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Cumberland Bank

Carthage, TN · Cert 31857

FDIC

Q2 2004

$282.5MAssets
$193.6MLoans
$238.0MDeposits
$22.5MEquity
Loan mix
37%RE $59.1M63%C&I $100.5M0%Consumer $0.0MQ2 2003Q2 2004
Deposit mix
89%Interest-bearing $212.8M11%Noninterest $25.2MQ2 2003Q2 2004

NIM

6.94%Q2 ’026.26%Q2 ’034.86%Q2 ’04+2%-26%

Non-interest income vs. expense

3.48%Q2 ’023.74%Q2 ’033.42%Q2 ’04+27%-19%

Executive Summary

  • Earnings: ROA of 0.50%, up 68 bps year over year; NIM at 3.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 81.33% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.50%+68 bps YoY

Net Interest Margin (quarter, annualized)

3.24%-117 bps YoY

Efficiency Ratio (quarter, annualized)

79.57%+825 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets-0.18%0.54%0.56%0.37%0.50%+68 bps
Return on Equity-2.49%7.31%7.41%4.79%6.32%+882 bps
Net Interest Margin4.41%2.41%3.54%3.44%3.24%-117 bps
Efficiency Ratio71.32%78.25%76.62%81.11%79.57%+825 bps
Non-Interest Burden2.90%1.41%2.45%2.63%2.36%-54 bps
Growth
Asset Growth (YoY)6.55%6.39%2.60%1.28%-5.34%-1,189 bps
Loan Growth (YoY)3.82%-1.62%-4.89%-9.47%-14.68%-1,850 bps
Deposit Growth (YoY)2.27%0.93%-0.16%-1.18%-5.51%-778 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.74%0.40%0.67%0.38%0.34%-240 bps
Allowance / Loans1.27%1.26%1.20%1.25%1.36%+9 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 Capital10.72%10.80%11.17%11.67%12.71%+199 bps
Equity / Assets7.31%7.43%7.60%7.73%7.95%+64 bps
Liquidity & Funding
Loans / Deposits90.07%88.92%87.04%84.29%81.33%-874 bps
Liquid Assets / Assets2.55%2.91%3.71%3.87%3.28%+73 bps
CRE / Total Capitaln/an/an/an/an/an/an/a