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Bank of Bradford, The

Bradford, TN · Cert 2382

FDIC

Q3 2008

$37.9MAssets
$13.1MLoans
$32.8MDeposits
$4.9MEquity
Deposit mix
89%Interest-bearing $29.2M11%Noninterest $3.6MQ3 2007Q3 2008

NIM

5.11%Q3 ’066.13%Q3 ’075.48%Q3 ’08+16%-12%

Non-interest income vs. expense

2.33%Q3 ’062.59%Q3 ’072.67%Q3 ’08+11%+7%

Executive Summary

  • Earnings: ROA of 0.74%, down 33 bps year over year; NIM at 3.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.07%.
  • Funding: loans stand at 39.91% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

0.74%-33 bps YoY

Net Interest Margin (YTD, annualized)

3.32%-47 bps YoY

Efficiency Ratio (YTD, annualized)

69.13%+772 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.08%0.93%0.70%0.69%0.74%-33 bps
Return on Equity6.32%5.40%5.30%5.35%5.76%-56 bps
Net Interest Margin3.79%3.70%3.37%3.29%3.32%-47 bps
Efficiency Ratio61.41%67.34%71.10%69.84%69.13%+772 bps
Non-Interest Burden2.17%2.36%2.30%2.29%2.33%+16 bps
Growth
Asset Growth (YoY)-5.89%-1.37%0.12%4.20%2.93%+883 bps
Loan Growth (YoY)5.14%-2.06%4.40%1.94%4.56%-58 bps
Deposit Growth (YoY)-7.47%-3.09%10.13%10.63%9.50%+1,697 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%0.13%-0.23%-0.09%-0.07%-25 bps
Allowance / Loans2.37%2.65%2.48%2.39%2.34%-3 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 Capital44.46%48.26%21.62%22.70%22.92%-2,155 bps
Equity / Assets17.59%17.81%8.53%12.50%12.81%-477 bps
Liquidity & Funding
Loans / Deposits41.80%37.18%36.55%38.78%39.91%-189 bps
Liquid Assets / Assets9.87%9.40%7.93%4.75%2.93%-695 bps
CRE / Total Capitaln/an/an/an/an/an/an/a