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First National Bank of South Georgia

Albany, GA · Cert 33416

FDIC

Q4 2005

$103.1MAssets
$91.4MLoans
$78.8MDeposits
$7.7MEquity
Loan mix
66%RE $35.0M34%C&I $17.7M0%Consumer $0.2MQ4 2004Q4 2005
Deposit mix
89%Interest-bearing $70.3M11%Noninterest $8.5MQ4 2004Q4 2005

NIM

5.68%Q4 ’035.91%Q4 ’046.94%Q4 ’05+2%+0%

Non-interest income vs. expense

2.39%Q4 ’032.75%Q4 ’042.55%Q4 ’05+29%-8%

Executive Summary

  • Earnings: ROA of 1.48%, up 44 bps year over year; NIM at 4.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.14%.
  • Funding: loans stand at 115.96% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

1.48%+44 bps YoY

Net Interest Margin (quarter, annualized)

4.13%+1 bps YoY

Efficiency Ratio (quarter, annualized)

53.92%-394 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.04%0.76%1.17%1.03%1.48%+44 bps
Return on Equity12.96%10.30%16.60%15.23%20.94%+798 bps
Net Interest Margin4.12%3.92%4.24%4.12%4.13%+1 bps
Efficiency Ratio57.86%62.10%59.17%59.38%53.92%-394 bps
Non-Interest Burden2.11%2.20%2.13%2.14%1.95%-16 bps
Growth
Asset Growth (YoY)6.25%8.69%20.05%27.23%20.33%+1,408 bps
Loan Growth (YoY)8.47%9.93%21.07%33.18%25.48%+1,702 bps
Deposit Growth (YoY)6.17%20.01%24.34%36.50%34.22%+2,806 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.27%-0.02%0.04%0.06%-0.14%-41 bps
Allowance / Loans1.43%1.53%1.48%1.43%1.39%-3 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 Capital10.55%10.44%10.02%9.71%10.88%+32 bps
Equity / Assets7.47%7.25%6.85%6.64%7.50%+3 bps
Liquidity & Funding
Loans / Deposits124.04%115.36%100.86%109.47%115.96%-808 bps
Liquid Assets / Assets0.16%0.18%0.30%0.28%1.16%+100 bps
CRE / Total Capitaln/an/an/an/an/an/an/a