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Mountain National Bank

Tucker, GA · Cert 27317

FDIC

Q2 2004

$248.1MAssets
$225.4MLoans
$201.7MDeposits
$24.8MEquity
Deposit mix
88%Interest-bearing $177.2M12%Noninterest $24.4MQ2 2003Q2 2004

NIM

6.54%Q2 ’025.88%Q2 ’035.77%Q2 ’04-10%+12%

Non-interest income vs. expense

2.57%Q2 ’022.64%Q2 ’033.47%Q2 ’04+6%+26%

Executive Summary

  • Earnings: ROA of 0.97%, down 13 bps year over year; NIM at 4.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 111.78% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

0.97%-13 bps YoY

Net Interest Margin (YTD, annualized)

4.67%+51 bps YoY

Efficiency Ratio (YTD, annualized)

65.18%+744 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.10%1.24%1.22%0.80%0.97%-13 bps
Return on Equity12.02%13.33%13.01%8.16%9.83%-219 bps
Net Interest Margin4.17%4.31%4.39%4.78%4.67%+51 bps
Efficiency Ratio57.74%55.69%54.62%70.59%65.18%+744 bps
Non-Interest Burden2.23%2.19%2.16%3.19%2.82%+59 bps
Growth
Asset Growth (YoY)4.48%-0.17%0.03%1.04%-1.31%-579 bps
Loan Growth (YoY)6.19%4.67%3.92%5.15%2.30%-389 bps
Deposit Growth (YoY)12.70%-2.40%5.51%2.86%-4.31%-1,701 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.21%0.18%0.33%-0.02%0.06%-14 bps
Allowance / Loans1.55%1.49%1.50%1.56%1.64%+10 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 Capital10.42%10.60%10.78%10.54%10.92%+49 bps
Equity / Assets9.34%9.67%9.78%9.72%9.99%+66 bps
Liquidity & Funding
Loans / Deposits104.56%113.25%107.33%113.75%111.78%+723 bps
Liquid Assets / Assets1.33%0.11%0.05%0.17%0.28%-106 bps
CRE / Total Capitaln/an/an/an/an/an/an/a