First Georgia Bank

Brunswick, GA · Cert 32190

FDIC

Q1 2003

$281.3MAssets

$222.1MLoans

$256.0MDeposits

$21.1MEquity

Loan mix

Deposit mix

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.

Return on Assets (YTD, annualized)

-1.20%-180 bps YoY

Net Interest Margin (YTD, annualized)

3.01%

Efficiency Ratio (YTD, annualized)

90.19%

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

Metric	Q2 2001	Q3 2001	Q4 2001	Q1 2002	Q2 2002	Q3 2002	Q4 2002	Q1 2003	YoY Δ	Trend
Earnings
Return on Assets	0.89%	0.83%	0.77%	0.60%	0.69%	0.68%	0.44%	-1.20%	-180 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-14.99%	n/a	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	3.95%	3.79%	3.01%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	77.16%	76.66%	90.19%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	n/a	2.86%	2.70%	2.61%	n/a
Growth
Asset Growth (YoY)	3.26%	2.46%	-0.31%	1.08%	2.57%	6.38%	7.02%	12.91%	+1,182 bps
Loan Growth (YoY)	-2.18%	-2.86%	-3.87%	2.51%	4.78%	14.70%	12.77%	12.23%	+972 bps
Deposit Growth (YoY)	2.94%	1.69%	-0.72%	1.25%	2.61%	3.40%	6.63%	14.78%	+1,353 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	0.06%	0.06%	2.79%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	1.04%	1.38%	1.34%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	12.45%	12.40%	11.68%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	n/a	8.75%	8.58%	7.50%	n/a
Liquidity & Funding
Loans / Deposits	85.97%	85.75%	91.00%	88.72%	87.78%	95.12%	96.24%	86.75%	-197 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	9.98%	10.67%	8.30%	+830 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a