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First National Bank

Haskell, TX · Cert 25881

FDIC

Q4 2004

$31.5MAssets
$20.4MLoans
$29.5MDeposits
$1.7MEquity
Deposit mix
78%Interest-bearing $22.9M22%Noninterest $6.6MQ4 2003Q4 2004

NIM

8.01%Q4 ’021.04%Q4 ’035.13%Q4 ’04-87%+337%

Non-interest income vs. expense

5.31%Q4 ’022.99%Q4 ’036.58%Q4 ’04-13%+149%

Executive Summary

  • Earnings: ROA of -9.36%, down 693 bps year over year; NIM at 3.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 26.26%.
  • Funding: loans stand at 68.98% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

-9.36%-693 bps YoY

Net Interest Margin (YTD, annualized)

3.13%+241 bps YoY

Efficiency Ratio (YTD, annualized)

263%+18,851 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-2.42%-0.98%-12.65%-10.34%-9.36%-693 bps
Return on Equity-37.49%-11.95%-197.94%-172.56%-158.97%-12,148 bps
Net Interest Margin0.72%3.68%2.52%2.73%3.13%+241 bps
Efficiency Ratio74.26%127.45%404%251%263%+18,851 bps
Non-Interest Burden2.90%4.54%6.52%5.70%7.21%+431 bps
Growth
Asset Growth (YoY)11.80%8.24%10.54%0.65%-19.70%-3,151 bps
Loan Growth (YoY)4.30%-0.07%-15.72%-21.07%-28.86%-3,315 bps
Deposit Growth (YoY)15.06%10.48%9.40%-2.34%-17.70%-3,276 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.37%7.80%23.99%18.12%26.26%+2,589 bps
Allowance / Loans9.69%8.45%10.58%13.94%5.98%-371 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 Capital10.91%10.25%0.84%3.28%2.69%-822 bps
Equity / Assets8.21%8.18%2.67%4.67%5.39%-281 bps
Liquidity & Funding
Loans / Deposits79.80%77.37%69.23%69.76%68.98%-1,082 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a