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Citizens Bank - Wakulla

Crawfordville, FL · Cert 27067

FDIC

Q2 2006

$82.8MAssets
$55.7MLoans
$57.6MDeposits
$12.1MEquity
Loan mix
69%RE $12.6M31%C&I $5.6M0%Consumer $0.0MQ2 2005Q2 2006
Deposit mix
90%Interest-bearing $51.9M10%Noninterest $5.7MQ2 2005Q2 2006

NIM

5.02%Q2 ’045.09%Q2 ’055.86%Q2 ’06+3%-8%

Non-interest income vs. expense

3.84%Q2 ’043.05%Q2 ’051.67%Q2 ’06-32%-57%

Executive Summary

  • Earnings: ROA of 1.70%, up 80 bps year over year; NIM at 3.53%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
  • Funding: loans stand at 96.70% of deposits as of Q2 2006.

Financial Results

Return on Assets (YTD, annualized)

1.70%+80 bps YoY

Net Interest Margin (YTD, annualized)

3.53%-32 bps YoY

Efficiency Ratio (YTD, annualized)

34.55%-2,165 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.90%1.01%1.05%1.39%1.70%+80 bps
Return on Equity5.54%6.34%6.55%8.87%11.10%+556 bps
Net Interest Margin3.85%3.73%3.81%3.55%3.53%-32 bps
Efficiency Ratio56.20%54.00%51.14%42.01%34.55%-2,165 bps
Non-Interest Burden1.93%1.77%1.69%1.13%0.83%-110 bps
Growth
Asset Growth (YoY)23.56%26.50%4.10%21.65%14.15%-941 bps
Loan Growth (YoY)57.09%66.52%80.97%65.37%51.58%-551 bps
Deposit Growth (YoY)12.85%15.18%-1.96%24.10%-4.06%-1,691 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.73%0.48%0.40%0.02%0.18%-55 bps
Allowance / Loans1.99%1.96%1.81%1.71%1.47%-52 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 Capital12.27%11.88%11.80%11.45%10.75%-153 bps
Equity / Assets15.65%15.47%15.91%15.47%14.60%-105 bps
Liquidity & Funding
Loans / Deposits61.20%64.17%77.30%79.03%96.70%+3,550 bps
Liquid Assets / Assets0.40%0.50%0.45%0.37%0.13%-27 bps
CRE / Total Capitaln/an/an/an/an/an/an/a