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Security Savings Bank, SSB

Southport, NC · Cert 28139

FDIC

Q3 2013

$212.5MAssets
$138.7MLoans
$167.5MDeposits
$4.3MEquity
Loan mix
98%RE $127.4M1%C&I $1.4M1%Consumer $1.1MQ3 2012Q3 2013
Deposit mix
91%Interest-bearing $153.0M9%Noninterest $14.5MQ3 2012Q3 2013

NIM

3.67%Q3 ’113.63%Q3 ’123.60%Q3 ’13+3%+1%

Non-interest income vs. expense

2.55%Q3 ’113.27%Q3 ’123.51%Q3 ’13+55%+11%

Executive Summary

  • Earnings: ROA of -2.81%, up 13 bps year over year; NIM at 2.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.10%.
  • Funding: loans stand at 82.83% of deposits as of Q3 2013.

Financial Results

Return on Assets (quarter, annualized)

-2.81%+13 bps YoY

Net Interest Margin (quarter, annualized)

2.33%+3 bps YoY

Efficiency Ratio (quarter, annualized)

504%+16,287 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2012Q4 2012Q1 2013Q2 2013Q3 2013YoY ΔTrend
Earnings
Return on Assets-2.95%-2.55%0.24%-0.92%-2.81%+13 bps
Return on Equity-92.73%-93.74%8.88%-33.76%-121.19%-2,846 bps
Net Interest Margin2.30%2.42%2.46%2.41%2.33%+3 bps
Efficiency Ratio341%256%93.08%143.80%504%+16,287 bps
Non-Interest Burden4.61%4.56%2.22%3.33%5.14%+53 bps
Growth
Asset Growth (YoY)-15.87%-22.10%-23.90%-22.36%-21.46%-559 bps
Loan Growth (YoY)-19.81%-20.08%-19.99%-18.62%-20.29%-49 bps
Deposit Growth (YoY)-16.98%-24.34%-25.20%-23.81%-22.71%-573 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.77%0.42%2.91%2.30%1.10%+33 bps
Allowance / Loans3.90%4.16%3.67%3.32%3.25%-64 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 Capital6.06%5.31%5.59%5.55%4.63%-142 bps
Equity / Assets2.88%2.55%2.80%2.63%2.00%-87 bps
Liquidity & Funding
Loans / Deposits80.32%87.42%88.82%85.24%82.83%+251 bps
Liquid Assets / Assets26.45%21.89%20.54%23.82%26.05%-40 bps
CRE / Total Capitaln/an/an/an/an/an/an/a