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Orangeburg National Bank

Orangeburg, SC · Cert 27116

FDIC

Q3 2008

$572.1MAssets
$446.5MLoans
$472.7MDeposits
$56.8MEquity
Loan mix
88%RE $360.6M12%C&I $50.1M0%Consumer $1.0MQ3 2007Q3 2008
Deposit mix
88%Interest-bearing $415.4M12%Noninterest $57.3MQ3 2007Q3 2008

NIM

6.77%Q3 ’066.95%Q3 ’075.85%Q3 ’08-2%-3%

Non-interest income vs. expense

2.27%Q3 ’063.35%Q3 ’073.37%Q3 ’08+40%+15%

Executive Summary

  • Earnings: ROA of 0.20%, down 71 bps year over year; NIM at 3.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.25%.
  • Funding: loans stand at 94.46% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

0.20%-71 bps YoY

Net Interest Margin (quarter, annualized)

3.76%-12 bps YoY

Efficiency Ratio (quarter, annualized)

71.42%+622 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.92%-0.39%0.86%0.71%0.20%-71 bps
Return on Equity9.51%-4.01%8.78%7.38%2.07%-745 bps
Net Interest Margin3.88%3.91%3.82%3.82%3.76%-12 bps
Efficiency Ratio65.20%81.64%68.20%68.70%71.42%+622 bps
Non-Interest Burden2.15%3.18%2.27%2.31%2.47%+31 bps
Growth
Asset Growth (YoY)150.95%-0.26%2.67%0.07%-3.03%-15,398 bps
Loan Growth (YoY)173.23%11.51%5.45%-1.19%-3.62%-17,685 bps
Deposit Growth (YoY)135.78%-0.63%1.00%-0.04%-0.61%-13,639 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.20%2.32%-0.04%0.30%0.25%+5 bps
Allowance / Loans1.27%1.10%1.21%1.27%1.53%+27 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 Capital12.64%12.33%12.69%13.10%13.28%+64 bps
Equity / Assets9.67%9.78%9.79%9.57%9.93%+26 bps
Liquidity & Funding
Loans / Deposits97.41%96.06%94.97%92.84%94.46%-295 bps
Liquid Assets / Assets0.34%0.45%0.39%0.35%0.34%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a