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Security National Bank

Pottstown, PA · Cert 27355

FDIC

Q4 2003

$207.8MAssets
$120.9MLoans
$159.3MDeposits
$16.8MEquity
Loan mix
82%RE $55.5M17%C&I $11.2M2%Consumer $1.2MQ4 2002Q4 2003
Deposit mix
85%Interest-bearing $135.2M15%Noninterest $24.0MQ4 2002Q4 2003

NIM

6.76%Q4 ’015.72%Q4 ’024.83%Q4 ’03-13%-6%

Non-interest income vs. expense

2.52%Q4 ’012.82%Q4 ’022.75%Q4 ’03+13%-8%

Executive Summary

  • Earnings: ROA of 0.89%, down 12 bps year over year; NIM at 3.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.33%.
  • Funding: loans stand at 75.90% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

0.89%-12 bps YoY

Net Interest Margin (quarter, annualized)

3.23%-20 bps YoY

Efficiency Ratio (quarter, annualized)

66.61%+2 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.01%1.01%0.99%10.73%0.89%-12 bps
Return on Equity12.78%12.65%12.17%9.03%11.22%-156 bps
Net Interest Margin3.44%3.13%3.21%3.03%3.23%-20 bps
Efficiency Ratio66.59%74.07%80.09%74.33%66.61%+2 bps
Non-Interest Burden2.02%2.10%2.39%2.02%1.85%-17 bps
Growth
Asset Growth (YoY)14.08%18.54%8.84%6.16%4.16%-992 bps
Loan Growth (YoY)3.15%0.95%-0.47%-2.01%5.91%+276 bps
Deposit Growth (YoY)29.17%28.65%3.31%1.95%-3.60%-3,276 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.45%0.13%0.12%0.33%+29 bps
Allowance / Loans1.84%1.81%1.85%1.88%1.74%-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 Capital12.60%13.00%12.89%12.89%12.56%-4 bps
Equity / Assets7.88%8.07%8.26%7.85%8.09%+22 bps
Liquidity & Funding
Loans / Deposits69.09%67.71%73.74%70.26%75.90%+681 bps
Liquid Assets / Assets1.81%1.33%1.03%0.93%0.86%-96 bps
CRE / Total Capitaln/an/an/an/an/an/an/a