Citizens Bank, Inc.

Salisbury, NC · Cert 28172

FDIC

Q3 2001

$218.3MAssets

$193.0MLoans

$175.9MDeposits

$25.5MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 0.90%, up 36 bps year over year; NIM at 3.08%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
Funding: loans stand at 109.72% of deposits as of Q3 2001.

Return on Assets (quarter, annualized)

0.90%+36 bps YoY

Net Interest Margin (quarter, annualized)

3.08%

Efficiency Ratio (quarter, annualized)

55.37%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

Metric	Q4 1999	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	YoY Δ	Trend
Earnings
Return on Assets	0.77%	0.45%	0.54%	0.55%	0.55%	0.57%	0.65%	0.90%	+36 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	5.60%	7.77%	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	2.77%	2.79%	3.08%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	68.56%	63.17%	55.37%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	n/a	1.85%	1.70%	1.65%	n/a
Growth
Asset Growth (YoY)	-4.59%	-2.34%	3.26%	9.03%	7.43%	9.11%	6.58%	4.05%	-498 bps
Loan Growth (YoY)	7.98%	11.55%	16.49%	11.45%	10.48%	8.80%	7.32%	3.22%	-823 bps
Deposit Growth (YoY)	-2.82%	0.76%	1.46%	3.51%	5.28%	2.86%	4.49%	5.26%	+175 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	0.00%	0.00%	0.03%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	0.65%	0.64%	0.64%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	19.25%	18.77%	18.88%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	n/a	11.54%	11.56%	11.69%	n/a
Liquidity & Funding
Loans / Deposits	108.54%	105.83%	109.99%	111.88%	113.89%	111.94%	112.97%	109.72%	-216 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	2.78%	2.03%	2.94%	+294 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a