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Progressive Savings Bank

Jamestown, TN · Cert 32021

FDIC · 7 branches

Q4 2019

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2019, the quarter ended December 31, 2019, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Progressive Savings Bank

Jamestown, TN · Cert 32021

FDIC · 7 branches

Q4 2019

$295.3MAssets
$191.9MLoans
$262.3MDeposits
$30.3MEquity
Loan mix
87%RE $140.4M9%C&I $13.9M4%Consumer $6.4MQ4 2018Q4 2019
Deposit mix
74%Interest-bearing $193.2M26%Noninterest $69.1MQ4 2018Q4 2019

NIM

3.98%Q4 ’174.20%Q4 ’184.25%Q4 ’19+7%-2%

Non-interest income vs. expense

4.20%Q4 ’174.36%Q4 ’184.51%Q4 ’19+21%+13%

Market Position · Knoxville, TN · 2019 SOD (annual) · 0.3% share · #32 of 44 inst. · $0.1B of $17.7B

8.6% Cumberland
21.5% Fentress
43.6% Morgan
1.9% Putnam

Executive Summary

  • Earnings: ROA of 0.50%, down 41 bps year over year; NIM at 3.70%.
  • Asset quality: problem loans at 1.40% of loans (+17 bps YoY), with net charge-offs at 0.17%.
  • Capital: tier 1 leverage ratio of 10.18%, down 2 bps from a year ago.
  • Funding: loans stand at 73.15% of deposits as of Q4 2019.

Financial Results

Return on Assets (YTD, annualized)

0.50%-41 bps YoY

Net Interest Margin (YTD, annualized)

3.70%-6 bps YoY

Efficiency Ratio (YTD, annualized)

87.42%+704 bps YoY

Tier 1 Leverage Ratio

10.18%-2 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2018Q1 2019Q2 2019Q3 2019Q4 2019YoY ΔTrend
Earnings
Return on Assets0.91%0.62%0.63%0.47%0.50%-41 bps
Return on Equity9.42%6.19%6.19%4.63%4.86%-456 bps
Net Interest Margin3.76%3.66%3.74%3.69%3.70%-6 bps
Efficiency Ratio80.39%84.64%84.52%87.68%87.42%+704 bps
Non-Interest Burden2.70%2.87%2.95%3.06%3.06%+36 bps
Growth
Asset Growth (YoY)-2.85%2.41%2.19%0.34%-1.24%+161 bps
Loan Growth (YoY)-3.79%-1.21%2.21%-0.33%-3.07%+71 bps
Deposit Growth (YoY)-3.80%1.83%1.56%-0.32%-1.78%+202 bps
Asset Quality
Nonperforming Loans / Loans1.23%1.16%1.71%0.89%1.40%+17 bps
Net Charge-Offs / Loans0.07%0.01%0.03%0.23%0.17%+11 bps
Allowance / Loans1.27%1.32%1.32%1.25%1.30%+3 bps
Allowance Coverage of NPLs1.0x1.1x0.8x1.4x0.9x-0.1x
Capital
Tier 1 Leverage Ratio10.20%10.11%9.97%10.20%10.18%-2 bps
Total Risk-Based Capital14.29%14.61%14.26%14.57%14.80%+51 bps
Equity / Assets10.01%10.17%10.18%10.44%10.26%+25 bps
Liquidity & Funding
Loans / Deposits74.12%73.01%75.81%74.47%73.15%-97 bps
Liquid Assets / Assets14.07%15.96%12.59%14.12%15.93%+186 bps
CRE / Total Capitaln/an/an/an/an/an/an/a