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Bank of Abbeville, The

Abbeville, SC · Cert 26964

FDIC

Q4 2003

$70.4MAssets
$38.8MLoans
$52.3MDeposits
$7.5MEquity
Loan mix
79%RE $14.0M17%C&I $3.1M3%Consumer $0.5MQ4 2002Q4 2003
Deposit mix
91%Interest-bearing $47.6M9%Noninterest $4.8MQ4 2002Q4 2003

NIM

6.59%Q4 ’015.96%Q4 ’025.16%Q4 ’03+5%-6%

Non-interest income vs. expense

2.67%Q4 ’013.16%Q4 ’023.00%Q4 ’03+1%-16%

Executive Summary

  • Earnings: ROA of 1.65%, up 42 bps year over year; NIM at 3.63%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.19%.
  • Funding: loans stand at 74.07% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

1.65%+42 bps YoY

Net Interest Margin (quarter, annualized)

3.63%-24 bps YoY

Efficiency Ratio (quarter, annualized)

60.76%-212 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.23%1.33%1.31%1.40%1.65%+42 bps
Return on Equity11.71%12.71%12.57%13.02%15.46%+374 bps
Net Interest Margin3.88%3.59%3.60%3.50%3.63%-24 bps
Efficiency Ratio62.88%62.78%61.55%61.06%60.76%-212 bps
Non-Interest Burden2.01%1.92%1.85%1.70%1.69%-32 bps
Growth
Asset Growth (YoY)0.55%-0.29%3.74%1.92%3.71%+317 bps
Loan Growth (YoY)5.47%4.14%2.93%0.63%1.13%-434 bps
Deposit Growth (YoY)4.91%3.34%4.74%0.80%-1.58%-650 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%-0.04%0.03%0.13%0.19%+2 bps
Allowance / Loans1.01%1.04%1.01%0.97%1.10%+9 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 Capital17.14%16.79%16.76%17.38%17.43%+29 bps
Equity / Assets10.67%10.19%10.73%10.70%10.64%-3 bps
Liquidity & Funding
Loans / Deposits72.09%70.32%71.63%72.36%74.07%+199 bps
Liquid Assets / Assets12.15%11.29%11.35%10.96%11.65%-50 bps
CRE / Total Capitaln/an/an/an/an/an/an/a