347 bps
Equity / Assets10.01%9.47%9.30%18.26%18.78%+877 bps
Liquidity & Funding
Loans / Deposits58.01%51.84%49.99%42.91%53.87%-415 bps
Liquid Assets / Assets0.38%2.79%2.78%1.90%0.01%-37 bps
CRE / Total Capitaln/an/an/an/an/an/an/a