PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Mooresville Savings Bank, Inc., SSB

Mooresville, NC · Cert 29873

FDIC

Q3 2008

$158.4MAssets
$136.5MLoans
$134.8MDeposits
$16.8MEquity
Loan mix
99%RE $123.1M1%C&I $1.7M0%Consumer $0.1MQ3 2007Q3 2008
Deposit mix
98%Interest-bearing $132.2M2%Noninterest $2.6MQ3 2007Q3 2008

NIM

6.37%Q3 ’066.45%Q3 ’075.92%Q3 ’08-3%-2%

Non-interest income vs. expense

3.17%Q3 ’062.64%Q3 ’072.68%Q3 ’08-17%+2%

Executive Summary

  • Earnings: ROA of 0.28%, down 3 bps year over year; NIM at 3.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 101.26% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

0.28%-3 bps YoY

Net Interest Margin (quarter, annualized)

3.00%-7 bps YoY

Efficiency Ratio (quarter, annualized)

85.57%+337 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.31%0.49%0.22%0.16%0.28%-3 bps
Return on Equity2.76%4.46%2.03%1.47%2.59%-17 bps
Net Interest Margin3.08%2.73%2.78%2.77%3.00%-7 bps
Efficiency Ratio82.20%66.42%87.61%91.68%85.57%+337 bps
Non-Interest Burden2.50%1.76%2.42%2.53%2.55%+5 bps
Growth
Asset Growth (YoY)5.60%1.62%4.47%3.87%2.62%-298 bps
Loan Growth (YoY)3.38%2.60%0.79%1.23%2.69%-68 bps
Deposit Growth (YoY)6.80%6.39%5.29%4.61%0.12%-668 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.26%0.61%0.00%0.01%-1 bps
Allowance / Loans0.53%0.59%0.44%0.44%0.43%-11 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 Capital18.22%18.31%18.02%17.84%15.48%-274 bps
Equity / Assets10.97%11.05%10.77%10.77%10.64%-34 bps
Liquidity & Funding
Loans / Deposits98.73%100.13%96.59%97.48%101.26%+254 bps
Liquid Assets / Assets8.91%7.19%6.88%6.22%8.89%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a