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First Security National Bank

Norcross, GA · Cert 26290

FDIC

Q3 2009

$127.5MAssets
$51.2MLoans
$121.6MDeposits
$2.5MEquity
Loan mix
80%RE $34.4M20%C&I $8.8M0%Consumer $0.0MQ3 2008Q3 2009
Deposit mix
85%Interest-bearing $103.5M15%Noninterest $18.2MQ3 2008Q3 2009

NIM

8.72%Q3 ’073.12%Q3 ’082.69%Q3 ’09-98%-46%

Non-interest income vs. expense

3.41%Q3 ’073.90%Q3 ’084.58%Q3 ’09+31%+111%

Executive Summary

  • Earnings: ROA of -8.00%, down 412 bps year over year; NIM at 0.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.46%.
  • Funding: loans stand at 42.07% of deposits as of Q3 2009.

Financial Results

Return on Assets (quarter, annualized)

-8.00%-412 bps YoY

Net Interest Margin (quarter, annualized)

0.06%-5 bps YoY

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets-3.88%-5.17%-13.73%-7.35%-8.00%-412 bps
Return on Equity-37.04%-53.72%-191.04%-155.81%-272%-23,487 bps
Net Interest Margin0.10%0.24%0.86%-0.49%0.06%-5 bps
Efficiency Ratio2203%849%n/an/an/an/a
Non-Interest Burden3.83%4.99%9.64%6.84%8.08%+425 bps
Growth
Asset Growth (YoY)-11.55%-4.96%-2.24%-12.56%-6.42%+514 bps
Loan Growth (YoY)-37.44%-37.39%-44.84%-45.63%-37.06%+39 bps
Deposit Growth (YoY)-10.69%-1.68%5.14%-6.23%2.18%+1,287 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.14%1.45%4.35%0.76%7.46%+633 bps
Allowance / Loans1.99%2.20%4.17%4.35%2.87%+88 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 Capital12.48%11.18%8.11%6.56%4.13%-834 bps
Equity / Assets10.35%8.90%5.46%3.92%1.95%-840 bps
Liquidity & Funding
Loans / Deposits68.29%58.90%47.96%46.27%42.07%-2,622 bps
Liquid Assets / Assets0.00%0.00%20.48%21.58%25.84%+2,584 bps
CRE / Total Capitaln/an/an/an/an/an/an/a