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First American Bank

Jackson, MS · Cert 33819

FDIC

Q2 2003

$21.5MAssets
$10.0MLoans
$19.9MDeposits
$1.6MEquity
Deposit mix
66%Interest-bearing $13.2M34%Noninterest $6.7MQ2 2002Q2 2003

NIM

10.11%Q2 ’0110.02%Q2 ’0210.53%Q2 ’03+25%+10%

Non-interest income vs. expense

7.35%Q2 ’017.29%Q2 ’029.10%Q2 ’03-2%+27%

Executive Summary

  • Earnings: ROA of 0.82%, down 79 bps year over year; NIM at 9.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.72%.
  • Funding: loans stand at 50.54% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

0.82%-79 bps YoY

Net Interest Margin (quarter, annualized)

9.20%+80 bps YoY

Efficiency Ratio (quarter, annualized)

90.28%+1,220 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets1.61%-0.22%-1.70%-0.20%0.82%-79 bps
Return on Equity20.11%-2.43%-19.73%-2.34%10.31%-980 bps
Net Interest Margin8.39%6.73%7.78%7.09%9.20%+80 bps
Efficiency Ratio78.09%99.10%108.00%100.28%90.28%+1,220 bps
Non-Interest Burden6.62%6.82%8.63%7.29%8.42%+181 bps
Growth
Asset Growth (YoY)-16.98%-23.78%-13.08%-13.95%16.32%+3,329 bps
Loan Growth (YoY)-22.66%-29.65%-18.26%-26.45%1.79%+2,445 bps
Deposit Growth (YoY)-14.17%-22.89%-16.48%-15.07%18.69%+3,287 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.45%-0.04%1.23%0.05%0.72%+27 bps
Allowance / Loans3.35%3.64%3.46%4.30%3.43%+8 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 Capital14.58%15.49%15.00%14.21%14.71%+12 bps
Equity / Assets9.00%8.94%8.27%8.83%7.31%-170 bps
Liquidity & Funding
Loans / Deposits58.93%56.38%63.47%53.54%50.54%-839 bps
Liquid Assets / Assets2.95%0.55%0.54%0.58%3.91%+95 bps
CRE / Total Capitaln/an/an/an/an/an/an/a