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Efs National Bank

Memphis, TN · Cert 33746

FDIC

Q4 2003

$879.7MAssets
$386KLoans
$44.5MDeposits
$481.2MEquity
Deposit mix
67%Interest-bearing $30.0M33%Noninterest $14.5MQ4 2002Q4 2003

NIM

2.72%Q4 ’012.56%Q4 ’021.84%Q4 ’03-41%-42%

Non-interest income vs. expense

123.83%Q4 ’0194.39%Q4 ’02130.35%Q4 ’03+28%+45%

Executive Summary

  • Earnings: ROA of 4.92%, down 360 bps year over year; NIM at 0.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 0.87% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

4.92%-360 bps YoY

Net Interest Margin (quarter, annualized)

0.90%-64 bps YoY

Efficiency Ratio (quarter, annualized)

93.63%+676 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets8.52%7.53%8.07%11.29%4.92%-360 bps
Return on Equity19.29%16.70%19.04%23.74%9.03%-1,026 bps
Net Interest Margin1.54%1.79%1.62%1.18%0.90%-64 bps
Efficiency Ratio86.87%87.91%88.13%85.99%93.63%+676 bps
Non-Interest Burden-11.06%-10.16%-11.50%-15.45%-6.10%+496 bps
Growth
Asset Growth (YoY)23.11%30.40%25.87%-30.33%-9.57%-3,268 bps
Loan Growth (YoY)2008%605%58.17%-95.77%-92.04%-209,986 bps
Deposit Growth (YoY)7.59%104.19%96.52%-45.28%-62.64%-7,023 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans6.08%0.00%0.00%0.00%0.00%-608 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 Capital126.09%119.80%124.61%146.95%152.95%+2,687 bps
Equity / Assets48.29%42.36%42.46%54.38%54.70%+640 bps
Liquidity & Funding
Loans / Deposits4.07%1.95%0.53%0.59%0.87%-320 bps
Liquid Assets / Assets6.50%2.44%2.43%2.67%0.27%-622 bps
CRE / Total Capitaln/an/an/an/an/an/an/a