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Citizens South Bank

Gastonia, NC · Cert 28833

FDIC

Q3 2012

$938.2MAssets
$707.6MLoans
$826.7MDeposits
$93.6MEquity
Loan mix
91%RE $514.2M8%C&I $45.4M1%Consumer $6.2MQ3 2011Q3 2012
Deposit mix
88%Interest-bearing $729.1M12%Noninterest $97.6MQ3 2011Q3 2012

NIM

3.92%Q1 ’123.83%Q2 ’123.99%Q3 ’12-2%+7%

Non-interest income vs. expense

2.78%Q1 ’122.75%Q2 ’128.38%Q3 ’12+1%+251%

Executive Summary

  • Earnings: ROA of -3.33%, down 364 bps year over year; NIM at 3.36%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.17%.
  • Funding: loans stand at 85.59% of deposits as of Q3 2012.

Financial Results

Return on Assets (quarter, annualized)

-3.33%-364 bps YoY

Net Interest Margin (quarter, annualized)

3.36%

Efficiency Ratio (quarter, annualized)

255%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2011Q4 2011Q1 2012Q2 2012Q3 2012YoY ΔTrend
Earnings
Return on Assets0.30%0.10%-0.72%-0.11%-3.33%-364 bps
Return on Equityn/an/a-7.46%-1.11%-33.88%n/a
Net Interest Marginn/a3.08%3.20%3.15%3.36%n/a
Efficiency Ration/a71.86%76.06%77.78%255%n/a
Non-Interest Burdenn/an/a2.39%2.41%8.48%n/a
Growth
Asset Growth (YoY)0.54%1.64%3.11%-6.36%-14.62%-1,517 bps
Loan Growth (YoY)-1.09%1.08%2.75%-2.88%-4.21%-313 bps
Deposit Growth (YoY)2.88%3.03%4.63%-5.81%-7.35%-1,023 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/a1.59%3.51%1.06%0.17%n/a
Allowance / Loansn/a1.59%1.58%1.63%1.68%n/a
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 Capitaln/a15.61%15.50%15.59%14.49%n/a
Equity / Assetsn/a9.67%9.52%9.73%9.97%n/a
Liquidity & Funding
Loans / Deposits82.79%83.81%83.92%84.16%85.59%+281 bps
Liquid Assets / Assets0.00%15.82%18.95%19.03%11.61%+1,161 bps
CRE / Total Capitaln/an/an/an/an/an/an/a