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Guaranty Bank

Charlottesville, VA · Cert 32073

FDIC

Q2 2004

$254.8MAssets
$171.2MLoans
$196.0MDeposits
$55.2MEquity
Loan mix
88%RE $59.7M11%C&I $7.3M1%Consumer $0.5MQ2 2003Q2 2004
Deposit mix
78%Interest-bearing $153.1M22%Noninterest $42.9MQ2 2003Q2 2004

NIM

6.37%Q2 ’025.54%Q2 ’031.44%Q2 ’04+8%-73%

Non-interest income vs. expense

3.92%Q2 ’024.43%Q2 ’031.05%Q2 ’04-33%-55%

Executive Summary

  • Earnings: ROA of 0.30%, down 93 bps year over year; NIM at 1.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.23%.
  • Funding: loans stand at 87.35% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

0.30%-93 bps YoY

Net Interest Margin (YTD, annualized)

1.26%-333 bps YoY

Efficiency Ratio (YTD, annualized)

65.97%+380 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.24%1.25%1.20%0.96%0.30%-93 bps
Return on Equity10.38%10.93%10.83%9.71%2.10%-828 bps
Net Interest Margin4.59%4.51%4.39%4.42%1.26%-333 bps
Efficiency Ratio62.17%66.46%67.39%73.50%65.97%+380 bps
Non-Interest Burden1.90%2.22%2.33%2.96%0.85%-104 bps
Growth
Asset Growth (YoY)-10.07%-3.17%1.12%10.27%34.09%+4,417 bps
Loan Growth (YoY)-2.84%-9.51%-4.52%2.64%6.53%+937 bps
Deposit Growth (YoY)-4.64%1.99%2.51%12.47%15.55%+2,019 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.28%0.94%0.68%0.00%-0.23%-152 bps
Allowance / Loans1.38%1.31%1.27%1.25%1.33%-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 Capital13.37%13.81%13.70%13.34%12.04%-133 bps
Equity / Assets10.04%9.91%10.00%9.74%21.66%+1,162 bps
Liquidity & Funding
Loans / Deposits94.75%86.39%90.06%89.04%87.35%-740 bps
Liquid Assets / Assets4.11%11.61%7.90%7.84%2.11%-201 bps
CRE / Total Capitaln/an/an/an/an/an/an/a