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Letter portraitLegal landscapeQuarterYTD

State National Bank of Frankfort, The

Frankfort, KY · Cert 2743

FDIC

Q1 2004

$119.8MAssets
$46.0MLoans
$100.7MDeposits
$9.2MEquity
Loan mix
77%RE $19.7M22%C&I $5.7M0%Consumer $0.1MQ1 2003Q1 2004
Deposit mix
89%Interest-bearing $89.6M11%Noninterest $11.1MQ1 2003Q1 2004

NIM

6.15%Q1 ’025.27%Q1 ’034.67%Q1 ’04-8%-5%

Non-interest income vs. expense

2.82%Q1 ’022.86%Q1 ’032.83%Q1 ’04+2%-1%

Executive Summary

  • Earnings: ROA of 0.73%, down 10 bps year over year; NIM at 3.37%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 45.74% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

0.73%-10 bps YoY

Net Interest Margin (quarter, annualized)

3.37%-19 bps YoY

Efficiency Ratio (quarter, annualized)

76.86%+288 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets0.83%0.66%0.76%0.52%0.73%-10 bps
Return on Equity11.20%8.89%10.38%7.52%10.04%-115 bps
Net Interest Margin3.56%3.25%3.27%3.56%3.37%-19 bps
Efficiency Ratio73.98%79.18%76.48%74.52%76.86%+288 bps
Non-Interest Burden2.55%2.49%2.43%2.57%2.51%-4 bps
Growth
Asset Growth (YoY)-2.04%8.59%7.12%0.61%-0.35%+170 bps
Loan Growth (YoY)-11.55%-16.78%-18.75%-21.49%-22.15%-1,060 bps
Deposit Growth (YoY)-0.90%9.55%6.02%1.03%-2.97%-207 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.04%0.29%0.60%0.03%+3 bps
Allowance / Loans2.37%2.55%2.53%2.64%2.78%+41 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 Capital13.50%13.78%13.74%13.78%14.51%+101 bps
Equity / Assets7.43%7.49%7.12%6.82%7.67%+24 bps
Liquidity & Funding
Loans / Deposits57.01%49.02%51.43%46.20%45.74%-1,127 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a