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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 ’124.77%Q2 ’124.83%Q2 ’13+6%+6%

Non-interest income vs. expense

3.37%Q1 ’124.59%Q2 ’124.07%Q2 ’13-34%+88%

Executive Summary

  • Earnings: ROA of 1.13%, down 50 bps year over year; NIM at 4.19%.
  • 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 (quarter, annualized)

1.13%-50 bps YoY

Net Interest Margin (quarter, annualized)

4.19%+24 bps YoY

Efficiency Ratio (quarter, annualized)

68.02%+559 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2012Q3 2012Q4 2012Q1 2013Q2 2013YoY ΔTrend
Earnings
Return on Assets1.64%0.98%1.19%0.83%1.13%-50 bps
Return on Equity17.79%10.23%11.92%8.09%10.68%-711 bps
Net Interest Margin3.94%4.18%4.50%4.28%4.19%+24 bps
Efficiency Ratio62.44%64.28%65.04%65.93%68.02%+559 bps
Non-Interest Burden1.25%2.17%2.33%2.24%2.36%+110 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 / Loans0.99%1.06%0.99%0.97%0.99%0 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