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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 ’025.94%Q2 ’035.69%Q2 ’04-7%+8%

Non-interest income vs. expense

2.54%Q2 ’022.63%Q2 ’033.16%Q2 ’04+5%+11%

Executive Summary

  • Earnings: ROA of 1.13%, up 5 bps year over year; NIM at 4.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 111.78% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

1.13%+5 bps YoY

Net Interest Margin (quarter, annualized)

4.61%+33 bps YoY

Efficiency Ratio (quarter, annualized)

59.71%+347 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.08%1.50%1.17%0.80%1.13%+5 bps
Return on Equity11.69%15.80%12.07%8.16%11.49%-20 bps
Net Interest Margin4.28%4.53%4.49%4.78%4.61%+33 bps
Efficiency Ratio56.24%51.98%51.59%70.59%59.71%+347 bps
Non-Interest Burden2.23%2.08%2.01%3.19%2.47%+25 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 / Loans0.16%0.12%0.77%-0.02%0.15%-1 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