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First Federal Savings and Loan Association of Charleston

Charleston, SC · Cert 28994

FDIC

Q2 2013

$3.2BAssets
$2.5BLoans
$2.6BDeposits
$341.4MEquity
Loan mix
79%RE $1.8B4%C&I $0.1B17%Consumer $0.4BQ2 2012Q2 2013
Deposit mix
83%Interest-bearing $2.1B17%Noninterest $0.4BQ2 2012Q2 2013

NIM

4.67%Q1 ’124.58%Q2 ’124.91%Q2 ’130%+14%

Non-interest income vs. expense

3.37%Q1 ’123.89%Q2 ’124.11%Q2 ’13-20%+52%

Executive Summary

  • Earnings: ROA of 0.98%, down 2 bps year over year; NIM at 4.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.99%.
  • Funding: loans stand at 96.09% of deposits as of Q2 2013.

Financial Results

Return on Assets (YTD, annualized)

0.98%-2 bps YoY

Net Interest Margin (YTD, annualized)

4.24%+51 bps YoY

Efficiency Ratio (YTD, annualized)

66.95%+370 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2012Q3 2012Q4 2012Q1 2013Q2 2013YoY ΔTrend
Earnings
Return on Assets1.00%1.00%1.05%0.83%0.98%-2 bps
Return on Equityn/an/an/a8.09%9.40%n/a
Net Interest Margin3.73%3.92%4.13%4.28%4.24%+51 bps
Efficiency Ratio63.25%63.58%63.95%65.93%66.95%+370 bps
Non-Interest Burden1.52%1.75%1.92%2.24%2.30%+79 bps
Growth
Asset Growth (YoY)2.71%1.26%2.20%2.30%-3.97%-668 bps
Loan Growth (YoY)12.75%9.77%7.29%4.33%-9.06%-2,181 bps
Deposit Growth (YoY)14.25%12.27%14.70%13.64%-6.18%-2,043 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.20%1.17%1.16%0.97%0.99%-21 bps
Allowance / Loans1.81%1.76%1.73%1.89%1.76%-5 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 Capital14.13%14.78%15.37%15.92%16.57%+244 bps
Equity / Assets9.33%9.75%10.17%10.41%10.79%+146 bps
Liquidity & Funding
Loans / Deposits99.14%99.67%97.58%95.98%96.09%-305 bps
Liquid Assets / Assets0.96%1.61%2.26%2.94%3.82%+286 bps
CRE / Total Capitaln/an/an/an/an/an/an/a