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Southern National Bank of Texas

Sugar Land, TX · Cert 25862

FDIC

Q1 2006

$880.0MAssets
$598.7MLoans
$751.5MDeposits
$99.8MEquity
Loan mix
60%RE $109.2M39%C&I $70.8M1%Consumer $1.1MQ1 2005Q1 2006
Deposit mix
82%Interest-bearing $614.1M18%Noninterest $137.4MQ1 2005Q1 2006

NIM

4.28%Q1 ’044.82%Q1 ’056.03%Q1 ’06+3%+20%

Non-interest income vs. expense

1.76%Q1 ’041.58%Q1 ’055.16%Q1 ’06-10%+231%

Executive Summary

  • Earnings: ROA of -0.71%, down 15 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 79.67% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

-0.71%-15 bps YoY

Net Interest Margin (quarter, annualized)

3.57%+61 bps YoY

Efficiency Ratio (quarter, annualized)

129.48%+7,871 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets-0.57%1.11%1.00%-3.33%-0.71%-15 bps
Return on Equity-5.89%11.28%10.10%-33.28%-6.68%-79 bps
Net Interest Margin2.96%3.43%3.27%3.04%3.57%+61 bps
Efficiency Ratio50.77%47.28%49.47%71.90%129.48%+7,871 bps
Non-Interest Burden1.43%1.54%1.55%2.14%4.74%+331 bps
Growth
Asset Growth (YoY)9.21%1.66%2.45%-8.28%-17.51%-2,671 bps
Loan Growth (YoY)36.71%29.76%18.95%9.04%-4.97%-4,168 bps
Deposit Growth (YoY)4.69%-4.10%-9.45%1.56%-14.97%-1,966 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.00%0.49%6.57%-0.04%-3 bps
Allowance / Loans1.39%1.41%1.40%1.07%1.17%-21 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 Capital16.98%16.54%16.91%15.74%16.88%-10 bps
Equity / Assets9.77%9.84%9.86%10.16%11.34%+157 bps
Liquidity & Funding
Loans / Deposits71.29%80.92%87.21%72.51%79.67%+838 bps
Liquid Assets / Assets6.31%9.54%9.93%11.41%10.99%+468 bps
CRE / Total Capitaln/an/an/an/an/an/an/a