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Letter portraitLegal landscapeQuarterYTD

Citizens National Bank

Benbrook, TX · Cert 26541

FDIC

Q4 2007

$139.6MAssets
$107.2MLoans
$110.7MDeposits
$25.2MEquity
Loan mix
72%RE $65.2M27%C&I $24.6M1%Consumer $1.2MQ4 2006Q4 2007
Deposit mix
75%Interest-bearing $82.8M25%Noninterest $28.0MQ4 2006Q4 2007

NIM

6.29%Q4 ’057.66%Q4 ’061.76%Q4 ’07+15%-80%

Non-interest income vs. expense

4.75%Q4 ’054.45%Q4 ’061.31%Q4 ’07+16%-67%

Executive Summary

  • Earnings: ROA of -0.21%, up 56 bps year over year; NIM at 1.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 96.80% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

-0.21%+56 bps YoY

Net Interest Margin (YTD, annualized)

1.07%-436 bps YoY

Efficiency Ratio (YTD, annualized)

97.37%+2,700 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets-0.77%0.14%0.28%-0.21%-0.21%+56 bps
Return on Equity-8.01%1.84%3.57%-2.72%-2.18%+583 bps
Net Interest Margin5.43%4.92%4.74%5.21%1.07%-436 bps
Efficiency Ratio70.37%86.07%82.89%82.99%97.37%+2,700 bps
Non-Interest Burden3.56%4.13%3.81%4.20%1.17%-239 bps
Growth
Asset Growth (YoY)19.93%34.55%6.71%0.80%2.60%-1,733 bps
Loan Growth (YoY)23.35%18.97%7.14%-4.34%-7.74%-3,109 bps
Deposit Growth (YoY)19.87%40.30%8.90%2.27%-6.97%-2,684 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans3.21%0.18%0.32%1.50%0.02%-319 bps
Allowance / Loans1.21%1.35%1.37%1.34%1.50%+29 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 Capital10.49%10.26%10.59%10.91%12.34%+185 bps
Equity / Assets8.30%7.01%8.21%8.01%18.04%+974 bps
Liquidity & Funding
Loans / Deposits97.61%79.05%93.26%89.45%96.80%-81 bps
Liquid Assets / Assets0.14%0.17%0.23%0.19%0.17%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a