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Lincoln National Bank

Oklahoma City, OK · Cert 26184

FDIC

Q4 2003

$110.0MAssets
$58.6MLoans
$91.0MDeposits
$17.4MEquity
Loan mix
68%RE $15.0M31%C&I $6.9M1%Consumer $0.1MQ4 2002Q4 2003
Deposit mix
74%Interest-bearing $67.0M26%Noninterest $24.0MQ4 2002Q4 2003

NIM

6.78%Q4 ’015.48%Q4 ’02-11.73%Q4 ’03-16%-311%

Non-interest income vs. expense

4.28%Q4 ’014.75%Q4 ’02-13.07%Q4 ’03+32%-360%

Executive Summary

  • Earnings: ROA of 2.03%, up 416 bps year over year; NIM at -7.97%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 3.14%.
  • Funding: loans stand at 64.45% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

2.03%+416 bps YoY

Net Interest Margin (quarter, annualized)

-7.97%-1,175 bps YoY

Efficiency Ratio (quarter, annualized)

70.77%-3,710 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets-2.13%0.33%10.57%-2.14%2.03%+416 bps
Return on Equity-22.89%3.68%6.57%-25.02%16.48%+3,938 bps
Net Interest Margin3.78%3.72%3.46%3.57%-7.97%-1,175 bps
Efficiency Ratio107.87%88.00%85.55%152.59%70.77%-3,710 bps
Non-Interest Burden4.12%3.16%2.78%6.06%-10.72%-1,484 bps
Growth
Asset Growth (YoY)5.46%1.17%14.19%-3.41%2.08%-338 bps
Loan Growth (YoY)-6.70%-2.83%-7.95%2.29%-4.00%+270 bps
Deposit Growth (YoY)2.16%-2.60%14.71%-0.91%3.42%+126 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans9.23%0.78%0.99%1.48%-3.14%-1,237 bps
Allowance / Loans1.05%1.00%0.97%1.05%1.86%+81 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 Capital14.60%14.41%14.62%14.36%14.81%+21 bps
Equity / Assets9.08%8.91%8.51%8.64%15.82%+674 bps
Liquidity & Funding
Loans / Deposits69.44%69.38%61.88%68.42%64.45%-498 bps
Liquid Assets / Assets1.30%2.01%1.20%0.00%0.00%-130 bps
CRE / Total Capitaln/an/an/an/an/an/an/a