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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 ’017.18%Q3 ’016.11%Q3 ’02-16%+9%

Non-interest income vs. expense

2.55%Q1 ’012.79%Q3 ’012.74%Q3 ’02+12%-4%

Executive Summary

  • Earnings: ROA of 0.89%, up 14 bps year over year; NIM at 3.66%.
  • 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 (quarter, annualized)

0.89%+14 bps YoY

Net Interest Margin (quarter, annualized)

3.66%+31 bps YoY

Efficiency Ratio (quarter, annualized)

68.69%-851 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets0.75%1.23%0.45%0.69%0.89%+14 bps
Return on Equity7.52%12.76%4.86%7.37%9.34%+182 bps
Net Interest Margin3.35%3.46%3.26%3.58%3.66%+31 bps
Efficiency Ratio77.19%68.90%80.34%72.37%68.69%-851 bps
Non-Interest Burden2.53%2.21%2.56%2.50%2.42%-11 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 / Loans0.87%0.54%0.08%-0.02%0.03%-83 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