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First Georgia Bank

Brunswick, GA · Cert 32190

FDIC

Q1 2003

$281.3MAssets
$222.1MLoans
$256.0MDeposits
$21.1MEquity
Loan mix
86%RE $108.8M11%C&I $13.6M3%Consumer $3.6MQ1 2002Q1 2003
Deposit mix
93%Interest-bearing $238.9M7%Noninterest $17.1MQ1 2002Q1 2003

NIM

6.20%Q4 ’025.18%Q1 ’03-22%

Non-interest income vs. expense

3.89%Q4 ’024.01%Q1 ’03-1%

Executive Summary

  • Earnings: ROA of -1.20%, down 180 bps year over year; NIM at 3.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.79%.
  • Funding: loans stand at 86.75% of deposits as of Q1 2003.

Financial Results

Return on Assets (quarter, annualized)

-1.20%-180 bps YoY

Net Interest Margin (quarter, annualized)

3.01%

Efficiency Ratio (quarter, annualized)

90.19%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets0.60%0.69%0.65%-0.24%-1.20%-180 bps
Return on Equityn/an/an/a-2.81%-14.99%n/a
Net Interest Marginn/an/a3.72%3.87%3.01%n/a
Efficiency Ration/an/a77.95%75.27%90.19%n/a
Non-Interest Burdenn/an/an/a2.64%2.61%n/a
Growth
Asset Growth (YoY)1.08%2.57%6.38%7.02%12.91%+1,182 bps
Loan Growth (YoY)2.51%4.78%14.70%12.77%12.23%+972 bps
Deposit Growth (YoY)1.25%2.61%3.40%6.63%14.78%+1,353 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/an/a0.26%0.06%2.79%n/a
Allowance / Loansn/an/a1.04%1.38%1.34%n/a
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 Capitaln/an/a12.45%12.40%11.68%n/a
Equity / Assetsn/an/a8.75%8.58%7.50%n/a
Liquidity & Funding
Loans / Deposits88.72%87.78%95.12%96.24%86.75%-197 bps
Liquid Assets / Assets0.00%0.00%9.98%10.67%8.30%+830 bps
CRE / Total Capitaln/an/an/an/an/an/an/a