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Heritage National Bank

Granbury, TX · Cert 25233

FDIC

Q3 2005

$225.7MAssets
$106.7MLoans
$198.6MDeposits
$15.4MEquity
Deposit mix
82%Interest-bearing $162.8M18%Noninterest $35.8MQ3 2004Q3 2005

NIM

4.67%Q3 ’034.65%Q3 ’045.11%Q3 ’05+1%+5%

Non-interest income vs. expense

2.60%Q3 ’032.42%Q3 ’043.02%Q3 ’05+2%-31%

Executive Summary

  • Earnings: ROA of 1.84%, up 65 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 53.72% of deposits as of Q3 2005.

Financial Results

Return on Assets (quarter, annualized)

1.84%+65 bps YoY

Net Interest Margin (quarter, annualized)

3.19%+14 bps YoY

Efficiency Ratio (quarter, annualized)

60.94%-569 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets1.20%0.82%0.91%1.09%1.84%+65 bps
Return on Equity18.40%12.27%14.79%17.63%27.58%+919 bps
Net Interest Margin3.05%2.92%2.86%3.00%3.19%+14 bps
Efficiency Ratio66.63%74.72%73.44%70.37%60.94%-569 bps
Non-Interest Burden1.84%2.04%1.97%1.96%1.26%-58 bps
Growth
Asset Growth (YoY)6.85%5.96%9.45%3.57%-5.25%-1,210 bps
Loan Growth (YoY)18.16%13.20%10.69%15.50%13.51%-466 bps
Deposit Growth (YoY)7.61%12.90%11.46%2.88%-6.14%-1,375 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.00%0.00%0.02%0.00%+2 bps
Allowance / Loans1.55%1.55%1.55%1.44%1.57%+1 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 Capital14.46%14.18%14.22%14.11%14.94%+48 bps
Equity / Assets6.79%6.50%5.87%6.53%6.84%+5 bps
Liquidity & Funding
Loans / Deposits44.42%44.75%43.77%49.79%53.72%+930 bps
Liquid Assets / Assets1.38%0.70%0.56%0.43%0.27%-110 bps
CRE / Total Capitaln/an/an/an/an/an/an/a