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Bank of Friendship

Friendship, TN · Cert 2398

FDIC

Q4 2004

$82.3MAssets
$64.3MLoans
$70.6MDeposits
$8.3MEquity
Loan mix
71%RE $23.8M29%C&I $9.6M0%Consumer $0.0MQ4 2003Q4 2004
Deposit mix
89%Interest-bearing $62.6M11%Noninterest $8.0MQ4 2003Q4 2004

NIM

6.93%Q4 ’026.67%Q4 ’036.11%Q4 ’04+3%+3%

Non-interest income vs. expense

2.39%Q4 ’024.25%Q4 ’033.95%Q4 ’04+77%-20%

Executive Summary

  • Earnings: ROA of 0.84%, up 186 bps year over year; NIM at 4.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.50%.
  • Funding: loans stand at 91.10% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

0.84%+186 bps YoY

Net Interest Margin (YTD, annualized)

4.12%+13 bps YoY

Efficiency Ratio (YTD, annualized)

84.17%-2,128 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets-1.02%0.85%1.09%1.17%0.84%+186 bps
Return on Equity-11.33%8.36%10.69%11.46%8.23%+1,956 bps
Net Interest Margin3.99%4.23%4.22%4.16%4.12%+13 bps
Efficiency Ratio105.45%79.94%79.44%77.94%84.17%-2,128 bps
Non-Interest Burden4.21%3.28%3.22%3.09%3.38%-83 bps
Growth
Asset Growth (YoY)-25.39%-22.15%-14.61%-6.88%-1.93%+2,346 bps
Loan Growth (YoY)-24.91%-14.55%-3.90%4.27%9.21%+3,412 bps
Deposit Growth (YoY)-27.27%-24.33%-14.70%-7.31%-0.66%+2,661 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.74%0.13%0.45%0.38%0.50%-123 bps
Allowance / Loans3.56%3.55%3.22%3.13%2.88%-68 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 Capital15.81%16.21%16.06%15.44%15.24%-57 bps
Equity / Assets9.93%10.36%10.25%10.20%10.12%+20 bps
Liquidity & Funding
Loans / Deposits82.87%85.66%87.99%91.32%91.10%+823 bps
Liquid Assets / Assets0.73%0.87%0.51%0.60%0.30%-43 bps
CRE / Total Capitaln/an/an/an/an/an/an/a