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First-Nichols National Bank

Kenedy, TX · Cert 3282

FDIC

Q4 2005

$41.8MAssets
$23.1MLoans
$38.3MDeposits
$3.4MEquity
Loan mix
15%RE $2.5M76%C&I $12.7M9%Consumer $1.5MQ4 2004Q4 2005
Deposit mix
71%Interest-bearing $27.3M29%Noninterest $11.0MQ4 2004Q4 2005

NIM

3.97%Q4 ’033.93%Q4 ’044.55%Q4 ’05+9%+11%

Non-interest income vs. expense

3.47%Q4 ’033.20%Q4 ’043.64%Q4 ’05-6%+26%

Executive Summary

  • Earnings: ROA of 0.79%, down 34 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.05%.
  • Funding: loans stand at 60.24% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

0.79%-34 bps YoY

Net Interest Margin (YTD, annualized)

3.69%+36 bps YoY

Efficiency Ratio (YTD, annualized)

81.20%+629 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.13%1.56%1.26%1.29%0.79%-34 bps
Return on Equity12.37%18.89%15.00%15.21%9.34%-303 bps
Net Interest Margin3.33%3.73%3.62%3.65%3.69%+36 bps
Efficiency Ratio74.91%65.28%70.94%69.05%81.20%+629 bps
Non-Interest Burden2.26%2.11%2.32%2.26%2.85%+59 bps
Growth
Asset Growth (YoY)10.62%10.76%11.77%13.89%0.52%-1,010 bps
Loan Growth (YoY)14.89%6.91%16.56%12.46%30.50%+1,560 bps
Deposit Growth (YoY)11.77%12.68%11.79%15.07%1.06%-1,072 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%-0.02%-0.04%-0.07%-0.05%-24 bps
Allowance / Loans0.92%0.96%0.92%0.94%0.78%-14 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 Capital16.74%17.11%16.86%17.33%14.92%-182 bps
Equity / Assets8.37%8.17%8.70%8.69%8.13%-23 bps
Liquidity & Funding
Loans / Deposits46.65%46.69%50.62%49.50%60.24%+1,359 bps
Liquid Assets / Assets2.11%3.09%3.63%3.27%3.30%+119 bps
CRE / Total Capitaln/an/an/an/an/an/an/a