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First Bank and Trust of Mississippi

Winona, MS · Cert 31867

FDIC

Q3 2008

$81.0MAssets
$55.5MLoans
$70.2MDeposits
$7.4MEquity
Loan mix
92%RE $49.5M8%C&I $4.4M0%Consumer $0.1MQ3 2007Q3 2008
Deposit mix
95%Interest-bearing $66.7M5%Noninterest $3.6MQ3 2007Q3 2008

NIM

6.76%Q3 ’067.28%Q3 ’075.59%Q3 ’08+9%-31%

Non-interest income vs. expense

3.66%Q3 ’063.77%Q3 ’075.70%Q3 ’08+3%+8%

Executive Summary

  • Earnings: ROA of -3.35%, down 363 bps year over year; NIM at 2.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 78.96% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-3.35%-363 bps YoY

Net Interest Margin (quarter, annualized)

2.76%-124 bps YoY

Efficiency Ratio (quarter, annualized)

125.69%+3,465 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.28%-0.27%-1.01%-1.83%-3.35%-363 bps
Return on Equity2.87%-2.91%-10.77%-21.67%-40.54%-4,341 bps
Net Interest Margin4.00%3.50%3.23%3.01%2.76%-124 bps
Efficiency Ratio91.04%107.75%121.26%140.65%125.69%+3,465 bps
Non-Interest Burden3.63%3.79%3.95%4.33%3.92%+29 bps
Growth
Asset Growth (YoY)8.87%10.55%7.29%23.97%12.06%+319 bps
Loan Growth (YoY)42.77%33.93%23.85%17.76%6.33%-3,644 bps
Deposit Growth (YoY)1.32%18.64%6.36%29.63%20.52%+1,920 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-1.00%1.04%0.43%0.10%0.04%+104 bps
Allowance / Loans2.16%1.76%1.85%1.82%2.72%+56 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 Capital12.76%11.05%16.44%10.56%12.09%-66 bps
Equity / Assets9.56%9.05%9.65%7.44%9.14%-43 bps
Liquidity & Funding
Loans / Deposits89.50%85.95%89.97%77.93%78.96%-1,054 bps
Liquid Assets / Assets0.00%0.00%0.00%13.04%8.86%+886 bps
CRE / Total Capitaln/an/an/an/an/an/an/a