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First National Bank

Glen Rose, TX · Cert 3220

FDIC

Q3 2004

$46.0MAssets
$29.7MLoans
$41.2MDeposits
$4.6MEquity
Deposit mix
76%Interest-bearing $31.2M24%Noninterest $9.9MQ3 2003Q3 2004

NIM

6.12%Q3 ’025.33%Q3 ’035.31%Q3 ’04-6%+0%

Non-interest income vs. expense

3.50%Q3 ’023.38%Q3 ’033.41%Q3 ’04-21%+28%

Executive Summary

  • Earnings: ROA of 1.42%, down 116 bps year over year; NIM at 4.78%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.27%.
  • Funding: loans stand at 72.05% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

1.42%-116 bps YoY

Net Interest Margin (quarter, annualized)

4.78%+2 bps YoY

Efficiency Ratio (quarter, annualized)

61.19%+576 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets2.57%2.32%2.93%3.93%1.42%-116 bps
Return on Equity24.58%21.85%28.80%39.69%14.16%-1,042 bps
Net Interest Margin4.76%4.68%4.86%4.50%4.78%+2 bps
Efficiency Ratio55.44%55.18%51.10%41.47%61.19%+576 bps
Non-Interest Burden2.04%2.18%1.68%0.70%2.61%+57 bps
Growth
Asset Growth (YoY)2.97%11.51%3.35%6.12%7.26%+429 bps
Loan Growth (YoY)8.72%11.70%17.31%14.19%19.82%+1,110 bps
Deposit Growth (YoY)2.44%12.24%3.61%6.48%8.01%+557 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.65%0.16%0.17%0.27%+8 bps
Allowance / Loans1.51%1.36%1.32%1.30%1.55%+4 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 Capital19.45%18.66%17.22%17.41%17.03%-242 bps
Equity / Assets10.77%10.48%9.91%9.90%10.09%-68 bps
Liquidity & Funding
Loans / Deposits64.95%65.46%68.14%66.99%72.05%+710 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a