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Wilkes National Bank

Wilkesboro, NC · Cert 33546

FDIC

Q3 2002

$144.9MAssets
$104.2MLoans
$123.7MDeposits
$13.9MEquity
Loan mix
37%RE $19.5M63%C&I $33.6M0%Consumer $0.2MQ3 2001Q3 2002
Deposit mix
91%Interest-bearing $113.0M9%Noninterest $10.7MQ3 2001Q3 2002

NIM

8.36%Q1 ’017.59%Q3 ’015.93%Q3 ’02-11%-3%

Non-interest income vs. expense

2.55%Q1 ’012.64%Q3 ’012.75%Q3 ’02+5%+3%

Executive Summary

  • Earnings: ROA of 0.68%, down 26 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 84.24% of deposits as of Q3 2002.

Financial Results

Return on Assets (YTD, annualized)

0.68%-26 bps YoY

Net Interest Margin (YTD, annualized)

3.43%-11 bps YoY

Efficiency Ratio (YTD, annualized)

73.53%+421 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 Assets0.94%1.01%0.45%0.57%0.68%-26 bps
Return on Equityn/an/a4.86%6.11%7.20%n/a
Net Interest Margin3.54%3.39%3.26%3.40%3.43%-11 bps
Efficiency Ratio69.32%69.21%80.34%76.18%73.53%+421 bps
Non-Interest Burden2.37%2.24%2.56%2.51%2.44%+7 bps
Growth
Asset Growth (YoY)9.89%16.07%13.07%12.04%15.87%+598 bps
Loan Growth (YoY)10.95%24.22%23.87%27.43%28.22%+1,727 bps
Deposit Growth (YoY)10.09%12.92%15.28%13.63%17.24%+716 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.37%0.38%0.08%0.03%0.03%-34 bps
Allowance / Loans1.42%1.19%1.20%1.19%1.24%-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 Capital14.70%13.37%13.27%12.73%12.91%-180 bps
Equity / Assets10.02%9.25%9.28%9.51%9.57%-45 bps
Liquidity & Funding
Loans / Deposits77.03%82.70%82.36%87.02%84.24%+721 bps
Liquid Assets / Assets2.44%3.26%1.89%2.35%1.51%-92 bps
CRE / Total Capitaln/an/an/an/an/an/an/a