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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

6.22%Q2 ’025.50%Q2 ’03-1.24%Q2 ’04+7%-123%

Non-interest income vs. expense

3.92%Q2 ’024.50%Q2 ’03-1.22%Q2 ’04-3%-125%

Executive Summary

  • Earnings: ROA of -0.27%, down 24 bps year over year; NIM at -1.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.47%.
  • Funding: loans stand at 87.35% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

-0.27%-24 bps YoY

Net Interest Margin (quarter, annualized)

-1.08%-571 bps YoY

Efficiency Ratio (quarter, annualized)

72.05%+43 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets-0.03%1.28%1.08%0.96%-0.27%-24 bps
Return on Equity-0.27%12.83%10.83%9.71%-1.64%-137 bps
Net Interest Margin4.63%4.38%4.50%4.42%-1.08%-571 bps
Efficiency Ratio71.63%76.16%70.70%73.50%72.05%+43 bps
Non-Interest Burden2.84%2.88%2.88%2.96%-0.70%-354 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 / Loans2.58%0.09%0.01%0.00%-0.47%-305 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