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Letter portraitLegal landscapeQuarterYTD

Arkansas National Bank

Bentonville, AR · Cert 33901

FDIC

Q1 2008

$1.9BAssets
$1.7BLoans
$1.8BDeposits
$37.6MEquity
Loan mix
96%RE $1.5B3%C&I $0.1B1%Consumer $0.0BQ1 2007Q1 2008
Deposit mix
99%Interest-bearing $1.8B1%Noninterest $0.0BQ1 2007Q1 2008

NIM

9.39%Q1 ’069.97%Q1 ’076.89%Q1 ’08+6%-65%

Non-interest income vs. expense

2.79%Q1 ’062.10%Q1 ’072.12%Q1 ’08+2%+20%

Executive Summary

  • Earnings: ROA of 0.14%, down 47 bps year over year; NIM at 1.91%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.46%.
  • Funding: loans stand at 92.42% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

0.14%1-47 bps YoY

Net Interest Margin (YTD, annualized)

1.91%-347 bps YoY

Efficiency Ratio (YTD, annualized)

98.72%+6,326 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets0.61%1.58%1.22%-6.52%0.14%1-47 bps
Return on Equity7.01%18.23%13.77%-88.55%7.52%+52 bps
Net Interest Margin5.38%5.16%5.03%3.87%1.91%-347 bps
Efficiency Ratio35.47%36.89%36.22%49.13%98.72%+6,326 bps
Non-Interest Burden1.57%1.61%1.51%1.70%1.88%+31 bps
Growth
Asset Growth (YoY)65.45%65.89%43.92%18.10%7.15%-5,830 bps
Loan Growth (YoY)72.48%62.42%44.87%11.96%1.18%-7,130 bps
Deposit Growth (YoY)103.17%111.63%89.98%53.27%15.51%-8,766 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.84%0.81%0.69%4.75%0.46%-37 bps
Allowance / Loans1.78%1.78%2.52%5.96%6.01%+423 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 Capital10.59%10.51%10.97%3.40%3.50%-708 bps
Equity / Assets8.94%8.61%9.24%1.85%1.98%-696 bps
Liquidity & Funding
Loans / Deposits105.51%100.21%103.86%92.78%92.42%-1,309 bps
Liquid Assets / Assets0.41%0.12%0.07%0.02%1.93%+151 bps
CRE / Total Capitaln/an/an/an/an/an/an/a