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Southern State Bank

Malvern, AR · Cert 33456

FDIC

Q4 2007

$87.4MAssets
$59.9MLoans
$70.9MDeposits
$14.0MEquity
Deposit mix
92%Interest-bearing $65.6M8%Noninterest $5.4MQ4 2006Q4 2007

NIM

5.86%Q4 ’056.62%Q4 ’06-19.13%Q4 ’07+0%-400%

Non-interest income vs. expense

2.65%Q4 ’052.75%Q4 ’06-8.11%Q4 ’07+9%-394%

Executive Summary

  • Earnings: ROA of -1.90%, down 263 bps year over year; NIM at -9.68%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.34%.
  • Funding: loans stand at 84.45% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

-1.90%-263 bps YoY

Net Interest Margin (quarter, annualized)

-9.68%-1,291 bps YoY

Efficiency Ratio (quarter, annualized)

45.03%-2,790 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.73%0.89%0.83%0.92%-1.90%-263 bps
Return on Equity9.08%10.43%9.53%10.34%-14.95%-2,403 bps
Net Interest Margin3.23%3.38%3.57%3.57%-9.68%-1,291 bps
Efficiency Ratio72.93%69.83%70.72%69.93%45.03%-2,790 bps
Non-Interest Burden2.21%2.19%2.35%2.33%-6.50%-870 bps
Growth
Asset Growth (YoY)4.90%-0.59%-5.84%-5.76%5.77%+87 bps
Loan Growth (YoY)12.57%13.72%-0.94%-0.65%11.21%-136 bps
Deposit Growth (YoY)10.11%4.40%-5.47%-9.18%5.94%-417 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.04%0.02%0.31%-0.34%-44 bps
Allowance / Loans1.64%1.62%1.72%1.60%1.46%-18 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 Capital12.73%13.01%13.53%13.66%11.45%-128 bps
Equity / Assets8.26%8.77%8.70%9.13%15.97%+771 bps
Liquidity & Funding
Loans / Deposits80.44%80.90%79.28%84.33%84.45%+400 bps
Liquid Assets / Assets3.11%3.07%2.82%2.52%0.53%-258 bps
CRE / Total Capitaln/an/an/an/an/an/an/a