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Independent Bank & Trust Company

Powder Springs, GA · Cert 32735

FDIC

Q3 2002

$223.7MAssets
$167.8MLoans
$197.7MDeposits
$18.2MEquity
Loan mix
65%RE $29.7M34%C&I $15.7M1%Consumer $0.4MQ3 2001Q3 2002
Deposit mix
88%Interest-bearing $173.3M12%Noninterest $24.4MQ3 2001Q3 2002

NIM

8.68%Q1 ’018.40%Q3 ’015.52%Q3 ’020%-35%

Non-interest income vs. expense

3.56%Q1 ’013.65%Q3 ’012.82%Q3 ’02+1%-34%

Executive Summary

  • Earnings: ROA of 0.68%, down 30 bps year over year; NIM at 3.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 84.86% of deposits as of Q3 2002.

Financial Results

Return on Assets (YTD, annualized)

0.68%-30 bps YoY

Net Interest Margin (YTD, annualized)

3.08%-163 bps YoY

Efficiency Ratio (YTD, annualized)

72.64%+391 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets0.98%0.88%0.48%0.72%0.68%-30 bps
Return on Equityn/an/a5.73%8.54%8.12%n/a
Net Interest Margin4.70%4.51%3.79%3.43%3.08%-163 bps
Efficiency Ratio68.73%71.02%80.56%72.74%72.64%+391 bps
Non-Interest Burden3.04%3.04%2.90%2.27%2.02%-102 bps
Growth
Asset Growth (YoY)-1.34%7.86%20.00%38.46%45.08%+4,642 bps
Loan Growth (YoY)7.49%18.35%33.91%38.70%55.95%+4,847 bps
Deposit Growth (YoY)-2.41%5.72%26.26%39.35%48.31%+5,072 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%0.03%0.02%0.02%0.02%-2 bps
Allowance / Loans1.53%1.35%1.18%1.12%1.11%-42 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 Capital12.62%11.33%10.08%10.41%10.33%-229 bps
Equity / Assets9.83%9.32%7.70%8.43%8.15%-168 bps
Liquidity & Funding
Loans / Deposits80.70%88.59%84.80%86.59%84.86%+416 bps
Liquid Assets / Assets0.27%0.19%0.17%9.52%0.00%-27 bps
CRE / Total Capitaln/an/an/an/an/an/an/a