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First Citizens Bank

Talladega, AL · Cert 2778

FDIC

Q1 2005

$105.5MAssets
$49.0MLoans
$87.8MDeposits
$7.9MEquity
Deposit mix
82%Interest-bearing $72.5M18%Noninterest $15.4MQ1 2004Q1 2005

NIM

5.60%Q1 ’034.99%Q1 ’045.06%Q1 ’050%+1%

Non-interest income vs. expense

2.52%Q1 ’032.14%Q1 ’042.22%Q1 ’05-14%-2%

Executive Summary

  • Earnings: ROA of 1.80%, up 3 bps year over year; NIM at 3.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 55.76% of deposits as of Q1 2005.

Financial Results

Return on Assets (quarter, annualized)

1.80%+3 bps YoY

Net Interest Margin (quarter, annualized)

3.82%+4 bps YoY

Efficiency Ratio (quarter, annualized)

46.71%+35 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets1.77%1.80%1.86%1.92%1.80%+3 bps
Return on Equity26.25%26.13%25.83%25.44%23.91%-234 bps
Net Interest Margin3.78%3.75%3.93%3.96%3.82%+4 bps
Efficiency Ratio46.36%46.20%44.49%44.66%46.71%+35 bps
Non-Interest Burden1.37%1.29%1.27%1.32%1.34%-3 bps
Growth
Asset Growth (YoY)11.75%8.73%-2.19%-5.19%-7.05%-1,880 bps
Loan Growth (YoY)13.94%7.00%6.56%3.56%1.31%-1,263 bps
Deposit Growth (YoY)0.52%1.80%0.37%4.03%1.66%+114 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.00%-0.06%0.00%0.06%+7 bps
Allowance / Loans1.22%1.23%1.25%1.26%1.26%+4 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 Capital14.33%15.75%15.63%16.00%16.25%+193 bps
Equity / Assets6.85%6.96%7.46%7.62%7.47%+62 bps
Liquidity & Funding
Loans / Deposits55.96%55.48%58.32%56.90%55.76%-19 bps
Liquid Assets / Assets18.09%18.58%18.12%17.61%17.32%-77 bps
CRE / Total Capitaln/an/an/an/an/an/an/a