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Georgia State Bank

Mableton, GA · Cert 26651

FDIC

Q1 2008

$424.8MAssets
$248.9MLoans
$289.4MDeposits
$34.8MEquity
Loan mix
96%RE $161.0M3%C&I $5.8M0%Consumer $0.1MQ1 2007Q1 2008
Deposit mix
84%Interest-bearing $244.0M16%Noninterest $45.4MQ1 2007Q1 2008

NIM

6.26%Q1 ’066.86%Q1 ’072.18%Q1 ’08-11%-73%

Non-interest income vs. expense

2.26%Q1 ’062.29%Q1 ’070.94%Q1 ’08+14%-58%

Executive Summary

  • Earnings: ROA of 0.19%, down 90 bps year over year; NIM at 0.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.23%.
  • Funding: loans stand at 85.98% of deposits as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

0.19%-90 bps YoY

Net Interest Margin (quarter, annualized)

0.90%-244 bps YoY

Efficiency Ratio (quarter, annualized)

77.66%+2,252 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.09%0.87%1.02%0.42%0.19%-90 bps
Return on Equity14.04%11.31%12.96%5.18%2.27%-1,176 bps
Net Interest Margin3.34%3.61%3.49%3.13%0.90%-244 bps
Efficiency Ratio55.14%54.82%57.75%59.78%77.66%+2,252 bps
Non-Interest Burden1.48%1.54%1.67%1.52%0.63%-85 bps
Growth
Asset Growth (YoY)12.89%5.83%3.79%0.35%-3.39%-1,627 bps
Loan Growth (YoY)10.08%5.15%-2.81%-5.45%-16.75%-2,684 bps
Deposit Growth (YoY)8.95%0.22%10.09%4.04%-12.14%-2,109 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%-0.06%0.19%1.18%7.23%+716 bps
Allowance / Loans1.27%1.55%1.67%1.84%0.38%-89 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 Capital11.48%11.76%12.09%12.51%6.74%-474 bps
Equity / Assets7.54%7.83%7.83%8.32%8.19%+65 bps
Liquidity & Funding
Loans / Deposits90.74%97.65%87.07%91.54%85.98%-477 bps
Liquid Assets / Assets11.78%12.95%15.70%18.68%0.24%-1,154 bps
CRE / Total Capitaln/an/an/an/an/an/an/a